10 Ideas that Earned $100 Million

#7 Tom’s of Maine

Master Brains: Tom and Kate Chappel

In 1968, Tom and Kate Chappel moved to Maine in order to have a more simplified life. There they found it difficult to have natural, unprocessed food and other products. As it is said, ‘necessity is the mother of invention', they decided to create and sell what they were looking for themselves.

They started their new business Tom’s of Maine in 1970, boorowing $5,000; manufacturing and selling from natural shampoo and personal care products to natural food products. Their breakthrough, which was yet to hit, came five years later when they launched their now leading product, Tom’s of Maine toothpaste.

In the year 1999, the sales of Tom’s of Maine surpassed $40 million. In 2006 Colgate Palmolive bought 84 percent of the company stock for $100 million. The Chapels didn't rest tired as they have started recently their new business venture, Rambler’s Way Farm. The new company manufactures wool garments.