In the 20th episode of Shark Tank’s 14th season, businesswoman Kendra Bennett tried to get a deal with the sharks by telling them about their family-owned, cutting-edge company, “Honey Bunchies”. So, in this post, we’ll find out how much it’s worth and more.
How Much is Honey Bunchies Net Worth?
Honey Bunchies originally a family-run snack bar business that was highlighted on Shark Tank’s Season 14 has an estimated net worth of $8 million.
In 2010, her dad tried to make a recipe that her mom had made 35 years before, but instead, he made the Honey Bunchies recipe by mistake. They co-founded the business which later changed its name to “Bon Bee Honey” and has since seen significant success.
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How did Kendra Bennett Describe Honey Bunchies on Shark Tank?
In the 20th episode, Bennett made an appearance on Shark Tank in 2023 to promote her business and look for funding. She emphasized the special qualities of Honey Bunchies such as their all-natural composition, lack of gluten and grains, and high nutritional content.
A post provided below was shared on Instagram related to Kendra Bennett’s episode:
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Kendra Bennett made a passionate and positive proposal, but the Sharks didn’t seem to connect with it. Bennett asked for a $200,000 investment in return for a 10% ownership part in the business. Although they enjoyed the bars personally sadly for Honey Bunchies, the Sharks didn’t share her optimism.
They thought Bennett’s predictions for the company’s future and the inventiveness of the product were exaggerated.
Despite making $519,000 in sales last year, Honey Bunchies only made a $22,000 profit. With revenues between $2.2 million and $4.2 million, Bennett predicted a large increase in revenue for the following year.
Given a number of unknown variables, the Sharks questioned the chance that these projections would come to pass. Due to the intense competition in the energy bar market, Mark Cuban was hesitant to commit and expressed concerns about getting a speedy return on his investment.
Lori Greiner declined to participate in a project she didn’t personally like citing her preference against honey. Bennett’s optimism and work ethic were lauded by Barbara Corcoran, but she was skeptical of the financial forecasts.
Daymond John mentioned typical difficulties in family enterprises as the cause of his hesitation. The ultimate blow came from Kevin O’Leary, who declared Bennett’s assessment to be “completely unrealistic” and categorically refused her plea for a different offer with a resounding “No.”
How did Honey Bunchies Perform after Shark Tank?
Bon Bee Honey has expanded significantly since it made their appearance on Shark Tank. Approximately 1,600 retail outlets across the United States currently sell the company’s products, which bring in a monthly income of approximately $295,000.
This product can be found on the shelves of Walmart, Whole Foods, Kroger and many other retail establishments. The company’s data show that 28% of Honey Bunchies’ revenue comes from online sales. Their Amazon sales over the previous year impressively topped $520,000.
The business has received other honors including the National Association for the Specialty Food Trade’s (NASFT) “Best New Snack” award.
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