Goodie Bag has emerged as a game-changer in the fight against food waste. With its innovative app, it connects restaurants and grocery stores with customers looking for affordable deals on excess food. This not only helps reduce food waste but also provides a financial boost to both businesses and consumers.

Saving Food and Saving Money with Goodie Bag

How Goodie Bag Works

Goodie Bag's app is a simple yet powerful tool that allows food establishments to post the availability of their excess food. Users receive notifications on their phones, informing them when food bags are ready for pickup. Customers then have a specific time frame to go to the designated location and grab the goods. The bags are priced at least half off the original price, and more commonly one third, making it an attractive option for budget-conscious shoppers.Since launching in January 2023, Goodie Bag has sold 90 percent of its listings. The company takes a 33 percent cut of what the customer pays, while the restaurant or retailer keeps the rest. This win-win situation has helped save customers over $500,000 and restaurants salvage over $300,000 in otherwise sunk costs.

Expansion Plans and Growth

Goodie Bag is not content with just a few markets. Connors, the founder, plans to expand to several other markets next year. With the help of the recent $1.3 million pre-seed round, the company expects to 10x its number of establishments in 2025. The goal is to be in every US retail market, starting with the independent local shops that make up 70 percent of that market.Part of the funds will be used to hire two new sales reps who go door-to-door to attract potential sellers. Connors' brother Jack, the head of partnerships, leads this operation. Along with the existing team, including Chief Operating Officer Briana Boehmer and other executives, Goodie Bag is well-positioned for growth.

Competing with Too Good To Go

While there are other players in the market, such as Too Good To Go, Goodie Bag has its own unique selling points. Connors believes that his competitor targets larger corporations and leaves a vacuum in the local, independent shop market. Goodie Bag, on the other hand, focuses on these smaller businesses and has added "deals" to its app to offer even more options to customers.The New York native, Eddy Connors, came to Colorado to study entrepreneurship and founded Goodie Bag with his fraternity brother Luke Siegert. After attending Silicon Flatiron's startup program and graduating from CU Boulder, the company has grown rapidly and received significant investments.

Impact and Future

Goodie Bag's impact goes beyond just financial savings. By reducing food waste, it helps the environment and promotes sustainable consumption. Connors is committed to pursuing scale and revenue growth while keeping an eye on profitability. He believes that with the right strategies and continued growth, Goodie Bag can make a significant difference in the food industry.In conclusion, Goodie Bag is a company with a clear mission and a bright future. Through its innovative app and business model, it is helping to solve two important problems: food waste and lost revenue. With its expansion plans and continued growth, it is set to become a major player in the US retail market.