WooHoo Foods, Inc.
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WooHoo Foods, Inc. David M. Crisp, Jr, CEO. WooHoo Management. David M. Crisp, Jr., CEO 17 years of success in the chemical industry (including account management positions in the food industry) Enjoys proven record of results in sales, marketing and executive management leadership positions

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WooHoo Foods, Inc. David M. Crisp, Jr, CEO

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Woohoo foods inc david m crisp jr ceo

  • WooHoo Foods, Inc.

  • David M. Crisp, Jr, CEO


Woohoo management

WooHoo Management

  • David M. Crisp, Jr., CEO

  • 17 years of success in the chemical industry (including account management positions in the food industry)

  • Enjoys proven record of results in sales, marketing and executive management leadership positions

  • Spent the last four years in high growth startups, including cleantech, personal care and food industries

  • Richard Molloy and Patrick George, Co-Founders & Directors

  • Formed one of the most active VC firms in SW Florida, Florida Gulfshore Capital (tech, software, internet, medical products)

  • Began small incubation effort two years ago using personal capital

  • Provide oversight and guidance as very active board members

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Market overview trends

Market Overview & Trends

  • In aggregate the food industry exceeds $1 trillion annually; snack foods account for $60 billion

  • The snack food market is growing by 1.5% per year; healthy snack foods are growing at 10% per year. Gluten-free is the fastest growing segment of the food allergy/intolerance market and has been experiencing a CAGR of 30% since 2006.

  • Convenience drives purchase decision, but health is major trend

  • As a result, major snack food companies are starting to self-regulate but will not admit to wrong-doing or cannibalize existing products

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The problem

The Problem

  • Over two thirds of American adults are overweight; 34% are obese

  • Over one third of American children and teens are overweight; 17% of this age group is obese

  • Obesity leads to health risks: diabetes, asthma and heart disease

  • CAUSE: the astronomical rise in processed foods, added sugar, no fiber and “empty calorie” snack foods that are aggressively marketed to consumers, especially kids and teenagers

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Today s product gudernoobs

Nutritional Information:

Calories: 60

Serving Size: two pieces

Fat: 1g

Sugar: 5g

Fiber: 2g

Protein: 2g

Today’s Product: Gudernoobs

  • Description: Raw, gluten-free, sweet and tasty, bite-sized snack treat

  • Flavors:

    • Awesome Apple Cider

    • Perfect Peanut Butter

  • Ingredients: dates, raisins, walnuts, apples, flax, cinnamon, vanilla and peanuts

  • Price: suggested retail $6.49/package

  • Quantity: 6 oz package contains 20 pieces

  • AKA: Goobernoobs, Noobs, etc.

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Competition

Competition

  • Hundreds of companies sell snacks foods, some Fortune 500 entities, some startups, and everything in between

  • First, we don’t focus our messaging and packaging on healthy so much as we use the typical junk food gimmicks to market our products (bright colors, funny names and the general look and feel of typical popular snacks)

  • Most that market “healthy” snack products are not really selling nutrition but only using terms like “no fat” and “healthy” in their advertising and packaging campaigns

  • WooHoo is different in two ways:

    • Second, our products don’t just pretend to be healthy, they are healthy and made with only wholesome and nutritious ingredients

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Business model

Business Model

Pricing

Sales (original)

Cost/package- initial............$2.38

Cost/package- volume........$1.76

Price to distributor..............$2.54

Price to retailer....................$3.69

Price to consumer...............$6.49

WooHoo Margin- initial..........6%

WooHoo Margin- volume....30%

Distributor Margin.................31%

Whole Foods Margin............43%

  • Location: 1. All-natural/healthy section, 2. snacks & candy isle, 3. Energy bars

  • Demographic: Health

  • conscious parent; health

  • minded adult

  • Volume 32 bags per month,

  • per store, at Whole Foods. 17

  • 17 stores in Florida

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Marketing strategy former

Marketing Strategy (former)

  • Using “junk food” packaging/labeling to make Gudernoobs look

  • like a typical junk food or candy product

  • $2/case discount to Whole Foods to assist in launch promotion

  • Two product demos/month/store to support Whole Foods

  • business

  • Facebook advertising to target consumers in Florida

  • Ongoing website sales

  • Facebook fan page

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Marketing strategy forward

Marketing Strategy (forward)

  • Simplify name to “Noobs” or something similar

  • RAW! Gluten-free, all-natural snack

  • Move from candy section to raw and/or bulk snack section

  • Explore other packaging options (3 pieces in flow wrap) to

  • get product off shelves and into front of store

  • Explore Halloween pails- seasonal with good brand recognition

  • Two product demos/month/store to support Whole Foods

  • business

  • Facebook advertising to target consumers in Florida

  • Facebook fan page

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Swot analysis

SWOT Analysis

Strengths

Weaknesses

  • Have a unique offering and marketing concept at the right time

  • Enjoy strong relationships with Whole Foods

  • Have established strong production relationships

  • Have minimal overhead expenses

  • Face hundreds of competitors, some much larger and more established

  • Must fight for shelf space as a relatively unknown brand

  • Will take time to establish brand credibility with consumers

Opportunities

Threats

  • Leverage the relationship with Whole Foods for national distribution

  • Capitalize on success with Whole Foods to sell into other retail chains

  • Increasing focus on health in snack foods- additional products

  • Cannot support Whole Foods successful without additional funding

  • Will ultimately face competition from the big players with much larger advertising budgets

  • May face competition from other startup companies

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Capital request

Capital Request

  • Seeking $300K in preferred equity financing for, negotiable,

  • equity ownership of the company

  • Offering standard rights and preferences, including liquidation

  • preference and one board seat

  • Will use majority of capital to support in-store demo’s at Whole

  • Foods locations in order to provide best opportunity for a

  • national roll-out

  • Will use the balance of the capital to fund SG&A and working

  • capital needs as volume increases

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Exit strategy

Exit Strategy

  • Build business for next 5+ years, focus on establishing

  • brand, expanding distribution and developing a strong niche,

  • consumer following

  • After achieving $10+ million in revenue, with strong growth

  • and profitability, look to sell to a strategic buyer

  • Most likely, strategic buyer will be Fortune 500 food company

  • focused on developing healthier product lines (as existing

  • junk food lines continue to face difficult market trends and

  • potential litigation)

  • Examples:

  • LaraBar sold to General Mills in 2010 for $50 million

  • IZZE sold to Pepsi in 2006 for ~$100 million

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Contact information

Contact Information

David M. Crisp, Jr.

Chief Executive Officer

(239) 297-7347

[email protected]

www.woohoofoods.com

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