Quitting IB to start a CPG startup
So myself along with a friend of mine (formerly was in PE now at a top hedge fund), have started a pet project - we are making a type of sauce that is not popular in the US that we are confident the market will receive well (we’ve done a lot of research and marketing study/testing) including formal surveys and literally just having a ton of people try it.
We’ve also researched and contacted copackers and ensured that from a business operations/logistics standpoint that we are in shape to operate our business.
The upfront investment is reasonable given our careers and also the family situation is comfortable and as such I can afford such a risk. We have researched many case studies across CPG (beverage. sauce, candies, gummies, etc) and there have been a flood of highly successful CPG examples in the market started by mid 20s ex career people who take the plunge (Poppi, Bachan, RxBar, OliPop, Gruns, OakBerry among many others)
We are looking to launch our initial product and we have a certain customer profile as a wedge and we’re positioning the company to diversify across several flavors/tangential product types including some higher margin products.
As a fallback I will consider B school. Just want to share and see your initial feedback. I feel deeply motivated and inspired to pursue this in a way that I thought no longer exists in my life and my cofounder feels the same, building a brand like this would be deeply fulfilling on a very intense level for me. I wake up anxious and fall asleep feeling delusional confidence after working on this during the day.
I will also never be this capable of taking risk and to see an outsized success I feel the need to try something different and I am not motivated by anything to do in tech or AI. Also in the age of AI it seems marketing and building a viral brand has never been easier and makes the hardest part of the process more doable than ever before.