Hälsa Foods, the purveyor of oat-based milk products, is among the many small businesses across America that faced a reckoning this year as coronavirus-related shutdowns destroyed the manufacturing and distribution processes it had worked hard to secure. Although it was almost wiped out of existence by the onset of the pandemic, Hälsa seems to have turned a corner, said company co-founder and CEO, Mika Manninen.
Hälsa Foods, according to the CEO, had massive plans at the top of the year that included expanding into nearly 4,000 stores. After shutdowns hit several industries integral to its production and distribution chains, it "suffered greatly and lost, at one point, 90 percent of our business," Manninen said.
The business has since climbed back but getting on track again was no easy task. According to the CEO, the process was like watching "an infomercial from hell. Just when you thought you went over one hurdle — but wait! There's more."
"All the big retailers literally just put everything on hold and just started catering for the very large companies," he said.
When stay-at-home orders began, "our distributors would not pick up our product and deliver," he added.
Manninen found that the survival of the business depended on in-person, hands-on work. "Unfortunately I'm afraid that Zooming from home is not going to do it."
During the year, Hälsa lost its product co-packer to larger businesses and had to locate and train a new company in three months' time, a process that typically takes up to 10 months for these types of products, the CEO explained.
As the head of the company, Manninen said it was his responsibility to carry out training in-person, even with COVID-19 travel restrictions in place, to protect workers from contracting the virus.
"I actually ended up this year, 227 nights in a hotel. I have traveled extensively the past 20 years, but I've never had a year like this," he said.
The company has since moved forward with some of its expansion plans, with products now available in Maine and Massachusetts. While the company's current bread-and-butter lies in its Oatgurt brand, Manninen said it has the capacity to create new products and will be rolling out more, which of greater importance as larger industry leaders roll out competing products.
"I think that's what's going to separate, for example, someone like us: we are organic, not one single added ingredient," he proclaimed. "We are the oat-based 2.0."
The social video platform's future remains in doubt, as players scramble to profit from the chaos. Plus: Big oil gets bigger, DOGE downsizes, and tariffs!
Ty Young, CEO of Ty J. Young Wealth Management, joins Cheddar to discuss Trump's moves as he returns to Washington D.C. and how it may affect the U.S. economy.
Starbucks’ decision to restrict its restrooms to paying customers has flushed out a wider problem: a patchwork of restroom use policies that varies by state and city. Starbucks announced last week a new code of conduct that says people need to make a purchase if they want to hang out or use the restroom. The coffee chain's policy change for bathroom privileges has left Americans confused and divided over who gets to go and when. The American Restroom Association, a public toilet advocacy group, was among the critics. Rules about restroom access in restaurants vary by state, city and county. The National Retail Federation says private businesses have a right to limit restroom use.
President Donald Trump is talking up a joint venture investing up to $500 billion for infrastructure tied to artificial intelligence by a new partnership formed by OpenAI, Oracle and SoftBank. The new entity, Stargate, will start building out data centers and the electricity generation needed for the further development of the fast-evolving AI in Texas, according to the White House. The initial investment is expected to be $100 billion and could reach five times that sum. While Trump has seized on similar announcements to show that his presidency is boosting the economy, there were already expectations of a massive buildout of data centers and electricity plants needed for the development of AI.
Chris Ruder, Spikeball Founder and CEO, explains how he and his friends put roundnet on the global map, plus, how Spikeball helps people "find their circle."
J.W. Roth, CEO of Venu Holding Corporation, discusses the company's IPO and plans to redefine live music entertainment with their fan founded, fan-owned model.
Variety's Clayton Davis discusses why more than just the 1% are struggling after the LA fires. Plus, how awards shows will pivot to help victims. Watch!