Justin's: How I Built A Peanut Butter Company And Sold It For $281 Million

Justin Gold put his homemade nut butters in Whole Foods, but still couldn't turn a profit. A 2006 mountain-biking ride inspired a new product that put Justin's on the map. For more on how Denver and Boulder have rebuilt themselves as centers of business and industry, check out CNBC's primetime special, "Cities of Success: Denver & Boulder," premiering Thursday, April 11 at 10pm ET/PT.

Produced by: Zach Green
Senior Managing Producer: Eric M. Clark
Camera: Oscar Molina, Van Applegate
Audio: Drew Levinson
Animator: Elham Ataeiazar
Reporter: Andrea Day, Tom Huddleston
Additional Footage: Getty Images

About CNBC Make It.: CNBC Make It. is a new section of CNBC dedicated to making you smarter about managing your business, career, and money.

Connect with CNBC Make It. Online

#CNBC
#CNBCMakeIt
#foundereffect

Justin's: How I Built A Peanut Butter Company And Sold It For $281 Million

[siyethembafaithdlamuka]

CNBC, PLEASE DON'T EVER STOP THESE EPISODES OF FOUNDER EFFECT ETC ALL THE OTHER SHOWS ON YOUR CHANNEL.... WE LOVE IT!!!

[jakegolding]

I went to school in Boulder in the 2000s and everyone ate Justin’s peanut butter and almond butter. They were also super supportive of the community and donated products to lots of different events and organizations. I remember seeing their chocolate peanut butter and almond butter cups for the first time and was super impressed by their creativity and willingness to try new things. Super happy for their success.

[keniarosemary]

I would have loved to taste his earlier versions. The current version has palm oil, which they probably thought was necessary for scaling up the company. Its sad because it cheapens the integrity of the product. These days, a premium nut butter is made just with nuts, no added oils or filler.

[AndyNC]

He was "lucky" to have the right idea at the right time. There was not so much competition at that time and it was easier to place a new product. The other main leg on his success was the initial credit of 75K for a roommate's parents. I guess banks were not interested and he had no funds himself to finance that.
This is where most dreams shatter. Unfortunately.
He seems to be a very nice humble down to earth guy.

[bubbasernie]

He seems like a down to earth dude, even admitted that he got lucky. Salute.

[CarstenNRW]

finally someone who got super rich with a great idea/product who admits that's still also a lot of luck to achieve it. Most billionaires or multimillionaires are like "everyone can achieve that" but most of them had the luck to be born in a rich family to get the capital, meet the right person at the right moment or whatever else. In his case without the 75k from his mates parents he may have never achieved it because another company could have learned about it before he had the chance to sell it to the bigger stores. It's still 100% his achievement but there are millions who have awesome ideas but only 1% of them will really have the luck you need not to get stomped before you can realize your idea.

[sdbzzrj]

4:29. This is where most peoples journey ends and the dream dies. Borrow $75, 000 requires self belief and willingness to take risk when the time is right. Most people are too afraid to fail and never do anything.

As an owner of a similar nut butter brand, distrupting another area of the category, I have to say that I love his passion and how he was able to sum it up in a nutshell (pun intended). We are probably where Justin was in 2012-13 talking to WF, Wegmans, Target, testing out products in farmers markets across SoCal and getting traction nationwide but if I had to stress one thing from this, it’s that you gotta be in the right place at the right time. Hard work is expected but it means nothing without luck. And you increase your luck by being out there and staying relevant and consistent. So if you’re reading this and trying something on the side, keep doing it. It only takes one good person to look into your direction sometimes and it just snowballs after that. Good luck!!

[Danny-fshk]

Justin’s modesty is great. He might’ve had some luck, but if he wasn’t prepared then the opportunities wouldn’t have been available for him. Excellent story!

[TheLuggi]

6:04 Finally one of all those entrepreneurs says it: It just comes down to luck. No matter how good your idea or product is, if you don't know people that can help you realize it, you just won't succeed. If you aren't at the right place at the right time, you won't succeed. Many people forget this. You need help and luck, lots of it. It's the same with all those thousands of online print on demand and clothing businesses. Only a fraction of them are successful.

[byoken]

1:50 "using his food processor Justin began grinding his own nuts..."

[cdrad]

The honey peanut butter is the only one that I use. I literally cannot get enough of this peanut butter. I'm so glad he made this company!

[darkestpriestess]

Justin is an amazing person! I emailed him and he personally responded! He values his customers and he’s incredibly kind. His product line is super healthy and delicious. He has my utmost respect. ❤️

[Francis-ycnc]

A very nice personality and a honest view of his success. To build a company is not easy sometime there is luck.

[Horse-tradeEu]

He is a special and humble individual.

[disputecharges]

Love this series, always inspired by these entrepreneurs! thanks cnbc

[electrikoptik]

Fun fact: Korn's song titled "Justin" is named after this guy.
Jonathan Davis a big fan of peanut butter.

[MuskViral]

classic boulder, just need a roommate with a parent to give u 75k llol

[JonMendez]

I would buy Justin’s peanut butter, but I don’t like the palm oil in it.

[AK-rxhv]

Summary:
Call something organic, and sell it to hipsters in Boulder