Go Oats Oatmeal is a frozen oatmeal company that is popular for producing oatmeal rich in nutrition. The company came up on Shark Tank season 12. A lot of people think that oatmeal is only for breakfast. The company introduced this product to enhance its taste and reduce the time.
Nahum Jeankot set up this company. After appearing on Shark Tank, the founder appealed to the sharks to invest $150,000 in his company in return for a 10% stake in his business.
After conducting thorough research we have come to know that as of 2020 the market value of Go Oats was nearly $4.97 billion but in the coming 2027, it is going to become $8.63 billion. We all know that oatmeal is a very healthy food that is generally taken in breakfast. Most parents like to give it to their kids.
Let’s discuss Go Oats’ net worth in detail.
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Go Oats is a frozen oatmeal company that aims to provide customers with healthy oatmeal food that comes in a ready-to-eat format. The firm started its journey from Alexandria, Virginia, the United States. But currently, the company has expanded itself to various cities and supermarkets in the United States.
Oatmeal is such a kind of product that we may consume at any time, be it during breakfast or lunch. The product is rich in nutrition that keeps the human body fit.
Go Oats concentrates mainly on producing oatmeal. The company takes three steps to prepare its flagship product Go Oats Oatmeal In a Ball. First, good steel-cut oats are selected and then fresh dairy milk and natural flavours are mixed with it. Finally, the product is completely ready to sell.
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Nahum Jeannot founded the company Go. Oats. He is from Alexandria, Virginia, in the United States. He is also a chef besides being the inventor of the Go Oats company.
He received his Bachelor’s degree and Culinary Arts and Related Services/Hospitality Management degree from The Restaurant School at Walnut Hill College.
After finishing his education he served in Goodwin House Bailey’s Crossroads for 3 years. He also served as the banquet chef at the Hyatt Regency Tysons Corner Center. He left all his work and launched this company.
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Chef Nahum Jeannot is the inventor of the Go Oats company which is popular for producing a kind of oatmeal bites. The idea of starting this business came up in his mind in 2015 when he was serving at the Hyatt Regency.
He only wanted to produce delicious finger-licking food that people may have for breakfast or as a snack. Jeannot was inspired by the tasty oatmeal bowls often made by his mother and grandmother. It was indeed a very exceptional memory for him as well as his siblings.
Jeannot launched his version known as Go Oats based on his favourite childhood rememberings of homemade oatmeal. He aimed to retain the delicious taste but he wanted to replace the bowl.
As soon as the Go Oats oatmeal balls were served at the Hyatt Regency in the breakfast buffet, people adored the Go Oats oatmeal ball highly. From this, Jeannot made up his mind to distribute Go Oats oatmeal Bites to a larger audience.
Jeannot was serving as a full-time chef at the Hyatt Regency. Still, he took a commercial kitchen on rent so that he may make his Go Oats balls perfect. Jeannot contacted SCORE to get guidance and support. SCORE is a company that mentors particularly startups and small businesses free of cost.
Jeannot’s dedication and unique product managed to impress SCORE. That is why Jeannot was awarded their Perfect Product Pitch for GoOats in 2020.
After understanding the prospect of the product, Jeannot focused on increasing production and he was looking for a business partner. He thought that it would be best for him to come up on Shark Tank which would help him to fulfil his both goals. The approximate Go Oats’ net worth is nearly $800,000
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The company was successfully distributing its product before appearing on Shark Tank. You may purchase the product online as well as offline. People were talking in love with the product. You may also get the product in big supermarkets.
The products of the company are available in over 100 stores all over the United States. The products of the company are also available in Dawson’s Market, Meijer, Gelson’s, Vons, Whole Foods Market, etc.
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The founder of the company appealed to the sharks for an investment of $150,000 in return for a 10% share in the business.
According to the version Jeannot, he was laid off as chef because of the Covid-19 pandemic in March 2020 while all the hotels were closed. He thought that it came up as a blessing in his life as for this he was able to concentrate on Go Oats. He is now serving as the full-time Chief Oatmeal Officer of the company.
The sharks were impressed by his positivity and his delicious product. But they did not like the sales numbers and low margins when the founder disclosed the pricing of Go Oats.
Jeannot said that the company managed to earn $13000 in sales for its first year back in 2017. In 2019, the company earned $54,000 to $57,000 in sales. This report was collected when the company was distributing its product in Whole Foods.
Jeannot said that the manufacturing cost of every pack of Go Oats is $1.35 and the retail price of the product is $2.66 and they are told in the market at $4.99. After hearing this, one of the sharks, Mark Cuban remarked that he was not charging sufficiently.
Shark Kevin O’Leary said that everything above the cost must have $1. He also said that Jeannot was not making adequate profits to develop this business.
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The sharks were impressed by the product but they were not at all willing to invest in the company. One of the sharks, Barabara Cocoran, only showed her interest to invest in the company without thinking about the risk associated with it.
Barbara Cocoran said that she was willing to give the founder an offer. She also said that she was ready to invest $150,000 in the company but for this, the finder has to give up a 25% share of his business.
She also said that she would assist him to distribute his products in big box stores as she knew the process very well.
Jeannot then thanked her for her proposal and asked whether he could listen to the offers of the other sharks. Cochran said that she did not like that but she was ready to provide a counteroffer if the founder wanted.
The founder of the company said that he was waiting for that. Cochran then said that if the founder brought another shark it would make a committee. So, Corcoran advised that in place of it, it would be better for the founder to concentrate on one.
Jeannot gave a counteroffer to Cocoran. He said that he was ready to give up a 15% stake in his business if Barbara invests $150,000. Cocoran said that it was very low.
Barbara Cocoran then gave another counteroffer. She said that the founder has to give up a 20% stake in his business to finalize the deal. After that Jeannot fell in trouble as he was trying to decide what he ought to do then as it was the only offer he got on Shark Tank.
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The founder of Go Oats pitched his product very well in front of the sharks. He also explained the prospect of the product and how valuable it is going to be in the upcoming days. The founder appealed to the sharks for an investment of $150,000 in return for a 10% stake in the business.
There was a lot of discussion on the thing on Shark Tank. At last, Barbara Cocoran decided to invest in the company. She invested $150,000 in Go Oats in return for a 20% stake in the business.
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Go oats after Shark Tank decided to send its funding to manufacturing and marketing. The company was able to make free marketing of its product on TV for which it was able to get a huge number of orders. The business is functioning on a regular and subscription basis. That is why the company is giving 10% off on its product currently.
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Go Oats was able to generate only $13,000 in sales in the first year of starting the business. While the company appeared on Shark Tank it was earning $70,000 in sales per annum. But the fortune of the company changed completely when Barabara invested in the business.
After coming up on Shark Tank, the company was able to generate $500K in sales. After that, by taking assistance from Barbara the company was able to expand its business to a lot of retail stores and also reduced its manufacturing costs.
As of now, the revenue of the company is $4 million per year. The products of the company are now available in more than 310 stores in North America. Barbara is also having conversations with international companies so that the product of Go Oats can be distributed to 20 nations in Europe.
Go Oats’s net worth in 2022 is $800,000. The company is still developing. At the time of the Covid 19 pandemic, the sales of the company were reduced a little but now the founder has made a strategic plan for which the sales of the company are growing again.
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Yes, Go Oats is still very active in the business. The company has been encountering delays because of the flow of orders and a glitch in its website. The founder has given a post on his Instagram account that consumers may contact them for any issue they face with their orders.
You may also buy the GoOats Oatmeal in a Ball online from Amazon. But the product is now out of stock on Amazon as well as the website of the company.
The product is available now in more than 60 Whole Foods in seven states in the mid-Atlantic and also in more than 20 Heinen stores.
The company is also going to expand its products in Gelson’s Markets in California in January 2021.
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Nahum Jeannot after losing his job as a chef at the time of the Covid-19 pandemic managed to hit a jackpot by launching Go Oats. He has now become a multi-millionaire. The salary of the founder is now $100k. Moreover, every year he makes $500k profit from his business.
Jeannot has recently bought a brand new Mercedes AMG for himself the price of which is more than $290k. He has also purchased an apartment in New York by taking a mortgage loan from CitiBank.
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Barbara possesses a 20% stake in Go Oats. Besides, she takes home nearly $175,000 in profits every year from Go Oats which is higher than the money she has invested in the company.
As of now, Barbara has gained $260k from the company which means that she has already received the double amount of money she had invested in the business. The value of the 20% equity of Barabara is now nearly $3 million.
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A lot of people lost their jobs when the covid 19 pandemic broke out all over the world. The founder of Go Oats, Nahum Jeannot also lost his job as a chef during the pandemic as all the hotels were closed at that time. But he managed to recover himself.
After losing his full-time job as a chef in Hyatt Regency he took it very positively. He thought it was a good chance for him to do something else.
We know that when one door closes, another one opens. He grabbed the chance and started to concentrate on his business fully. For this, he put most of his energy and effort into it. He was successful in his efforts finally.
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What is Go Oats?
Go Oats is a popular frozen oatmeal company that is always the best choice for people who always live to have something filled with various flavours as well as healthy. These oatmeal balls are available in four flavours like maple brown sugar, blueberry, cinnamon, and cran-walnut.
What is the net worth of Go Oats?
When the company appeared on Shark Tank, the valuation of Go Oats was nearly $750,000. The net worth of Go Oats as of 2022 is $800,000.
Who set up Go Oats?
Nahum Jeannot set up Go Oats. He is from Alexandria, Virginia.
People have given positive reviews after testing it. The company has launched a new flavour recently which is strawberry. You may get the products of the company on Amazon, in Whole Foods Markets and Heinen’s.