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11
APRIL 2016
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The Canadian Business Journal
the consultants, who are also invited to attend
an annual local conference. Throughout the
year, Steeped Tea offers incentive trips to
places such as Costa Rica and Jamaica. The
company is planning to celebrate their tenth
anniversary in Hawaii.
Incredible growth
backed by sound
business decisions
Jahshan underscores the company’s appreciation
for their consultants as being one of the key drivers
of Steeped Tea’s success.
“It was one of the secrets to her getting off to a
wonderful start,” he says. “The next big secret was
being on Dragons’ Den—that immediately put us in
front of six million viewers. We pushed really hard
to close the deal because a lot of deals don’t close.
The show aired the day after we closed the deal.
Phones rang off the hook, our website crashed and
it did very well for us. To add to all that, we have
their credibility. They did their due diligence, they
signed up as investors and they are part-owners of
the company. I think that Canadians and Americans
recognize that we have serious investors on board
that have really screened this company, when so
many companies don’t make it this far.”
Steeped Tea’s success is furthered by the
dedicated staff in their head office. The com-
pany, which has been recognized by Canada’s
PROFIT 500 program, currently employs 54
people in a 30,000 square-foot facility, and is
continuing to grow.
“I think we’ve made a lot of the right deci-
sions along the way, trying to keep up with
expansion but at the same time not losing focus
on cash flow. One of the worst things you can
do when you have expansion that’s growing this
fast is to throw people or money at it without
having efficiencies in place, because what ends
up happening is that after a few years of doing
things inefficiently it’s very difficult to change
that mindset. From last year to this year we saw
a 40% increase in profitability. As we’re growing
we’re becoming more and more efficient, and
we’re making better use of the money that we’re
generating,” says Jahshan.
In the next five years, Steeped Tea will con-
tinue growth, with a focus on expansion in the
U.S., where their growth rate is even more dra-
matic. The company is also looking into opening
a distribution facility better equipped to help
them meet demand. Moreover, Steeped Tea may
even quadrouple their consultant size. However,
while the company may be growing impressively,
don’t expect to see Steeped Tea products on the
shelves at your local grocery store.
“Our philosophy is that we will never under-
mine our consultants in the field. Anything that
we sell will always go through a consultant. You’ll
never see a Steeped Tea product on a retail or
wholesale shelf. We understand the community
and the entire concept doesn’t work without
consultants,” Jahshan says.
CBJ
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