Launching Avec with Alex Doman.
Launching Avec, a maker of canned drink mixers with healthy ingredients, with entrepreneur Alex Doman. We also explore Alex’s entrepreneurial journey.
Alex Doman is the co-founder of AVEC – a maker of canned drink mixers with healthy ingredients including real juice, low or no sugar and natural botanicals.
Special Offer: Get a 15% Discount on Avec products when you use promo code “avecloveshob”
Before founding AVEC, Alex worked as a principal consultant at a boutique management consulting firm in London. He focused on helping consumer-facing businesses develop their strategy and turnaround plans. Eventually, he developed a specialty in Hospitality, Food & Beverage – advising many of the UK’s leading brands. It was while working on a project for one of the UK’s largest bar chains that he discovered the vast shortcomings in the mixer category and came up with the idea for AVEC.
Growing up in the UK, but of Australian & Canadian heritage – he has always been obsessed with flavor. Alex is always mobile and exploring new foods and cultures, and cooking.
Alex graduated from Columbia Business School with an MBA, London Business School with a MiM (Master in Management), and Edinburgh University with a degree in History. He lives in Brooklyn, New York.
On this episode Henry Lopez and Alex Doman chat about Alex’s entrepreneurial journey and the launching of Avec:
- You studied History at university, then had a career in the financial industry. Please briefly share the story of your early career before starting your first small business.
- What led you to start your first business (Avec in July 2020)?
- When did you know you wanted to be your own boss? Who were early entrepreneurial influences?
- Why are you an entrepreneur? What does it provide you?
- Please introduce Avec and the products you sell.
“Think Vodka AVEC Ginger, Tequila AVEC Grapefruit & Pomelo.”
“On a mission to improve what people mix with their spirits.” – Why does it need improvement? - How did you develop this idea?
- Why did you choose to have a co-founder (Dee)? How do you make this business relationship work – what are the keys to a successfully partnership? (Friends before launching this business together.)
- When are you planning to be profitable?
- How did you fund the launch?
- How long from idea to launch?
- How did you test or prototype the product?
- Who are your primary competitors?
- Why did you decide to move forward with launching in 2020 despite COVID?
Pricing Model: By 12-pack and subscription? $3 per can.
Manufacturing Model: How and where is the product manufactured?
Distribution Model: How do you currently sell/distribute the product? Retail? Wholesale? - How did you get shelf space and how are you expanding your retail presence? Do you have a consultant to help you with this? (Lots of locations in New York City)
- Would you please share a significant early surprise? Something you were not expecting.
- Please briefly share your experience in the XRC Labs accelerator program. What was the value and benefit for you and Avec?
- What’s next for Avec?
Episode Host: Henry Lopez is a serial entrepreneur, small business coach, and the host of this episode of The How of Business podcast show – dedicated to helping you start, run and grow your small business.
Resources:
Special Offer: Get a 15% Discount on Avec products when you use promo code “avecloveshob”
Books mentioned in this episode:
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- Humankind: A Hopeful History by Rutger Bregman
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