FT Start-Up Stories Series 3: The Coconut Merchant 10/10
Dec 5, 2016
Al Shariat, founder of a business selling ethically sourced coconut products, shares how a taste test ignited his entrepreneurial spirit after his work with the UNDP. He highlights the importance of partnering directly with farmers for fair pay and community development. Alex Nichols, a social entrepreneurship academic, contrasts fair trade and ethical sourcing, discussing their impacts on supply chains. Both delve into balancing commercial success with social missions, sharing stories of empowerment for farmers and innovative product development.
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Farmer's Daughter Goes To University
- Al described meeting an Indonesian coconut sugar farmer who could now send his daughter to university.
- He used this story to show how stable income changes whole communities in remote villages.
Prove Demand Online Before Retail Push
- Test and build demand online first to prove the product before approaching retailers.
- Use online traction as leverage to win in-store listings and demonstrate consumer demand.
Negotiate Retailers By Building Buyer Relationships
- Build relationships with retail buyers so they understand your mission and won't simply squeeze suppliers.
- Explain your supplier constraints and show long-term mutual benefits to secure fairer terms.