Assertion Not checkable as stated
Bosch: SmartSweets' first co-packer stole the recipe to launch a competitor
“That manufacturer took the recipe and ended up going on to launch a product themselves,”
Assertion Not checkable as stated
Bosch: Former manufacturer planted metal in SmartSweets bags before national launch
“When Whole Foods, when we're like, okay, we're doing a national launch with them, simultaneously, at the same time, the first manufacturer that we had, sketchy things start happening. There's metal that's starting to be found in some bags. There's I get a call…”
Disclosure
SmartSweets raised $3M on common shares using only a four-page deck
“Once they supported me we closed the round in two weeks. And had a really clear philosophy about this is common shares, so there was never any preferred shares, and that was it, and we didn't share financials or anything beyond just like the four page deck tha…”
Insight
Bosch: Candy requires physical retail distribution because it is an impulse purchase
“So, I always felt clear that e-com, I think for us, was going to be a surprise and delight, but that candy is an impulse purchase, and People are gonna wanna have a sweet tooth and pick up the bag in store.”
Disclosure
SmartSweets' first employee worked unpaid for a year before getting equity
“I basically wasn't for the first year, and then I paid her 30 grand and gave her equity.”
Insight
Bosch: Retail packaging must communicate its value proposition within three seconds
“Like, the notion of, you know, three seconds or less consumers have to understand what you're Doing and be compelled enough to pick it up off shelf.”
Assertion Supported
SmartSweets crossed $100 million in annual revenue by 2020
“Coming up in 2020, we crossed over the hundred million mark in revenue”
Assertion Not checkable as stated
Bosch: The candy aisle saw no product innovation since the 1930s
“Almost every vertical by then There had been innovation. In the ice cream aisle, Halo Top Creamery was blowing up at that time. In chips, there were all sorts of things, but nobody was innovating in Canada. It was the same thing that we were enjoying that our …”
Disclosure
Bosch launched SmartSweets using $8,000 saved from working at McDonald's
“I had probably at that point around 8000 dollars from just saving since I was starting at McDonald's back when I was in my early teen years.”
Assertion Partly supported
Bosch: Traditional candy manufacturing machinery requires real sugar to run
“All candy manufacturers, their machinery needs sugar in order for the products to be able to be made because sugar is 99% of what is candy for it to run on the machine.”
Disclosure
Bosch pledged her 2009 Honda Fit to secure early debt financing
“The thing that I had to do was to put up my Honda Fit, and I had to take out life insurance, and so the loan was tied to me personally, of course.”
Assertion Not checkable as stated
SmartSweets offered retailers a 300% ring increase over traditional candy
“It's like two to 300%, an increase from traditional candy on their shelves.”
Disclosure
SmartSweets targeted functional directors instead of founders for brand partnerships
“We would often not message the brand's pages or the founders, but we would message, like, the director of marketing, the director of finance, the director of ops.”
Assertion Supported
Bosch walked away from an accepted Dragons' Den deal off air
“They all offered a deal at double the valuation I had gone in there for. On air, I had accepted a deal. Off air, chose not to go through with it, just because it didn't make sense anymore.”
Assertion Not checkable as stated
A Fox Business segment directly triggered SmartSweets' Whole Foods US launch
“Three minutes after the segment airs, I get an email from the global candy buyer at Whole Foods saying, hey, would you be interested in a global candy launch with Whole Foods? And I call Beth, and I'm like, I just got a spam email, but that would be amazing if…”
Disclosure
SmartSweets enforced a mandatory 12-hour response time across all social channels
“So across the board, we always had a twelve-hour response time for social media, whether it was DM, in our comments, hashtags, posting photos of smart suites. When we came to emails, it was 24 hours.”
Disclosure
SmartSweets' first five employees each received at least 1% equity
“So everyone had equity in the company, but Those first five people, they all had at least one percent.”
Assertion Not checkable as stated
Bosch illegally worked at McDonald's at age 13
“So when I was 13 I went and Got a job at McDonald's. I was, like, an illegal worker at the time for a year because I saw really how her having dependence on someone else impacted her so greatly.”
Assertion Not checkable as stated
Bosch's first hustle sourced $1 wall decals and sold them for $50
“I just put 800 bucks into it, and then just, like, what I made, reinvested margins were insane because the decals would cost me less than a dollar, and I'd be selling them for, like, 30 to 50 dollars.”
