and other water vessels in the Nantucket Harbour. They began serving the Nantucket Harbour area during the summer vacation in college. Their first product was released after graduation in 1990, and consisted of a recreated peach fruit drink. In fact, the product was first founded in Spain during Tom’s travels, and was thought of as a way to make extra money while abroad. Everyone admired the product resulting in the first Allserve General Store on the wharf on Nantucket Harbour. That is where the first
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Nantucket Nectars Case study Starting a new business venture is never an easy task. However, perseverance and a strong will to succeed can lead to success. Nantucket Nectars is a perfect example of such a feat. The company went from a “floating 7-eleven” to a profit making company. It took several years and even selling part of the company in order to raise capital to continue the business but all the hard work paid off. The owners realized the potential for continued growth
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Nantucket Nectars Nantucket Nectars has captured America’s modern day lifestyle with its signature juices, quirky marketing, and intimate workplace. Tom and Tom’s huge success has drawn attention from bigger corporation such as Ocean Spray, Tropicana, Welch’s, Pepsi, and Starbucks. Nantucket Nectars should sign with Pepsi to keep the most control over their product and its image, allowing customers to still enjoy the item. Pepsi is a much better alternative to sign with because Tom and Tom
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Nantucket Nectars: Case Study Carl Medeiros 5/1/2010 Tom Scott and Tom First started Allserve, a floating convenience store serving boats in the Nantucket Harbour during their summer holidays in college. After graduation, during the winter of 1990, Tom First recreated a peach fruit juice drink that he came across in Spain and started a side business selling his fresh juice. Everyone loved the product and they went on to open the Allserve General Store on Nantucket's Straight Wharf. They named
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Nantucket Nectars Entrepreneurs and best friends, Tom First and Tom Scott, had started Nantucket Nectars in the early 1990’s. Since then, after some initial difficulties business has been booming. This has put them in the very unusual position of being courted by many corporate giants looking to break into the New-Age Beverage market. Tom and Tom sat back and evaluated all of their options. After awhile they came to the conclusion that they had three paths to take. Among these, the first
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NANTUCKET NECTARS IMPERATIVES FOR GROWTH - Access to larger distribution network with greater emphasis on the supermarket segment. - Access to new markets. Geographical expansion into the Midwest and West regions of the US, these areas currently account for only 9% of sales. - Reduction in cost structure, gross margins are currently at 34%. SWOT ANALYSIS Strength Nantucket Nectars have a unique all natural product line-up. They have a strong management team who has developed a strong brand
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Nantucket Nectars Nantucket Nectars Tom Scott and Tom First started Allserve, a floating convenience store serving boats in the Nantucket Harbour during their summer holidays in college. After graduation, during the winter of 1990, First recreated a peach fruit juice drink that he came across in Spain and started a side business selling fresh juice. Everyone loved the product and they went on to open the Allserve General Store on Nantucket's Straight Wharf. They named the fruit juice "Nantucket
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Nantucket Nectars: The Exit Nantucket Nectars has been a success since its inception in 1990. With a focus on distribution and a commitment to quality, taste, and brand storytelling, Tom Scott and Tom First built a $30 million brand in just seven years. However, as the company continues to grow, Scott and First need to decide whether to stay onboard and reap the benefits of their company’s success or sell Nantucket Nectars while they’re ahead. The first option of selling the company faces both
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Nantucket Nectars has many options that determines their future at the time of this case. They are faced with a decision to remain independent, go public, or sell. The managers are comfortable with any of the options; however, pros and cons exist for each possible decision. Decision One - Go Public with an IPO If NN were to go public and have an initial public offering, many benefits would arise. First, the company would receive instant capital funding. Given their financially problematic history
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Harvard Business School 9-898-171 Rev. December 11, 2000 Nantucket Nectars Well, we knew we were in an interesting position. We had five companies express interest in acquiring a portion of the company. Sometimes you have to laugh about how things occur. Tropicana (Seagram) and Ocean Spray became interested in us after reading an article in Brandweek magazine that erroneously reported that Triarc was in negotiations to buy us. (See Exhibit 1 for a copy of this article.) At the time, we
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