SPECIAL SUPPLEMENT: Bacon Trends + Technology - March 2023 - 15

themselves, but they agreed it would have been
more beneficial sooner.
" We should have paid ourselves from day one, "
he said. " Just for that psychological aspect that
'I am building myself into this and being realistic
that my work has a cost and value.' So many people
think, 'Oh, I'll pay myself later.' "
Lewis agreed that getting paid is part of the
psychological well-being of entrepreneurs that is
often overlooked.
BACON BUBBLE
Thanks to those sacrifices and more, the company
did grow and exposure on several national media
platforms fueled the momentum with 2021 being
one of its best years. Next, the stakeholders agreed
a crowdfunding campaign would catapult them to
the next level.
" We had what we thought was a really solid
plan in place and the milestones we were reaching
were really exciting to see, " Lewis said.
" Things were going really well. "
And then an economic downturn combined
with brutal market volatility in 2022 flipped the
script, seemingly overnight.
" Maybe not surprisingly, but the best time then
kind of smacked into a wall of the most challenging
time, " Velasquez said.
The company's product
line was wildly
popular at specialty
retailers where
customers supported
the line of boutique
bacon products.
About halfway into the launch of the crowdfunding
campaign, which was exceedingly successful
at that point, all the momentum The
Baconer had built was quickly thwarted by inflation
that peaked midyear, including rising transportation
and fuel costs, which was devastating
for a small food company shipping perishable
products through the cold chain. Also fueling
the market volatility was the possibility that the
California-based company could face a dire pork
shortage with Proposition 12 legislation looming.
Additionally, many of the larger contributors
that were planning to invest in the crowdfunding
campaign began paring back their investment
plans significantly.
It was that perfect storm of instability and
skyrocketing costs that ultimately caused The
Baconer's stakeholders to fold.
" A bigger company probably could have
weathered through it, " Velasquez said. " It was
going to push the three of us personally into very
uncomfortable financial territory. We looked at
it very clear eyed and very matter of factly and
decided among us that this was the time, " he
said. " It was like, 'OK, this has been a great run;
an incredible thrill but this is a storm we're not
willing to go through. "
The trio had many meetings to discuss strategic
options as business slumped and achieving
goals wasn't occurring any longer. They began
exploring options to deal with the downturn,
including considering venture capital investments.
" We just weren't up for that, " Lewis said of the
VC option. " It just didn't make sense for us. "
A handful of potential buyers expressed interest
in acquiring the brand but given the economic
and market volatility at the time, they were
unable to justify a deal at that time.
Other options, like taking out second mortgages
or borrowing money to stay afloat were
not viable options for the team either. Ultimately,
the option that made the most sense to consider
was broached.
" What if we close? That's an option, " Lewis
recalled discussing.
When the last of the potential suitors reluctantly
declined to make a deal, which was
approximately in September 2022, the team
agreed to close The Baconer.
" We looked at everything and left no stone
unturned, " Velasquez said, " and it was pretty
clear that it was time. "
By the time the decision was made, production
had already been cut considerably and
MEAT+POULTRY 2023 BACON TRENDS + TECHNOLOGY
15

SPECIAL SUPPLEMENT: Bacon Trends + Technology - March 2023

Table of Contents for the Digital Edition of SPECIAL SUPPLEMENT: Bacon Trends + Technology - March 2023

SPECIAL SUPPLEMENT: Bacon Trends + Technology - March 2023 - Intro
SPECIAL SUPPLEMENT: Bacon Trends + Technology - March 2023 - 1
SPECIAL SUPPLEMENT: Bacon Trends + Technology - March 2023 - 2
SPECIAL SUPPLEMENT: Bacon Trends + Technology - March 2023 - 3
SPECIAL SUPPLEMENT: Bacon Trends + Technology - March 2023 - 4
SPECIAL SUPPLEMENT: Bacon Trends + Technology - March 2023 - 5
SPECIAL SUPPLEMENT: Bacon Trends + Technology - March 2023 - 6
SPECIAL SUPPLEMENT: Bacon Trends + Technology - March 2023 - 7
SPECIAL SUPPLEMENT: Bacon Trends + Technology - March 2023 - 8
SPECIAL SUPPLEMENT: Bacon Trends + Technology - March 2023 - 9
SPECIAL SUPPLEMENT: Bacon Trends + Technology - March 2023 - 10
SPECIAL SUPPLEMENT: Bacon Trends + Technology - March 2023 - 11
SPECIAL SUPPLEMENT: Bacon Trends + Technology - March 2023 - 12
SPECIAL SUPPLEMENT: Bacon Trends + Technology - March 2023 - 13
SPECIAL SUPPLEMENT: Bacon Trends + Technology - March 2023 - 14
SPECIAL SUPPLEMENT: Bacon Trends + Technology - March 2023 - 15
SPECIAL SUPPLEMENT: Bacon Trends + Technology - March 2023 - 16
SPECIAL SUPPLEMENT: Bacon Trends + Technology - March 2023 - 17
SPECIAL SUPPLEMENT: Bacon Trends + Technology - March 2023 - 18
SPECIAL SUPPLEMENT: Bacon Trends + Technology - March 2023 - 19
SPECIAL SUPPLEMENT: Bacon Trends + Technology - March 2023 - 20
SPECIAL SUPPLEMENT: Bacon Trends + Technology - March 2023 - 21
SPECIAL SUPPLEMENT: Bacon Trends + Technology - March 2023 - 22
SPECIAL SUPPLEMENT: Bacon Trends + Technology - March 2023 - 23
SPECIAL SUPPLEMENT: Bacon Trends + Technology - March 2023 - 24
SPECIAL SUPPLEMENT: Bacon Trends + Technology - March 2023 - 25
SPECIAL SUPPLEMENT: Bacon Trends + Technology - March 2023 - 26
SPECIAL SUPPLEMENT: Bacon Trends + Technology - March 2023 - 27
SPECIAL SUPPLEMENT: Bacon Trends + Technology - March 2023 - 28
SPECIAL SUPPLEMENT: Bacon Trends + Technology - March 2023 - 29
SPECIAL SUPPLEMENT: Bacon Trends + Technology - March 2023 - 30
SPECIAL SUPPLEMENT: Bacon Trends + Technology - March 2023 - 31
SPECIAL SUPPLEMENT: Bacon Trends + Technology - March 2023 - 32
https://digital.meatpoultry.com/sosland/mp/special-supplement-bacon-trends-technology-march-2023
https://digital.meatpoultry.com/sosland/mp/meatpoultry-march-2023
https://digital.meatpoultry.com/sosland/mp/meatpoultry-february-2023
https://digital.meatpoultry.com/sosland/mp/meatpoultry-january-2023
https://digital.meatpoultry.com/sosland/mp/meatpoultry-december-2022
https://digital.meatpoultry.com/sosland/mp/meatpoultry-november-2022
https://digital.meatpoultry.com/sosland/mp/meatpoultry-october-2022
https://digital.meatpoultry.com/sosland/mp/special-supplement-ground-beef-trends-technology-september-2022
https://digital.meatpoultry.com/sosland/mp/meatpoultry-september-2022
https://digital.meatpoultry.com/sosland/mp/meatpoultry-august-2022
https://digital.meatpoultry.com/sosland/mp/meatpoultry-july-2022
https://digital.meatpoultry.com/sosland/mp/meatpoultry-june-2022
https://digital.meatpoultry.com/sosland/mp/special-supplement-meat-alternative-trends-and-technology-may-2022
https://digital.meatpoultry.com/sosland/mp/meatpoultry-may-2022
https://digital.meatpoultry.com/sosland/mp/meatpoultry-april-2022
https://digital.meatpoultry.com/sosland/mp/special-supplement-bacon-trends-technology-march-2022
https://digital.meatpoultry.com/sosland/mp/meatpoultry-march-2022
https://digital.meatpoultry.com/sosland/mp/meatpoultry-february-2022
https://digital.meatpoultry.com/sosland/mp/meatpoultry-january-2022
https://digital.meatpoultry.com/sosland/mp/-meatpoultry-december-2021
https://digital.meatpoultry.com/sosland/mp/meatpoultry-november-2021
https://digital.meatpoultry.com/sosland/mp/meatpoultry-october-2021
https://digital.meatpoultry.com/sosland/mp/special-supplement-ground-meat-trends-technology-october-2021
https://digital.meatpoultry.com/sosland/mp/meatpoultry-september-2021
https://digital.meatpoultry.com/sosland/mp/meatpoultry-august-2021
https://digital.meatpoultry.com/sosland/mp/meatpoultry-july-2021
https://digital.meatpoultry.com/sosland/mp/meatpoultry-june-2021
https://digital.meatpoultry.com/sosland/mp/meatpoultry-may-2021
https://digital.meatpoultry.com/sosland/mp/special-supplement-meat-alternatives-may-2021
https://digital.meatpoultry.com/sosland/mp/meatpoultry-april-2021
https://digital.meatpoultry.com/sosland/mp/meatpoultry-march-2021
https://digital.meatpoultry.com/sosland/mp/2021_02_01
https://digital.meatpoultry.com/sosland/mp/2021_01_01
https://digital.meatpoultry.com/sosland/mp/2020_12_01
https://digital.meatpoultry.com/sosland/mp/2020_11_01
https://digital.meatpoultry.com/sosland/mp/2020_10_01
https://digital.meatpoultry.com/sosland/mp/2020_09_01
https://digital.meatpoultry.com/sosland/mp/2020_08_01
https://digital.meatpoultry.com/sosland/mp/2020_07_01
https://digital.meatpoultry.com/sosland/mp/2020_06_01
https://digital.meatpoultry.com/sosland/mp/2020_05_01
https://digital.meatpoultry.com/sosland/mp/2020_04_01
https://digital.meatpoultry.com/sosland/mp/2020_03_01
https://digital.meatpoultry.com/sosland/mp/2020_02_01
https://digital.meatpoultry.com/sosland/mp/2020_01_01
https://digital.meatpoultry.com/sosland/mp/2019_12_01
https://digital.meatpoultry.com/sosland/mp/2019_11_01
https://digital.meatpoultry.com/sosland/mp/2019_10_01
https://digital.meatpoultry.com/sosland/mp/2019_09_01
https://digital.meatpoultry.com/sosland/mp/2019_08_01
https://digital.meatpoultry.com/sosland/mp/2019_07_11
https://digital.meatpoultry.com/sosland/mp/2019_06_01
https://digital.meatpoultry.com/sosland/mp/2019_05_01
https://digital.meatpoultry.com/sosland/mp/2019_04_01
https://digital.meatpoultry.com/sosland/mp/2019_03_01
https://digital.meatpoultry.com/sosland/mp/2019_02_01
https://digital.meatpoultry.com/sosland/mp/2019_01_01
http://digital.meatpoultry.com/sosland/mp/2018_12_01
http://digital.meatpoultry.com/sosland/mp/2018_11_01
http://digital.meatpoultry.com/sosland/mp/2018_10_01
http://digital.meatpoultry.com/sosland/mp/2018_09_01
http://digital.meatpoultry.com/sosland/mp/2018_08_01
http://digital.meatpoultry.com/sosland/mp/2018_07_01
http://digital.meatpoultry.com/sosland/mp/2018_06_01
http://digital.meatpoultry.com/sosland/mp/2018_05_01
http://digital.meatpoultry.com/sosland/mp/2018_04_01
http://digital.meatpoultry.com/sosland/mp/2018_03_01
https://www.nxtbook.com/sosland/mp/2018_02_01
https://www.nxtbook.com/sosland/mp/2018_01_01
https://www.nxtbook.com/sosland/mp/2017_12_01
https://www.nxtbook.com/sosland/mp/2017_11_01
https://www.nxtbook.com/sosland/mp/2017_10_01
https://www.nxtbook.com/sosland/mp/2017_09_01
https://www.nxtbook.com/sosland/mp/2017_08_01
https://www.nxtbook.com/sosland/mp/2017_07_01
https://www.nxtbook.com/sosland/mp/2017_06_01
https://www.nxtbook.com/sosland/mp/2017_05_01
https://www.nxtbook.com/sosland/mp/2017_04_01
https://www.nxtbook.com/sosland/mp/2017_03_01
https://www.nxtbook.com/sosland/mp/2017_02_01
https://www.nxtbook.com/sosland/mp/2017_01_01
https://www.nxtbook.com/sosland/mp/2016_12_01
https://www.nxtbook.com/sosland/mp/2016_11_01
https://www.nxtbook.com/sosland/mp/2016_10_01
https://www.nxtbook.com/sosland/mp/2016_09_01
https://www.nxtbook.com/sosland/mp/2016_08_01
https://www.nxtbook.com/sosland/mp/2016_07_01
https://www.nxtbook.com/sosland/mp/2016_06_01
https://www.nxtbook.com/sosland/mp/2016_05_01
https://www.nxtbook.com/sosland/mp/2016_04_01
https://www.nxtbook.com/sosland/mp/2016_03_01
https://www.nxtbook.com/sosland/mp/2016_02_01
https://www.nxtbook.com/sosland/mp/2016_01_01
https://www.nxtbook.com/sosland/mp/2015_12_01
https://www.nxtbook.com/sosland/mp/2015_11_01
https://www.nxtbook.com/sosland/mp/2015_10_01
https://www.nxtbook.com/sosland/mp/2015_09_01
https://www.nxtbook.com/sosland/mp/2015_08_01
https://www.nxtbook.com/sosland/mp/2015_07_01
https://www.nxtbook.com/sosland/mp/2015_06_01
https://www.nxtbook.com/sosland/mp/2015_05_01
https://www.nxtbook.com/sosland/mp/2015_04_01
https://www.nxtbook.com/sosland/mp/2015_03_01
https://www.nxtbook.com/sosland/mp/2015_02_01
https://www.nxtbook.com/sosland/mp/2015_01_01_mp
https://www.nxtbook.com/sosland/mp/2014_12_01
https://www.nxtbook.com/sosland/mp/2014_11_01
https://www.nxtbook.com/sosland/mp/2014_10_01
https://www.nxtbook.com/sosland/mp/2014_09_01
https://www.nxtbook.com/sosland/mp/2014_08_01
https://www.nxtbook.com/sosland/mp/2014_07_01
https://www.nxtbook.com/sosland/mp/2014_06_01
https://www.nxtbook.com/sosland/mp/2014_05_01
https://www.nxtbook.com/sosland/mp/2014_04_01
https://www.nxtbook.com/sosland/mp/2014_03_01
https://www.nxtbook.com/sosland/mp/2014_02_01
https://www.nxtbook.com/sosland/mp/2014_01_01
https://www.nxtbook.com/sosland/mp/2013_12_01
https://www.nxtbook.com/sosland/mp/2013_11_01
https://www.nxtbook.com/sosland/mp/2013_10_01
https://www.nxtbook.com/sosland/mp/2013_09_01
https://www.nxtbook.com/sosland/mp/2013_08_01
https://www.nxtbook.com/sosland/mp/2013_07_01
https://www.nxtbook.com/sosland/mp/2013_06_01
https://www.nxtbook.com/sosland/mp/2013_05_01
https://www.nxtbook.com/sosland/mp/2013_04_01
https://www.nxtbook.com/sosland/mp/2013_03_01
https://www.nxtbook.com/sosland/mp/2013_02_01
https://www.nxtbook.com/sosland/mp/2013_01_01
https://www.nxtbook.com/sosland/mp/2012_12_01
https://www.nxtbook.com/sosland/mp/2012_11_01
https://www.nxtbook.com/sosland/mp/2012_10_01
https://www.nxtbook.com/sosland/mp/2012_09_01
https://www.nxtbook.com/sosland/mp/2012_08_01
https://www.nxtbook.com/sosland/mp/2012_07_01
https://www.nxtbook.com/sosland/mp/2012_06_01
https://www.nxtbook.com/sosland/mp/2012_05_01
https://www.nxtbook.com/sosland/mp/2012_04_01
https://www.nxtbook.com/sosland/mp/2012_03_01
https://www.nxtbook.com/sosland/mp/2012_02_01
https://www.nxtbook.com/sosland/mp/2012_01_01
https://www.nxtbook.com/sosland/mp/2011_12_01
https://www.nxtbook.com/sosland/mp/2011_11_01
https://www.nxtbook.com/sosland/mp/2011_10_01
https://www.nxtbook.com/sosland/mp/2011_09_01
https://www.nxtbook.com/sosland/mp/2011_08_01
https://www.nxtbook.com/sosland/mp/2011_07_01
https://www.nxtbook.com/sosland/mp/2011_06_01
https://www.nxtbook.com/sosland/mp/2011_05_01
https://www.nxtbook.com/sosland/mp/2011_04_01
https://www.nxtbook.com/sosland/mp/2011_03_01
https://www.nxtbook.com/sosland/mp/2011_02_01
https://www.nxtbook.com/sosland/mp/2011_01_01
https://www.nxtbook.com/sosland/mp/2010_12_01
https://www.nxtbook.com/sosland/mp/2010_11_01
https://www.nxtbook.com/sosland/mp/2010_10_01
https://www.nxtbook.com/sosland/mp/2010_09_01
http://digital.meatpoultry.com/sosland/mp/2010_08_01
http://digital.meatpoultry.com/sosland/mp/2010_07_01
http://digital.meatpoultry.com/sosland/mp/2010_06_01
http://digital.meatpoultry.com/sosland/mp/2010_05_01
http://digital.meatpoultry.com/sosland/mp/2010_04_01
http://digital.meatpoultry.com/sosland/mp/2010_03_01
http://digital.meatpoultry.com/sosland/mp/2010_02_01
http://digital.meatpoultry.com/sosland/mp/2010_01_01
http://digital.meatpoultry.com/sosland/mp/2009_12_01
http://digital.meatpoultry.com/sosland/mp/2009_11_01
http://digital.meatpoultry.com/sosland/mp/2009_10_01
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http://digital.meatpoultry.com/sosland/mp/2009_08_01
http://digital.meatpoultry.com/sosland/mp/2009_07_01
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