FoodEntrepreneur August 17, 2021 Presented by Food Business News DOWN TO EARTH Once Upon A Farm's John Foraker and Jennif...
Consumers face a snacking dilemma
Consumers face a major dilemma when it comes to snacks—the ongoing problem of taste vs. health. Traditional snacks are filled with preservatives and empty calories while healthier snacks sacrifice flavor in the pursuit of health.
Crunchy! Delicious! Nutritious!
HA! was founded for frustrated snackers craving nutrition by delivering bold flavor and powerful crunch through plant-based protein and natural seasonings to keep people feeling full. There is no compromise on texture or flavor with HA! At only 140 calories, our snacks deliver 11 grams of protein and a variety of flavors that satisfy both sweet and salty snackers.
Eating nutritious snacks is no longer a chore, it's fun, HA!
Crunch, flavor, & nutrition together at last
HA! focuses on taste above all. Our snacks crunch like a kettle cooked chip and finish like a savory puff. We use protein from peas, chickpea flour, and brown rice flour to create our crunchers, and season them with all-natural, tasty goodness for each flavor! Each of our five flavors is low calorie, high protein, vegan, gluten-free, and non-GMO.
Over 10K customers with strong sales growth
HA! has gone from $7K in 2019 revenue to $230K in 2020. As of Feb 2021, our current monthly revenue is $30K. Our repeat customer rate is 35% monthly, and repeat customers spend 30% more than they did on their initial purchase.
HA! was also 1 of 7 companies selected for SKU-Austin Accelerator, which had 150+ applicants. The Accelerator Track was completed in May 2021.
SKU-Austin has alumni companies such as: Siete Foods, Epic Bar, DUDE Wipes, Aura Bora, and other fast growing CPG brands!
*Repeat rate as of Apr~Jun 2021. Repeat customer spending based on average of 2020 & 2021.
Leading the better-for-you market with TASTE first
HA! Snacks were tailor made for people who want the same crunch, flavor, and taste they get from unhealthy snacks, but are looking for more functional nutrition.
No more dried out snacks or bland tasting compromises. HA! is a snack consumers can actually enjoy as they eat!
HA! is the perfect, Healthier Alternative for the broad market of snackers looking for more protein from their snacks. Our customers use our product daily and super users consume 2-3 bags of our snacks per day.
Repeat purchases garner higher revenue
HA! sells exclusively D2C through our Shopify store and Amazon.com. In 2020, we grew our online sales by a YoY increase of 4,900%. We are on pace this year for $400K+ in online revenue.
With gross product margins of 70%, we have plenty of room to scale customer acquisition. It costs us around $22-28 to acquire a customer with an average order value of $34. On repeat purchases, our customers spend an average of $48, proving that once they try our snacks, they come back and spend more money (30% more) than the initial order. We have a strong 3-month LTV of $48 and our acquisition cost payback period is less than a month.
AOV and LTV are for past 6 months as of Jun 2021. Amazon stats are YTD as of May 2021.
A healthier alternative for the $26B US salty snacks market
Consumers are looking for healthier options in snacking, specifically more protein from their snacks. Consumers expect snacks to be delicious, nutritious, and functional, with taste being the biggest factor.
Snacking is a big industry in the US and healthy snacks are one of the fastest growing subcategories. The global healthy snacks market will reach $108B+ in 2027.
We are projecting to reach 10K+ stores by 2026, targeting national chains such as Whole Foods, Costco, The Fresh Market, Publix, and Sprouts, among others.
HA! is both protein-rich and delicious
HA! differentiates itself from others in the healthy snack category by providing quality taste and the 11 grams of protein to fuel consumers and keep them feeling satiated.
Innovating for exit potential
We are creating a company that pairs uncommonly great taste with nutrient-dense functionality not seen in the better-for-you space. We have high aspirations to become THE Healthier Alternative for consumers, and attract BigFood Co's looking for innovation to acquire. The M&A market is ripe for better-for-you snacks and we are going to capitalize.
How will we get there? Executing on big goals, one step at a time!
Unleashing growth through a new, healthier snack brand
When we launched, we launched as Macro Snacks. After talking to customers and realizing long term vision, we realized it was time for a rebrand. What started as a diet-focused, niche brand is now accessible and more approachable for a broader audience, opening up our market opportunity and creating unlimited potential!
Our innovation pipeline is fresh and we have plans to create Healthier Alternatives across categories with products that need disrupting. We also have plans to launch, new, bold flavors that consumers are asking for! Every flavor from sweet, spicy, savory, to completely unique!
Built with minimal investment, now positioned for exponential growth!
Prior to our Republic campaign, HA! has $130K+ raised to date, bringing in a celebrity investor, CPG veterans, and completing the nation's premier CPG Accelerator. All of this will aid us with growth and awareness. This new round of funding will go towards production, sales and marketing, and furthering our expansion both in retail stores and online. All told, this raise will allow us to scale our current production, launch new innovations, and reach our goal of 10K+ stores across the US within the next five years.
Created for me, perfected for everyone!
Looking to solve a problem for himself, Justin set out to create a crave-worthy, nutritious, snack worth eating. Building the company for the first year and a half on his own, Justin is now surrounded by credible investors and industry veterans to propel the growth of the brand, amplify the mission, and rethink the way people snack, one crunch at a time. What the CRUNCH are you waiting for?