Accountants are great with adding numbers, but what do they know about running a business? Nick Raccuia decided to find out for himself. After spending countless hours perfecting his recipe for a keto-friendly brownie in a cramped apartment kitchen, he knew it was time to share his masterpiece with the world. Here’s how Nick baked his way to success with KetoBrownie.
Nick first stumbled across the keto diet back in 2016, way before the trendy diet gained clout on social media. He quickly dropped 30 pounds and noticed a drastic increase in energy and focus. Sticking to the diet took a lot of determination and willpower, but he followed it religiously for a few years.
Although Nick enjoyed the allowed foods, he also struggled with a sweet tooth. Back then, only a handful of companies made keto-approved snacks—and most of them tasted like cardboard.
As it turns out, there is a colossal market for low-carb, low-sugar, high-fat treats. The keto diet works wonders, but many people struggle with compliance. While steak, avocado, eggs, and cheese are filling, these foods won't tame a sugar craving. And as soon as a dieter eats sugar, it throws them out of ketosis.
Nick realized his desire for a better-tasting snack would satisfy the needs of countless keto dieters. And it was time for this CPA to preheat the oven.
Instead of torturing his taste buds with disgusting snacks, Nick decided to get down and dirty in his apartment kitchen. It wasn't long before he concocted the perfect keto-friendly brownie. In November 2016, Nick sent out samples to his Instagram followers. After receiving a positive response, he decided to reach out to manufacturers.
In June 2019, Nick launched his first product online. KetoBrownie became an instant success. After just 18 months. Nick quit his CPA job to sell brownies full time. Sure, it was a risk, but working a 9-9 job (accountants can balance ledgers but not time clocks) never sat well with him. He knew starting this business was the right path at that moment.
KetoBrownie was Nick's first business venture. He used his entire life savings to preheat the oven, and he couldn't wait to watch his brownies bake. Although some friends and colleagues thought he was crazy, he had total support from his entrepreneurial family.
Nick's passion for serving his audience never wavered. But after a few years, he still couldn't grow KetoBrownie big enough to hire help. Sure, he loved baking healthy snacks and managing R&D. However, he despised handling Facebook ads, social media posts, behind-the-scenes tasks at Amazon, and web development. Nothing rises without enough batter, and Nick found himself spread way too thin as a one-man show.
In March 2020, the unexpected happened. Half of KetoBrownie's Amazon inventory spoiled. Nick knew something was amiss after receiving several one-star reviews. Several factors contributed to the fiasco, from expired products to improper storage at the warehouse. In the end, the mishap cost him $55K, and of course, insurance didn't cover the loss. He was on the hook for it all.
The inventory incident left a terrible taste in Nick's mouth. He decided to sell KetoBrownie and even started looking for buyers. But getting a decent offer wasn't an easy task. In a last-ditch attempt, Nick texted Ryan to see if he knew any buyers.
What you probably don't know is how much Ryan loves KetoBrownie. He keeps them stocked in his cupboards and raves about them to everyone. Ryan didn't want to see Nick throw away his baking apron quite yet, so he told him all about the Capitalism Fund.
Nick and Ryan made a deal: a majority sell-off of KetoBrownie. And since Nick already considered selling it all, it was the perfect compromise. He gets to stay on and do what he loves the most—creating delicious products.
Funding changed Nick's outlook completely. He no longer stresses out about running ads and managing the technical crap. Instead, he gets to spend his time tweaking formulas, talking to packaging designers, and handling R&D samples. Connecting with other entrepreneurs and agencies, like TurnKey Product Management, helped to streamline every aspect of owning a business. Nick finally breathed a much-deserved sigh of relief, thanks to the Capitalism Fund.
"If you want to go fast, go alone. If you want to go far, go with others."
For the first time, Nick discovered the benefits of building a team you can trust. His stress levels have plummeted, and he's regained his creative focus. At the age of 30, he can finally do everything he put on the backburner over the last few years.
When Nick first launched KetoBrownie, he never wanted to give up equity. The idea made his stomach turn. But the Capitalism Fund allowed him to grow faster, create more products, and build a bigger network. Perhaps, most importantly, it's given back his passion for creating delicious and healthy treats. Now his only regret is not doing it sooner!
The future smells delicious for Nick. He plans to continue creating the best keto snacks on the market, and he hopes to expand his raving fan base. Ultimately, Nick hopes KetoBrownie will build enough excitement to garner the attention of a major food company.
Curious to taste one of Nick's keto-friendly brownies? You can stock up at ketobrownie.com. And while you nibble, be sure to check out our free video series. We help entrepreneurs build successful 7-figure businesses they can sell. Will your business be the next one the Capitalism Fund invests in?