Go Oats Net Worth: An innovative and novel way to eat oatmeal is with Go Oats. It is offered in convenient, nutritious, and satisfying oatmeal balls. Just as their slogan claims, Go Oats is “oatmeal in a ball.”
It can be consumed without a spoon or a bowl. Discover which Shark made an investment in Go Oats and how the company is faring following the transaction.
Go Oats Shark Tank Update
|Oatmeal In A Ball
|$150,000 For 10% Equity
|$150,000 For 20% Equity
|Episode (Shark Tank USA)
|Season 12 Episode 2
|Net Worth 2022 / Valuation
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Who is Go Oats?
The Go Oats oatmeal bits are a convenient and healthful alternative to the typical bowl of oats. Either three or nine balls are included in oven-safe packaging. A box of three balls contains just 107 calories, yet that’s more than enough for a hearty morning meal.
These nutritious oatmeal balls come in cinnamon, maple brown sugar, blueberry, and cran-walnut tastes. Oat balls with a crispy outside and a smooth interior. They use only all-natural ingredients and are preserved without any artificial preservatives.
People claim they are high in calcium, protein, fiber, and antioxidants. They only need a quick reheat in the microwave, oven, or air fryer to be ready for consumption.
Who Is The Founder Of Go Oats?
Nahum Jeannot, who is from Alexandria, Virginia, United States, started Go Oats. Along with the Founder Intrapreneur, there is also a chef. The Restaurant School at Walnut Hill College gave him his Bachelor’s degree in Culinary Arts and Related Services/Hospitality Management.
After he finished school, he worked for 3 years at Goodwinhouse Baileys Crossroads. He used to work at the Hyatt Regency Tysons Corner Center as the banquet chef. He quit everything to start this brand.
Shark Tank Featured Go Oats
Go Oats’ creator approached the Sharks for funding, offering $150,000 in exchange for 10% ownership. Jeannot said that the March 2020 hotel closures caused by the COVID-19 outbreak cost him his job as a chef. Having more spare time to focus on boat maintenance was seen as a positive by him.
He introduced himself as the new permanent “Chief Oatmeal Officer” of the business. The Sharks appreciated his upbeat attitude and the high quality of his goods, but they were concerned about the company’s poor sales and profit margins.
According to Jeannot, GoOats had annual revenues of $54,000 to $57,000 in its first year of operation (2017) and the same amount in its second year of operation (2018). While Go Oats were available for purchase at Whole Foods, this occurred.
When asked by Shark about his pricing strategy, he responded, “You’re not charging enough.” Jeannot told Mark Cuban that it costs $1.35 to produce a package of Go Oats, but he sells them to retailers for $2.66 and retails them for $4.99. Shark Kevin O’Leary advised a $1 markup on all products sold above cost if the company wanted to expand.
Go Oats, which was featured on Shark Tank, uses the https://t.co/EvLmrjoVFi domain name for its website.
— Elliot Silver (@DInvesting) October 28, 2020
How Did Go Oats start?
The GoOats oatmeal snacks were developed by chef Nahum Jeannot. In 2015, while working at the Hyatt Regency, he initially prepared a convenient breakfast dish. That’s why he set out to develop a tasty and entertaining finger food option for morning meals and midday munchies.
He claimed that the hearty oatmeal bowls his mom and grandma made for him and his siblings were an influence. Jeannot said, “In the mornings, I’d come down to a cup of porridge, prepared from scratch with real ingredients.” “I’ve recreated their favorite cereal from childhood, oatmeal, but without the bowl” with “GoOats.”
The oatmeal balls at the Hyatt Regency breakfast buffet were a hit with the patrons. Jeannot was inspired by this to introduce GoOats Oatmeal Bites. He was already working as a chef full-time when he decided to rent a commercial kitchen to create the scrumptious breakfast balls.
The founder of GoOats was suggested to join SCORE (Service Corps of Retired Executives), a nonprofit that offers free mentorship to entrepreneurs just getting their firms off the ground. Jeannot won SCORE’s Perfect Product Pitch in 2020 with his pitch for GoOats. Jeannot was hoping to increase production and find a business partner through Shark Tank.
What Is The Go Oats Net Worth?
Go Oats Net Worth In 2022, will be $800,000 and will continue to rise. His sales were significantly declining throughout the COVID19 period, but he is currently working to increase the product’s sales with the help of a new strategic plan. It is currently offered in 20 or more Hainan’s and 60 or more Whole Foods locations spread across seven states in the US.