How did you handle the sudden cocoa price shock that threatened the business?
Replied byJake Karls
Co-founder & Chief Rainmaker at Mid-Day Squares
Niche: Retail
Revenue: Approx. 3.16 Million USD/month
Location: Montreal, Quebec, Canada
Started: 2018
Cocoa prices quadrupled due to crop shortages and droughts. Raising prices would make us uncompetitive, so we chose to eat the cost and innovate a new product. We developed a no-bread peanut butter and jelly snack that does not use cocoa, which quickly grew to represent a quarter of our sales.
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