Tell us about your company.
Askinosie Chocolate is a small-batch, bean-to-bar chocolate factory. ... We sold our first chocolate bar in May 2007. ... We share profits with farmers, and we're a part of the neighborhood in which we make chocolate. We have eight different chocolate bars from three different origins ... Ecuador, Mexico and Davao, Philippines. We specialize in dark chocolate. We're one of only a handful of true bean-to-bar chocolate factories in the United States, and maybe one of two handfuls in the world. We're the only small-batch chocolate makers in North America to make white chocolate from scratch. ... Another product that's very unique is our cocoa powder. ... We have five employees, three interns and volunteers - friends or retirees who want to come and help out.
How is running a law firm different from owning a chocolate factory?
I use a lot of the skills that I developed (in my) law practice, in my current manufacturing practice. The biggest difference - and this is a huge difference - is that as a lawyer, the only thing I really had to worry about breaking was the copier. Now, as a manufacturer, almost everything (in the factory) has broken down at one point or another, so it's a constant source of learning.
Where is your chocolate sold?
We sell (wholesale) to specialty food stores around the country. Most of these are independent, family-owned small businesses in everywhere from Brooklyn (N.Y.) to Berkeley (Calif.). ... We also sell to distributors in foreign countries by the metric ton. We export to Canada, the United Kingdom, Sweden - and in Sweden, we sell throughout Scandinavia - Australia, and our most recent shipment was to Singapore (in July). ... Our distributor in Singapore is opening an Askinosie Chocolate boutique in Singapore - the first store outside of (Springfield) called Askinosie Chocolate.
Where else would you like to be able to harvest beans?
A fourth origin is definitely on the horizon, and it will probably be somewhere on the African continent. We're starting an expansion of our Chocolate University ... a partnership with Boyd Elementary School and Drury University ... to Central High School. ... Eventually, we're going to involve Chocolate University kids from Central in helping us select an origin in Africa.
With pricing at $8 for a 3-ounce bar, how is the recession affecting business?
We began exporting to Europe before the recession really took hold. That allowed us to take advantage of a weak dollar against a strong European currency (and) allowed us to begin to diversify and not (strictly) depend on the U.S. economy for our revenues. We decided to develop a product, the Itty Bar, a package of two, 7-gram bars that retails for a dollar. ... That's one product that's extremely popular around the country, I think, in light of the recession. ... In the most recent data that I've looked at, our sales are up 40 percent. ... We had to lay a few people off, right at the beginning of the fourth quarter. ... I would say it's the most difficult thing I've ever done in my professional career.
Tell us about the exposure you've had with Fox News.
I've been on there almost 20 times. ... There was a story that came out in Entrepreneur magazine, and ... ultimately, some people in New York saw it, and contacted me, and I did a TV appearance for NBC in Chicago. Somebody saw that appearance, and it snowballed. There was a show starting on Fox Business Network called "America's Nightly Scoreboard" ... and the host of that show, David Asman, had me on one time. ... He and I clicked, and I think he liked the perspective I brought ... talking about small business, so they have me on ... probably twice a month now.
What advice do you have for someone who is considering entrepreneurship?
Don't underestimate the capital that's required to do it, and don't underestimate the labor. Even having said that, it's impossible. You're going to underestimate. ... Do your research and your homework, but don't be afraid to take the leap. The other thing I think is important is to ... make sure that your family supports you.[[In-content Ad]]
