In 2023, Honey Bunchies’s net worth is $8 Million. In this article, we will learn about Honey Bunchies Net Worth: What Happened To Honey Bunchies After Shark Tank?
Honey Bunches is a brand that makes snack bars by mixing honey and other beneficial nuts. The company was founded in 2015 by the Kendra Bennett family, specifically her father. In 2010, Kendra’s dad was trying to recreate a recipe that her mother had made 35 years ago. Although he was unable to replicate the original recipe, he accidentally created the recipe for Honey Bunches.
Kendra, the co-founder and CMO of the business pitched on Shark Tank Season 14 Episode 20. She requested $200k for 10% equity at a $2 Million Valuation.
How Much is Honey Bunchies Net Worth?
Honey Bunchies’s net worth in 2023 Is $8 Million. Bon Bee Honey, previously known as Honey Bunchies, is a successful snack bar business co-founded by Kendra Bennett and her father. The company was featured on Shark Tank’s Season 14 and has a net worth of $8 million.
These snack bars are made using natural ingredients and contain up to 42% pure honey. They have a shelf life of 7 months, but if refrigerated or frozen, they can last for 8 to 12 months.
These bars are crafted from natural components and feature a high honey content of up to 42%. They can be stored for up to 7 months at room temperature, but refrigeration or freezing may extend their lifespan to 8-12 months.
Honey Bunchies is a business that was established by Kendra’s father, a former fighter pilot in the US Army, in 2010. He had to work hard to revive the business. The bar has received a 5-star rating from 90% of users on Amazon Global Rating. The brand is headquartered in Longmont, Colorado, US, and employs 5-10 people. As of May 2023, Honey Bunchies is still in operation.
How Was The Shark Tank Pitch Of Honey Bunchies?
Kendra Bennett requested $200k for 10% equity when she appeared on Shark Tank. She provided the sharks with full details about the origin story of her family business, Honey Bunchies. Her father started the company in 2010, despite having no prior experience in the food and beverages industry, and it took him three years to establish the foundation.
In 2013, a product was introduced to retail and secured a deal with Whole Foods, becoming available at more than 1,200 locations nationwide including Kroger, Natural Grocers, and King Soopers. The product, which retails at $2.99 per bar, has sold over $300K and is expected to reach $519,000 in sales by the end of the year. However, from this amount of sales, the profit is only $22k.
It has been projected that the sales for next year will be between $2.2M-$4.2M. This increase in sales is due to the product being made available at Nationwide Distributor, 7Eleven, and other locations. The business was not able to secure funding during their appearance on Shark Tank, but Kendra mentioned to the sharks when leaving that they may regret not making a deal.
Who is the founder of Honey Bunchies?
Kendra Bennett, along with her mother Jennifer, and brother Edward, founded a business in 2015 after her father recreated an old honey bar recipe that Jennifer had made over 35 years ago. Kendra appeared on Shark Tank seeking a $200,000 investment in exchange for a 10% stake in the company.
What happened to Honey Bunchies after Shark Tank?
In 2015, Kendra Bennett and her family established a business based on an old honey bar recipe that her mother Jennifer had made over 35 years ago. The recipe was recreated by Kendra’s father, and together they started the business venture.
Last year, the business generated $300,000 in revenue, and they expected to reach $519,000 this year. However, due to five factors, including a national retailer and a private label client owned by two well-known athletes, they are now projecting sales between $2.2 and $4.2 million for 2019.
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