https://padlet.com/carlsona295/k37bvjhsfaraiq61 Peter Rahal en-us 2022-02-23 16:13:19 UTC 2025-03-15 12:43:32 UTC hello@padlet.com carlsona295 https://padlet.com/carlsona295/k37bvjhsfaraiq61/wish/2069802820 Factor - Entrepreneurship
Growing up, Peter was raised around the food industry because his father owned a shipping company that focused on apple juice products. Peter would hear his father talk about the struggle, process and success of his food company, which inspired Peter to someday takeover the company and attempt to make it more profitable. Peter went to a small college, and after graduating went out to work for a fruit processing plant but eventually came back to try to work for his father. After returning from college, he decided not to work for his father and started thinking about ideas for his own business.]]> 2022-02-28 16:16:51 UTC https://padlet.com/carlsona295/k37bvjhsfaraiq61/wish/2069802820 carlsona295 https://padlet.com/carlsona295/k37bvjhsfaraiq61/wish/2070439899 Factor - Entrepreneurship
After college, Peter fell in love with the gym, and loved working out whenever he had free time. Discovering the world of CrossFit, Peter made his way into nutrition and dieting. The ideal diet for Peter and his workout routine was a paleo diet. A paleo diet consists of foods that are gained by hunting and gathering such as lean meat, nuts or berries. During his mission to better his health, Peter noticed that there was no paleo product in the form of a bar or combined snack. After doing some research, Peter found no bars that were targeted for the small crowd of people on paleo diets. ]]> 2022-02-28 23:20:16 UTC https://padlet.com/carlsona295/k37bvjhsfaraiq61/wish/2070439899 carlsona295 https://padlet.com/carlsona295/k37bvjhsfaraiq61/wish/2070482964 Factor - Entrepreneurship
Peter and his partner Jared did extensive research and spent hours on end looking at ingredients of other food bars in attempt to create the perfect paleo bar. Their first batch of bars were blueberry flavored, and had ingredients straight out of a paleo diet. Made in his mother’s kitchen, the bars that Peter and  Jared had made were a success. The bars came out tasting great, but the packaging could have used an upgrade. A brown paper bag wrap with a sticker label the front and back was assembled for each bar and put together by Peter and Jared. ]]> 2022-03-01 00:13:46 UTC https://padlet.com/carlsona295/k37bvjhsfaraiq61/wish/2070482964 carlsona295 https://padlet.com/carlsona295/k37bvjhsfaraiq61/wish/2070503955 Factor - Capital
After Peter asked his father to find an investor for his company, his father told him the best advice that Peter had ever heard,”Shut up and sell 1000 bars”. From there Peter decided to market to his ideal customer, that being people who workout in CrossFit gyms, by offering to sell bars to those gyms so that they could provide their service and a dietary product. Instead of selling his product to grocery stores, where all types of people are, Peter tried to sell directly to his target audience. This marketing strategy quickly picked up, as expected, and Peter and Jared eventually started making profits off of their business.]]> 2022-03-01 00:33:35 UTC https://padlet.com/carlsona295/k37bvjhsfaraiq61/wish/2070503955 carlsona295 https://padlet.com/carlsona295/k37bvjhsfaraiq61/wish/2070529851 Factor - Labor and Land
In order to deal with the new money and new customers coming in, Peter and his partner decided that it was time for an upgrade. They had previously been working out of Peter’s parents kitchen, making all of the product solely by themselves. Peter had talked with his father, and one of his fathers old partners was selling a space in Chicago that was 1000 sq feet, and Peter was able to buy it off of him for cheap. Along with this new production center, Peter and Jared had hired family and close friends who start working for them. At one point, Peter even had to fire his mom because she kept messing up the labeling on the bars!]]> 2022-03-01 00:57:19 UTC https://padlet.com/carlsona295/k37bvjhsfaraiq61/wish/2070529851 carlsona295 https://padlet.com/carlsona295/k37bvjhsfaraiq61/wish/2070538167 Factor - Capital
In order to kickstart their business, Peter and Jared needed funds to support themselves. This was the point of no return, because at this stage of the business, once you’re invested you have to bank on a good outcome or else there won’t be a payout. Jared had decided to invest $5000 of his own money into the project, and Peter had borrowed $5000 from his parents. In total, the duo had $10k and a plan of action to go forward.]]> 2022-03-01 01:04:34 UTC https://padlet.com/carlsona295/k37bvjhsfaraiq61/wish/2070538167 carlsona295 https://padlet.com/carlsona295/k37bvjhsfaraiq61/wish/2070881969 Factor - Capital
In 2017, Peter and Jared were approached by Kellogg’s workers, and decided to sell their company to Kellogg’s for $600 million. RXBAR would remain a standalone company, but was now under the Kellogg’s ownership and had access to their resources. Peter liked the way that Kellogg’s offered to acquire his company because he said that Kellogg’s doesn’t want to fire Peter, but just acquire his company and keep him in work. Peter also noted that the people at Kellogg’s were very good people and meant well when they offered to buy his brand name and acquire his business. By getting acquired by Kellogg’s, Peter was able to use their team of researches to better his product even more, and was still able to keep himself and his employees in a safe job.]]> 2022-03-01 06:13:11 UTC https://padlet.com/carlsona295/k37bvjhsfaraiq61/wish/2070881969