Ice cream is one of the most talked about things by women on social media, and with over 6 million fans on Facebook, Ben & Jerry’s is positioned as the third most popular ice cream brand in the UK ( after Cornetto & Magnum). From Cookie Dough to Chunky Monkey, we’ve all got a favourite B&J flavour, and it was earlier this week when I found myself having a cosy night in with a mini tub of Chocolate Fudge Brownie that I wanted to find out more about this charming ice cream monopoly!

Founded by Ben Cohen and Jerry Greenfield back in 1978, B & J is now a wholly owned subsidiary of Unilever, (which also counts Cornetto and Magnum in its stable.) Last year the UK ice cream category posted 9% growth according to a Euro Monitor report, but how did B&J come to be a dominant player in the market? And what lessons can entrepreuners learn from their journey?

 

1)  FIND THE GAP

 Ben and Jerry had no idea what they wanted to do with their lives, after pin pointing a passion for food, they chose to learn how to make and manufacture ice cream after finding bagel catering equipment was too expensive. They then went around every college campus in the US to find one that didn’t have an ice cream parlour: South Burlington, Vermont.

2) PIVOT

Whilst B&J had fun running their one Vermont store, they were barely breaking even- it was only when Ben decided to carton up ice cream for local grocery stores and restaurants did the business really begin to scale. Diversifying their revenue streams led to recognition outside of just 1 state.

3) LEVERAGE LOCAL LOYALTY

From putting on events in winter to drive ice cream sales, to free ice cream for all locals after their first year in business. B&J knew the value of customer loyalty from day 1. Thus when they were ready to scale they shunned VC money and went for a localised stock offering, selling each share at $10.5 with a minimum buy of 12 shares.

4) IF THERE’S SOMETHING YOU DON’T LIKE ABOUT BUSINESS DO IT DIFFERENTLY

Ben and Jerry were heavily involved in political activism and supporting local community. From working with ex-convicts to brining children’s basic needs to the top of the national agenda, B & J believed from the outset that business should not just make a profit but profit man kind. Their value led proposition led the way for corporate social responsibility.