Zack Oats, founding father of The Excellent Pitch sponsor Ovation, Flake Pie Co. founders Rick Timmons and Todd Smith, and Fastcasual.com editor Cherryh Cansler. Picture by Networld Media Group
Following a world contest, 5 fledgling manufacturers competed for a money prize and the title of The Excellent Pitch on the Quick Informal Government Summit on Oct. 10 in Indianapolis, Indiana. The businesses’ executives addressed Summit attendees in addition to a panel of advisors who provided recommendation on the right way to develop their ideas.
Advising this 12 months’s contestants had been Jim Balis, managing director of strategic operations group for CapitalSpring, Zack Oates, founder and CEO of Ovation, and Max Sheets, founder and CEO of final 12 months’s The Excellent Pitch, Chick N Max. The occasion was sponsored by Ovation.
In the long run, Flake Pie Co. took dwelling the 2022 prize.
Co-founders Rick Timmons and Todd Smith launched the advisory panel to their idea, Utah-based Flake Pie Co. The model sells candy and savory personal-sized pies. The purpose of Flake Pie Co. is to make pie a extra private and extra frequent dessert. The private measurement allowed every particular person in a celebration to decide on their very own pie taste.
The model first opened in 2020, proper in the midst of the pandemic, with about 10 flavors of pies able to go. Pie flavors embrace raspberry, chocolate and caramel, key lime, banana, apple and cookie dough, with names like Apple of My Eye and Biggest Dough on Earth. Seasonal favorites embrace Who Squashed the Cheese, a cheesecake and pumpkin pie with pecans and salted caramel, and Life’s a Peach, with peaches, streusel topping and a maple drizzle on a signature crust.
The model additionally originated, Flakies, Flake’s handmade model of the toaster pastry.
Gross sales for the corporate’s first calendar 12 months was $907,000 out of simply over 1,100 sq. ft. The model did over $9,000 in gross sales on Pi Day, March 14. Flake Pie Co. wasn’t simply constructed for holidays but in addition for company occasions, weddings, date nights and household get togethers.
A 3-pack field was designed at a slight low cost.
Flake Pie Co. opened its second retailer within the spring of 2022, leaning in on the nostalgia of pies and introducing indoor seating.
“Through the pandemic, folks ate a ton of desserts,” Smith stated. “It was extra form of comforting to them. They have an inclination to carry up effectively. The opposite good thing about desserts is that persons are virtually proof against pricing. They’re keen to pay just a little bit extra to deal with themselves.
“We’re each from the Midwest the place pies are part of life. They don’t seem to be as huge of a factor in Salt Lake so it has been just a little little bit of an training for folks, gravitating from the massive $10 Costco monster (pies) to private sized pies. We predict it travels nice.”
Timmons stated staffing is completely different than a typical quick informal, as with baking you have to get forward. “We are likely to run early morning shifts with bakers within the again,” he added. It is simpler to workers as a result of there are not any ticket instances.
Timmons and Smith are engaged on opening their third restaurant simply doing off-premise gross sales.
The Excellent Pitch nominations got here from world wide, and the editorial board at FastCasual chosen the 5 manufacturers to make their pitches on the Summit. Moreover Flake Pie Co., the opposite finalists included New York Metropolis-based Bango Bowls; Scorching Chickn Kitchn in Woodbridge and Stafford Virginia; Asian idea Lazy Susan in California and Paradise Smoothie Juice Bar out of the Atlanta space.
