How I Built This with Guy Raz Nature’s Path: Arran and Ratana Stephens
May 23, 2022
Arran and Ratana Stephens, co-founders of Nature’s Path, discuss their near 40-year journey in the organic cereal industry. Arran shares his vision for starting with Manna bread mixed in a bathtub, while Ratana provides insight into managing the financial side of their success. They reveal the challenges of transitioning from local products to national distribution, the emotional toll of rapid growth, and the inspiration behind their popular Love Crunch granola. Their story illustrates how complementary skills and shared values helped them thrive both in business and marriage.
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Ratna's Restaurant Success
- Ratna, initially unfamiliar with cooking and the food business, learned quickly and ran the restaurant successfully.
- Arran described her as frugal, saying she "could make a nickel scream."
Failed Partnership
- Arran brought in two friends as partners, giving away one-third of the business for $33,000.
- The partnership led to disagreements, ultimately forcing them to sell the business for less than $2 million.
Woodlands Restaurant Success
- After selling Lifestream, Arran and Ratna opened a 120-seat vegetarian restaurant called Woodlands.
- The restaurant became very popular, serving millions of meals and generating a 25% profit margin.