Forktales

Jenn Palmer is the founder and CEO of JPalmer Collective, bringing 20 years of experience in the financing industry. She specializes in helping growing consumer brands access capital and has developed a particular focus on food, beverage, health and wellness companies and women-led businesses. JPalmer Collective is an asset-based lending company that provides flexible financing to growing businesses. The firm works as a long-term growth partner, helping companies fund inventory, receivables and other needs while providing founders with financial guidance and access to capital without necessarily giving up equity.JPalmer Collective typically works with companies generating between roughly $5 million and $100 million in revenue, although it will make exceptions for companies it strongly believes in. The firm can also assign lending value to established trademarks, providing additional capital based on the value of a healthy, growing brand. Supporting female entrepreneurs is central to JPalmer Collective’s mission. Jenn committed to maintaining a portfolio that is at least 51% female-owned or female-led after helping finance Stasher, a reusable silicone bag company that later sold to SC Johnson. Jenn said the experience demonstrated how having women represented in financing decisions can influence which businesses and ideas receive capital. Jenn believes founders need to distinguish business momentum from financial health. Strong sales, publicity and retail distribution can make a brand appear successful, but margins, cash conversion, operational strength and a clear plan for funding growth provide a much better picture of the underlying business.Rapid growth can create serious financial problems when founders don’t understand how that growth will be funded. Jenn cautions against pursuing every retail opportunity simply for the sake of increasing sales and believes growth needs to make financial sense before a company commits to it.The cash conversion cycle is one of the metrics Jenn wishes more food and beverage founders understood. Inventory represents cash tied up until a retailer pays, so a company’s ability to manage the time between paying for products and receiving payment can determine whether its growth is actually fundable.Jenn places significant importance on the founder and management team when deciding whether to finance a business. She looks for self-aware, coachable leaders who surround themselves with talented people, accept criticism and have colleagues willing to challenge their ideas rather than simply agree with them.Landing a major retailer can create a cash crunch rather than immediately improving a company’s finances. Brands often have to pay for inventory and production long before receiving payment, while simultaneously absorbing expenses such as slotting fees, chargebacks and deductions. Too much demand can sometimes be more dangerous than too little. Rapid demand can strain cash, create stockouts and late shipments, damage retailer relationships and force founders into expensive financing decisions. Jenn believes companies need the discipline to turn down opportunities they aren’t financially or operationally prepared to execute. Jenn pays close attention to consumer trends but believes timing, the product and the management team matter as much as identifying the trend itself. She focused her career on health and wellness beginning in 2008 and now sees fiber as an emerging opportunity, describing it as potentially “the next protein.”Jenn sees debt and equity as tools for different circumstances, describing debt as “dating” and equity as “marriage.” Venture capital can provide valuable growth funding, but it also creates dilution and pressure to generate outsized returns, making it important for founders to choose financing that fits where their business is and where they want it to go. Jenn says the funding gap for female founders remains significant despite years of attention to the issue. Her experience building JPalmer Collective reinforced her belief that women need greater representation on the financing side of the table and that female entrepreneurs benefit from capital partners who genuinely understand and support their businesses.   QUOTES “I’ve learned to separate momentum from health. Momentum is very exciting. But health is what determines whether that momentum survives the next big order or not.” (Jenn)“At the end of the day, I actually have two businesses. One is lending the money and the other is getting it back.” (Jenn)“Growth that outruns a founder’s grasp of their own cash is probably one of the fastest ways for a good brand to get in trouble.” (Jenn)“Growth has to make sense on paper, and I don’t believe that growth cures all. When somebody says to me, ‘Sales cures all,’ I run for the hills.” (Jenn)“Most founders are just laser focused on revenue growth and gross margin, which matters, of course, but it’s the cash conversion cycle that tells you whether the growth is actually fundable or not.” (Jenn)“If I’m at a table of people who are agreeing with me, I’m at the wrong table. I don’t want to be at the table. I want people to challenge me.” (Jenn)“Founders are visionaries. They just want to go and they want to dream, and you need people around you that can execute, but also say, ‘No, you can’t chase all of your dreams all at once.’” (Jenn)“We make and break our own rules for the right deal.” (Jenn)“Growth is a problem. It’s a great problem, but it’s certainly a problem with these big retailers.” (Jenn)“Counterintuitively, too much demand can be more dangerous. It can strain a business’s cash to the breaking point, damage that retailer trust through stockouts, late shipments, and then force the founder into expensive, rushed financing decisions.” (Jenn)“Trends are important, but probably even more is the timing around those and the management team and the product behind the trends as well.” (Jenn)“Debt is like dating and equity is like marriage.” (Jenn)

Amit Pandhi is a longtime food industry executive and brand builder with experience leading both emerging and established consumer brands. His career has included leadership roles at Popchips, Velocity Snack Brands and other food companies, with a particular focus on turnarounds, growth and building organizations capable of scaling.Amit now leads Westminster Cracker Company, a heritage brand with roots dating back more than 200 years. The company is known for its oyster and soup crackers and is working to grow a highly familiar brand by expanding consumption occasions, strengthening distribution and finding new relevance with today’s consumers.Throughout his career, Amit has worked across different stages of the food business, giving him a perspective that spans entrepreneurial brands, mature companies, operational challenges and organizational change. He sees his career as less about loyalty to individual companies and more about repeatedly solving the same fundamental challenge: how to build brands and businesses that can grow.Strong leadership starts with hiring the right people, giving them the resources they need and then giving them enough freedom to do their jobs.Turnarounds require leaders to identify and protect the “culture carriers,” the people throughout an organization who may not have senior titles but have enormous influence over how employees think, work and respond to change.Transparency is especially important during periods of change. Employees can generally handle difficult news, but surprises and uncertainty can quickly undermine trust in leadership.Mistakes should be treated as opportunities to solve problems rather than reasons for punishment. What matters is whether people acknowledge mistakes quickly, take ownership and work together to correct them.Understanding what consumers actually buy requires looking beyond what appears on store shelves. Amit pays close attention to product date codes because they can reveal velocity and shopper behavior that assortment alone cannot.Established brands can face a tougher challenge than emerging brands because familiarity does not necessarily translate into enthusiasm or purchase. Growth often requires changing long-held perceptions and consumer habits while maintaining the recognition the brand has already earned.Successful innovation should create a genuinely new reason or occasion for consumers to use a product. New varieties that simply shift purchases away from an existing product may add complexity without producing meaningful incremental growth.Consumers do not necessarily need to “love” a food brand. Amit believes enduring brands often succeed by being dependable and solving a real need at the right moment, becoming the product consumers know will not let them down.Amit credits much of what he has learned to the generosity of the food industry and believes strongly in paying that generosity forward by helping others with knowledge, connections and resources whenever possible.  QUOTES “Where you are now is someone else’s dream. Pay it forward. And that’s what I love so much about this industry.” (Amit)“Hire the right people. Give them the right resources. Get the hell out of the way.” (Amit)“I’ve never been loyal to a logo. I’ve been loyal to the same problem for 20 years, and it just keeps changing addresses.” (Amit)“You have to handle people with grace. Just because they’re not the right fit for your organization at that point in time, it doesn’t mean they didn’t add a tremendous amount of value along the way.” (Amit)“The shelf tells you what the category manager bought. The date code tells you what the shopper is actually buying.” (Amit)“The most overlooked people are the culture carriers. These are people who never show up on a deck. They never show up on an org chart. But what they are is they are the hearts and minds of the organization.” (Amit)“Most people can handle bad news. I truly believe that what they can’t handle are surprises.” (Amit)“You should never discipline someone over a mistake, but I for sure will discipline people over hiding the mistakes. Make the mistake. Own it. Let’s roll up our sleeves together. Let’s fix it.” (Amit)“Indifferent familiarity is the hardest disease in CPG to cure. With an emerging brand, you’re fighting for awareness. With an established brand, you have to change perception. You have to change habits. And you have to do it at the same time.” (Amit)“Meaningful innovation unlocks a new consumption occasion. Everything else just steals from your core velocity.” (Amit)“Nobody loves your brand. Nobody loves a cracker. What people love is that the night went fine. Our job isn’t to be adored. It’s to be the thing that didn’t let you down when somebody had 11 minutes and a hungry kid.” (Amit)

Paul Hemingway is Vice President of Marketing and Communications at Litehouse Foods, where he also leads innovation. A 25-year CPG veteran, his career has included roles with major companies including The J.M. Smucker Company and Coca-Cola before joining Litehouse about five years ago.Litehouse Foods is a 100% employee-owned food company with roots stretching back more than 60 years to a restaurant in Idaho, where its original blue cheese dressing was created. Today, Litehouse is the nation’s leading refrigerated salad dressing brand and the company’s portfolio extends into sauces, condiments, pasta and other categories.Litehouse has been expanding beyond its traditional refrigerated dressing business as part of a broader diversification strategy. Its portfolio includes brands and partnerships such as Guy Fieri’s Flavortown, Zaxby’s and Veggiecraft, allowing the company to reach new consumers and compete in different areas of the grocery store.Litehouse’s partnership with Guy Fieri grew from an authentic product connection. Fieri was already using Litehouse sauces at home and recognized the company’s culinary expertise. Before entering the partnership, Litehouse insisted on spending time with him personally to make sure there was an authentic match in values.Consumer behavior is changing faster than Paul has seen at any point in his 25-year career. Discovery increasingly happens before shoppers enter a grocery store, making it important for brands to understand the entire consumer journey and the different meal occasions that drive purchase decisions.Social media, digital content and AI are expanding consumers’ exposure to new foods and flavors. Paul sees younger consumers in particular discovering global cuisines, unexpected product mashups and new flavor experiences through their phones, creating opportunities for brands to introduce innovation that feels adventurous without feeling too risky.GLP-1 medications are influencing how Litehouse thinks about future food innovation. As some consumers eat less, Paul sees growing opportunities around nutrient-dense foods, protein and fiber, while research suggesting GLP-1s may affect taste could also contribute to demand for bolder, spicier flavors.Economic pressure is creating different definitions of value. While some consumers will pay more for better taste, nutrition or quality, others are increasingly turning to private label. Paul believes brands may need to offer new sizes, formats and price points that make premium experiences more accessible.Employee ownership has changed the way Paul thinks about company culture. Rather than focusing solely on individual career advancement, employees are encouraged to think about strengthening the overall business and creating value for current, retired and future employee owners.Litehouse’s employee-owned culture can also provide a competitive advantage. Paul believes its roll-up-your-sleeves mentality, combined with the company’s relatively small size, allows it to remain nimble and respond to consumer trends and opportunities faster than larger competitors.AI is helping Litehouse accelerate analysis, consumer research and innovation. Paul sees its value less as replacing marketers and more as helping them move faster, quickly curate information, generate ideas and devote more attention to strategy and higher-value marketing work.The strongest retailer relationships happen when brands stop behaving like vendors and operate as true partners. For Litehouse, that means focusing on a retailer’s shoppers and growth objectives, jointly developing strategies, measuring results and finding opportunities that create value for both organizations.  QUOTES “The reality is, as you invite more consumers, different households into your brand portfolio, the needs are different.” (Paul)“If there are not 10 competitors, there are 100 competitors vying for your dollars. And so it changes how we think about the positioning of our brands.” (Paul)“You have to ensure that there’s a match of values. An authentic match of values.” (Paul)“Where we compete is associated with freshness. And with freshness comes increased perception of quality.” (Paul)“Their behavior is changing as fast as I’ve ever seen in my 25-year career. Where they learn about products has changed. What constitutes value and what does not constitute value changes.” (Paul)“We can’t think about that journey starting at the grocery store.” (Paul)“More and more, I find AI curating solutions for me. ‘Hey, AI, go figure this out for me and then come back with some ideation.’” (Paul)“Give me something that just has a half notch of adventure to it or is a half notch towards a helpful benefit. And I think that’s where you’ll see some innovation take form.” (Paul)“You’ve got to find the joy. It’s an approachable joy.” (Paul)“It’s not about, ‘How can I do my job?’ Or, ‘How can I do my job to get to the next job, to the next job, to the next job within the organization?’ It’s more of, ‘How can I make our business stronger?’” (Paul)“A big part of that is the people. It’s the culture that we’ve connected. It’s the roll-up-our-sleeves mentality.” (Paul)“A great retail partnership is when you’re able to position yourself not as a vendor, but as a partner. And the focus isn’t on you, but it’s on them and their growth, their shoppers, their guests.” (Paul)

Jim Herr is Senior Vice President of Sales, Marketing and R&D at Herr’s, where he helps lead the consumer-facing side of the family business. A third-generation family member, he brings a deep connection to the company’s history while helping guide its continued growth, innovation and consumer engagement.Founded by Jim’s grandparents in 1946, Herr’s has grown from a small Pennsylvania potato chip business into a nationally recognized snack company. Still family owned and operated, the company maintains deep Philadelphia-area roots while expanding its product portfolio and distribution throughout the country.Herr’s is now primarily led by the third generation of the family, with Jim and two cousins overseeing different areas of the business. The family has put significant effort into succession planning while working to preserve values established by the founders, including hard work, trust, generosity and treating people well.Jim says being family owned allows Herr’s to take a longer view, making investments and decisions based on the longevity of the business rather than focusing primarily on short-term gains.Maintaining an entrepreneurial mindset is particularly important as Herr’s moves through its third generation. Jim sees complacency and relying too heavily on “that’s how we always did it” as potential threats to a multigenerational family business.Authenticity has played an important role in building loyalty around the Herr’s brand. Rather than chasing attention, the company tries to remain true to its personality, its roots and the passionate character of the Philadelphia region.Social media has strengthened Herr’s relationship with consumers by giving the company more opportunities to listen, interact and involve people in product decisions. Flavored by Philly, for example, invited consumers to suggest and vote on flavors.Consumer feedback can have a direct impact on the product lineup. After Herr’s repeatedly heard requests to bring back its Long Hots & Provolone flavor, the company eventually added the limited-time product to its everyday lineup.Innovation requires accepting that not every idea will succeed. Herr’s uses research, testing and consumer insights to get products as close as possible before launch, then adapts based on what happens in the marketplace. That willingness to accept occasional failures has given the company freedom to experiment with bolder ideas.Herr’s combines formal trend research with experience, intuition and entrepreneurial thinking when developing products. Jim believes some ideas are worth pursuing even when they don’t check every box in a traditional development process.Limited-time products have become more strategic for Herr’s, with new flavors increasingly connected to partnerships, restaurants, events or themes. The goal is to create an experience and a little excitement for consumers rather than simply introduce another bag of chips.As consumer preferences evolve, Herr’s is paying close attention to ingredients, alternative oils, package sizes and the impact of GLP-1s. Jim says the company ultimately focuses on what consumers actually want to buy, using listening and understanding to guide how its products evolve. QUOTES “Some of the things that we’re interested in and that we put effort against or spend money against are really about longevity more so than short-term gain.” (Jim)“We put a lot of effort into the culture, maintaining some of those key tenets that my grandparents were so fond of and emulated so well, like hard work, trust, being good people.” (Jim)“The inherent passion that you have for a family business, just because it’s part of what you’ve always done and part of your family’s legacy, you certainly have a drive there. I think that’s pretty special.” (Jim)“Sometimes because you’re tied into the history of the company, you see complacency and the idea that that’s how we always did it. That’s what got us here. So that’s what we’re going to do.” (Jim)“One of the things that I think that we do is really stay true to who we are, try to really be authentic.” (Jim)“At the end of the day, we want to make a great, high quality product that creates a good experience, great flavor for consumers.” (Jim)“We have so much more connection, so much more ability to connect with consumers and understand what they want. We can listen to them.” (Jim)“You’re going to have plenty of new items that do well and you’re going to have plenty that don’t. We try to get 90 percent of the way there, all the research and insight that we can get. And then you just have to launch it.” (Jim)“A little bit of the mindset of being okay with some failures from time to time, you’re not always going to hit a home run, has really kind of freed us up a little bit to try some new things and try some bolder flavors or bolder tie-ins.” (Jim)“We like to always have just a little bit of that opportunistic or entrepreneurial spirit when it comes to new items where you say, this might not check all the boxes for all the processes and testing that we would do, but we think there’s something here.” (Jim)“We’re really trying to create an experience, something a little bit more than just a bag of chips.” (Jim)“That’s the key for us, listening and understanding what our consumers want, what their demands are, and then coming back and making sure that we’re representing that through our products.” (Jim)

Amir Yazdi is the founder and managing partner of Bastian Capital, an investment firm focused on identifying, acquiring and growing restaurant and hospitality businesses. A former film producer, Amir transitioned into the restaurant industry more than two decades ago and has built a career scaling multi-unit operations, investing in emerging concepts and helping restaurant brands grow sustainably.Bastian Capital invests in restaurant and hospitality businesses with an emphasis on operational excellence, scalability and long-term value creation. The firm owns and operates multiple restaurant concepts, including Subway, UNO Pizzeria & Grill and Coffee Bean & Tea Leaf locations, while also evaluating acquisition opportunities throughout the industry.Before founding Bastian Capital, Amir attended the USC School of Cinematic Arts and worked as a film producer. He credits his experience as a bartender with teaching him valuable customer service and leadership skills that continue to influence his approach to business. Bastian Capital has grown from operating restaurants to acquiring and investing in brands across multiple states.Amir believes every successful restaurant concept must be designed for replication. Strong systems, documented processes and operational consistency are what allow founders to scale beyond a handful of locations.One of the biggest questions he asks when evaluating an investment opportunity is simple: Why is the owner selling? The answer often reveals whether the business still has meaningful growth ahead or has already reached its peak.He cautions operators against assuming great single-unit managers will automatically succeed in multi-unit leadership roles. Scaling requires different skills, stronger infrastructure and the right people in the right positions.Amir says restaurants ultimately spend money in two places: food and labor. Rising labor costs continue to reshape the economics of the industry, making operational efficiency and back-office infrastructure more important than ever.He believes restaurants will continue to thrive because they provide something technology cannot replace. Beyond serving food, they create gathering places where families, friends and communities come together to celebrate, connect and build lasting memories.While he believes robot servers have limited appeal outside certain concepts, Amir expects automation in restaurant kitchens and back-of-house operations to become increasingly important as operators manage labor shortages and rising wage pressures.Looking ahead, Amir sees GLP-1 medications as one of the biggest long-term forces facing the restaurant industry. As access expands, he expects changing eating habits and shifting consumer behavior to influence menus, traffic patterns and restaurant economics across multiple segments.  QUOTES “Everybody needs to work a service job at some point in their lives. You learn how to deal with people, you learn how to be humble, and learning how to roll with difficult customers is a vital life skill.” (Amir)“The hardest step for us was going from four restaurants to five. That’s the point where you lose the ability to touch everyone all the time, and you realize you can’t do this by yourself.” (Amir)“When I look at scalability, it’s about simplifying the operation to the point where, if I grabbed you off the street, I could teach you how to run this place in three days.” (Amir)“We took all the guesswork out of the equation very early on, and that became a real catalyst for our ability to scale.” (Amir)“Just because you’re an excellent single-unit manager doesn’t make you an excellent multi-unit manager.” (Amir)“‘This is the way we’ve always done it’ is the worst possible answer to the question.” (Amir)“There’s only really two things you spend your money on in this business: food and people.” (Amir)“We’re just at the beginning of the GLP-1 story. When access expands, that’s going to be one of the biggest changes this industry has to navigate.” (Amir)“People will always want to go out. There’s something about breaking bread together. Restaurants bring communities together, and sometimes you catch magic. You can’t replicate that anywhere else.” (Amir)“There’s only so much price you can take. I always say, ‘Two is the new one.’ But if four becomes the new one, that’s a real problem for everybody.” (Amir)