Some are born into wealth, while others work themselves to the bone to make it by. Becoming a millionaire is a difficult task for anyone, even those born into it. But becoming a millionaire from nothing, losing it all, and building it back up again is one of the most inspirational things a person can do.
Peter Tri is one of the few people in the world able to tell an inspirational story as such. Here's how the self-made millionaire grew his empire from nothing but hard work, motivation, and a competitive spirit.
Who is Peter Tri?
Tri is the founder and CEO of 8 Food, an Australia-based, multi-million-dollar condiment manufacturing company. 8 Food produces all of its products in-house with no external contractors. But Tri says he didn't always have such a prestigious title to his name.
Tri grew up in a working-class family with his hardworking parents instilling an excellent work ethic in him, he says. He dropped out of school at 16-years-old after adopting the belief that "predefined processes create predefined people and the system exists to create employees, not bosses." He says he felt the educational system wasn't challenging enough for him, so he left to "dive deep, get [his] hands dirty, [and] find how to conquer life."
Tri's Inspirational Entrepreneurial Journey
Tri started his entrepreneurial journey at age 21, buying a run-down chicken grill bar. After building it back up, he went on to open five more stores.
In 2007, Peter Tri decided to move into food manufacturing. He invested $3M into infrastructure to "shake things up" in the condiment sauce space. However, the big names in the market were not ready to share their space with a new business that was quickly gaining traction. Tri says they began to show their force by waging a price war on him.
He explains, "They wanted to test my financial strength. Within one year, I had lost my family home and was in a financial mess. I managed to hold onto my businesses and forged forward, changing tactics and servicing stores directly rather than the traditional format of engaging distributors. We got back on track in a big way, and this time we had relationships with the store owners."
How 8 Food was Born
As Tri climbed out of the hole the big brands had pushed him into, he waited for the right moment to establish his own distribution company that would go on to manage and sell his products. This was when 8 Food Group Distribution was born.
Today, both companies turnover more than $35M with a growth increase of 25% per annum. Tri went from dropping out of school to an 8-figure company. Now, he is among the top 10 condiment manufacturers in Australia. "I'm just getting started. I don't compare myself to others. I run my own race," he says.
Peter Tri’s story serves as an inspiration to anyone who's told they can't live their dreams. He’s living proof that if you work hard, you can overcome any obstacle life tries to throw in your way.