Sometimes, all we need is a quick yet nutritious breakfast to get a good start for the day. Keeping this in mind, Nahum Jeannot presented these oatmeal balls as a snack in Shark Tank Season 12.
The most beautiful thing about this product is that it is pretty useful. Oatmeal is one of the most common breakfasts in America. All kinds of people add this to their breakfast menu, and it only makes sense that Jeannot wanted to present an easier way of eating this cereal.
The oatmeal balls stand out because they are cereals you can have on-the-go. The product is super simple to eat in bite-sized containers anytime, anywhere. Nahum based the entire product on his childhood, where he used to eat a bowl of oatmeal everyday. The story behind the product is also something that makes the product stand apart.
Nahum is a foodie through and through. He graduated from the Restaurant School at Walnut Hill College and has served as a chef in many of these places. He first created these oatmeal balls while managing a position at the Hyatt Regency Hotel. His idea behind the food is quite vast, but they came up with the Go Oats oatmeal balls, which allow you to eat oatmeal on the go.
The company is still active and creating all sorts of Go Oats oatmeal and oatmeal balls. We know more about the product now, so we’ll look at how the Shark Tank pitch went.
Nahum entered the Shark Tank looking for $150,000 for 10% of his business. He told the story of how he came to develop the Oatmeal Balls. He talked about the fact that he graduated from culinary school and worked at Hyatt Regency Hotel when he came up with the idea. He also said he had always been fascinated by finger breakfast food that people could opt for without worrying about formalities. He talked about how he wanted to use one of his favorite breakfast foods as an inspiration for his product. He went on to add that he was obsessed with oatmeal and would have it regularly as a child, which explains why he wanted to create a product of this kind.
Once he was done with his story, he talked about the different flavors that the product came in, which were the following: blueberry, cinnamon, cran-walnut, and brown maple sugar.
Then, he started with his pitch. The Sharks then sampled the oats. They seemed to enjoy them quite a bit. When it was time to talk about sales, they discussed how 2017 sales were only $13,000. In 2018, they grew to $57,000, which was quite a jump.
However, in 2019, he did not make any significant difference as he had a range of $54000-$57000 in sales. When he spoke of deals and prices, he mentioned how he sold them into stores for $2.66 when they cost $1.35 to make. He continued to say that they retailed at $4.99. Mark Cuban felt like it was not enough.
Next, Barbara stated that she wanted to make an offer. She drove an offer of $150,000 for 25%. She informed Nahum that she could help him in trying to get the cereal into more giant boxes. Nahum responded by saying that he wanted to hear the offers from the other sharks, to which Barbara stated her willingness to provide a counter offer. He asked if she could pull another shark in. Nahum asked if she could counter at 15%, and the two settled in the middle at 20%. Thus, the deal was successful.
Our Review of the Go Oats Oatmeal
There are many different benefits and issues with every kind of product. Let’s look into some of these below.
Pros of Go Oats Oatmeal
- It is Yummy. The go oats oatmeal is delicious, and we could see this by how much the Sharks seemed to enjoy the food that they were eating. Having a delightful product increases the likeliness of a sale.
- It is Healthy. The go oats oatmeal is also healthy, you’re not going to stack in a lot of carbs when you’re eating this oatmeal, and that is a feat all on its own.
- It is convenient. The Go Oatsoatmeal comes in the form of balls, making the product easier to carry and eat.
- It is affordable. The box retails for 5dollars, which is not challenging to fork out.
Cons of Go Oats Oatmeal
- Not priced properly. The business and the company are likely not to turn profits since the GO Oats oatmeal price is meager compared to the total cost of making each pack. Thus, that’s the biggest con.
Who is Go Oats Oatmeal For?
Go Oats Oatmeal is for anyone who wants to have a bowl of oatmeal in the morning but doesn’t have the time to slow down. It’s for everyone who wants to ensure they get a healthy and delicious breakfast, even if it’s on the go. Go Oats oatmeal is also for the people who genuinely seem to enjoy oatmeal and want to try a bunch of different flavors.
Are There Any Alternatives?
There aren’t any other alternatives to the Go Oats Oatmeal. However, many people can use this idea as an opportunity to make their oatmeal balls or bites. There aren’t any other major alternatives here. This means that Go Oats Oatmeal can dominate the market.
Our Final Thoughts
The primary factor that sets the product apart is the creator’s commitment to pay homage to his favorite breakfast food. The food is also convenient so you can eat it relatively quickly in the form of breakfast bites with milk. The one problematic factor about the product is that it’s not priced correctly. If it were, the sales would be so much better.
