What It Takes To Build Your Own Production Facility
Shopify Masters · with Julia and Jordy Kay · April 27, 2023 · 28 min
Summary
Great Wrap's founders share their journey of building a production facility to create compostable stretch wrap from potatoes. This episode offers critical insights for ecommerce operators on scaling a physical product business, securing significant funding, and navigating the complexities of sustainable manufacturing from the ground up. Learn what it truly takes to bring an innovative, eco-friendly product to market and manage your own supply chain.
Key takeaways
Manufacturing your own product provides complete control over quality and supply chain, a crucial advantage for sustainable brands. Great Wrap built its own facility to ensure its compostable stretch wrap met high standards from potato to final product.
Securing significant funding ($24 million for Great Wrap) often hinges on a compelling mission and a disruptive solution to a large problem; clearly articulate your environmental and business impact to attract investors.
Leverage media opportunities (like Netflix's "Down to Earth with Zac Efron") to dramatically increase brand awareness and attract both customers and investors, showcasing your mission and product innovation.
Develop a robust intellectual property strategy early on, especially for novel materials, to protect your innovations and secure your market position.
Thoroughly understand the technical aspects of your product and its environmental claims (e.g., biodegradability vs. compostability) to build consumer trust and avoid accusations of greenwashing.
Julia and Jordy Kay wanted to help reduce the amount of discarded plastic on the planet so they launched Great Wrap, a materials science company that’s turning potatoes into compostable stretch wrap. Since its inception in 2019, Great Wrap has been featured on Netflix’s Down To Earth with Zak Efron and the pair have raised more than $24 million to aid them in their mission to replace traditional polyurethane wrap.
What does this episode say about supply chain & operations?
Manufacturing your own product provides complete control over quality and supply chain, a crucial advantage for sustainable brands. Great Wrap built its own facility to ensure its compostable stretch wrap met high standards from potato to final product.
What does this episode say about finance & fundraising?
Securing significant funding ($24 million for Great Wrap) often hinges on a compelling mission and a disruptive solution to a large problem; clearly articulate your environmental and business impact to attract investors.
What does this episode say about founder & leadership?
Leverage media opportunities (like Netflix's "Down to Earth with Zac Efron") to dramatically increase brand awareness and attract both customers and investors, showcasing your mission and product innovation.
What does this episode say about brand & content?
Develop a robust intellectual property strategy early on, especially for novel materials, to protect your innovations and secure your market position.
What does this episode say about supply chain & operations?
Thoroughly understand the technical aspects of your product and its environmental claims (e.g., biodegradability vs. compostability) to build consumer trust and avoid accusations of greenwashing.
