Shark Lori and founder of GoodLove Foods on Shark Tank Season 16 (image credit- Instagram @sharktankabc)
It is a shame that we still have only limited options when it comes to gluten-free food. The founder of GoodLove Foods, Chennelle Diong, believes that she has cracked the code to gluten-free baked goods.
There has been a shared love for food in Chennelle’s family, be it her Filipino father’s delicious lumpia, her American mother’s iconic cheesecake, or her own biscuit recipe. But there came a twist when she was diagnosed with celiac disease. As a result, she founded GoodLove Foods, which offers a list of frozen, ready-to-bake goods that are gluten-free.
Will Chennelle Diong find her mentor, her ‘GFF’ (Gluten-Free Friend), or is there something else written in GoodLove Foods’ destiny?
About GoodLove Foods
| Category | Details |
| Founder | Chennelle Diong |
| Product Type | Gluten-Free Frozen Baked Goods |
| Funding | Self Funded |
| Investment Ask | $150,000 |
| Equity Offered | 5% |
What Happened on the Shark Tank Episode?
Chennelle came on Shark Tank with a warm and upbeat energy, which matched well with the sweetness of her desserts. She came prepared with a mouth watering visual presentation compiling glimpses of the food preparations. The Sharks were presented with a yummy menu of gluten-free goods, and they dug in one by one, falling for the irresistible desserts. Barbara liked them so much that she did not believe they were gluten-free.
The pitch was full of fun wordplay and engaging moments that kept both the Sharks and the viewers hooked. Chennelle took everyone by surprise when a fellow Celiac came in skating and started vibing to the GoodLove Foods anthem.
The Sharks asked Chennelle the following questions:
1.“How do you compensate for all the gluten-like elements that are missing and do you use sodium and fat?”
She addressed the Sharks’ concerns and told them that she only uses natural ingredients. For items like biscuits, cinnamon rolls, and puff pastry, they use sweet cream butter, which provides the fat. It is nothing other than “good old-fashioned butter.”
2. “Is shipping food with ice too expensive?”
She simply replied, “Yes, it is expensive.” She further explained that they have healthy 75% margins on all products. However, with shipping costs, the margins drop to about 25%.
3. “How much does a bag of biscuits retail for?”
She replied, “$11.99 in retail. Online, it costs a few dollars more due to the premium charged for shipping.
4. “What do you envision for your company five years from now?”
Chennelle shared her goal of becoming a grocery store staple.
Apart from all these questions, Chennelle told the Sharks that her return customer rate is 30% to 35%, and her retail sales are also doing phenomenally well. They are currently looking for a turnkey solution for D2C so they can increase their profits. They have recently invested in their own facility and now handle manufacturing themselves. During this process, Chennelle even had to sell her house and move to a different town.
What Makes GoodLove Foods Unique?
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These sweet delights are not just Celiac-safe (meaning gluten-free) but also allergen-friendly. Their fat comes solely from butter and nothing else. They make their food free of seed oils or any other oils, for that matter, ensuring a cleaner and more natural ingredient list. Additionally, all their products are:
- Nut free
- Egg-free
- Soy-free
- Oat-free
Other gluten free products available in the market are generally not that tasty, but with her amazing list of frozen goods, Chennelle believes that she is the new a gluten guru. All the items are available for $12.99 each on her website.
Did GoodLove Foods Get a Deal on Shark Tank?
Shark Daniel expressed his concern about the business model, calling it ‘very, very difficult.’ Kevin found the proposed valuation too high, which is why he did not make an offer. Barbara’s reason was a little different—she told Chennelle, ‘It’s almost like you’ve got all the answers,’ which made her uncomfortable.
When it came down to Shark Lori, she expressed her interest and made an offer of $150K for a 20% stake, which was a little higher than what Chennelle had hoped for. But given Lori’s expertise and connections, it was clear to Chennelle that the road ahead with Lori was going to be a glorious one.
After a little more negotiation, both parties shook hands at $150K for an 18% stake.
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Where Can You Buy It?
Craving delicious, allergen-friendly, gluten-free baked goods? You can find GoodLove Foods products directly on their official website. Plus, take advantage of their special offer: Buy 5 get 1 at 50% off.
Quick Summary
- GoodLove Foods offers a line of gluten-free products that don’t compare to any other brand—these are the tastiest, most delicious gluten-free items you’ll find.
- Her food is nut-free, oat-free, egg-free, and soy-free. It is allergen-friendly and made only with natural ingredients.
- Chennelle Diong went through various phases in her business journey, and as a new key milestone, she entered Shark Tank and secured a deal with Shark Lori.
