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'''Live, Love, Sauce It Up!'''
'''Live, Love, Sauce It Up!'''
[[File:Siennasaucelogo.png|thumb|200x200px]]


== Summary ==
== Summary ==
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== Problem ==
== Problem ==
=== Condiments and sauces should add flavor, not unwanted salt and added sugar ===
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== Condiments and sauces should add flavor, not unwanted salt and added sugar ==
Condiments and sauces are a great way to liven up a dish; however so many offerings get their flavor from high fructose corn syrup and salt. For example, 2 tbsp of Sweet Baby Ray’s BBQ sauce has 290 mg of sodium and 2 tbsp of Heinz original ketchup has 320 mg. It’s time for a new-to-the-world brand to lead the way and create a better-for-you solution that isn’t short on flavor.  
Condiments and sauces are a great way to liven up a dish; however so many offerings get their flavor from high fructose corn syrup and salt. For example, 2 tbsp of Sweet Baby Ray’s BBQ sauce has 290 mg of sodium and 2 tbsp of Heinz original ketchup has 320 mg. It’s time for a new-to-the-world brand to lead the way and create a better-for-you solution that isn’t short on flavor.  


[[File:A23d89fd051a4969caeff2d8c3dd21d267d672.png]]
== Solution ==
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== Solution ==
== Sienna Sauce is a great-tasting, health-conscious, everything sauce led by Tyla-Simone and Monique Crayton ==
=== Sienna Sauce is a great-tasting, health-conscious, everything sauce led by Tyla-Simone and Monique Crayton ===
Sienna Sauce started when CEO Tyla-Simone Crayton began bottling her own sauce at 14 years old. In 2019 at 16 years of age, Tyla-Simone expanded it into a full-fledged business that now, in 2021, is ready to rocket into the stratosphere.
Sienna Sauce started when CEO Tyla-Simone Crayton began bottling her own sauce at 14 years old. In 2019 at 16 years of age, Tyla-Simone expanded it into a full-fledged business that now, in 2021, is ready to rocket into the stratosphere.


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== Product ==
== Product ==
=== Guilt-free sauces that make you want more ===
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== Guilt-free sauces that make you want more ==
All of our gourmet sauces are entirely free of high-fructose corn syrup, low in sodium, and gluten-free. They are a wonderful complement to any protein – grilled, baked, or fried. They add rich flavors to your favorite pasta, rice, and vegetable dishes, and are a great substitute for sugar- and salt-filled condiments.
All of our gourmet sauces are entirely free of high-fructose corn syrup, low in sodium, and gluten-free. They are a wonderful complement to any protein – grilled, baked, or fried. They add rich flavors to your favorite pasta, rice, and vegetable dishes, and are a great substitute for sugar- and salt-filled condiments.


Sienna Sauce comes in three tempting flavors:
Sienna Sauce comes in three tempting flavors:


* Our signature sauce, '''Sweet & Tangy''', will send your tongue into a frenzy with a rich sweetness and citrus finish.
* Our signature sauce, Sweet & Tangy, will send your tongue into a frenzy with a rich sweetness and citrus finish.
* '''Lemon''' '''Pepper''' has a perfect balance of cracked black pepper with a pleasing, tangy punch of lemon zest.
* Lemon Pepper has a perfect balance of cracked black pepper with a pleasing, tangy punch of lemon zest.
* '''Spice''' '''It Up!''' delivers a fresh chili pepper flavor with just the right amount of amazing sweet and tangy heat.
* Spice It Up! delivers a fresh chili pepper flavor with just the right amount of amazing sweet and tangy heat.
[[File:D75a9c17dca4b83f69421717ab087cef7c22250b.png]]


== Traction ==
== Traction ==
=== On path to reach $650K in revenue ===
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== On path to reach $650K in revenue ==
We pitched our product on Shark Tank on February 19, 2021 and received an on-air offer for a $100K investment from guest shark Kendra Scott. After our appearance on the show, we achieved over $300K in online sales in 48 hours.  Since then, we’ve been showcased in a FedEx digital marketing campaign, chosen by Verizon as a sauce of choice in their corporate cafes, and featured on Kelly Clarkson, Good Morning America, and CNBC.
We pitched our product on Shark Tank on February 19, 2021 and received an on-air offer for a $100K investment from guest shark Kendra Scott. After our appearance on the show, we achieved over $300K in online sales in 48 hours.  Since then, we’ve been showcased in a FedEx digital marketing campaign, chosen by Verizon as a sauce of choice in their corporate cafes, and featured on Kelly Clarkson, Good Morning America, and CNBC.


We are forecasted to achieve $650K in revenue this year, representing 5x YoY growth. We have 40K+ followers on social platforms. Plans for 2022 and beyond are to build our brand DTC and expand in grocery & mass retail, as well as strategic foodservice channels & venues.
We are forecasted to achieve $650K in revenue this year, representing 5x YoY growth. We have 40K+ followers on social platforms. Plans for 2022 and beyond are to build our brand DTC and expand in grocery & mass retail, as well as strategic foodservice channels & venues.
[[File:8bd26ff061b6c9d4ad6ac377b685d3096b746a11.png]]


== Customers ==
== Customers ==
'''Our consumers are looking for an "everything sauce" for everyday meals'''
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== Our consumers are looking for an "everything sauce" for everyday meals ==
Our traditional consumers are families and individuals who are health conscious and flavor-driven. We provide an "everything sauce" for everyday meals, as our versatility replaces countless sauces and condiments. As of now, our platform has 300+ 5-star reviews for our products. We’ve even had clients tell us they put Sienna Sauce on everything!
Our traditional consumers are families and individuals who are health conscious and flavor-driven. We provide an "everything sauce" for everyday meals, as our versatility replaces countless sauces and condiments. As of now, our platform has 300+ 5-star reviews for our products. We’ve even had clients tell us they put Sienna Sauce on everything!


[[File:B79ee85f4fa8de2a27380543c6f7ab7d26e81869.png]]
== Business model ==
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== Business model ==
== Sold via e-commerce, grocery retailers, and hospitality vendors ==
=== Sold via e-commerce, grocery retailers, and hospitality vendors ===
Sienna Sauce sells DTC via our own website, Amazon, and Walmart.com, as well as to food retail & contract foodservice and hospitality distributors. Our sauce currently comes in three flavors, Sweet & Tangy, Lemon Pepper, and Spice It Up! The sauces are sold in 14.5 oz bottles and 155 oz jugs.  
Sienna Sauce sells DTC via our own website, Amazon, and Walmart.com, as well as to food retail & contract foodservice and hospitality distributors. Our sauce currently comes in three flavors, Sweet & Tangy, Lemon Pepper, and Spice It Up! The sauces are sold in 14.5 oz bottles and 155 oz jugs.  


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== Market ==
== Market ==
'''The Sauces, Dressings and Condiments market is forecast to reach $181B by 2025'''
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The sauces, dressings & condiments market in the US is '''projected to surpass $181B by 2025''', and is currently '''growing at a CAGR of more than 4.8%'''. Our go-to-market plan is to continue to garner media coverage by staying newsworthy and continuing to innovate in all that we do. Another key facet is to master omni-channel marketing, and expand and win in food/mass retailers' competitions and retail shelves. As part of that, '''we're expanding our geographical footprint''' and '''introducing new packaging and flavors.'''
== The Sauces, Dressings and Condiments market is forecast to reach $181B ==
 
== by 2025 ==
The sauces, dressings & condiments market in the US is projected to surpass $181B by 2025, and is currently growing at a CAGR of more than 4.8%. Our go-to-market plan is to continue to garner media coverage by staying newsworthy and continuing to innovate in all that we do. Another key facet is to master omni-channel marketing, and expand and win in food/mass retailers' competitions and retail shelves. As part of that, we're expanding our geographical footprint and introducing new packaging and flavors.  


=== New label coming soon: ===
=== New label coming soon: ===
[[File:Dc4c385e3291359d6b85fb9ecc9b8f164a9c1586.png]]


== Competition ==
== Competition ==
=== Sauce it up with Sienna Sauce ===
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== Sauce it up with Sienna Sauce ==
Sienna Sauce is too big an idea to fit in one single box. It is a multi-use, multi-cultural product that is ready to multiply in sales by delivering a guilt-free sauce that works as a marinade, dip, condiment, ingredient, and yes, a barbecue sauce.  
Sienna Sauce is too big an idea to fit in one single box. It is a multi-use, multi-cultural product that is ready to multiply in sales by delivering a guilt-free sauce that works as a marinade, dip, condiment, ingredient, and yes, a barbecue sauce.  


[[File:45bfef5579d13d98fc606fe3108d1e4da1fc4dc4.png]]
== Vision and strategy ==
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== Vision and strategy ==
== Redefining the condiments industry ==
=== Redefining the condiments industry ===
At our core, we believe great flavor comes from what grows in the ground, not the lab.  
At our core, we believe great flavor comes from what grows in the ground, not the lab.  


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Our vision is to become a household brand name admired for making the world more flavorful without the crutch of added sugar, salt, or synthetic ingredients. Further, we will inspire and support youth entrepreneurship.  
Our vision is to become a household brand name admired for making the world more flavorful without the crutch of added sugar, salt, or synthetic ingredients. Further, we will inspire and support youth entrepreneurship.  
[[File:1a433e441299bdae23b1c5f4e6b7b0924596cf2.png]]


== Funding ==
== Funding ==
'''We ran a successful campaign on Republic last year and are back to supercharge our business'''
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We've also '''won capital prizes''' at '''Side Hustle Showdown''' and '''Revolt Pitch Competition.'''
== We ran a successful campaign on Republic last year and are back to supercharge our business ==
We've also won capital prizes at Side Hustle Showdown and Revolt Pitch Competition.


Now, Sienna Sauce is raising funds that will go towards staffing, marketing and operational expenses for our retail and foodservice expansion.  
Now, Sienna Sauce is raising funds that will go towards staffing, marketing and operational expenses for our retail and foodservice expansion.  
[[File:5822be8a94101ca51015ea59cad2cf9b0fa53eb.png]]


== Founders ==
== Founders ==
[[File:1c7a3fc77cdfe676be539c75c3b601fc0fa0109.png]]


== Sienna Sauce Team ==
== Sienna Sauce Team ==
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This is not a complete discussion of tax consequences of making an investment in the company, and Investors are encouraged to seek advice from competent legal, tax, investment advisors to assist in determining their specific tax consequences that result by making an investment or that may result after the securities convert, if ever. By default, limited liability companies with more than one member are treated as “partnerships” under the Code. Partnerships are required to file Form 1065 annually and distribute K-1s to each “partner.” Each partner is then obligated to report his or her proportionate share of income, gain, loss, deduction, or credit on his or her individual income tax return. The Company has made no assurances and is not under any obligation to, following a conversion event, make regular tax distributions, which means that following a conversion event, Investors could be allocated income without receiving any distribution of cash. In such an instance, the Investor would, nevertheless, be obligated to remit any tax payment to the IRS as well as any other taxing authority. Rather than continue as a partnership for federal income tax purposes, the Company may elect to be taxed as a C Corporation or an S Corporation (if permitted). Alternatively, the Company may, at some future point, determine that it would be in the Company’s best interest to convert to a corporation for both state law and tax law purposes. Investors should be aware that an investment in the Company could have significant tax consequences on the Investor’s individual return and such tax consequences are uncertain, at best. Tax laws are complex and frequently change.
This is not a complete discussion of tax consequences of making an investment in the company, and Investors are encouraged to seek advice from competent legal, tax, investment advisors to assist in determining their specific tax consequences that result by making an investment or that may result after the securities convert, if ever. By default, limited liability companies with more than one member are treated as “partnerships” under the Code. Partnerships are required to file Form 1065 annually and distribute K-1s to each “partner.” Each partner is then obligated to report his or her proportionate share of income, gain, loss, deduction, or credit on his or her individual income tax return. The Company has made no assurances and is not under any obligation to, following a conversion event, make regular tax distributions, which means that following a conversion event, Investors could be allocated income without receiving any distribution of cash. In such an instance, the Investor would, nevertheless, be obligated to remit any tax payment to the IRS as well as any other taxing authority. Rather than continue as a partnership for federal income tax purposes, the Company may elect to be taxed as a C Corporation or an S Corporation (if permitted). Alternatively, the Company may, at some future point, determine that it would be in the Company’s best interest to convert to a corporation for both state law and tax law purposes. Investors should be aware that an investment in the Company could have significant tax consequences on the Investor’s individual return and such tax consequences are uncertain, at best. Tax laws are complex and frequently change.
[[Category:Thesis]]
[[Category:Equities]]
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