The man behind a bizarre bacon-flavoured seasoning that's vegetarian-friendly has watched his idea grow into a booming business that now earns six figures a month.
Deliciou founder and CEO Kjetil Hansen, who dropped out of Melbourne University to focus on inventing a recipe for bacon-flavoured popcorn, earned $200,000 in July and expects to make around $500,000 in August.
The 26-year-old Norwegian scored a $300,000 investment from entrepreneur Andrew Banks on Shark Tank on Tuesday night, after being told that his projections were 'fanciful' by Boost boss Janine Allis.
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Kjetil Hansen scored a $300,000 investment from entrepreneur Andrew Banks on Shark Tank
He told The Daily Telegraph that sales had 'exploded' since filming, and that the business has expanded enormously in the US market.
'We could potentially do over $1 million this month. It’s hard to explain how difficult it is to handle this kind of growth, he said.
'It’s just insane. We did about $650,000 last financial year, and I think we’ll be able to do between $7 million and $12 million this year.'
On the dramatic Shark Tank episode, all but one potential investor backed out because he did not own the recipe for his product, meaning that his manufacturer 'had him by the balls'.
Mr Banks, however, offered to make a deal with Mr Hansen on two conditions - that the product could be genuinely classified as vegetarian, and that the intellectual property be negotiated back from the manufacturer.
As of last year when the episode was filmed, Mr Banks owns a 25 per cent stake in the bacon-seasoning business.
Kjetil Hansen pitched his bacon-seasoning company Delicou to judges on Ten's Shark Tank
Andrew Banks (left) bought a 25 per cent stake in Deliciou for $300,000 on Shark Tank
A week ago, Mr Hansen admitted that when he launched his business, he had zero experience, although he described himself as 'the most serious bacon-lover in the world'.
'Today we are one of the fastest growing startups in Australia with month-on-month growth of over 50 per cent,' he said.
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