Rich Gaspari discusses he ups and downs of Gaspari Nutrition and whether or not the company could exist without his involvement.
The supplement industry has grown into a mammoth size over the past few decades. This makes for an incredibly competitive market for entrepreneurs looking to sell supplements. Rich Gaspari knows this challenge very well. He’s had great highs and lows with his supplement company Gaspari Nutrition. Now in a new phase of reinvention after bankruptcy, Gaspari is looking towards a bright new future. In our latest GI Exclusive interview, Rich Gaspari answers – would he ever sell Gaspari Nutrition?
Gaspari Nutrition is a brand that many bodybuilders and even casual fitness enthusiasts know. Rich Gaspari’s name has been associated with creating and selling supplements for multiple decades now. For quite some time, Gaspari Nutrition was a leading powerhouse in the supplement industry.
But times changed and the industry boomed with a more direct-to-consumer market due to the rise of the internet and social media. Gaspari Nutrition hit rough times and eventually filed for bankruptcy. Through it all, Rich Gaspari eventually rose his company from the ashes and is currently in the process of reinventing the brand for a new era.
During our recent video interview, we ask Rich Gaspari to detail some of the behind the scenes highs and lows throughout the companies lifespan. He also explains how working with big corporate brick and mortar stores like GNC was the camel that broke Gaspari Nutrition’s back.
In fact, big corporate distribution is damaging retailers immensely with exception of mainstream massive brands. That’s why niche supplement retailers are fighting back using direct-to-consumer models. Social media influencers and online marketing have cut out the middle man to great success for some brands.
This of course increases competition ten fold. Rich Gaspari learned his lesson perhaps a little too late. But now he’s caught up and his actively evolving Gaspari Nutrition to meet the new version of the industry.
In this kind of business, it’s not uncommon to eventually cash out. Build up the brand into something reputable and then sell it to the highest bidder. This often has a downside brand itself as bigger corporate control can lead to cheaper made products. But for entrepreneurs looking to settle down and reap rewards for their years of hard work – selling isn’t too bad of an option for retirement.
That’s why we had to ask Rich Gaspari, after all the years dedicated to his company, would he ever sell it? Would he cash out and enjoy the rewards of his dedicated work over the decades? And furthermore, could Gaspari Nutrition succeed without his name directly attached as the owner?
Rich Gaspari keeps his first answer brief. He claims that if the price was right he would sell. Though we don’t know what that price would be for him. Certainly a passion project such as this means a lot to Gaspari. When push comes to shove – it would be interesting to see if he would ever really sell.
Regarding the brand existing without his name – Rich Gaspari says that it is possible but only if the company is in the right place. If a company is set up in all of the right distribution channels and running smoothly, a bigger company can buy the name and keep things going without issue. The consumer wouldn’t notice a thing.
But if these channels are not all set up or if the bigger company wants to change things to meet their standards – this could lead to a change in quality for the product. Ultimately, with a brand named after a legendary bodybuilder like Rich Gaspari – the name is just as valuable as the company itself. Beyond money, it’s important to know that the buyer is interested in what that name means and not just looking for a retailer to suck up and spit back out down the road.
You can watch Rich Gaspari’s full comments about the past, present, and future of Gaspari Nutrition in our latest GI Exclusive interview segment above.