Thread by @chrisxmunn

In 2007 3 friends at Georgetown wanted a quick & healthy meal but couldn't find one.

So they started Sweetgreen.

Today, they've built a $2.7B salad unicorn...by selling everything except salad.

Here's the story 🧵

Jonathan Neman, Nicolas Jammet, and Nathaniel Ru met in entrepreneurship class at Georgetown Univerity.

They wanted healthy meals on the go but couldn't find any near campus.

So they founded Sweetgreen. 🥗

The 3 graduated in May of 2007 👨‍🎓👨‍🎓👨‍🎓.

With a $300k investment from mostly friends and family, they were able to open their 1st store that August.

It was in a tiny shack on M street in DC, but the seeds were planted.

Now salads aren't new or sexy...so how did they build Sweetgreen into a $2B company?

By not selling salads.

Sweetgreen is in the business of selling an ethos and a lifestyle. The salads are a byproduct of that ethos.

Sweetgreen highlights this every chance they get.

Here is their company mission:

"Building healthier communities by connecting people to real food."

Just take a look at the Sweetgreen Instagram.

The curation and selection of images makes you believe you are getting more than just a $12 salad.

It shows you care about your lifestyle and image.

Apple, Peloton, Starbucks and Nike are great examples of companies that sell a lifestyle.

And they are all the leaders in their respective industry.

Anyone can sell coffee, but Starbucks sells an experience.

Sweetgreen does the same.

This is extremely effective and a masterclass in marketing.

When you sell a product that is not that much different from your competitors, you have to sell something else.

Sweetgreen has perfected that.

A quote from Lisa Gansky states it best:

"A brand is a voice and a product is a souvenir."

So next time you buy a salad from Sweetgreen, all you're buying is a souvenir from the entire experience.

As Sweetgreen prepares to go public with a valuation close to $2.7B, there will be questions on how large the salad market is.

That is to be determined.

But Sweetgreen should be commended for taking boring old salads and turning them into a lifestyle brand.

I'm Chris.

I send my community 2-3 threads a week of breakdowns just like this one.

Come along for the ride.

👉 @chrisxmunn 👈

TL;DR

Sweetgreen turned an indsutry on its head by selling everything except salads.

Sweetgreen sells a lifestyle.

And that lifestyle is where they have created value.

It has propelled them into a $2.7B valuation.