The History of Nantucket Nectar Started

Tom Scott and Tom First met while students at Brown University

They created Allserve, a floating convenience store serving boat in the Nantucket Harbour
 Sold ice, beer, soda, cigarettes and newspaper

 Pumping waste, Delivering groceries & laundry

1990 - First recreated a peach fruit juice drink.

In spring 1990, the founder decided to hand bottle their new creation and sell them off their Allserve boat.

In the first two years, they invested $17,000 in the company to contract and outside bottler and finance inventory.

Next two year, Nantucket Nectar operated in an undercapitalized state on a small bank loan.

Two founders and Ned Desmond persuaded Mike Egan to invest $600,000 in Nantucket Nectar in exchange for 50% of the company.

The founder use capital to improve distribution and increased inventory.

Distribute the product themselves

To speed the growth, the founders obtain the exclusive right to distribute Arizona Iced Tea in Massachusetts.

Then the founders decided to focus on a simple vision without the help of any outside agencies: create a high quality product sell a persona.

The creation of a unique brand personality based on the start of this company on Nantucket.

Nantucket Nectars focused on creative but mundane ways of creating name recognition at a minimal cost.

The company set up samplings, giveaways, sponsorship for road races and summer sports leagues which usually required only donation of product.

The founders described early mishaps in radio and place messages underneath their bottle caps in order to attract consumer.

Historical Financial of Nantucket Nectar

December 31 of each year Total Revenue Cost of Sales Gross Profit Marketing & Advertising General & Administration Total Expenses EBITDA Amortization & Depreciation EBIT Interenst Expenses Earning Before Taxes Income Tax Expense Net Income (Loss) 1991 $233 172 61 0 82 82 -21 0 -21 0 -21 0 -21 1992 $379 317 62 0 62 62 0 4 -4 5 -9 0 -9 1993 $978 765 213 0 90 90 123 0 123 7 116 0 116 1994 $8,345 6,831 1,514 320 3,290 3,610 -2,096 104 -2,199 53 -2,252 0 -2,252 1995 $15,335 11024 4,311 875 3,344 4,219 91 137 -45 139 -184 16 -200 1996 $29,493 20511 8,982 2,581 5,432 8,013 969 247 722 301 421 52 369