Honey Bunchies Bars Fail to Land a Deal on Shark Tank, but Remain Optimistic for the Future

The popular television show Shark Tank aired a new episode on April 14th, featuring Kendra Bennett, who presented her unique Honey Bunchies Bars. Seeking a $200k investment in exchange for 10% of her company, Kendra shared the story behind her business. Her father, a diabetic, needed a healthy source of energy to keep his blood sugar levels in check. Her mother created a honey-based snack that tasted great and provided him with the necessary energy. Kendra recreated the recipe, improving it and creating a unique bar that contains coconut honey, which is the secret ingredient that makes it so special.

The Sharks React

When the sharks tried the bars, they loved the taste and the fact that it was a healthy snack. Kendra shared that the bars were already being sold in Whole Foods, with a retail price of $2.99 per bar. She also disclosed that it costs 81 cents to produce a single bar, and the company made $300k year-to-date. They expect to make $519k the following year. However, Kendra anticipates even greater sales in the $1-2 million range, thanks to the company’s expansion into Seven-Eleven stores, three nationwide distributors, a national retailer that sells by the box, and online sales. They also have a private label client who is owned by two world-renowned athletes.

Despite the optimism and great potential, not all sharks were interested in investing. Mark Cuban praised the bars, saying that they were amazing, but he believed that the energy bar and candy bar business was brutal and decided to go out. Lori Greiner, who is known for her investments in the food industry, said that she personally did not like honey and needed to love what she invested in. She also passed on the deal. Daymond John, who has experience with family businesses, said that they are tough for an investor, and he decided not to invest either.

Did Honey Bunchies Get a Deal?

The last to comment was Kevin O’Leary, who said that the valuation was completely insane. Unfortunately, Honey Bunchies did not get a deal on Shark Tank. However, Kendra remains optimistic and believes that her company will still soar and become successful, despite not landing a deal on the show. With their expansion into new markets and a growing customer base, the future is bright for Honey Bunchies.