Tom First is no ordinary entrepreneur. He's the guy who knows how to whip up a killer beverage, and he's got a passion for crafting memorable brands. His adventure, from the days of Nantucket Nectars to his latest project, Culture Pop, is a tale of grit, vision, and a whole lot of fun.
Starting from Scratch with Nantucket Nectars
Tom's story starts back at Brown University, where he crossed paths with his partner in crime, Tom Scott. While most of their buddies were chasing corporate gigs in the Big Apple, these two had different plans. They shared a deep love for Nantucket, a place where they'd spent many summers growing up. Post-graduation, they set their course back to the island.
One winter night in the late '80s, Tom First got tinkering with a blender in his house. He was on a mission to recreate a peachy beverage he'd fallen head over heels for during a trip to Europe. This wild experiment gave birth to an idea: why not bottle and sell this unique concoction from their convenience store, Allserve, to the folks in Nantucket Harbor? And voilà, Nantucket Nectars was born, sliding perfectly into the "New Age Beverages" category.
Their journey wasn't all sunshine and rainbows, though. They scraped together enough funds for their first big product run – 1,400 cases at the cost of $9,000. Times got tough, with Tom First even resorting to crashing in his car when money was tight. But a stroke of luck came their way when they reached out to Michael Egan, the yacht owner whose vessel they used to clean. Egan saw potential and tossed a cool $1 million into the pot for a 50% stake in their business.
As Nantucket Nectars kept on growing, they ventured into distribution, but the distribution game wasn't quite their jam. So, they decided to go all-in on their product, and that turned out to be a game-changer. Nantucket nectars got acquired by Cadbury- Schweppes for a reported $80M.
Lessons Learned Along the Way
The Nantucket Nectars journey was like a masterclass in building a successful company. Tom and his team realized the power of surrounding themselves with great people and nurturing a vibrant company culture. The first ten folks who jumped on board set a high bar, and that attracted more like-minded talent, shaping the company's culture into something truly special.
Enter Culture Pop: The New Chapter
Tom's entrepreneurial journey didn't stop at Nantucket Nectars. His latest venture, Culture Pop, was sparked by a delicious idea. He stumbled upon unique mocktails while dining out with his kids and thought, "Hey, why not make a soda with honest ingredients that actually tastes good?"
Culture Pop is primarily funded through TF Ventures, signaling Tom's dedication to investing in exciting food and beverage ventures. With Culture Pop, he's carrying forward the lessons he learned from Nantucket Nectars, especially the importance of building a strong team and cultivating a vibrant company culture.
As Tom juggles family life, Culture Pop, and TF Ventures, his story is a testament to the magic that happens when you blend passion, vision, and the determination to keep things lighthearted in the world of entrepreneurship.
Tom First's journey is a beacon for all aspiring entrepreneurs, showing that you can craft amazing brands, even without a formal business degree. It's a reminder that resilience and a passionate team can help you turn wild ideas into something extraordinary. From Nantucket Harbor to Nantucket Nectars and now Culture Pop, Tom First's adventure reminds us that the business world can be fun and full of surprises.
