Worcester Business Journal

wbjournal.com | April 29, 2019 | Worcester Business Journal 13 S M A L L B U S I N E S S F O C U S S&G is more than a traditional CPA firm. We have industry-specific expertise and offer a wide range of innovative services to make an impact on your business including: • State Nexus Study • International Taxation & Transfer Pricing • FAR/CAS Compliance Accounting • Operational Finance Review • ERP Implemantation • Strategic Planning • Research & Development Credits • Investment Tax Credits S&G is part of a nationwide affiliation of independently owned accounting firms who demonstrate expertise and focus in working with manufacturers. If you are looking to improve the performance of your company, grow profitability and create greater business value, contact us today. Manufacturers and Distributors have unique needs. They must rely on partners that truly understand their business. 508-757-3311 • www.sgllp.com WORCESTER FRAMINGHAM HYANNIS You Need a Partner that Understands Your Business population currently 42.4% white. at diversity helped increase the demand for Monsoon's food. e company now partners with cafeteria food providers, which Elavia estimates offer her products in more than 10,000 college, hospital and corporate cafeterias. Despite penetrating the niche market of college cafeteria food service, Elavia's business lived on the edge for the first few years. "ose first five years were not good," she said, recalling the annual debate on whether or not her business was going to remain sustainable. Production continued in Somerville until 2012 when it became clear Monsoon would not continue to grow unless a drastic change was made: either invest heavily into the Somerville site or outsource that production. Ultimately, Monsoon's home of seven years was le behind in favor of contracting out the product manufacturing operations to efficient co-packers in Pennsylvania, North Carolina and Maryland. What previously took two days now takes a few hours thanks to heavily-automated machines. "We improved our margins about 8% or 9% when we moved to a co-packer," she said. Since that move in 2012, Monsoon has grown about 400% as it nears $5 million in annual sales. Nelson, from the SBA, said Monsoon is poised for explo- sive growth aer Elavia completed the Emerging Leaders program. At the end of the program, the 19 participants pitched their three- year growth plan to an expert panel. Nelson was on the panel for Elavia's pitch, which received the highest scores. Her identity not only as a woman, but as a person of color, makes her success story even more impactful, Nelson said. "She has tremendous opportunity for success when you look at the background and industry experience she has," he said. "She was definitely one of the stars of the program." Hitting the market at the right time Elavia is on the right track, as the market for vege- tarian food – of which Indian dishes are largely made – grew by 20% over 2017 with U.S. sales topping $3.3 billion last year, according to a Nielsen study commis- sioned by the Plant Based Foods Association. It's a drastic change from 37 years ago aer Elavia and her husband first moved to the U.S. and settled in North Carolina, when finding Indian food was tough, she said. Elavia said the increase in the number of Indian immigrants has played a role in the rise of demand for Indian food. In 2015, there were just under 4 million Indian immigrants in the U.S., up more than 109% from 15 years prior, according to a 2017 report from Pew Research Center. Monsoon's products rarely ever penetrate Indian food markets because most of that food is imported and Ela- via can't compete on price. For now, she's banking on the American consumer's evolving opinions on vegetarian and ethnic foods, but she's keeping the U.S. consumer's eating habits in mind. "I might do some Indian-style pizzas," she quipped. Samosas • Vegetable samosas • Chicken samosas • Spinach and cheese samosas Basmati rice bowls • Coconut shrimp curry • Black-eyed pea masala • Butter chicken • Vegetable masala Monsoon Kitchens products Source: Monsoon Kitchens W

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