At Red Rabbit, A Former Wall Street Trader Tries To Make A Profit Selling Healthy School Lunches

 In Scoop.it

Susan Adams
Forbes Staff
Nov 30, 2016

Rhys Powell runs Red Rabbit, which produces nutritious kids’ food made from scratch. Based in Harlem, it serves 100,000 meals a week in 165 pre-schools, Head Start programs, private schools and charter schools in New York City and Westchester County. Now 37, Powell founded the company in 2005 after a stint on Wall Street trading equities. His first idea, selling nutritious kids’ meals to private school parents, hemorrhaged cash. A business-to-business model, selling to private schools, worked better. Then in 2011, an investor offered to put $500,000 into the company and Powell decided to change tacks. Instead of serving privileged private school students, he started selling low-cost, nutritious meals to public programs where he must keep his food costs under $3 per meal. The company employs 100 people and expects 2016 revenue of $10 million. In this interview, which has been edited and condensed, he talks about his early mistakes and the rewards of a career post-Wall Street.

Read full interview here.

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