Backgrounds Before Entrepreneurship

Charlene and Vince Li, a couple based in Toronto, Canada, are the minds behind EATABLE™, a gourmet popcorn brand that emphasizes premium ingredients and unique flavors. Prior to launching their entrepreneurial venture, Charlene honed her skills as a CPA at prominent firms like Deloitte and TD Bank, while Vince amassed over 17 years of experience in technology sales and real estate asset management with companies including IBM and Pizza Pizza.

Inception of a Delicious Idea

The concept for EATABLE™ materialized in 2018 in Boston. At the time, Charlene embarked on a new role at a startup, and Vince took on the responsibilities of a stay-at-home dad. Driven by a passion for culinary experimentation, Vince approached cooking as a form of creative expression, inspired by the need for healthier snack options. They noted that many available snacks were packed with artificial ingredients that often left consumers feeling unwell.

After a session in the kitchen with a stovetop caramel popcorn recipe and the innovative idea of infusing it with single-malt scotch, they developed a product reflecting their love for snacks and flavorful beverages. The duo’s strong belief in clean, minimally processed ingredients laid the foundation for EATABLE™, intending to foster moments of connection and conversation.

Foundational Steps in Launching EATABLE™

Their journey began at Commonwealth Kitchen, an incubator for food startups, where they gained crucial insights into the food business landscape. During this time, they introduced their signature flavor, “Whisky on the Pops,” through a pitching competition.

Upon moving back to Toronto, they immersed themselves in culinary training alongside pastry chefs and designed innovative packaging to distinguish their product. In 2019, they launched their Shopify store with their first order, which sparked excitement and validation for their endeavor.

Challenges and Learning Experiences

Reflecting on their entrepreneurial evolution, Charlene expressed a desire to have embraced effective delegation sooner, acknowledging that their hands-on approach, while beneficial in the early stage, became a bottleneck as the business expanded. They both engaged with books on team management and streamlined procedures, which eventually led to a robust hiring strategy that allowed for sustainable growth.

Throughout their challenges, including difficulties in sourcing co-manufacturing partnerships and the pandemic-induced supply chain issues, they emphasized the importance of maintaining communication, quality standards, and nurturing their team culture.

Revenue Growth and Future Vision

EATABLE™ experienced a trajectory of growth, starting with $56,000 in revenue its first year. The business quickly flourished, achieving $467,000 in its second year and boasting nearly a million in revenue by year three. Their methodical approach to growth centers around profitability, resisting the allure of rapid expansion that could sacrifice their premium brand positioning.

Moving forward, they aim to diversify their product lines to create consistent revenue streams and leverage strategic collaborations, focusing on establishing EATABLE™ as a leader in innovative and high-quality snack offerings.

Time Management and Work-Life Balance

Charlene and Vince share the realities of juggling their business with familial responsibilities, frequently dedicating over ten hours daily to their entrepreneurial pursuits. They minimize distractions through organized scheduling and prioritize focused work time, emphasizing the importance of work-life balance during their growth phase.

Values and Aspirations

At the core of EATABLE™ is a desire to foster connections through food, breaking cultural barriers while offering unique snacking experiences. The couple highlights their collaborations with renowned partners such as Disney and Netflix as milestones that align with their mission to create moments of joy.