Sweet Success: Honey Bunches Buzzes into 1,600 Retail Stores

Sweet Success: Honey Bunches Buzzes into 1,600 Retail Stores

Honey Bunches, now known as Bon Bee Honey, has become a buzzing success in the competitive snack bar market.

Despite being rejected on Shark Tank, this family-owned business has grown into a multimillion-dollar brand with a bright future. Let’s explore Honey Bunchies’ fascinating journey and current net worth.

Honey Bunches started as a small family business making honey-based energy bars. The company has soared to new heights after appearing on Shark Tank without securing a deal.

Today, Bon Bee Honey bars are sold in over 1,600 stores across the United States, including major retailers like Whole Foods, Walmart, and Kroger.

With annual revenue reaching $3 million and an estimated net worth of $8 million, Honey Bunches has proven that sometimes, the sweetest success comes after facing adversity.

What is Honey Bunches?

Honey Bunchies, rebranded as Bon Bee Honey, makes tasty and healthy energy bars. The bars are packed with honey, nuts, and sunflower seeds.

They’re gluten-free, grain-free, and soy-free. There’s even a peanut-free and dairy-free coconut almond flavor. The bars are unique because they use 42% pure honey as the main ingredient.

Who Is The Founder Of Honey Bunchies?

The story of Honey Bunchies begins with Edward Payne, a U.S. fighter pilot who served in Vietnam.

Edward relied on candy bars and soda for quick energy during the war. This diet led to health problems, including a high risk of diabetes. Edward’s wife, Jennifer, created a healthier honey-based snack for him.

Years later, Edward recreated Jennifer’s recipe and started selling the bars in 2010. He named the company Honey Bunchies after his pet name, Jennifer.

Today, Edward’s daughter, Kendra Bennett, runs the business as the Chief Marketing Officer.

How Was The Shark Tank Pitch for Honey Bunchies?

Kendra Bennett appeared on Shark Tank Season 14, Episode 20. She asked for $200,000 for 10% of the company. Kendra wore her dad’s old fighter pilot jacket to pitch the product. She gave the Sharks tasty samples and shared the company’s numbers.

The Sharks liked how the bars tasted. Mark Cuban said, “Coconut almond is good.” Lori Greiner noticed that honey was the main ingredient. Barbara Corcoran thought they were “Yummy and delicious, not too sweet.”

But the Sharks weren’t sweet on the business side. Kendra said they’d make just $22,000 profit from $519,000 in sales in 2022. Then, she predicted a massive jump to $2.2 to $4.2 million in profit for 2023. The Sharks thought this was too optimistic.

One by one, the Sharks said no. Mark Cuban thought it would take too much work. Lori Greiner doesn’t like honey. Barbara Corcoran didn’t believe the big profit jump. Daymond John didn’t want to work with a family business. Kevin O’Leary just said he couldn’t join the journey.

Honey Bunches Shark Tank Update:

Even though Honey Bunchies didn’t get a deal on Shark Tank, the show helped the business. When the episode aired, nearly 10,000 people visited their website. They got lots of orders right away.

 

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A post shared by Honey Bunchies Gourmet Bar (@myhoneybunchies)

After the show, Honey Bunches grew fast. In April 2023, the company changed its name to Bon Bee Honey, saying it wanted a name that could grow with it.

What Happened To Honey Bunchies After Shark Tank?

Bon Bee Honey has done well since Shark Tank. Here’s what happened:

1. More stores: Bon Bee Honey bars are now in over 1,600 stores across the U.S. Big chains like Whole Foods, Walmart, and Kroger sell them.
2. New deals: In June 2023, they made a deal with Kroger to sell in at least 20 states.
3. 7-Eleven test: They’re testing sales in some 7-Eleven stores in Dallas. If it goes well, they could be in up to 1,000 7-Eleven stores nationwide.
4. Online sales boom: After Shark Tank, online orders went way up.
5. Name change: They changed from Honey Bunches to Bon Bee Honey to help the brand grow.

Honey Bunches Growth and Operations:

Bon Bee Honey has grown from selling door-to-door in Colorado to being in major stores nationwide. They make their bars by hand with care. The company focuses on using high-quality ingredients and keeping its unique honey-based recipe.

Investments and partnerships: While Bon Bee Honey didn’t get an investment from Shark Tank, it has made significant partnerships with big stores. These deals with Whole Foods, Kroger, and 7-Eleven have helped it grow fast.

Challenges and competitors: The snack bar market is tough. There are lots of energy bars and health snacks out there. Bon Bee Honey has to work hard to stand out. They focus on their unique honey-based recipe and high-quality ingredients to be different from other bars.

Technological innovations: Bon Bee Honey hasn’t announced any significant tech changes. They seem to focus on making their bars by hand with care. However, they have improved their website and online ordering to meet growing demand.

Honey Bunches Net Worth and Financial Performance:

Bon Bee Honey is doing well money-wise. They make about $3 million in sales each year. Experts think the company is worth about $8 million now. This is a big jump from when they were on Shark Tank.

Each bar costs 81 cents to make and sells for $2.99. This gives them a good profit on each bar. Their earnings should keep growing as they sell in more stores and online.

Honey Bunches Strategy for Marketing and Sales:

Bon Bee Honey uses clever marketing to grow:

1. 1. Retail partnerships: They work with big stores like Whole Foods and Kroger to reach more customers.
   2. Online sales: They’ve improved their website to sell more bars directly to customers.
   3. Subscriptions: Customers can sign up to get regular shipments of bars.
   4. Hero discounts: They offer special prices to military members, teachers, and first responders.
   5. Social media: They’re more active on Facebook, Instagram, and TikTok to connect with customers.

Honey Bunchies, as Seen on Shark Tank, is now Bon Bee Honey! New name, same great bars, company, and family! Be sure to follow us @bonbeehoney . It’s going to be a great journey! pic.twitter.com/7t59zW4GoU

— Honey Bunchies Gourmets Honey Bar (@myhoneybunchies) May 2, 2023

Honey Bunches Social Media Presence:

Bon Bee Honey is stepping up its social media game. It posts regularly on Facebook, Instagram, and TikTok. It shares photos of its bars, tells its story, and connects with fans. This helps it build a community around its brand and reach new customers.

Honey Bunches Interesting Facts:

1. The recipe came from trying to help a Vietnam War veteran eat healthier.
2. They use 42% pure honey in each bar.
3. The company changed its name from Honey Bunches to Bon Bee Honey in 2023.
4. They offer a special discount for heroes like military members and teachers.
5. 99% of reviews on their website give five stars.

What’s Next For Honey Bunchies?

Bon Bee Honey looks set for more growth:

1. Expanding in 7-Eleven: If the test in Dallas goes well, they could be in 1,000 7-Eleven stores.
2. More Kroger stores: They might expand to more Kroger-owned stores nationwide.
3. New products: While they haven’t announced any, they might create new flavors or types of snacks.
4. Online growth: They’ll likely keep improving their website and online sales.
5. Brand awareness: As they grow, more people will learn about their unique honey bars.

Final Words:

Bon Bee Honey’s story shows that rejection isn’t the end. Even without Shark Tank’s investment, they’ve built a successful business. Their focus on quality, innovative partnerships, and customer connection has paid off.

Kendra Bennett said it best: “Unfortunately, we didn’t get a deal on ‘Shark Tank,’ but I’m a steadfast believer that everything happens how it’s supposed to.

We still own 100% of our company, and it was cool to present to the Sharks. The experience was terrific.”

From a small family recipe to a multimillion-dollar brand, Bon Bee Honey proves that sweet success is possible with the right ingredients—both in its bars and business strategy.

As they continue to grow and buzz into more stores across America, it’s clear that Bon Bee Honey’s future looks as golden as the honey in their bars.