Honey Bunches are a famous brand of snack bars that combine honey with other healthy nuts. Kendra Bennett and her family, mainly her father, started the business in 2015.
Her mother had devised the dish in question 35 years prior, and in 2010, her father was attempting to replicate it.
Honey Bunchies Net Worth
Honey Bunches, a snack bar company started by a family and featured on Season 14 of Shark Tank, is now valued at $8 million.
In 2010, when attempting a recipe her mother had created 35 years prior, he accidentally prepared Honey Bunchies. They started a company together that became very successful under the new name “Bon Bee Honey.”
How Did Honey Bunchies’ Presentation on “Shark Tank?”
Kendra Bennett went on Shark Tank and sought $200,000 in exchange for a 10% stake. She told the whole story of how Honey Bunches, a family business, got its start.
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It took her dad three years to lay the groundwork for the company he founded in 2010 because he had no background in the food and beverage business.
They initially started selling this product to the public in 2013 when they struck a partnership with Whole Foods. More than 1,200 stores across the United States, including Whole Foods, Kroger, Natural Grocers, King Soopers, and others, currently carry this product.
The cost per bar is $0.88, with a retail price of $2.99. They anticipate a total of $519,000 in sales for the year, which is an increase from their current $300,000. With $519k in revenue, they have a paltry $22k in profit.
They anticipate revenues of $2.2–4.2 million during the coming year. The increased demand for this product is due to its impending distribution at 7-Eleven stores and other major outlets around the country.
While departing Shark Tank, Kendra said the investors might come to regret passing on this business opportunity.
Honey Bunches: What Happened to Them After “Shark Tank?”
Even while the sharks on Shark Tank weren’t enthusiastic about the veteran- and female-owned business, the audience was. According to The Denver Post, Honey Bunches saw an increase in sales after their website experienced a sudden surge in traffic.
But that’s not why the sharks might be kicking themselves for making that choice. Instead, it’s the expanding number of stores that carry the company’s honey and coconut-almond or peanut-pecan-filled bars.
Over 1,200 stores, including major supermarkets and convenience stores like 7-Eleven and Whole Foods, now stock Honey Bunches, according to the Denver Post. After the success of the program, Kroger also began carrying the brand’s wares.
Two months after the sharks had left, in June, the arrangement was revealed, guaranteeing the honey-based bars’ distribution throughout at least twenty states via the grocery above giant.
The success of the Honey Bunches bars at King Soopers, a regional supermarket brand owned by Kroger and stocking them since 2016, reportedly aided in the Kroger transaction.
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Where is Honey Bunchies Now?
Honey Bunches is devoted to making healthy and delicious snacks with only the simplest of ingredients. Honey, accounting for 42% of the total weight, is the critical component in both of the company’s delicious flavors, Peanut Pecan and Coconut Almond.
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These 1.4-ounce bars are the ideal combination of sweet and salty, delivering a sustained source of energy and vital nutrients. Honey Bunches bars are a practical and tasty alternative for all your snacking needs, whether you’re in need of a fast pick-me-up or a nutritious snack to fuel your outdoor excursions.
These bars are suitable for those with various dietary needs. The Coconut Almond bars are an excellent choice for those on a restricted diet due to their lack of common allergens like wheat, dairy, soy, peanuts, and grains.
It can take the family up to three days to create a new batch of Honey Bunches bars, and they use tools like a cutting machine to speed up the process.
This handcrafted method guarantees that each bar is of the most excellent quality, making for a snack that is both tasty and filling. Both the Honey Bunchies Gourmet Honey Bar and the Conocut Almond Bar retail for $35.99 a dozen.
The bars are available in a variety of retail locations, including Whole Foods, Safeway, Natural Grocers, and others. The bars are available for purchase on the online retailer Amazon. We are optimistic about the company’s future after seeing the Payne family achieve so much success.
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