PIPCORN, JEFF MARTIN: The Popcornist
As an avid popcorn lover, there is nothing worse than getting one stuck in your teeth. We have all been there when the search for the toothpick is on! Alas, a pioneer is discovered. He who believes that no kernel shall get caught in the traps of the dentine. He goes by the name of Jeff Martin, and sails the entrepreneurial sea “salt” by the name of Pipcorn.
If you have seen Shark Tank or the Oprah show, then you must have noticed siblings Jeff and Jen Martin debuting their popcorn collection on live TV. Former Bentley alumni, we caught up with Jeff at his WeWork office in Brooklyn to discuss popcorn, his early childhood and life hacks for making it on to Shark Tank.
“I think that when you grow a business and start a business, it is a lot of building and taking apart of things to find the best approach.”
If you walk into Whole Foods, then you might have noticed the brown wholesome looking bags of popcorn displayed amongst a sea of shiny, colorful competitors. An aesthetic like no other, Pipcorn is known for its organic ingredients (they don’t use truffle oil, but real truffle), 6-month shelf life (due to using real olive oil) and smaller sized kernels. “Most salty snacks such as popcorn are all made with very similar ingredients, repackaged in a different bag. We wanted to focus on the kernel and the quality of the corn that is sourced from a small family farm in Indiana. So, for us, it was very important to create a natural look and feel before customers even open the bag.”
“It’s okay to say no to an opportunity if it’s not right.”
When proposed with great business deals, most entrepreneurs would say yes. However, Jeff has learned from experience that sometimes taking on an opportunity when your brand is not ready can hinder sales and your reputation in the market. “When we got into Whole Foods we were originally in four stores and had doubled over time. Our biggest break was getting into the Whole Foods Columbus Circle location as they wanted to create a large display for our brand by the register. They bought 100 cases from us on a daily basis. Unfortunately, we were not ready for that kind of demand and did not have all of the supplies needed. As a result, it cost us an arm and a leg to meet our production deadlines. Saying yes at the wrong time can be detrimental!”
The Marketing
Unlike Whole Foods, Pipcorn’s greatest account has been with Bed Bath & Beyond. “It’s a different business model where we don’t have to promote four times a year.” Other distribution channels include Marshalls, Fresh Direct and TJ’s in order to tap into a different demographic.
When it comes to PR and growth, instead of doing things the traditional way, Jeff Martin took his business to the Sharks. “Shark Tank contributed the most to our top line sales growth. Even though we were also on the Oprah show and our website crashed due to the visitors we received, Shark Tank beat that by a factor of 15. Plus, the re-airs for the show has helped sales a lot!”
Jeff also looked towards partnering with local and niche influencers in various categories such as fitness. “Often times we don’t compensate influencers, but just provide them with free product to share with their friends.”
Other forms of marketing channels include participating in events, brand partnerships (with like-minded CPG brands), sample giving as well as collaborating with subscription boxes for office snacks. “The subscription box model has allowed us to get exposure to thousands of employees who then buy the brand in their leisure time.”
“Popcorn has always been in some weird way, a part of me.”
Born in NY, Jeff is one of four siblings. “There was always a buddy to hang out with growing up, but I was definitely the wilder one.” Since the age of 10, he was selling popcorn to his siblings in his house or as he liked to call it the “popcorn bar bedroom!”
“I ended up working at UBS Investment Bank in the consumer products and retail group after graduating from Bentley University in 2007. However, I got laid off and no one was hiring so I ended up working with a tech startup in the music industry. I learned how to pitch a business idea with the founder of the company and looking back, getting laid off was the best thing to have ever happened to me!”
Fast forward to 2012, the seeds of Pipcorn were planted when Jeff helped Jenn move apartments in Chicago and the two siblings were left hungry surrounded by boxes in an empty apartment with nothing to eat. “We opened a bag of kernels she had received from a farmer and were instantly in agreement that this was the best popcorn we had ever had! It had so much flavor and didn’t get stuck in your teeth.”
The Advice For Getting on Shark Tank:
Stand your ground and get what your company needs.
Have confidence in your ability to tell your story and sell your product. “The Sharks know that the exposure of the show is worth a lot so they will beat you down and tell you that you are a cockroach.”
Sharks don’t invest in products, they invest in people!
“We went on Shark Tank for the exposure, relationship and the deal more than the money. We have considered that as an angel round for us and haven’t done a traditional Series A due to the sales we received from the show. Our next step is to find a strategic investor with industry experience to take us to the next level.” If this sounds like you, please email us to be put in touch with Jeff.
Feeling hungry? Head on over to your local Whole Foods, Bed Bath & Beyond or shop online to try out Pipcorn. Or if you’re feeling adventurous and want to pop your own kernels at home, remember the 3- second rule for precision (if you don’t hear a pop every three seconds, then the batch is done!) Happy snacking.
Photo courtesy of Pipcorn.