Are you bored of eating the same energy bars again and again and want to try something new?
Do you want to replace your unhealthy snacks with a snack that is so tasty and healthy that you can munch on it guilt-free?
Well then, Honey Bunchies is the exact place for you. The company brings to you a range of healthy snacking energy bars that will satisfy your taste buds whilst keeping you away from the gym!!
Honey Bunchies at a Glance:-
| Idea | Honey-based gourmet snack bars |
| Founders | Kendra Benett |
| Asked For | $200,000 for 10% |
| Accepted Deal | None |
| Sharks | None |
| Business status | In Business |
| Episode No. | Season 14, Episode 20 |
| Buy on Amazon | Buy Now! |
Index:
What is Honey Bunchies?
Honey Bunchies are honey-based, all-natural gourmet snacking bars that are made from a secret recipe developed by Kendra’s parents.
They are a good snacking option for those who want to avoid eating unhealthy when they crave snacks.
Honey Bunchies is a family-owned business that makes fresh nutrition bars that are low on fat and sugar and provide an apt amount of energy.
It is also available in different flavors such as Peanut Pecan, Almond, and Cashew which are a go-to healthy snacking option.
Founder Story:
Honey Bunchies, is a product that was originally created by Kendra’s mother 35 years before the family started selling them.
After tasting the bars, Kendra decided to convert it into a business and share this delicious treat with everyone. They, hence started selling the products through a door-to-door service.
Kendra and her family make these bars in a commercial kitchen in Longmont, CO. The name “Honey Bunchies” is in fact a name that Kendra’s parents had given to each other.
At the time of entering Shark Tank, they sold the products on Amazon and were also testing them in 7-11 stores in Dallas.
Did Honey Bunchies get a deal on Shark Tank?
Kendra appeared on Shark Tank with her company Honey Bunchies and sought an investment of $200,000 for 10% equity.
She pitched her all-natural coconut almond energy bar and claimed that they were available in 1200 retail locations such as Kroger Banner and Whole Foods.
It costs around 81 cents and retails for $2.99. They made around $300,000 in sales last year and were projecting $2.2-$4.2 million in sales the subsequent year.
Kendra claimed to have sealed two important deals with a national retailer and a private label owned by renowned athletes. They also had a purchase order from 7-11 for an annual trade show.
The Sharks were pretty impressed by both the sales and the taste of the product and appreciated Kendra for taking a family-run business to a company-level business.
Even with a successful product and appreciable sales chain, the Sharks decided to drop out of the investment due to the highly competitive nature of the bars/candy business and the difficulty of investment in a family business.
What happened to Honey Bunchies after Shark Tank?
Honey Bunchies changed their name to “Bon Bee” immediately after its appearance on Shark Tank. Despite the fact that the company did not bag any investment from the Sharks, the company continues to run quite well.
They are now available country-wide in Kroger’s, HyVee, King Soopers, Natural Grocers, and a number of local provision stores and health food stores.
The Bon Bee bars are also set to roll out in Walmart as of July 2023. The company also has a good presence on Social Media handles with a decent following on all of them.
The company is also planning to introduce several different flavors in its array of bars.
Product Details:
- Honey Bunchies are honey-based guilt-free snacking bars.
- The bars contain 42% honey, along with other ingredients such as Sunflower Kernels, Pecans, and Peanuts.
- The bars are rich in nutrition and low in sugar, helping control various body vitals.
- The bars are 100% soy-free, gluten-free, and grain-free.
What’s the net worth of Honey Bunchies?
Honey Bunchies entered with an ask of $200,000 in exchange for 10% equity, valuating the company to $2 million. The company failed to grab a deal on the show and had to return empty-handed.
The estimated Net Worth of Honey Bunchies( renamed as Bon Bee now) is $2 million as of April 2023, which is a significant hike since its appearance on Shark Tank, since the company had evaluated itself as per the projected sales and the current valuation is due to the active sales of the product.
Who are the competitors of Honey Bunchies?
The major competitors of Honey Bunchies are the giants in the Bar/Candy industry:
- Snickers
- Lotus Bakeries
- Mondelez International Inc.
- The Kellogg Company
Is Honey Bunchies still in business?
Yes, Honey Bunchies is still in the markets but with a rebranded name, Bon Bee.
With its healthy ingredients and amazing taste, Honey Bunchies is gradually making an impact in the candy industry and is sure to become a big name in this industry.
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FAQs:
What is Honey Bunchies?
Honey Bunchies are honey-based, all-natural gourmet snacking bars.
What's the net worth of Honey Bunchies?
The estimated Net Worth of Honey Bunchies( renamed as Bon Bee now) is $2 million as of April 2023.