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In early 2017, Megan Feeman launched the online store for NoBaked Cookie Dough, in Nashville, TN, which quickly transitioned into pop-up shops around the Nashville area. By the fall of 2017, selling in-person had become so successful that Megan and her husband, Jimmy, decided to open a physical storefront. NoBaked has since franchised and has locations across multiple states.
When COVID 19 caused our shops to shut down, we made the decision to pivot, putting all of our marketing efforts toward our eCommerce revenue channel, selling our cookie dough on our website, Amazon.com and Walmart.com. Today, we’re now making 71% of our revenue from online sales and we’ve done a $1.75 million in sales in just the last year. We are now shipping our delicious cookie dough all over the United States!
The Problem
Cookie dough is a delicious sweet treat, loved by many. However, after some internal market research, NoBaked realized there is a lack of safe-to-eat cookie dough options on the market that taste fresh and homemade, and can also be baked.
While other companies model their recipes after regular cookie dough, producing an unfavorable texture and flavor, NoBaked tastes like it was meant to be eaten raw, with no bitter aftertaste or grainy texture.
The Solution
NoBaked offers safe-to-eat cookie dough that tastes homemade and can be baked, too, if you prefer! Our dough uses heat-treated flour and no eggs, making it completely safe to eat raw.
Currently we have 8 different varieties of cookie dough along with a rotating seasonal flavor every two months. We have dairy-free and gluten-free options, as well.
The Market
The cookie category was up 5.1%, with $9.3 billion in total sales, during the 52-week period that ended April 19, 2020 . Our market segment, the refrigerated cookie/brownie dough segment, grew 9.3% to $571.8 million, during that time period, as well.
The safe-to-eat cookie dough space is a rapidly growing category and is only going to grow larger in the coming years.
Our Traction
Just in the past year, we’ve done $1.75M in sales, with 66% of sales coming from eCommerce. Our YoY eCommerce sales have increased by 1534% in 2020, and we aim to continue this growth into 2021. Our total sales are up more than 67% in 2020, despite the pandemic and previous shutdowns of our physical locations.
This year, we also began selling our products on Amazon.com and Walmart.com. Within one month of launching on Amazon.com, we became the #1 Best Seller in the Refrigerated Doughs category.
Our customer email list reached 35,000 subscribers just 6 months after its start and we've seen incredible growth on our Instagram account which was verified in May of 2019, surpassing 50,000 followers in August 2020. We have also been featured by various major press outlets including USA today!
What We Do
Our product is a cookie dough that you can both eat and bake. It comes in a jar, but tastes like it was made from scratch in your own kitchen! Made with ingredients that leave no bitter taste in your mouth, our safe-to-eat cookie dough is one that actually tastes good. Our delicious product combined with our relatable brand is something you just can’t find in your local grocery store.
The Business Model
Our new business model is a focus on pre-packaged cookie dough sold via eCommerce through our Shopify site, Amazon.com, and Walmart.com. We intend to use the capital from this raise to begin wholesaling our cookie dough to grocery stores, restaurants, and other retailers.
For our online store, our average order is $38.75, average product is $8.00, gross profit (post shipping, fulfillment, and packaging) is $27.60, and customer acquisition cost $12.89. Our contribution margin is $8.09 and lifetime value estimate is $49.13.
How We Are Different
Our product and brand are our two biggest differentiators. While there are other companies that sell safe-to-eat cookie dough, from what we have seen, few have a product that can also be baked. Many of our competitors modeled their recipes after regular cookie dough, which caused their product to have an unfavorable texture and flavor. We, on the other hand, created our recipe to taste like it was meant to be eaten, with no bitter aftertaste or grainy texture.
The Vision
We’re working to make our cookie dough available to consumers in all parts of the United States. We have gotten closer to accomplishing that by offering our products on Amazon.com, and Walmart.com, but we want to go even further. Our 5 year goal is to have NoBaked on the shelves of every major grocery store in the country.
OUR LEADERSHIP
CEO and Founder, Megan Feeman, leads the company with passion and creativity. Megan was honored as 2019 Nashville's 30 under 30, 2019 NEXT Awards Young Entrepreneur of the Year, 2020 Belmont Entrepreneur 100, and has been a featured speaker for TEDx Belmont University. Her husband and Co-Founder, Jimmy Feeman, is responsible for launching the company into the franchise market. His leadership with operations has made for a nearly seamless transition to eCommerce sales in the last year.
Together, Megan and Jimmy lead NoBaked’s highly skilled team toward a successful pivot from brick and mortar to eCommerce.
Why Invest
We’ve proven our ability to face challenges and come out stronger. When COVID 19 caused our shops to shut down, we took this challenge and pivoted to massively grow our online sales. By partnering with NoBaked, you’re joining forces with a company that has an established brand and well-loved product.
NoBaked has had the advantage of being one of the first companies to enter this market and has the right vision and plan in place to continue as a leader in this category.
Company | : | The NoBaked Company |
Corporate Address | : | 1200 Villa Pl #113, Nashville, TN 37212 |
Offering Minimum | : | $10,000.00 |
Offering Maximum | : | $1,070,000.00 |
Minimum Investment Amount(per investor) | : | $250.00 |
Offering Type | : | Equity |
Security Name | : | Common Stock |
Minimum Number of Shares Offered | : | 10,000 |
Maximum Number of Shares Offered | : | 1,070,000 |
Price per Share | : | $1.00 |
Pre-Money Valuation | : | $9,000,000.00 |
Voting Rights of Securities Sold in this Offering
Voting Proxy. Each Subscriber shall appoint the Chief Executive Officer of the Company (the “CEO”), or his or her successor, as the Subscriber’s true and lawful proxy and attorney, with the power to act alone and with full power of substitution, to, consistent with this instrument and on behalf of the Subscriber, (i) vote all Securities, (ii) give and receive notices and communications, (iii) execute any instrument or document that the CEO determines is necessary or appropriate in the exercise of its authority under this instrument, and (iv) take all actions necessary or appropriate in the judgment of the CEO for the accomplishment of the foregoing. The proxy and power granted by the Subscriber pursuant to this Section are coupled with an interest. Such proxy and power will be irrevocable. The proxy and power, so long as the Subscriber is an individual, will survive the death, incompetency and disability of the Subscriber and, so long as the Subscriber is an entity, will survive the merger or reorganization of the Subscriber or any other entity holding the Securities. However, the Proxy will terminate upon the closing of a firm-commitment underwritten public offering pursuant to an effective registration statement under the Securities Act of 1933 covering the offer and sale of Common Stock or the effectiveness of a registration statement under the Securities Exchange Act of 1934 covering the Common Stock.
*Maximum Number of Shares Offered subject to adjustment for bonus shares. See Bonus info below.
Time-Based Perks
Friends and Family Early Birds
Invest within the first 48 hours and receive additional 20% bonus shares.
Super Early Bird Bonus
Invest within the first week and receive additional 15% bonus shares.
Early Bird Bonus
Invest within the first two weeks and receive an additional 10% bonus shares.
Amount-Based Perks
$500 | Tier 1
Receive a free sample pack + 15% discount for life.
$1,000 | Tier 2
Receive a free sample pack + 20% discount for life.
$2,500| Tier 3
Free quarterly cookie dough subscription for a year + 20% life-time discount + 5% bonus shares.
$5,000 | Tier 4
Free monthly supply of cookie dough for a year + 20% life-time discount + 10% bonus shares.
$10,000 | Tier 5
Free monthly supply of cookie dough for a year + 20% life-time discount + 15% bonus shares.
$25,000 | Tier 6
Free monthly supply of cookie dough for a year + 20% life-time discount + 20% bonus shares + Trip to Nashville to see the production facility and dinner with the founders.
*All perks occur when the offering is completed.
The 10% StartEngine Owners' Bonus
The NoBaked Company will offer 10% additional bonus shares for all investments that are committed by investors that are eligible for the StartEngine Crowdfunding Inc. OWNer's bonus.
This means eligible StartEngine shareholders will receive a 10% bonus for any shares they purchase in this offering. For example, if you buy 100 shares of common stock at $1/ share, you will receive and own 110 shares for $100. Fractional shares will not be distributed and share bonuses will be determined by rounding down to the nearest whole share.
This 10% Bonus is only valid during the investors eligibility period. Investors eligible for this bonus will also have priority if they are on a waitlist to invest and the company surpasses its maximum funding goal. They will have the first opportunity to invest should room in the offering become available if prior investments are canceled or fail.
Investors will only receive a single bonus, which will be the highest bonus rate they are eligible for.
The Company will not incur any irregular use of proceeds.
A crowdfunding investment involves risk. You should not invest any funds in this offering unless you can afford to lose your entire investment. In making an investment decision, investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. These securities have not been recommended or approved by any federal or state securities commission or regulatory authority. Furthermore, these authorities have not passed upon the accuracy or adequacy of this document. The U.S. Securities and Exchange Commission does not pass upon the merits of any securities offered or the terms of the offering, nor does it pass upon the accuracy or completeness of any offering document or literature. These securities are offered under an exemption from registration; however, the U.S. Securities and Exchange Commission has not made an independent determination that these securities are exempt from registration.
Today is NoBaked's 4th birthday! I'm so proud of everything that we've accomplished in the past 4 years, and I'm even more excited to have new partners with us on the journey forward. We're so confident in the path we're on, I truly feel that the best is yet to come.
Happy 4th birthday to us!
We are beyond excited to announce that we've onboarded with a new fulfillment partner - Saddle Creek Logistics. Saddle Creek has been in business for over 50 years and serves thousands of clients. Up to this point, we've been fulfilling all of our orders in-house, including direct to consumer and wholesale orders. By onboarding with Saddle Creek, our shipping timelines will decrease by multiple business days and we will now have the ability to scale up order volume without hiccups in the fulfillment process.
For more info about Saddle Creek Logistics, visit their website: https://www.sclogistics.com
[The following is an automated notice from the StartEngine team].
Hello!
As you might know, NoBaked Cookie Dough has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in NoBaked Cookie Dough be on the lookout for an email that describes more about the disbursement process.
This campaign will continue to accept investments until its indicated closing date.
Thanks for funding the future.
-StartEngine
We've got so many exciting things happening, but I wanted to give you some fun info about our product offering! Each month, we offer a different seasonal flavor to our Subscribers (people who are "Subscribers" receive one box of Two Pint jars monthly, automatically). Offering seasonal flavors to them incentivizes our customers to become subscribers and keeps the subscription program exciting! This month's seasonal flavor is Lucky Charms Cookie Dough! Check it out -
We're so excited to announce that we've been accepted as a vendor for Performance Food Group (PFG). PFG is a food distributor that delivers more than 150,000 food and related products to customers across the United States. Onboarding with them means that our products can now be offered to their customers across the country. The opportunities for us to share our cookie dough with more and more people have just gotten greater! To read more about PFG, visit their website: https://www.pfgc.com/About
Stay tuned for more exciting updates!
Yesterday was the grand opening of The Assembly Food Hall at Fifth and Broad in downtown Nashville. We have a kiosk inside of the Food Hall and it finally opened yesterday, after being delayed a full year due to COVID-19. Check out this article in The Tennessean that highlights us and some of the other food companies in there: https://www.tennessean.com/story/money/2021/03/02/assembly-food-hall-what-try-first-eight-restaurants/4496019001/
Hi all! First off, thank you SO much for your amazing response. We're thrilled to have so many new partners.
Second, and speaking of partners, we're SO EXCITED to announce that we've onboarded with a manufacturer! The manufacturer is Old Souls Farm and they are located in St. Paris, Ohio. Onboarding with them brings our production capacity up to 10,000 jars per day with the ability to increase it to 30,000 jars per day! This will be huge for us as we launch into grocery stores and need to fulfill larger volume orders.
Here are some fun facts about Old Souls Farm:
Take a look at their facility:
- Megan
The day has finally come that we've launched our funding round! We're beyond excited to be doing this on StartEngine and we cannot wait to gain so many partners in our business. I'll continue to post company updates here because we've got some exciting things happening! If you're familiar with us, welcome back to the world of cookie dough! If this is your first time seeing us, welcome to the sweetest world I know - we're happy to have you☺
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