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Ben and Jerry's

Entrepreneurship
by

Christina Fortini

on 24 January 2013

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Transcript of Ben and Jerry's

BEN AND JERRY'S

BY MARIE, CHRISTINA, CHASE, AND EMMETT Early Life They had immediate success and in the next five years, franchises began to open in neighboring states Success and Competition Ben Cohen Jerry Greenfield Born in Brooklyn, New York, on March 14, 1951 The Big Idea Their original idea was to start a business that sold bagels on Sundays called the United Bagel Service The Beginning of the Business Born on March 18, 1951 in Brooklyn, New York After high school, began college career at Colgate University The summer between freshman and sophomore year of college, he served ice cream out of a Pied Piper truck, and after the second semester of his sophomore year, he dropped out and moved to Long Island 1971-1974 attended the University
Without Walls at Skidmore College,
he moved to Saratoga Springs, New York,
where he planned to go into business
with Jerry Greenfield. Attended Calhoun High School , where he met Ben He graduated from Oberlin College, and applied to medical school twice, failing to get in He moved to North Carolina and later married Elizabeth Skarie In 1979, he moved to New York with Ben and they decided to pursue their dream of starting a business They moved to Burlington, Vermont and remodeled an old gas station, which would later become their ice cream shop Once they made their decision, they decided to take a $5 correspondence course in ice-cream making at Penn State With a $12,000 investment, they opened the ice cream shop on May 5, 1978 By 1984, it was so famous that it became a threat to larger businesses in the industry Häagen-Dazs tried to limit the sales of their ice cream in Boston. Ben & Jerry's filed suit against them and Pillsbury. The"What’s the Doughboy Afraid Of?" campaign began That year they had sales over $4 million, and in 1985, their sales exceeded $9 million Ben & Jerry's Foundation In 1985 they founded the Ben and Jerry's Foundation, which funds community projects Ben and Jerry had always both had an interest of food, so they decided that their business would involve food After researching the start up costs, they decided to go into the ice cream business The foundation receives 7.5 percent of the company's yearly profits The foundation sponsors causes like the National Grass Roots Grant Program and the Vermont Capacity Building Grant Program. In 1988, Ben and Jerry’s was formally recognized when the Council on Economic Priorities awarded them with the Corporate Giving Award based on their work with their foundation They were also honored when President Reagan and the United States Small Business Administration named them the United States Small Business Persons of the Year Their Mission Throughout the next ten years they used their products to address social and environmental issues They worked with other groups to address issues including education, the use of hormones in food, health care, global warming, and alternative uses for government weapons spending. This helps with their products mission. Ben and Jerry had three missions for their brand.
1. Social Mission
2.Product Mission
3.Economic Mission Their social mission recognizes the central role that business plays in society and to improve the aspect of life locally, nationally and internationally. Economic Mission is to run their business to the most profitable growth for their stockholder and employees. Selling the Business On April 12, 2000 they failed to return to a private business. They sold their company to the Unilever Corporation
for $325 million. Ben and Jerry continue to give to 1% For Peace and to the Ben & Jerry Foundation Unilever granted $2 million to the Foundation for community-oriented projects and other non-profit organizations This sale is unique in that it contained provisions to allow Ben & Jerry's to maintain its existing social mission and brand identity. Ben and Jerry Today Ben has put his wealth to use in founding such groups as True Majority and Business Leaders for Sensible Priorities, both of which are active in advancing social and political causes Jerry is currently the President of the Trustees for the Ben and Jerry Foundation. They also both present speeches and lectures throughout the United States through the Greater Talent Network. BEN & JERRY'S TODAY Today there are over 5,000 locations Their annual revenue is about $132 million There are over 90 different flavors Ben and Jerry's Most Popular Flavors 1. Cherry Garcia 2. Chocolate Chip Cookie Dough 3. Chunky Monkey 4. Chocolate Fudge Brownie 5. Half Baked THE END
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