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Analyst Report: Upgrade for access Cool Beans Gives Vegans More Diverse Options
Cool Beans lets customers enjoy plant-based frozen burritos at home. Although trends are in its favor, the company faces stiff competition.
- Company: Cool Beans
- Security Type: SAFE
- Valuation: $6,000,000
- Min Investment: $100
- Platform: Republic
- Deadline: Dec 28, 2022
In the early stages of the pandemic, Americans started to change their grocery shopping habits. Wanting to avoid unnecessary trips to the store, a growing number of shoppers reached for frozen food options. And the demand for frozen food has remained high. Frozen food sales were up 26% at the beginning of 2022 compared to two years ago.
Frozen meals are convenient. But they have a reputation of being unhealthy, unappetizing, and flavorless. Cool Beans, with its plant-based frozen wraps, is trying to change that.
The company offers five different flavors of frozen vegan wraps, including chipotle burrito and tikka masala. And every wrap includes beans.
Cool Beans has the potential to expand because it’s entering the fast growing plant-based food market at a time when frozen meals are trendy. A team of food industry veterans leads the company, and it is already showing traction. But in order to succeed, Cool Beans will have to execute its operations at a high level and build a strong brand in a space that has no shortage of established and up-and-coming competitors. That is a very difficult thing to do.
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