Eric Helms cares concerning the particulars.
The 52-year-old Virginia native is the founder-CEO of Juice Technology, which has spent 25 years serving protein shakes and inexperienced juice to busy New Yorkers. Whereas many speciality well being shops may tout a cult following, as Helms sees it, Juice Technology’s buyer is unattainable to pin down. “They’re cab drivers. People walking into work. Young moms. Yoga fans. Hedge fund guys on their break. It’s a real cross-section, and I don’t want to be an elite business that caters to one demographic.”
It’s that dedication to mass enchantment—balanced with deep information of evolving buyer needs—that’s stored Helms operating his firm solely by himself. Since 1999, when he scraped collectively the funds from educating swimming to open the primary location in Hell’s Kitchen, Helms has steadfastly refused to just accept investor funding. He’s additionally refused to develop past New York Metropolis, explaining that he is aware of this market finest, and sees the model as having a “long-term relationship” with New York.
Most of all, Helms’ scrappy starting—and deep fondness for every of his 20 places—has inspired him to search out satisfaction inside his personal management. The truth that he can resolve which markets are the right match, and which juices deserve to stay on the menu, are value greater than any investor money.
Helms informed Fortune what he misses about his first job, what he needs as we speak’s entrepreneurs would cease doing, and the largest errors he made (they contain “chokeberries”).
The next has been calmly condensed and edited for readability.
Juice Technology has been in enterprise for 25 years. Why haven’t you taken the leap to develop additional—past New York, for example?
I don’t suppose success equals scale. As an entrepreneur, to me, the last word win is to make your individual choices, and to develop if you wish to develop, and to do what you wish to do. I’ve by no means constructed a enterprise with the intention of promoting it. My objective is to not retire and reside comfortably. I opened a enterprise and constructed a enterprise to function a enterprise—that’s the distinction.
I by no means thought that scaling was the last word objective. Waking up and making choices that you just wish to make, and never having a gun put to your head that it’s a must to open 10 shops since you took cash from buyers—no. I’m accountable to prospects and to my group. And I’m actually comfy with that.
I labored in chaos for a very long time in the course of the large juice increase, and I wasn’t joyful doing that. We have been opening three or 4 places a 12 months, and it was a pivotal time for me, as a result of I noticed I wish to decelerate and do what I wish to do, and information the enterprise with managed progress. That was one of the best choice I ever made as an entrepreneur.
What you’re saying strikes me as a not-very-American strategy to enterprise.
That’s as a result of I prioritize my private happiness. And I make choices primarily based on how they’re going to have an effect on my life, who I’m going to spend my time with, and what I’m going to do in the course of the day. I’m egocentric; I wish to do issues that make me joyful, and I wish to be round those that I get pleasure from, and I wish to study new issues. I don’t work in a calculated method. I at all times have possibly 20 tasks effervescent that we may very well be growing for years. And when one thing appears genuine and pure—like launching gelato—we embrace it and run with it. That’s how I make choices.
So why do different entrepreneurs develop and take investor cash?
I believe we’re programmed that success equals scale. My profession trajectory is uncommon as a result of I used to be a shopkeeper for a few years. I used to be a man in an apron, and I swept the sidewalk, and I opened somewhat retailer in Hell’s Kitchen, and I liked it and felt extraordinarily fulfilled. On the finish of the day, I felt like I had completed one thing.
When the juice craze occurred within the mid-aughts, I made a decision to insert myself and journey the wave, so to talk. And I form of put my life into chaos. Even at the moment, I didn’t wish to be managed by buyers and be informed what to do. So I used income from one retailer to open different shops. And I’m glad I did, however I labored unbelievable hours and had a lot of nervousness.
I used to be pleasant with two of the opposite house owners of pioneering juice corporations, Natural Avenue and Liquiteria. The three of us have been pleasant opponents. And we might often get collectively for lunch. They each went the route of getting buyers concerned of their enterprise. And I watched as they have been systematically dismantled and made horrible choices in actual property. Simply creatively, they actually took the unsuitable turns. That affected me, and I believed, I’m by no means going to let that occur.
What have been your early days like?
Once I opened the primary Juice Technology [in 1999], there was no açai within the metropolis. It was so early, once we began to serve açai, we had a pronunciation key within the retailer, as a result of nobody may pronounce it.
Starbucks had additionally simply opened their first New York Metropolis places, so the concept of a beverage-only enterprise was very overseas to folks. And I believe a blessing for our firm was that we opened within the theater district, and the Broadway neighborhood and the artists and performers completely embraced us. They wanted gas. It was the best location on the proper time.
So even earlier than the increase, having artists that have been very a lot attuned to their well being and wellbeing—I used to be lucky that a number of these performers informed me what they wished. The menu actually was formalized in these years after I was within the retailer and simply listening to folks.
The 2009 juice increase was concerning the juice cleanse. Inexperienced juice and kale and all of that was the second wave. Initially, folks went loopy over a juice cleanse. And I had somewhat retailer on 72nd Avenue, which was subsequent door to what would turn out to be the primary SoulCycle. They wished to do a soul cleanse, so we labored on that collectively. They have been about to be partnering with Equinox. And we partnered with Salma Hayek for the cleanse, which was additionally like, the best factor as a result of we had an enormous superstar. That was how we form of inserted ourselves into the juice development. That was form of our entry into that.
I made all of the errors. The primary few years you have been underneath the radar, and I don’t have that many shoppers. So all of the errors you can also make, I made. I additionally realized methods to do every little thing within the retailer. I realized what recipes labored, I realized what didn’t. However most significantly, I realized methods to standardize the enterprise. I had an important group and I had advisors are available and educate me. So by the point I used to be prepared to start out increasing and opening faster, and having more cash to construct dearer shops, I had it down and I knew methods to practice folks and I knew methods to standardize. So I used to be in a great area; all these years have been like my schooling within the juice enterprise.
Inform me about two errors you made.
I may inform you about 100—decide your favorites. I had a number of luck introducing superfruits to start with. Like I discussed, we have been the primary to convey Sambazon into town. I heard mangosteen was going to be allowed into the U.S.; at the moment, it was banned. So it had a really romantic, horny vibe to it.
I had a number of hustle. I known as a farm in Southeast Asia, and acquired mangosteen. We received a number of consideration for that, so I used to be feeling myself somewhat bit. A farm had reached out to us about aronia berries, and I believed aronia berries can be the subsequent huge factor. We purchased a whole crop of aronia berries at nice expense, and nobody may have cared much less about aronia berries. We couldn’t give them away.
After which a 12 months later, we did an enormous take care of jackfruit—no person cared, not good. That form of ended my superfood sleuthing, and my want to search out and introduce fruits. Huge errors come if you’re feeling your self, and also you’re on a roll and also you suppose you possibly can hold going.
I don’t suppose you possibly can construct a well being routine by following tendencies. And I don’t suppose you possibly can construct a robust enterprise primarily based on tendencies. So I by no means considered constructing this enterprise as a development. There have been so many companies from out of state coming and opening in New York and shutting. It’s simply form of the pure trajectory of juice. I believe those that had loyalty and have been genuine—that means us—stored their prospects. I believe those that didn’t have been form of fly-by-night and primarily based on a development, and we noticed them shut.
So how does your retailer thrive in a precarious atmosphere?
I requested myself that rather a lot after COVID, as a result of it was a troublesome couple of years. We’d spent an incredible sum of money on company shops in workplace areas. Our prime 5 shops all had large opening prices and a giant fats lease each month. Clearly, these have been the shops that took the largest dip for us, which actually affected us throughout COVID and thereafter. However we did see final 12 months, the numbers got here again properly, and we hit the place we have been in 2019. And this 12 months, year-to-date, our same-store gross sales are up 8%. For a enterprise that’s 25 years previous, it’s extraordinarily gratifying. I believe once more, authenticity, and simply being continuously evolving, and providing folks what they need and a great high quality product—that’s the important thing.
What retains you New York-centric?
I do know the market very well. I’ve been right here over 30 years; I really feel actually comfy right here. I do know our buyer. That’s the place I wish to be; that’s my choice. I’ve ventured out earlier than and appeared in different markets, and truly signed leases in different markets, however I at all times pulled again on the eleventh hour. I stepped into Los Angeles for a bit in 2019, and signed a few leases, however I pulled out earlier than we did development, and I used to be so grateful to have executed that.
It’s powerful to open three or 4 shops in a giant market like Los Angeles, similar to I believe it’s powerful for opponents to return from out of state and attempt to tackle the New York Metropolis market. Each fast-casual restaurant surviving in New York Metropolis is a badge of honor. It’s an actual wrestle. I believe folks don’t know what to anticipate. There’s excessive lease, and I believe a New York Metropolis buyer could be very refined. I’ve seen so many juice ideas come right here and discover that it’s actually powerful to make it. And I believed the identical for us in Los Angeles.
To what do you attribute your lasting success?
I’m totally engaged, I’m attentive, and the general public that run the corporate have been with me for over 10 years. We’ve been in a relationship with our buyer for 25 years. Like all relationship, it has to develop, and it’s a must to take note of it. Typically we put issues on the market that don’t work, however we’re at all times attempting, evolving and altering. And it’s a long-term relationship with New York, and we’re very respectful and conscious of that.
Is there a sure monetary outcome or variety of retailer closures or worker turnover or peak of margins that will make you rethink taking VC cash?
I might, if the deal have been proper. I’m not saying I’m not above that. I positively would. I simply don’t suppose I’m the individual that’s going to go and open 300 Juice Generations in strip malls and airports. It’s not my factor. However I imply, if I believe it’s the best alternative….
Jamba Juice nonetheless exists. I believe they’re the airport. That’s their important station. Once I was nonetheless carrying my apron, and had three little places, Jamba Juice arrived, and it was terrifying. They took huge actual property; they opened like 15 large shops.
Manufacturers have gotten bolder and bolder. Many manufacturers are available—now we have them open instantly beside us, in the event you may consider it. However you see manufacturers that simply cease evolving and listening to what prospects need. That’s the hazard that giant manufacturers face: Once you develop so huge, and also you don’t hearken to your buyer, you lose your method and lose your values. That’s what I don’t wish to have occur.
How does the Ozempic craze determine into your enterprise?
I don’t suppose you possibly can construct a wholesome way of life on a development. And like I stated, I didn’t construct a wholesome enterprise primarily based on a development. So I believe folks at all times come again to one thing that works, one thing that’s wholesome. And I believe good vitamin is key to anybody’s well being routine. And I believe that’s what we provide—one thing scrumptious and wholesome. That’s what I’d say about tendencies basically.
I additionally don’t suppose it’s been round lengthy sufficient to know but if individuals are utilizing these medication after which consuming Huge Macs of their automobile. You must hope and assume that people who find themselves so fascinated by shedding pounds consider this as a way of life, not like ‘I’m going to have a smoothie, and I’m going to be skinny tomorrow.’ That’s clearly not the case, so it’s a must to hope that one goes with the opposite.
I additionally suppose the notion that our buyer base is individuals who wish to be skinny is inaccurate. That’s not our buyer base. My important mission for the final 25 years has been to make juice accessible to all people. I believe after I’m in a very busy retailer, I see that our buyer is everybody: cab drivers. Folks strolling into work. Younger mothers. Yoga followers. Hedge fund guys on their break. It’s an actual cross-section, and I don’t wish to be an elite enterprise that caters to 1 demographic. I believe so many individuals are our prospects.
Have you ever or will you quickly attain a pure ceiling if you not really feel the necessity to develop? And if that’s the case, what occurs then?
There’s a lot room for us to develop in New York—in Brooklyn, Queens, the Bronx, and Lengthy Island. We’re searching for area in New Jersey now. When issues come about which might be fascinating, and that I join with, and look like they inform an important story for the model, I’m in. I don’t ever wish to match a cookie-cutter mould. That’s what I personally wish to keep away from. If anyone else desires to step in and assist with that, maybe we might take into account it, nevertheless it’s simply not my factor. As a enterprise proprietor, as a creator, it’s simply not my curiosity. I’m not saying I’m completely averse to it. We simply must be proper, and I’ve had a number of talks, nevertheless it hasn’t been proper.
Did you take into account closing the doorways of low-performing shops in the course of the pandemic?
By no means even once they weren’t bringing in any enterprise. By no means. As a result of that was my cash. I funded it. When it’s your individual cash that you just’re placing within the shops, it’s severe. We spent some huge cash to construct these shops out. I by no means ever considered closing them, ever. It’s so private to me. It’s one thing I spent years of my life on. Oftentimes, the shop took two and a half years to construct. So it turns into very private if you spend that a lot time constructing it.
What have been you doing for work if you have been 25?
I used to be educating swimming classes full-time. I used to be a aggressive swimmer in my youth. It was the one factor I knew what to do.
How did you refuel after swimming?
Sleep. Should you’re within the water with youngsters for 10 hours a day, and your again itches, and your hair is all scratchy due to chlorine, you’d go dwelling and go to mattress. I labored seven
days every week, and I didn’t have a well being routine at the moment. I used to be within the pool all day—very bodily. And I saved each single penny, till I had $120,000. That’s how I opened Juice Technology in Hell’s Kitchen.
How previous have been you if you opened that first location?
I used to be 27.
What mistake do as we speak’s 27-year-old entrepreneurs make that makes you wish to shake them by the shoulders?
They attempt to scale instantly. Study your enterprise, know methods to do every little thing. Lead folks. If I didn’t know methods to make the juice. I really feel I might really feel like a fraud right here. They must know that something that they’ve executed. I’ve executed that. I’ve taken out trash, I’ve cleaned bogs. I developed the recipes. I can soar on a juicer like all people else. I’m inferior to they’re. However I can.
I labored—you understand what I’m saying? I wasn’t a man with cash. I used to be the man who needed to work as a result of I wasn’t capitalized. So I realized the enterprise. I knew it in and out. And I knew my buyer too, as a result of I used to be compelled to connect with the shopper. I used to be the one man within the retailer.
Had Juice Technology not gotten off the bottom, what would you could have executed?
I used to be going to be a companion in a swimming college. And I might most likely have some kind of swimming enterprise educating youngsters methods to swim. I taught particular wants youngsters methods to swim for 10 years. I liked it, however I needed to be on 100%—particularly with particular wants youngsters, you possibly can by no means cellphone it in.
How nice wouldn’t it be if Juice Technology had little stands subsequent to the general public swimming pools in New York Metropolis?
It will be nice. It will be nice.
What’s your secret to success?
Caring for myself. I’m actually concerned and related to the enterprise. The key is loving what you do and waking up and eager to be there and being excited after 25 years. That doesn’t occur by chance. I’ve to work to attach and encompass myself with good people who find themselves like-minded.
