Building a Nutrition Business from Inception to Sale with Chloe McLeod

From Inception to Sale: Building a Nutrition Business with Chloe McLeod

Building a successful and profitable nutrition business is a journey filled with unique challenges and rewarding milestones. In the latest episode of "How to Build a Profitable Nutrition Business," we had the pleasure of speaking with Chloe McLeod, a renowned dietitian and entrepreneur. Chloe's insights and experiences provide invaluable lessons for anyone looking to navigate the complexities of the nutrition business landscape.

Starting with a Vision: The Inception of a Nutrition Business

Chloe McLeod's journey began in 2009 when she first became a dietitian. Over the years, she gained extensive experience across various sectors, including private practice, high-performance sports, public health, and the food industry. This diverse background equipped her with the knowledge and skills to create innovative nutrition programs that address specific health needs. I’m not sure I have met a dietitian who has navigated and mastered the various fields of dietetics like Chloe has.

One of Chloe's notable ventures was the FODMAP Challenge, an online platform designed to help individuals manage IBS through a structured, dietitian-supported approach. Chloe identified a gap in the market and leveraged her expertise to develop a program that offered both accessibility and professional guidance. As she explained, "The idea was around supporting people through the process and then helping them to reintroduce higher FODMAP foods back into their diet in a structured way, resulting in better health outcomes at a lower price point."

Scaling for Success: From Initial Growth to Sale

Chloe's ability to identify market needs and create tailored solutions played a crucial role in her success. However, she also recognized the importance of knowing when to step back. "I didn't have the capacity to keep on focusing on that platform with all the other things going on in my life," she shared. This realization led her to sell the FODMAP Challenge to Healthy Life, a subsidiary of Woolworths, ensuring the program continued to thrive under new management.

Her experience with the FODMAP Challenge taught her valuable lessons that she applied to her subsequent business, Verde Nutrition. Chloe's strategic approach from the outset was clear: "The plan was never to keep this thing forever but to sell it eventually." This foresight influenced her decisions, from building a strong team to establishing robust systems and processes.

The Sale Process: Key Insights and Strategies

Selling a business is a complex process that requires careful planning and execution. Chloe's journey with Verde Nutrition exemplifies this. After starting Verde in January 2022, she quickly scaled the business by leveraging her existing network and expertise. By March 2023, she had successfully sold Verde Nutrition to Guardian Exercise Rehabilitation, a testament to her strategic vision and effective execution.

Chloe's advice for those looking to sell their businesses is invaluable:

1. Financial Expertise: "Having an accountant or someone who works in mergers and acquisitions can save you hundreds of thousands of dollars," Chloe emphasized. Their expertise is crucial in navigating the financial intricacies of a sale.
2. Legal Clarity: Ensuring that contracts are clear and unambiguous is vital. Chloe advised, "The more simple, the better. When things aren't happy, clear agreements make life significantly easier."
3. Team Management: As your business grows, the way you manage it must evolve. Chloe highlighted the importance of adapting to different stages of business growth, from a small team to a larger organisation.

Building a Thriving Team and Client Relationships

One of Chloe's strengths is her ability to build and maintain strong relationships with her team and clients. She attributes this to empathy and a genuine interest in her team's well-being. "Looking out for their best interests above everything else and talking to them about what's best for them is key," she noted.

Chloe's approach fosters a positive and supportive work environment, which is crucial for long-term success. Her team members appreciate her dual role as both a mentor and a friend, a balance that helps create a cohesive and motivated team.

Lessons for Aspiring Nutrition Entrepreneurs

Chloe McLeod's journey from inception to sale offers a wealth of insights for aspiring nutrition entrepreneurs. Her ability to identify market gaps, build innovative solutions, and strategically plan for growth and sale are key takeaways for anyone looking to build a profitable nutrition business. As Chloe aptly put it, "Your business is another person with a seat at the table. Making decisions that are best for the business, not just yourself, is crucial."

For those looking to follow in her footsteps, Chloe's experiences underscore the importance of strategic planning, financial and legal expertise, and strong team and client relationships. By embracing these principles, you too can build a thriving and profitable nutrition business.

Tune in to our regular podcast "How to Build a Profitable Nutrition Business" for more insights and expert advice from leading professionals in the field.