Rich Gaspari discusses the ups and downs of Gaspari Nutrition and whether or not the company could exist without his involvement.
The supplement industry has grown to a mammoth size over the past few decades. This creates an incredibly competitive market for entrepreneurs looking to sell nutritional supplements. Rich Gaspari knows this challenge very well. He’s had great ups and downs with his supplement company, Gaspari Nutrition. Now, in a new phase of reinvention after bankruptcy, Gaspari looks to a bright new future. In our last GI Exclusive interview, Rich Gaspari replied – would he ever sell Gaspari Nutrition?
Gaspari Nutrition is a brand that many bodybuilders and even the occasional fitness enthusiast know. Rich Gaspari’s name has been associated with the manufacture and sale of nutritional supplements for several decades. Gaspari Nutrition has long been a leading powerhouse in the supplement industry.
But times were changing and the industry was booming due to the rise of the internet and social media with a more direct consumer market. Gaspari Nutrition went through rough times and eventually filed for bankruptcy. Through all of this, Rich Gaspari eventually got his company out of the ashes and is currently at it Reinventing the brand for a new era.
In our recent video interview, we asked Rich Gaspari to describe some of the ups and downs behind the scenes throughout the life of the company. He also explains how working with large stationary companies like GNC was the camel that broke its back on Gaspari Nutrition.
In fact, distributing large corporations hurts retailers immensely, with the exception of the massive mainstream brands. Because of this, niche supplement retailers are fighting back with direct-to-consumer models. Social media influencers and online marketing have made the middle man a huge hit for some brands.
Of course, this increases the competition tenfold. Rich Gaspari may have learned his lesson a little late. But now he’s caught up and is actively developing Gaspari Nutrition to get to know the new version of the industry.
In this type of business, it is not uncommon for a withdrawal to occur at some point. Build the brand into something serious, then sell it to the highest bidder. This often has a negative brand of its own, as greater corporate control can lead to cheaper manufactured products. But for entrepreneurs who want to settle down and reap rewards for their years of hard work, selling is not a bad retirement option.
So, after all these years devoted to his company, we had to ask Rich Gaspari if he would ever sell it. Would he cash out and enjoy the rewards of his dedicated work over the decades? Furthermore, could Gaspari Nutrition be successful without its name being given directly as the owner?
Rich Gaspari keeps his first answer short. He claims that if the price was right, he would sell. Although we don’t know what that price would be for him. Such a passion project certainly means a lot to Gaspari. When it comes down to it, it would be interesting to see if he would ever really sell.
Regarding the brand that exists without his name, Rich Gaspari says it can, but only if the company is in the right place. When a company is set up in all the right sales channels and running smoothly, a bigger company can buy the name and keep things going with no problem. The consumer would not notice anything.
However, if these channels are not all in place, or if the larger company wants to make changes to meet their standards, it can result in a change in the quality of the product. With a brand named after a legendary bodybuilder like Rich Gaspari, the name is ultimately as valuable as the company itself. Beyond the money, it’s important to know that the buyer is and isn’t interested in what that name means just looking for a retailer who sucks and spits down the street.
You can see Rich Gaspari’s full comments about Gaspari Nutrition’s past, present and future in our latest version GI Exclusive Interview segment above.