According to Will Nitze, founder and CEO of IQBar, success in a competitive market requires finding a non-competitive niche. He did it with his flagship protein bar. It’s plant-based, low sugar, and clearly labeled. That was seven years ago when he launched the company with a $75,000 Kickstarter campaign.
Fast forward to 2025 and IQBAR also creates IQMix (Hydration) and IQJoe (Coffee). All promote brain health without competing with each other.
Will and I recently discussed his journey from initial capital appreciation to scaling revenue, adding products, and managing wholesale channels. Audio of our entire conversation is embedded below. The transcript has been edited for clarity and length.
Eric Bandholz: Please briefly explain who you are.
nitze: I’m the founder and CEO of IQBar. Our hero products are nutrition bars, but we also create IQMix for hydration and IQJOE for instant coffee. About 55% of our revenue comes from wholesale. Our consumer e-commerce site and Amazon explain the balance. Since its launch seven years ago, it has raised just under $10 million.
Bandholz: How do you stand out in such a competitive market?
Nitz: The key is to break down the competition into subcategories. In the protein bar market, the saturated category is animal-based ingredients. But by focusing on plant protein, low sugar, and clean labels, you can carve out a much less competitive but still significant space. It’s about finding a non-competitive niche within a broader competitive environment.
I entered this field as a personal passion. I was dissatisfied with my software job and started exploring low carb eating and eventually landed on keto. I was particularly interested in brain food and realized that at the time no one was offering ready-to-eat options. largely brain nutrition It comes in pill or powder form. i started Kickstarter campaign It validated the concept and raised $75,000. From there, we pivoted based on customer feedback and focused on protein and clean label.
The brain angle is useful and differentiating, but it’s not a trade opener, it’s a trade coming up. People shop our products based on protein count (where it comes from and how complete it is) – and sugar.
Our strategy was to expand our product line without cannibalizing our core bar products. Many brands expand their product lines in ways that compete with existing items, such as moving from bars to peanut butter cups. We have developed our new products Hydration and Hydration to complement, not compete with, our bars to align with our brain and body nutrition mission. I wanted coffee. We also considered shelf stability and ease of production.
Bandholz: There are only 9 employees. How do you maintain such a lean team while scaling?
Nitz: It is essential to recognize my weaknesses. I’m not very good at hiring, so I rely on my trusted circle. My wife is our chief marketing officer and head of e-commerce. I maintain close connections with everyone on the team. We use an external agency pay-per-click advertising, search engine optimizationand Amazon Management. We work closely with these partners and our manufacturers to continue to operate smoothly with fewer full-time employees.
You won’t commit to a long-term agency contract without an exit clause. Most agencies operate on annual terms, but allow you to leave a 30 or 60 day notice. We have been working with Amazon Agency for over 2 years. They know our business inside out. We implemented a bonus structure to encourage performance. This deal worked well for both parties because it aligned their goals with ours.
Bandholz: How did you develop your wholesale strategy?
Nitze: Again, our business this year will be 55% wholesale. I particularly believe in an omnichannel approach. Physical store. Digital first is essential to building trust in the retail industry. You can view future retailer data from your e-commerce site, such as the number of customers in your trade area. Brokers play a key role in retail growth, especially as it relates to large chains such as Walmart and Costco.
The key is to work with retailers who pay quickly. For example, Amazon pays every two weeks. Beyond that, it’s important to raise money. Some people idolize bootstrapping, but once you raise money, you can scale quickly. In the early stages, you need capital to fund your inventory, which will be the backbone of your business. Another important key is to have a total margin. This allows you to reinvest in more inventory. Ultimately, scaling up helps maintain cash flow.
Bandholz: Was it difficult to find? Manufacturer?
Nitze: That was a challenge. Our first co-packer – a company that makes food and packaging and labeling – was great for small quantities, but we couldn’t scale it. Eventually, we switched to a co-packer that could handle higher volumes. This process was painful because it meant disrupting quality control. But once you find the right partner, you can expand significantly. We now have a co-packer that can manage millions of units each year, which has been important to our growth.
Bandholz: Where can people contact you?
Nitz: Please contact me through our website, eatiqbar.comor LinkedIn.
