Honey Bunchies Shark Tank Episode S14 E20 Update & Net Worth

Honey Bunchies Shark Tank Episode S14 E20 Update & Net Worth

Honey Bunchies, now rebranded as Bon Bee Honey, is a snack bar company that made its debut on Shark Tank in Season 14, Episode 20. Founded by Kendra Bennet and her father, the company specializes in allergy-friendly, honey-based energy bars.

The Bennet family’s journey began in 2010 when Kendra’s father, a former fighter pilot, attempted to recreate a decades-old family recipe. The result was a delicious and nutritious snack bar that eventually led to the creation of Honey Bunchies.

During their Shark Tank appearance, Kendra asked for $200,000 for 10% equity, valuing the company at $2 million. Unfortunately, despite her passionate pitch and the product’s strong sales record, the sharks were not convinced, and Kendra left the tank without a deal.

However, the exposure from the show has helped the company grow, and as of the latest update, Honey Bunchies remains in business with an estimated net worth of $2 million.

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What is Honey Bunchies? How Does it Work?

Honey Bunchies is a Colorado-based brand that produces energy snack bars made primarily from honey and a mix of natural ingredients, including nuts and seeds.

The company, which has recently rebranded as Bon Bee Honey, emphasizes the use of simple, wholesome ingredients that are free from common allergens such as gluten, dairy, grains, and soy.

Each Honey Bunchies bar contains 42% pure, unfiltered honey, which acts as a natural sweetener and energy booster. The bars are made with other nutritious ingredients like coconut, almonds, and sunflower kernels, all of which are lightly salted and roasted to enhance their flavor.

These bars are not only delicious but also cater to individuals with dietary restrictions, making them a popular choice among health-conscious consumers.

The production process for Honey Bunchies involves thorough cleaning of the production equipment between each batch to prevent cross-contamination, ensuring that the bars remain free from allergens. The bars are priced at $2.99 each, with a production cost of $0.81 per bar, allowing for a reasonable profit margin.

In addition to being sold online through the company’s website and major retailers like Amazon, Honey Bunchies is available in over 1,200 retail locations across the United States, including Whole Foods, Kroger, 7-Eleven, and Natural Grocers.

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Honey Bunchies Shark Tank Episode S14 E20: What Happened at Shark Tank Pitch?

When Kendra Bennet stepped into the Shark Tank, she was seeking $200,000 for 10% equity in her company, Honey Bunchies. She shared the inspiring story behind the brand, which started as a family project to recreate an old recipe.

Kendra’s father, who had no prior experience in the food industry, spent years perfecting the recipe before launching the product in 2013.

During her pitch, Kendra highlighted the company’s impressive growth, noting that Honey Bunchies was already available in over 1,200 retail locations across the country. She also shared the company’s financials, revealing that year-to-date sales were $300,000 and projected to reach $519,000 by the end of the year.

 However, despite these promising figures, the company was only expected to net a profit of $22,000 for the year, which raised concerns among the sharks.

Kendra explained that the company’s growth prospects were strong, with partnerships in place that could drive sales to $2 million in the coming year. However, the sharks were hesitant to invest due to the competitive nature of the snack industry and the relatively low margins.

Mark Cuban, Daymond John, Lori Greiner, and Kevin O’Leary all decided to pass on the opportunity, citing concerns about the company’s valuation and the challenges of scaling in such a crowded market.

Despite leaving the tank without a deal, Kendra remained optimistic, expressing her belief that the sharks might regret not investing in Honey Bunchies.

Honey Bunchies Shark Tank Pitch Summary

What Happened to Honey Bunchies After Shark Tank?

Although Honey Bunchies did not secure a deal on Shark Tank, the appearance provided the company with significant exposure, leading to a surge in orders and interest from consumers.

In the days following the episode’s airing, Kendra and her team were busy fulfilling over 1,000 orders, as shared in a video posted on the company’s official Instagram account.

In May 2023, just a month after the episode aired, Honey Bunchies underwent a rebranding and changed its name to Bon Bee Honey. This rebranding effort was part of a broader strategy to refresh the company’s image and appeal to a wider audience.

Despite the name change, the product remained the same, offering the same great taste and quality that had earned it a loyal following.

Bon Bee Honey continues to be available in major retail chains, including 7-Eleven, Whole Foods, Kroger, and Natural Grocers. The company has also expanded its online presence, with products available for purchase on Amazon and the company’s website.

In addition to expanding its retail footprint, Bon Bee Honey has been featured in several media outlets, helping to raise awareness of the brand and its unique product offering. The company remains committed to its mission of providing delicious, allergy-friendly snacks that cater to a variety of dietary needs.

How Much Is Honey Bunchies Worth?

As of the latest update, Honey Bunchies (now Bon Bee Honey) has an estimated net worth of $2 million. This valuation reflects the company’s steady growth, its strong retail presence, and its ability to generate consistent sales despite the challenges of operating in a highly competitive industry.

Since its launch, Honey Bunchies has generated over $1.2 million in sales, with the company’s products now available in more than 1,200 retail locations across the United States.

The rebranding to Bon Bee Honey is expected to further enhance the company’s market appeal and drive future growth.

The snack bar industry is notoriously competitive, with numerous brands vying for shelf space and consumer attention. However, Bon Bee Honey has managed to carve out a niche for itself by offering a product that is not only delicious but also caters to consumers with specific dietary needs.

Is Honey Bunchies Still in Business?

Yes, Honey Bunchies (now Bon Bee Honey) is still in business and continues to grow. The company remains headquartered in Longmont, Colorado, and employs a small team of 5-10 people.

Despite the challenges faced during their Shark Tank appearance, the Bennet family has remained committed to their vision and continues to produce high-quality, honey-based snack bars.

The rebranding to Bon Bee Honey reflects the company’s commitment to evolving and adapting to the changing market landscape. With its products now available in major retail chains and a growing online presence, Bon Bee Honey is well-positioned for continued success.

The company’s products have received positive reviews from customers, with many praising the bars for their taste and quality. On Amazon, Bon Bee Honey has received a 90% 5-star rating, further solidifying its reputation as a trusted brand in the snack bar industry.

Which Episode & Season Number Was Honey Bunchies on Shark Tank?

Honey Bunchies was featured in Season 14, Episode 20 of Shark Tank. The episode aired on April 14, 2023, and showcased the Bennet family’s journey in building their allergy-friendly snack bar business.

Although they did not secure a deal on the show, the exposure helped boost the company’s profile and contributed to its ongoing success.

FAQs

Who is the founder of Honey Bunchies?
The founder of Honey Bunchies (now Bon Bee Honey) is Kendra Bennet, who launched the company with her father in 2015.

What are Honey Bunchies?
Honey Bunchies are honey-based energy snack bars made from natural ingredients, including coconut, almonds, and sunflower kernels.

How much did Honey Bunchies ask for on Shark Tank?
Kendra Bennet asked for $200,000 for 10% equity in Honey Bunchies during their Shark Tank appearance.

Did Honey Bunchies get a deal on Shark Tank?
No, Honey Bunchies did not secure a deal on Shark Tank, but the company has continued to grow and rebranded as Bon Bee Honey.

Is Honey Bunchies still in business?
Yes, Honey Bunchies (now Bon Bee Honey) is still in business as of April 2024 and continues to sell its products nationwide.

What is Honey Bunchies’ net worth?
As of the latest update, Honey Bunchies (now Bon Bee Honey) has an estimated net worth of $2 million.