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What is a food trader? Keith Schare joins F&B Talk to explain where this niche business fits in the F&B industry chain. He explains how they work with growers, manufacturers, and importers to buy and sell bulk ingredients and specialize in helping companies liquidate products they can no longer use. Keith discusses the impact they have on reducing food waste, supply chain issues, finding warehouse space, the costs of trucking, and the importance of listening to your gut instincts and learning from mistakes.
“When you know something doesn’t feel right, step back before you move on and really listen to your gut. This comes from making mistakes and later remembering those mistakes. You go into the world, you get burned, then you step back and learn.”
Keith Schare
In this Episode
1:34 What is the business model of JuiceDeals.com?
5:17 Why might sellers need to sell off inventory other than when they are stopping a product line?
8:02 How quickly does JuiceDeals.com turn inventories around?
9:02 Who are the typical buyers of bulk inventory of produce?
11:25 What are the top food items that come up for sale?
12:34 How is JuiceDeals.com different from a broker or distributor?
15:07 Are supply chain issues still impacting JuiceDeals.com?
19:04 How have transportation costs impacted the cold chain?
20:50 What are some of the current trends in the F&B industry?
23:20 What statistics does JuiceDeals.com track regularly? How are these stats used?
24:30 What’s the most important lesson Keith has learned from his business?
28:07 Keith’s advice on business and customer service.
Keith Schare owns Schare & Associates, Inc., formed in 1997. Keith started in the fruit concentrate business in 1992 and has worked with thousands of customers and suppliers through the years. They have JuiceDeals.com, where they act as a food trader, buying and selling imported and domestic frozen juices, fruit concentrates, and related ingredients. They sell small batches and bulk ingredients mainly to smaller manufacturers. They also specialize in helping companies liquidate items they can no longer use and sell discounted products. Keith has a bachelor of science degree in finance from the University of Albany at Suny.
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