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8 Myles

Better-for-you comfort foods: Clean ingredients. Key nutrients. Full flavor.
B2B Food Black Founders
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8 Myles has withdrawn its campaign
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Problem Solution Product Traction Customers Biz. model Market Competition Vision and strategy Funding Founders
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Documents

Republic (OpenDeal Portal LLC, CRD #283874) is considering hosting this Reg CF securities offering by 8 Myles LLC.
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Highlights


  • Gourmet, creative, comfort food in the $14B Frozen Entree category
  • In 400+ retail locations including Target, Whole Foods, and Kings
  • 300% year over year sales growth
  • A better-for-you Mac N Cheese, with 42% less sodium than the competition
  • All real ingredients, gourmet cheese, 16 protein, 2g fiber
  • Founded by America's Best Cook contestant
  • Certified Minority-Owned Business

Problem


Why can’t frozen food taste good as well as be good for you?

The frozen aisle is full of uninspired, sodium filled, substitute meals that offer an outdated solution to mealtime. Additionally, these high sodium products contribute to 1 in 3 Americans suffering from high blood pressure which is a leading cause of heart disease and stroke. Just ONE frozen food meal can contain up to 40% of your allotted daily sodium value. 

Today’s health and food conscious consumers seek better-for-you brands that not only provide nutritional value but inspire us to spend time together during meals.

—
We provide time to love, laugh, and enjoy the moment.
—

Solution


Convenience you require. Clean comfort you deserve.

8 Myles is a comfort food brand that allows
our world to spin a little slower—

so we can enjoy the things that truly matter.

Graphical user interface, text, application 
Description automatically generated

—
Our Mac has:

  • A plate of pasta 
Description automatically generated with medium confidence42% less sodium than competing brands
  • Premium ingredients
  • Zero hydrogenated oils

Product


8 Myles Mac N Cheese

Traction


Current traction

  • Projecting $2.3M revenue in 2022A picture containing text 
Description automatically generated
  • Currently available in over 350+ retail locations (including Kings, Streets, Whole Foods, Balducci's, Target and more..)
  • Regions available: Mid Atlantic,  Northeast, and Midwest
  • Distribution firmly established

Customers


Mac for who?

Primary customer: “The Busy, Health Conscious Parent”

  • 26-40 Years OldDiagram 
Description automatically generated
  • Is willing to shop premium for themselves and their family
  • Conscious of what their children eat
  • Doesn’t have time for ‘from-scratch’ cooking daily, but does their best to ensure her children eat well even if they have to compromise
  • Willing to invest in brands that make their life a little easier 
  • Tries to ‘eat smart’ to maintain healthy bodies for the whole family 

Market


$639M
Total Addressable Market


Frozen ready-to-eat meals

  • Main competitors: Amy’s, Blake’s, Evol
  • Competing brands within single serve meal segment currently cover $40–$50M
  • 8 Myles aiming to carve out $30–$35M over next 3-4 years via market saturation and national expansion


Projections


FY 2022
FY 2023
FY 2024FY 2025
Revenue$2.3M
$6M
$15.2M
$21M
  • In 2020, frozen ready-to-eat sales increased by 21% 
  • Roughly 1.22 million people eat Mac and Cheese per day
  • Average annual expenditure on frozen meals per consumer unit

Competition


What makes 8 Myles products different?


Vision and strategy


Improving lives through better nutrition and low-sodium products

. We currently distribute throughout the Northeast and Midwest through a number of regional and national distributors. We will be expanding nationally in May 2022. In addition, our DTC channel is set to launch in late Q1 of 2022.

—
Future comfort food lineup

Portfolio of five products in development, including hand-crafted Mac N’ Cheese Bites:

  • Mac N Cheese Bites
  • Buffalo Cauliflower Nuggets
  • Collard Greens
  • Bread Pudding

—
Use of capital

  • $115k: Working capital 
  • $153k: Sales and Marketing (Digital Ads, Social Media, Data Analytics, Retail ExpANSION)
  • $126k: Team Building

Founders



Myles Powell

Founder & CEO (MBA Graduate, Penn State)


  • Successful food blogger turned Food Network competitor
  • “America’s Best Cook” Season 1
  • Grew up in a family of foodies and Entrepreneurs Inspiration at an early age
  • Passion for home cooked comfort food, away from home

While pursuing a career in engineering, Myles nurtured his passion for food by experimenting with new recipes inspired by food is that good, word gets around fast!

Soon, Myles found himself on Food Network’s America’s Best Cook. That stint sealed the deal for Myles, who decided that food would play a bigger role in life than just sustenance and a hobby.

Documents

Republic (OpenDeal Portal LLC, CRD #283874) is considering hosting this Reg CF securities offering by 8 Myles LLC.

Potential perks

If 8 Myles launches an offering and you complete an investment, you may receive perks.
Reserve
$1,000
Receive
  • Receive 8 Myles t shirt, bottle opener and a 3 pack of mac
Reserve
$5,000
Receive
  • Receive 8 Myles t shirt, bottle opener, a 3 pack of mac, and exclusive sample of new product

About 8 Myles

Legal Name
8 Myles LLC
Founded
May 2015
Form
Pennsylvania LLC
Employees
2
Website
8myles.com
Social Media
Headquarters
Google Map location of of 8 Myles
1369 New York Avenue Northeast , Washington, DC
Headquarters
1369 New York Avenue Northeast, Washington, DC, United States 20002

8 Myles Team
Everyone helping build 8 Myles, not limited to employees

Profile picture of Myles Powell
Myles Powell
Founder
Profile picture of Olivia O'Donnell
Olivia O'Donnell
Social Media Associate
Myles Powell
Founder
Olivia O'Donnell
Social Media Associate

Press

New Food & Beverage Product Rollout: June 2021
Food Processing
·
Jun 24, 2021

After participating in the Food Network's America's Best Cook cooking challenge in 2013, Myles Powell decided to develop ...

With roots in Harrisburg, 8 Myles Mac n' Cheese launches ...
pennlive
·
May 14, 2021

An entrepreneur, who used to make barbecue sauces in a one-bedroom Harrisburg apartment, is bringing a comfort food favor...

Knack for mac | UD Magazine | UDaily
Udel

Engineer by day, chef by night, and founder and CEO of 8 Myles comfort food, Powell, EG12, has had a wildly successful ye...

FAQ

What must I do to receive my equity or cash in the event of the conversion of my Crowd SAFE?

What must I do to receive my equity or cash in the event of the conversion of my Crowd SAFE?

Suppose the Company converts the Crowd SAFE as a result of an equity financing. In that case, you must open a custodial account with the custodian and sign subscription documentation to receive the equity securities. The Company will notify you of the conversion trigger, and you must complete necessary documentation within 30 days of such notice. If you do not complete the required documentation with that time frame, you will only be able to receive an amount of cash equal to (or less in some circumstances) your investment amount. Unclaimed cash will be subject to relevant escheatment laws. For more information, see the Crowd SAFE for this offering.


If the conversion of the Crowd SAFE is triggered as a result of a Liquidity Event (e.g. M&A or an IPO), then you will be required to select between receiving a cash payment (equal to your investment amount or a lesser amount) or equity.  You are required to make your selection (and complete any relevant documentation) within 30 days of such receiving notice from the Company of the conversion trigger, otherwise you will receive the cash payment option, which will be subject to relevant escheatment laws. The equity consideration varies depending on whether the Liquidity Event occurs before or after an equity financing. For more information, see the Crowd SAFE for this offering.

How do I earn a return?

How do I earn a return?

We are using Republic's Crowd SAFE security. Learn how this translates into a return on investment here.

Still have questions? Check the discussion section.

Discussion

Ask questions and share feedback with the 8 Myles team below. If you have support related questions for Republic, please contact investors@republic.co.
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