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Popular Farmer's Market Kombucha Company Finds Growth In the Middle of the Pandemic
With the help of: Impact Washington
About
The Challenge
Over the years, Seeking Kombucha has grown its business by attending farmer's markets across the Puget Sound region and a small presence in restaurants and breweries. In early 2020 they sought market expansion, with projections of growing significantly both locally and across the US. When COVID-19 hit, selling at farmer's markets was no longer an option and the team had to quickly shift gears, find new outlets and business resources to continue to realize their expansion. Seeking Kombucha was also looking for opportunities to increase efficiency and profitability while increasing its position in the market.
Impact Washington has helped us leverage our data and see where improvements can be made. It has also helped us see procedures that should be in place to create a balanced environment to support our increasing growth.
MEP's Role
Impact Washington, part of the MEP National Network™, was introduced to Seeking Kombucha through Seattle Made. Seattle Made is a grassroots collaboration of over 600 urban producers and manufacturers working together to find and share the resources they need to “make it” in Seattle!
Impact Washington conducted a core value assessment to understand the unique challenges the company faced during the pandemic. The core value assessment is a comprehensive standardized "value" diagnostic for small businesses. Through a series of online questions provided by Impact Washington the account executive reviewed the current company valuation, its value gaps, and suggested areas of strategic emphasis for the most significant revenue/value enhancement. The assessment leads this two-person team through a series of questions regarding 18 business value drivers. The output provided the company with an industry-validated enterprise value and an analysis of the "value gap" with clear indicators of areas of emphasis to close the value gap.
Impact Washington's small and rural account executive prepared a strategic business report and findings document for the owners. The report covered a plan for addressing "red flags" and pursued the most impactful opportunities revealed in the analysis. The assessment helped the company find critical and actionable drivers contributing to the majority of success for Seeking Kombucha and opportunities to increase business performance.