Boulder, Colorado educates next generation of health entrepreneurs | Wilnesh News

This story is part of CNBC’s quarterly Cities That Succeed series, which explores cities that have transformed into business hubs that are entrepreneurial and attract capital, companies and employees.

Nestled against the backdrop of the Rocky Mountains, Boulder, Colorado has developed into a center for a thriving natural products and wellness industry. Here, businesses generate billions of dollars in revenue, all driven by a deep appreciation for entrepreneurship, the outdoors, and healthy living.

The industry’s roots date back to 1969 when local hikers hand-picked wild herbs in the foothills of the Rocky Mountains, and according to a local industry group, they inspired the creation of tea company Celestial Seasonings, a pioneer in the natural foods movement.The tea company was later acquired by Hain Food Group – and now Hain Tiancheng Group —$390 million in 2000.

“This (region) is the epicenter of natural and organic,” Wendy Davidson, president and CEO of Hain Celestial Group, said in a recent interview with CNBC, which will air on April 11 at 10 p.m. (U.S. Eastern Time) and will soon launch the primetime special “Success City.” “If you want to drive growth, if you want to be in this industry in an authentic way, Boulder is the place to be.”

Today, Celestial Seasonings, still headquartered in Boulder, brews more than 1.6 billion cups of tea annually and generates sales of more than $150 million. Its success story has provided inspiration to countless entrepreneurs in the region.

“It’s the people. It’s the environment — the entrepreneurial environment and focus on natural, organic and healthy has allowed us to expand and grow one of the company’s largest and most profitable brands,” Davidson said.

The Boulder area’s emphasis on healthy living has fueled a boom in the industry, generating huge Contributes $2.1 billion to the Colorado economy annually, according to an October 2020 study from the Leeds School of Business at the University of Colorado Boulder. Research shows this contribution could create more than 22,000 jobs and have a significant impact on production, supply chains and consumer spending.

The Boulder County Farmers Market has been a vibrant incubator since 1987, embodying the region’s thriving ecosystem.

From April to November, the market becomes a proving ground for aspiring food entrepreneurs. More than 100 small businesses showcase their products to 100,000 hungry shoppers each year. Sales at the market have jumped 400% since 2013 and will reach $5.7 million by 2023, according to the nonprofit Behind the Markets.

It’s here that a simple jar of nut butter can be turned into pure gold.

In 2004, Justin Gold started selling jars of homemade peanut and almond butter to the local Boulder community at farmers markets.

What started as a free sample quickly grew into a hit product. The unique, all-natural flavors resonated with health-conscious consumers, and Justin’s canned brands became a common sight in the marketplace.

But that wasn’t enough for Gold – he eventually used his popularity to convince local retailers to put his brand on their shelves. Business grew slowly but steadily, culminating in a landmark deal with Whole Foods Market. Justin’s products can now be found in health stores and coffee shops across the country.

“My wildest dreams have been dashed by what we’ve accomplished,” Gold told CNBC.

The journey from a farmer’s market stand to its $286 million sale to Hormel Foods in 2016 is a testament to Gold’s vision and the unique environment Boulder has created.

Gold said the city’s vibrant entrepreneurial community, focus on health and wellness and beautiful natural environment are key elements in his success story.

“Everyone here is doing something really interesting,” he said. “You don’t have to be in an office environment to be creative, you can be outside. I think the convergence of all these great things will result in some really extraordinary results.”

Inspired by the success of Gold, Juan Stewart launched his Latin American sparkling juice drink, Frescos Naturales, at the Boulder County Farmers Market in 2021.

Stewart was quick to recognize the power of the market, calling it “the epicenter of the natural foods industry” where many brands have achieved national success.

His gamble paid off.In its first year in business, Frescos surpassed $40,000 in sales and secured a distribution deal with a grocery chain hook up.