Will Nitze, founder of IQBAR, highlights the importance of identifying uncompetitive niches for success in the crowded protein bar market. Launched seven years ago with a $75,000 Kickstarter, IQBAR focuses on plant-based, low-sugar, and clearly labeled products. The brand has since expanded to include IQMIX for hydration and IQJOE for coffee, promoting brain health without internal competition. Significant revenue comes from wholesale channels, with Nitze sharing insights on navigating product development and market differentiation as key strategies for growth.
The key is breaking down the competition into subcategories. By focusing on plant protein, low sugar, and clean labels, you can carve out a space with much less competition.
I got into this space as a personal passion... I was especially interested in brain food and noticed that, at the time, no one was offering ready-to-eat options.
We raised just under $10 million since our launch 7 years ago, with around 55% of our revenue coming from wholesale.
It’s about finding the uncompetitive niches within the broader competitive landscape that can lead to substantial growth.
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