Wharton Launch Pad Justin Gold | Justin's Peanut Butter
Dec 18, 2023
Justin Gold, the innovative entrepreneur behind Justin's Peanut Butter, shares his journey from aspiring lawyer to nut-butter pioneer. He reveals the origins of his plant-based brand, including the creation of portable nut butter squeeze packs that set a new standard in convenience. Justin discusses the challenges of scaling from farmers markets to retail giants like Whole Foods and the emotional weight of selling his company. Now, he's back in the food scene, teaming up with Rudy's Bakery to launch an exciting peanut-free frozen PB&J in early 2024.
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From Apartment Jars To A Cult Local Brand
- Justin Gold started making flavored nut butters in his Boulder apartment and sold them at farmer's markets and local stores.
- Roommates nicknamed the jars "Justin's," and local demand grew into a cult following that launched the brand.
Packaging Changed Purchase Behavior
- The squeeze-pack format unlocked customer trial and repositioned nut butter as portable and low-risk.
- Placement next to jars made the packs function as affordable trial sizes that drove jar purchases.
Buy The Capability Others Won't
- When suppliers refused to fill nut butters for squeeze packs, Justin bought a used machine to control production and avoid allergen factory issues.
- Invest in unique assets to create defensible, first-to-market advantages.