California Manufacturing Technology Consulting® (CMTC) recently provided strategic planning training to Oakland Fortune Factory to help the company identify their business challenges and opportunities to optimize growth.
Oakland Fortune Factory is one of the oldest fortune cookie makers in the San Francisco Bay Area, and one of the last companies that still makes their products entirely by hand, combining modern flavors with centuries-old craftsmanship. The factory opened in 1957 and was acquired by Alicia Issvoran’s parents in 2016. After graduating from college, Alicia returned home to help her parents keep the operation going. Now, Alicia co-owns the business with her mother. The company has been featured in the New York Times, on ABC News, and in other regional and national media.
After the mother-daughter team took over Oakland Fortune Factory, Alicia’s mother supervised the cookie-making while Alicia focused on creating new cookie combinations and building the company website. The business was significantly impacted by the pandemic, experiencing a 60% reduction in orders. Looking to increase their sales, Alicia and her mother sought out new retail customers for less-than-truckload (LTL) cookie shipments. In addition, they looked for opportunities with their corporate customers, offering an option for specially branded cookies that their customers could order online for upcoming events or to distribute to their employees or clients. Alicia and her mother reached out to CMTC for assistance with these new endeavors, specifically seeking resources, strategic planning, and business growth consulting.
CMTC worked with Oakland Fortune Factory through the California Manufacturers Accelerator Plus® (CMA+) Program. A CMTC delivery resource worked with Alicia to identify the company’s business challenges and provide one-on-one coaching as well as information about available funding and incentives. CMTC helped Oakland Fortune Factory with strategic planning and provided the company with avenues for business growth.
After completing their work with CMTC, Oakland Fortune Factory realized a sales increase of $79,872 and reported cost savings of $37,920. The company was also able to make capital investments of $44,025, retain five employees, and add one employee. Owner Alicia Issvoran noted that she looks forward to working with CMTC in the future.
For more information about CMTC’s services, contact Rachel Miller at rmiller@cmtc.com or 310-984-0096.
About California Manufacturing Technology Consulting® (CMTC)
Established in 1992, California Manufacturing Technology Consulting® (CMTC) is a private non-profit organization that provides technical assistance, workforce development, and consulting services to small and medium-sized manufacturers throughout the state of California. CMTC operates under a number of cooperative agreements with the Federal and State government, the largest of which is with the Hollings Manufacturing Extension Partnership (MEP) of the National Institute of Standards and Technology (NIST) under the Department of Commerce for the State of California.
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Contacts
Rachel Miller, (310) 984-0096
rmiller@cmtc.com
