MY BUSINESS: CRETAN OIL USA

The Orange County Register, Saturday, August 2, 2008

Owner: Chris Milonakis

Business address: 610 1/2 Orchid Ave, Corona Del Mar, CA 92625

Web site and phone number: www.cretanoil.com and 714-925-2717
Type of business: Importer of high quality extra virgin olive oil, balsamic vinegar and Kalamata olives from the Greek island of Crete.

When opened: We incorporated in 2006.

Describe your business: Based in Dana Point, Cretan Oil USA is an exclusive importer of the finest extra virgin olive oils, balsamic vinegars and Kalamata olives from the island of Crete in southern Greece.  Crete, a place with rich sunshine, exceptional soil, a combination of mountain and sea breezes and consistently mild climate, make this island the perfect land for the cultivation of the olive tree.  Because the olive trees of the region belong to thousands of small producers, each tree enjoys special care and attention.  This personal care is passed on from family to family, generation to generation, in tandem with many centuries of experience and tradition.  When the harvest is ready, our olives are collected manually and transferred to pressing plants with a minimal amount of time so that no alteration of the fruit’s taste, aroma, color and general oil quality occurs.

Where did you get the idea for the business: My father was born in Crete and I have many relatives that live on the island.  My father has a friend that heads up an olive oil/vinegar/olive production company and gave me exclusivity to market and sells these products within the USA.  I was always interested in getting involved with a business that involved my Greek heritage.  It is a true passion of mine.

How long did it take you to get from the idea to opening the doors: Nearly four months after I returned from my trip to Greece.

What did you do during that time: I extensively researched pricing and sales/distribution channels in the U.S.  I also sent numerous samples out to potential clients to get their feedback, which was very positive.

How much did it cost to start the business: I initially put in about $50,000 for a large initial order to build my inventory.

Where did you get the money: From savings.

Your expected yearly revenue: $100,000 - $500,000.

How many hours a week do you work: 80-90+.

Is this your first business: No, my wife and I also run a real estate and mortgage team.  But, olive oil is my big passion.

Whom did you seek for advice: I hired a couple of consultants who specialize in this area to see if I could generate a viable market share for my products.

How are you marketing yourself: We just launched our web site, and I attend a lot of food shows and hand out samples to companies.

The Origin of Cretan Olive Oil

Based at one of the most charismatic places on the island and founded in 1949, the Union of Agricultural Cooperatives of Apokoronas and Sfakia consists of 41 cooperatives and has about 8000 olive oil producers as members.

The Union controls and organizes all stages of production and processing of the olive oil in the region. It owns five pressings plants from which the olive oil progresses to the Union’s modern processing plants at Stylos, Apokoronas. After the necessary detailed chemical analysis is complied, the olive oil is categorized accordingly and stored in sate of the art stainless steel indoor storage tanks.

Because the olive trees of the region belong to thousands of small producers, each tree enjoys special care and attention from its owner - from initial planting of the tree to eventual harvest of the fruit and production of the olive oil.

This special care and attention is passed on from family to family, from generation to generation, in tandem with many centuries of experience and tradition.

This personal attention and knowledge, which varies according to the specialties of the cultivator and the individual requirements of each tree, is what makes the Union’s olive oil a perfect product.

When the correct time for harvest has been carefully decided upon, the fruit is collected manually. It is then transferred to the pressing plants within a minimal amount of time so that no alteration of the fruit’s taste, aroma, color and oil quality occurs.

Consequently, the Union of Agricultural Cooperatives of Apokoronas and Sfakia is considered a standard for the cultivation, care, processing and production of olive oil. This is why it produces the genuine Cretan olive oil, the quality of which is further assured by ISO 9002 and HACCP standards.