According to Will Nitze, founder and CEO of IQBAR, success in a competitive market requires finding non-competitive niches. He’s done it with his flagship protein bar that’s plant-based, low in sugar and clearly labeled. That was seven years ago when he launched the company with a $75,000 Kickstarter campaign.
Fast forward to 2025 and IQBAR also makes IQMIX (hydration) and IQJOE (coffee). They all support brain health without competing with each other.
Will and I recently discussed his journey, from raising initial capital to scaling revenue, adding products and managing wholesale channels. The full audio of our interview is embedded below. Transcript edited for clarity and length.
Eric Bandholz: Give us a quick overview of who you are.
Will Nitze: I am the founder and CEO of IQBAR. Our hero product is the nutrition bars, but we also produce IQMIX for hydration and IQJOE for instant coffee. Roughly 55% of our revenue comes from wholesale; our direct-to-consumer e-commerce website and Amazon account for the balance. We have raised just under $10 million since our launch 7 years ago.
Bandholz: How to stand out in such a competitive market?
Nice: The division of the competition into subcategories is key. Animal ingredients are a saturated category in the protein bar market. But by focusing on plant-based protein, low sugar and clean labels, you can carve out a space with much less competition, but still a sizeable one. It is about finding non-competitive gaps in a wider competitive environment.
I got into this space as a personal passion. Dissatisfied with my software job, I began researching low-carb diets, eventually landing on keto. I was particularly interested in brain food and noticed that no one was offering ready meals at the time. Most brain nutrition comes in pill or powder form. I launched a Kickstarter campaign that raised $75,000, proving the concept. From there, we pivoted based on customer feedback and focused on protein and clean label.
The brain angle is useful and differentiated, but it’s closer to a deal, not a deal opener. People buy our products based on the protein count – where it comes from and how complete it is – and then the sugar.
Our strategy was to expand the product line without cannibalizing our core bar product. Many brands are expanding their product lines in ways that compete with their existing products, such as moving from bars to peanut butter cups. We wanted our new products—hydration and coffee—to complement our bars, align with our brain-body nutrition mission, but not compete. We also consider storage stability and ease of production.
Bandholz: You only have nine employees. How do you maintain such a lean team while scaling?
Nice: Realizing your weaknesses is essential. I’m not great at hiring so I rely on a circle of trust. My wife is our chief marketing officer and head of e-commerce. I maintain a close connection with everyone in the team. We use external agencies for pay-per-click advertising, search engine optimization and Amazon management. We work closely with these partners and our manufacturer to ensure smooth operations with fewer full-time employees.
We never commit to long-term agency contracts without an exit clause. Most agencies operate on an annual basis, but we make sure we can leave with 30 or 60 days notice. We have been working with our agency Amazon for more than two years; they know our business inside out. We have introduced a bonus structure for them to motivate them to perform. This deal worked well for both parties because it aligned their goals with ours.
Bandholz: How did you develop your wholesale strategy?
Nice: This year too, our business will be 55% wholesale. We believe in an omnichannel approach, especially brick-and-mortar retail. Digital-first is essential to building credibility in the retail world. We may display potential sellers’ data from our e-commerce site, such as the number of customers in their business area. Brokers play a key role in the growth of retail, especially those associated with large chains such as Walmart and Costco.
The key is working with retailers who pay quickly. Amazon, for example, pays every two weeks. In addition, it is important to raise money. Some people love bootstrapping, but fundraising allows you to scale quickly. In the early stages, you need capital to fund the inventory that becomes the backbone of your business. Another key is a high gross margin, which allows you to reinvest in more inventory. Ultimately, scaling helps maintain cash flow.
Bandholz: Was it difficult to find a manufacturer?
Nice: It was a challenge. Our first co-packer—a food packaging and labeling company—was great for small volumes, but couldn’t scale. We eventually switched to a co-packer that could handle higher volumes. The process was painful because it meant compromising quality control. But once we found the right partner, we were able to scale significantly. We now have a co-packer that can manage millions of units per year and that has been critical to our growth.
Bandholz: Where can people contact you?
Nice: Contact me through our website, EatIQBar.com or LinkedIn.