Growth Centre: Food and Agribusiness (FIAL)
Case study from: Growth Centres Success Stories
By acquiring new skills and learning about innovative methods through the Industry Growth Centres Initiative, owners of the Orange-based food company, Fresh Fodder, gained the confidence to completely overhaul their business strategy. The result? They’re now one of Australia’s leading dip producers.
Business in focus: Fresh Fodder
Fresh Fodder’s co-founders, Max and Fiona Schofield, operated their business on a simple economic model, ‘More products means more sales’. However, growth had plateaued.
As a business in one of Australia’s six growth sectors, Max and Fiona accessed the expertise and counsel of the Food and Agribusiness Growth Centre, Food Innovation Australia Ltd (FIAL), by attending one of its ‘Fast ‘n’ Furious’ innovation courses.
In the workshops, the pair received invaluable mentoring on how to rework their business strategy to focus on innovating their core product, building and communicating Fresh Fodder’s brand story and creating a connection with customers.
With guidance from FIAL, Fresh Fodder unlocked its business success, and over a twelve-month period, has seen a revenue increase of 30 per cent for its core product and 17 per cent for its full range.
Fresh Fodder is just one of the many businesses across six sectors unlocking its success with Australia’s Industry Growth Centres Initiative. If your business has unrealised potential, now could be your time.
“Initiatives like this take you out of your comfort zone and make you think about stuff that looks all too hard. How can we take the business from four million to forty million? That’s an exciting challenge.”