BULk Beef Jerky

BULk Beef Jerky

Handcrafted premium meat snacks in bulk sizing

Print
Security Type
Crowd Note
Categories
Other
Min Investment
$1,000
Offering Date
February 01, 2019
Expected Close Date
May 02, 2019
Target Raise
$200.00K-$1.07M
Deal Notes

Round type: Seed Round size: US $1,070,000 Minimum investment: US $1,000 Target Minimum: US $200,000 Maximum Raise Amount: US $1,070,000 Security Type: Crowd Note Conversion discount: 20.0% Valuation Cap: US $6,000,000 Interest rate: 6.0% Note term: 24 months Closing conditions: While BULk Beef Jerky has set an overall target minimum of US $200,000 for the round, BULk Beef Jerky must raise at least US $25,000 of that amount through the Regulation CF portion of their raise before being able to conduct a close on any investments below $20,000. For further information please refer to BULk Beef Jerky's Form C. Transfer restrictions: Securities issued through Regulation CF have a one year restriction on transfer from the date of purchase (except to certain qualified parties as specified under Section 4(a)(6) of the Securities Act of 1933), after which they become freely transferable. While securities issued through Regulation D are similarly considered "restricted securities" and investors must hold their securities indefinitely unless they are registered with the SEC and qualified by state authorities, or an exemption from such registration and qualification requirements is available. Raised to date: US $15,000 US $15,000 (under Reg CF only)

Company Description

Handcrafted premium meat snacks in bulk sizingB.U.L.K Beef Jerky is a modern, exciting, up-and-coming snack vendor in the food and beverage market. We provide premium, gourmet jerky to the world and have the goal of disrupting the industry with innovative solutions in the food and beverage space. Our jerkies are some of the best, hand selected and taste tested to provide jerky lovers with high quality jerky. What makes B.U.L.K special is that we offer over 100 products with sizing from 1.5 oz up to 5 pounds, providing a flavor and style for everyone. The brand was established on the fundamental key values: strength, kindness, and family, which are the values we want to reflect to our customers. One of our biggest internal challenges is keeping up with inventory. Our partnered manufacturers can not keep up with our demand, so as of September 2018, B.U.L.K acquired its own manufacturing facility in Johnson City, TX. The Jerky Market ProblemJerky and meat snacks dominate the savory snack market today, with sales of over $1 billion in 2017 and a CAGR of 9%. Although many jerky brands claim to have the "best" jerky, many have the same model with limited or no recipe innovation. Typically, they have retail distribution of 3-5 flavors, in 3-8 oz sizing.What differentiates us:Crowdsourced jerky recipes: B.U.L.K promotes “Smoker Masters”--DIY jerky makers to highlight the recipes they claim to be “the Best”.Manufacturing: B.U.L.K manufactures and helps Jerky Smokers navigate the USDA manufacturing requirements by bringing in recipes to our manufacturing facility.Distribution: B.U.L.K distributes Jerky Smokers' products and story through wholesale and e-commerce b2c channels.Creative Branding: We have our 13 pillar online marketing strategy up and running, resulting in an increase in online sales +70% over the last twelve months.

Perks

$1,000 - $2,499: One free B.U.L.K Sampler Bag (our most popular sampler bundle with product from three different of our top jerky lines) + 10% personal lifetime discount code.
$2,500 - $4,999: Above perks + 15% personal lifetime discount code + one full set of B.U.L.K Swag.
$5,000 - $19,999: Above perks + 20 % personal lifetime discount code + One 5 Lb bag of our All Natural Brisket Beef Jerky.
$20,000 - $49,999: Above perks + 25% personal lifetime discount code + 2 x $100 product vouchers.
$50,000 - $99,999: Above perks + The opportunity to choose a B.U.L.K kindness cause project powered by YOU.
$100,000 - 249,999: Above perks + Your own private tour of the B.U.L.K manufacturing plant in Texas and the opportunity to work with our chef to create your own jerky recipe.
$250,000+: Above perks + you get to drive and shoot tanks in Texas for a B.U.L.K commercial.

Key Deal Facts

Company grew gross profits 121% from 2016 to 2017 (with gross profit of $204,081 in 2017 compared to $92,285 in 2016) (unaudited).
Sales grew to $587,617 in 2016 from $364,240 in 2015 for a 61% top line growth rate and then to $818,814 in 2017 from $587,617 in 2016 for a 39% top line growth rate (unaudited).
6,000 active customers with an email distribution membership of over 28,000 emails and 20,000 monthly visitors to the website.
Trailing twelve month average of 23% monthly returning customer rate and overall average order size of $52.

Management Team / Advisory Board Bios

Pete Garbowski - CEO
Co-led the global e-commerce division of Manduka, he build the team and grew revenue from $3M to $8M over his 3 year tenure. Pete has extensive leadership and ecommerce experience that has turned a hobby into a digital beef jerky market disrupter. 

Nicholas Buschini - CMO
Nick’s marketing acumen has grown B.U.L.K’s online presence and sales, increasing the online revenue more than 50% and social channels more 400% since starting at the company. Nick has been an active member of the Conrad N. Hilton Foundation through the generation of giving (GIG) program which has lead him to have a seat as a committee member. Every year, Nick is given the opportunity to provide 501 (C) organizations grants through discretionary funds. 

Linus Wik - COO
Solution oriented with an eye for design and style. He has redefined B.U.L.K’s market positioning and packaging design. Linus graduated in 2017 with a BA in Business Management & Entrepreneurship from Antioch University Santa Barbara, and has developed a genuine professional passion for social entrepreneurship, sustainable development, and market innovation. He believes that commitment, determination, and a constant urge of standing out are three pillars to success. 

Deal Notes

Round type: Seed Round size: US $1,070,000 Minimum investment: US $1,000 Target Minimum: US $200,000 Maximum Raise Amount: US $1,070,000 Security Type: Crowd Note Conversion discount: 20.0% Valuation Cap: US $6,000,000 Interest rate: 6.0% Note term: 24 months Closing conditions: While BULk Beef Jerky has set an overall target minimum of US $200,000 for the round, BULk Beef Jerky must raise at least US $25,000 of that amount through the Regulation CF portion of their raise before being able to conduct a close on any investments below $20,000. For further information please refer to BULk Beef Jerky's Form C. Transfer restrictions: Securities issued through Regulation CF have a one year restriction on transfer from the date of purchase (except to certain qualified parties as specified under Section 4(a)(6) of the Securities Act of 1933), after which they become freely transferable. While securities issued through Regulation D are similarly considered "restricted securities" and investors must hold their securities indefinitely unless they are registered with the SEC and qualified by state authorities, or an exemption from such registration and qualification requirements is available. Raised to date: US $15,000 US $15,000 (under Reg CF only)

Amount Raised : $25,000
Reveal the Score by Voting
_
Additional ratings from other users are needed to determine a viable CrowdScore for this deal.
The "CrowdScore" for this deal is determined by user ratings and other factors using our proprietary algorithm.
The overall viability and scalability of the business concept as well as the ability to drive the concept to profitability over time.
Business Idea
The progress made thus far in demonstrating that the business has viability, a customer base or other business traction.
Business Traction
The experience of the management team in running, scaling and/or exiting a business that required similar skills to execute the business plan.
Management Team
The value of the company compared to similar companies raising money from investors.
Valuation

Security Description

A Crowd Note modifies the typical convertible note so that the crowd does not automatically convert to equity shareholders on the next financing and remain off the issuer’s capitalization table, but the crowd will still participate in any exit as if they had converted to equity. If there is no future financing, the holders of the Crowd Note still have upside, but could miss out significantly.

Research Reports

No reports have been submitted

Become a Reporter

0 Comments