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Krave final
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Krave final

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  • 1. Advanced Entrepreneurship December 1st, 2011
  • 2. TEAM KRAVE Premium Quality( J E R K Y 2.0 All-Natural ) 50%+ Less Salt/Fat Foodie Flavors Softer/Moist Texture Contemporary Branding Better Margins An On Trend Snack A Category Disruptor Brand
  • 3. WHY A DISRUPTION T h e E xa m p l e s The Opportunity + Industry Convention Buster Brand M a r ke t C o n d i t i o n s Airlines Virgin America Ice Cream Ben & Jerry’sLimited Market Segmentation Beer Samuel AdamsLethargic Competitors Potato Chips Kettle / Terra ChipsFavorable Consumer + Trade Dynamics Coffee StarbucksEntrepreneurial Entrant with New Chocolate Scharffenberger Approach and Fewer Constraints Water Vitamin WaterClear / Meaningful Differentiation vs. Cereal Kashi / Bear Naked Mainstream Competitors Energy Bar Cliff Bar Meat Snacks / JerkyKRAVE
  • 4. MARKET SIZE A m e r i c a n s L o v e t o Ea t M e a t a n d S n a c k Giant Markets> Meat: $160B / Snacks: $70B 2009 US Snack Food> Meat Snacks: $4B Retail Sales Varying Growth Rates Salty> Meat: + 5% $30B> Snacks: + 15%>Jerky: + 5% Mega Consumer Trends Converging Sweet>Healthy, More Flavorful, Higher Quality $35B Snacks Driven by Innovation / News Meat Meat Snacks / Jerky Generally Sleepy> Limited Innovation $4B> “Gut Stuffer” Image Source: US Package Facts Change Underway Driven by New Entrants>All-Natural> 10% Growth Latest 52 Weeks Nielsen F/D/M
  • 5. THE TEAM Jon SebastianiFood & Beverage Domain Experience Previous Entrepreneur Manufacturing Experience CPG Marketing Background KamilAgi PhD Engineering Technology Specialist Previous Entrepreneur Alternative Prospect
  • 6. KRAVE CANVAS SUMMARY #1Key Partners Key Activities Value Prop-Transactions: Paypal, Visa, Mastercard -New distribution channels -Unique package-Channel to Consumer: HSN, Safeway, -In-store demos -Quality of meatFlash sale sites (Woot, Joss & Main, Fab) -Formal customer support -Health benefits of jerky-Public Relations Firm - GlodowNead service -Snack taste Cust. Relations Cust. Segments Cost Structure -Branding - Athletes -Slotting Fees -Customer education - Gourmet food enthusiasts -Temporary price reduction, -In-store demo - Purposeful eaters Scan based discount -Frequent buyer program - Vegetarian Jerky -In-store demo - Female segment -$19m target market Key Resources Channels Revenue Stream - Jon Sebastiani -Direct to consumer – web -$5.95 - Direct to store delivery -Vending machines - National distribution -Specialty stores (Cost Plus) -Supermarkets -Krave Jerky Stores
  • 7. WHAT WE DIDTa r g e t e d F o c u s P o i n t s Over 10 In-Store Demo’s including 100’s of customer surveys Sonoma County Wine and Food Festival – 50 Surveys Online Survey – Over 100 SurveysM e e t i n g s w i t h A d v i s o r s , M e n t o r s a n d I n d u s t r y Experts Private Equity Groups – Including Encore, TSG, VMG, Verge, Blue Horizon and ex-TPG partners  Mentors - Gina Bianchini, Robert Siegal, Adam Tachner 10 – 25% Price Premium vs. Mainstream Competitors Advisors – Steve Blank, Jim Hornthaland Oren Jacob Broker Network – Ignite Sales, Advantage Sales
  • 8. WHAT WE LEARNED K R AV E v s . C o m p et i t i o nFitness Enthusiasts Manufacturers vs. Marketers Healthy Snackers, Foodies >Jerky = Waste Reducer / Capacity Filler Targeted to Men and Women > All Similar Offerings – Compete on Price All Natural Ingredients  All Targeted to Men Gourmet / Premium / Modern Image  Artificial Ingredients US Sourced Meat  “Gut-Stuffer” / Traditional Image Higher Quality Meat Cuts  South American Sourced Meat 50% Less Salt and Fat  Unknown Quality of Meat Cut Moist and Tender Texture  High Fat / Sodium ContentGrocery and Specialty Channel Focus  Dry and Tough Texture  Limited and Conventional Flavors
  • 9. KRAVE CANVAS SUMMARY – Summary #2Key Partners Key Activities Value Prop-Transactions: Paypal, Visa, Mastercard -New distribution channels -Unique package-Channel to Consumer: HSN, Safeway, -In-store demos -Quality of meatFlash sale sites (Woot, Joss & Main, Fab) -Formal customer support -Health benefits of jerky (✔)-Public Relations Firm - GlodowNead service --Snack taste (✔)-Manufacturer - Social media leverage Cust. Relations Cust. Segments Cost Structure -Branding -Athletes (✔) -Slotting Fees -Customer education -Gourmet food enthusiasts -Temporary price reduction, -In-store demo -Purposeful eaters (✔) Scan based discount -Frequent buyer program -Vegetarian Jerky -In-store demo - Female segment (✔) -$19m target market Key Resources Channels Revenue Stream - Direct to store delivery -Direct to consumer – web -$5.95 - National distribution -Vending machines -Specialty stores (Cost Plus) -Supermarkets -Krave Jerky Stores -Kiosks
  • 10. WHAT WE DID Reta i l Pe n et r a t i o n4,000 Retail Outlets – Grocery Stores, Online Shopping, Specialty Food Stores
  • 11. THE GLIMPSE OF DEATH •Build 1m •20% Increase Relationship •Evaluation of on all SKU’s •Design 2012 Terms PRICE •KRAVE MarginSupplier Supplier to <10% Strategic •Competitive INCREASE Recipe Consideration •Wholesale Relationship Pricing Set
  • 12. KRAVE CANVAS FINALKey Partners Key Activities Value Prop-Transactions: Paypal, Visa, Mastercard -New distribution channels - Unique package-Channel to Consumer: HSN, Safeway, -In-store demos - Quality of meatQVC. KeHE) -Formal customer support - Health benefits of jerkyFlash sale sites (Woot, Joss & Main, Fab) service - Snack taste-Public Relations Firm - GlodowNead -Social media leverage-Manufacturer -Manufacturing-Order Fulfillment -Vertical/Horizontal integration Cust. Relations Cust. Segments Cost Structure -Branding -Athletes -Slotting Fees -Customer education -Gourmet food enthusiasts -Temporary price reduction, -Public relations -Purposeful eaters Scan based discount -In-store demo -Vegetarian Jerky -In-store demo -Frequent buyer program - Female segment -$19m target market (specialty) -$500m jerky market (niche) -Gross margins or revenues Key Resources Channels Revenue Stream - Direct to store delivery -Direct to consumer – web -$5.95 (retail) - National distribution -Vending machines - QVC - National media (e.g. AP, WSJ articles) -Specialty stores (Cost Plus) -KeHE/Tree of life -Supermarkets/retail - Flash sites -Krave Jerky Stores - Direct sales -Kiosks
  • 13. WHAT’S COMING DOWN THE PIKE?Roll-out of KRAVE 2.0 in Q1 2012 New Branding Better Product New Size (3.25 oz)  Formal Marketing / PR DriveLaunching with Safeway on National Basis in Jan 2012 5 Flavors $5.99 / unit price to ConsumerAddition of Other Major Distributors in Q4 ‘11 / Q1 ‘12
  • 14. MOVING FORWARD P u b l i c Re l a t i o n s
  • 15. BUSINESS PERSPECTIVE2 0 1 1 – 2 0 1 2 YOY G r o w t h 2011 - $ 1,600,000 2012- $ 7,000,000 +450%
  • 16. Krave – on!
  • 17. KRAVE CANVAS SUMMARY WEEK 1Key Partners Key Activities Value Prop-Transactions: Paypal, Visa, Mastercard -New distribution channels -Unique package-Channel to Consumer: HSN, Safeway, -In-store demos -Quality of meatFlash sale sites (Woot, Joss & Main, Fab) -Formal customer support -Health benefits of jerky-Public Relations Firm - GlodowNead service -Snack taste Cust. Relations Cust. Segments Cost Structure -Branding - Athletes -Slotting Fees -Customer education - Gourmet food enthusiasts -Temporary price reduction, -In-store demo - Purposeful eaters Scan based discount -Frequent buyer program - Vegetarian Jerky -In-store demo - Female segment -$19m target market Key Resources Channels Revenue Stream - Jon Sebastiani -Direct to consumer – web -$5.95 - Direct to store delivery -Vending machines - National distribution -Specialty stores (Cost Plus) -Supermarkets -Krave Jerky Stores
  • 18. KRAVE CANVAS SUMMARY WEEK 2Key Partners Key Activities Value Prop-Transactions: Paypal, Visa, Mastercard -New distribution channels -Unique package-Channel to Consumer: HSN, Safeway, -In-store demos -Quality of meatFlash sale sites (Woot, Joss & Main, Fab) -Formal customer support -Health benefits of jerky-Public Relations Firm - GlodowNead service -Snack taste Cust. Relations Cust. Segments Cost Structure -Branding - Athletes -Slotting Fees -Customer education - Gourmet food enthusiasts -Temporary price reduction, -In-store demo - Purposeful eaters Scan based discount -Frequent buyer program - Vegetarian Jerky -In-store demo - Female segment -$19m target market Key Resources Channels Revenue Stream - Jon Sebastiani -Direct to consumer – web -$5.95 - Direct to store delivery -Vending machines - National distribution -Specialty stores (Cost Plus) -Supermarkets (✔) -Krave Jerky Stores
  • 19. KRAVE CANVAS SUMMARY WEEK 3Key Partners Key Activities Value Prop-Transactions: Paypal, Visa, Mastercard -New distribution channels -Unique package-Channel to Consumer: HSN, Safeway, -In-store demos -Quality of meatFlash sale sites (Woot, Joss & Main, Fab) -Formal customer support -Health benefits of jerky-Public Relations Firm - GlodowNead service -Snack taste Cust. Relations Cust. Segments Cost Structure -Branding - Athletes -Slotting Fees -Customer education - Gourmet food enthusiasts -Temporary price reduction, -In-store demo - Purposeful eaters Scan based discount -Frequent buyer program - Vegetarian Jerky -In-store demo - Female segment (✔) -$19m target market Key Resources Channels Revenue Stream - Jon Sebastiani -Direct to consumer – web -$5.95 - Direct to store delivery -Vending machines - National distribution -Specialty stores (Cost Plus) -Supermarkets (✔) -Krave Jerky Stores
  • 20. KRAVE CANVAS SUMMARY WEEK 4Key Partners Key Activities Value Prop-Transactions: Paypal, Visa, Mastercard -New distribution channels -Unique package-Channel to Consumer: HSN, Safeway, -In-store demos -Quality of meatFlash sale sites (Woot, Joss & Main, Fab) -Formal customer support -Health benefits of jerky-Public Relations Firm - GlodowNead Service -Snack taste (✔) - Social media leverage Cust. Relations Cust. Segments Cost Structure -Branding - Athletes (✔) -Slotting Fees -Customer education - Gourmet food enthusiasts -Temporary price reduction, -In-store demo -Purposeful eaters (✔) Scan based discount -Frequent buyer program - Vegetarian Jerky -In-store demo - Female segment (✔) -$19m target market Key Resources Channels Revenue Stream - Jon Sebastiani -Direct to consumer – web -$5.95 - Direct to store delivery -Vending machines - National distribution -Specialty stores (Cost Plus) -Supermarkets (✔) -Krave Jerky Stores -Kiosks
  • 21. KRAVE CANVAS SUMMARY WEEK 5Key Partners Key Activities Value Prop-Transactions: Paypal, Visa, Mastercard -New distribution channels -Unique package-Channel to Consumer: HSN, Safeway, -In-store demos -Quality of meatFlash sale sites (Woot, Joss & Main, Fab) (✔) -Formal customer support -Health benefits of jerky-Public Relations Firm - GlodowNead service -Snack taste (✔) Cust. Relations Cust. Segments Cost Structure -Branding - Athletes (✔) -Slotting Fees -Customer education - Gourmet food enthusiasts -Temporary price reduction, -In-store demo - Purposeful eaters (✔) Scan based discount -Frequent buyer program - Vegetarian Jerky -In-store demo - Female segment (✔) -$19m target market Key Resources Channels Revenue Stream -Direct to consumer – web -$5.95 - Jon Sebastiani -Vending machines - Direct to store delivery -Specialty stores (Cost Plus) - National distribution -Supermarkets (✔) -Krave Jerky Stores -Airport kiosks -South Beach diet -Jerky store in Vegas
  • 22. KRAVE CANVAS SUMMARY WEEK 8Key Partners Key Activities Value Prop-Transactions: Paypal, Visa, Mastercard -New distribution channels -Unique package-Channel to Consumer: HSN, Safeway, -In-store demos -Quality of meatFlash sale sites (Woot, Joss & Main, Fab) (✔) -Formal customer support -Health benefits of jerky (✔)-Public Relations Firm - GlodowNead service -Snack taste (✔)-Manufacturing Cust. Relations Cust. Segments Cost Structure -Branding (✔) - Athletes (✔) -Slotting Fees -Customer education - Gourmet food enthusiasts -Temporary price reduction, -In-store demo - Purposeful eaters (✔) Scan based discount -Frequent buyer program - Vegetarian Jerky -In-store demo - Female segment (✔) -$19m target market Key Resources Channels Revenue Stream - Jon Sebastiani -Direct to consumer – web -$5.95 - Direct to store delivery -Vending machines - National distribution -Specialty stores (Cost Plus) (✔) -Supermarkets (✔) -Krave Jerky Stores -Airport kiosks (✔) -South Beach diet -Jerky store in Vegas
  • 23. KRAVE CANVAS SUMMARY WEEK 11 Key ActivitiesKey Partners -New distribution channels (✔) Value Prop-Transactions: Paypal, Visa, Mastercard -In-store demos -Unique package (✔)-Channel to Consumer: HSN, Safeway, KeHe -Formal customer support -Quality of meat (✔)Flash sale sites (Woot, Joss & Main, Fab) (✔) Service -Health benefits of jerky (✔)-Public Relations Firm - GlodowNead (✔) Social Media Leverage -Snack taste (✔)-Manufacturing (✔) Manufacturing Vertical Horizontal Integration Cost Structure Cust. Relations Cust. Segments -Slotting Fees -Branding (✔) - Athletes (✔) -Temporary price reduction, -Customer education - Gourmet food enthusiasts (✔) Scan based discount -In-store demo - Purposeful eaters (✔) -In-store demo -Frequent buyer program (✔) - Vegetarian Jerky -$19m target market - Female segment (✔) -Gross margin vs. Revenue Key Resources Channels Revenue Stream - Jon Sebastiani -Direct to consumer – web (✔) -$5.95(✔) - Direct to store delivery -Vending machines -KeHe/Tree of Life - National distribution -Specialty stores (Cost Plus) (✔) -Direct Sales(✔) -National Media (AP, WSJ, etc.) -Supermarkets (✔) -Flash sites(✔) -Gross margins versus top line revenues -Krave Jerky Stores -QVC(✔) -Airport kiosks (✔) -South Beach diet -Jerky store in Vegas
  • 24. KRAVE CANVAS SUMMARY WEEK 14 Key ActivitiesKey Partners -New distribution channels (✔) Value Prop-Transactions: Paypal, Visa, Mastercard -In-store demos -Unique package (✔)-Channel to Consumer: HSN, Safeway, KeHe -Formal customer support -Quality of meat (✔)Flash sale sites (Woot, Joss & Main, Fab) (✔) Service -Health benefits of jerky (✔)-Public Relations Firm - GlodowNead(✔) Social Media Leverage (✔) -Snack taste (✔)-Manufacturing (✔) Manufacturing-Order Fulfillment (✔) Vertical/Horizontal Integration(✔) Cost Structure Cust. Relations Cust. Segments -Slotting Fees -Branding (✔) - Athletes (✔) -Temporary price reduction, -Customer education - Gourmet food enthusiasts (✔) Scan based discount -In-store demo - Purposeful eaters (✔) -In-store demo -Frequent buyer program - Vegetarian Jerky -$19m target market (specialty jerky) - Female segment (✔) -Gross margin vs. Revenue(✔) Key Resources Channels Revenue Stream - Jon Sebastiani -Direct to consumer – web (✔) -$5.95 (✔) - Direct to store delivery -Vending machines -KeHe/Tree of Life - National distribution (✔) -Specialty stores (Cost Plus) (✔) -Direct Sales (✔) -National Media (AP, WSJ, etc.) (✔) -Supermarkets (✔) -Flash sites (✔) -Krave Jerky Stores -QVC (✔) -Airport kiosks (✔) -Cash flow -South Beach diet -2012 Projections -Jerky store in Vegas

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