Convert Non-Protein People

Peter proposes expanding the protein bar market by targeting non-consumers, aiming to convert them into protein bar users. This strategy focuses on growing the overall market size rather than competing for existing customers.

Key Points:

• Current protein bar market size: Approximately $8 billion TAM (Total Addressable Market)

• Growth strategy:

  • Convert non-protein bar consumers into users
  • Bring new people into the category

• Market potential:

  • Clear path to $1 billion in top-line sales
  • Potential enterprise value:
    • 3-5x multiple on top-line revenue
    • Depending on growth and EBITDA

• Success threshold:

  • $1 billion in top-line revenue
  • Implies $3-5 billion enterprise value

• Focus:

  • Expanding the overall market
  • Not just competing for existing protein bar consumers