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CHICKS
PE Pitch · Growth Equity Round
Asset-light protein-snack platform · proven unit economics
CHICKS
A high-protein chicken-chip brand with defensible margins and a clear EBITDA path.
$3M
Growth round · opportunity
28%
Target IRR · 5-yr hold
3×
Target MoIC
CHICKS.
24g
protein
Sour Cream & Onion
CHICKS.
24g
protein
BBQ
CHICKS.
24g
protein
Sea Salt
CHICKS · CONFIDENTIAL · NOT AN OFFER TO SELL FOUNDER NAME  ·  MONTH 2026 01 / 12
CHICKS
02 · Executive Summary
One slide · the opportunity

Buy a brand.
Inherit a
cash engine.

CHICKS is a high-protein chicken-chip brand with US white-label production, 50%+ gross margins at scale and a defensible product moat.

Yr 3 revenue target
$2.5M
Base-case model
Gross margin
46%
Expands to 55% with volume
Subscription target
38%
% of DTC orders
Repeat target · 60d
>35%
DTC cohort
The thesis
Capital-efficient
No factory. No CAPEX. Working capital scales with revenue.
Product moat
Proprietary chicken-chip formulation. Hardest protein snack to copy.
EBITDA visible
Positive Year 3 · 25%+ margin by Year 5.
Executive Summary $15M · 28% IRR · 4.2× MoIC · 5-yr hold 02 / 12
CHICKS
03 · The Problem & Market Gap
Protein-snack incumbents are puffs & bars

A $4.2B
category with
no chip.

Quest and Wilde sell puffs. Chomps sells jerky. Bars dominate sweet. Nobody owns crunchy, savory, high-protein in a real chip format.

A
Category fragmentation
Top 10 protein snacks hold < 35% of the BFY savory shelf — the rest is private label and look-alikes.
SPINS '25
B
Texture gap
No incumbent delivers true potato-chip texture at 20g+ protein. Quest = puff, Wilde = puff, Chomps = jerky.
Product
C
Consumer demand outpacing supply
71% of US consumers want more protein. Savory occasions are 4× the size of sweet — yet 80% of protein products are sweet.
IFIC · Cargill '25
D
Working-capital exposed competitors
Most BFY snack brands own or co-own facilities — every growth dollar locks into stainless steel.
Structural
Problem & Market Gap Sources: SPINS · Future Market Insights · IFIC · Cargill 03 / 12
CHICKS
04 · CHICKS Solution

A real chip,
elite macros,
multi-occasion.

CHICKS.
Sea
Salt
100 · 24g
CHICKS.
Sour
Cream
& Onion
100 · 24g
CHICKS.
BBQ
100 · 24g
Pre-workout

Fast-digesting protein, zero fat — pre-gym fuel.

Post-workout

24g protein per bag — recovery in a snack.

Lunch / late night

Crunch satisfaction that doesn't blow your macros.

Per-bag spec · 1 oz
100
Calories
24g
Protein
0g
Fat
2g
Net carbs
9mo
Shelf life
Why it sticks

The only RTE snack delivering 24g protein at 100 cal with true chip crunch. Macros and mouthfeel — no compromise.

Solution Real chip · 24g protein · 100 cal · 0g fat 04 / 12
CHICKS
05 · White Label Manufacturing

The margin story
lives here.

Chicky Shake co-manufacturing partnership

Chicky Shake is our US-based co-packer with the equipment, certifications and raw-material supply chain already in place. CHICKS owns the formula, brand and channel. They own the steel.

MOQ · per flavor
25K bags
Cost per bag · landed
$1.58
Lead time
35 days
Capacity headroom
3M bags/mo
Cost-per-bag curve · scale tiers
$1.58
25K
$1.36
100K
$1.18
500K
$1.04
1M
$0.92
3M+
Key takeaway

Zero CAPEX. Working capital scales with revenue. Every margin point above 50% drops to EBITDA.

White Label Chicky Shake = US co-manufacturer · made in USA 05 / 12
CHICKS
06 · Revenue Model

Bundle-led DTC
+ channel margin.

SKU / channel
Wholesale
MSRP
Gross margin
Reorder cycle
Single bag · grocery
$2.50
$4.49
37%
28 days
6-pack · nutrition retail
$16.20
$26.99
42%
21 days
Amazon FBA · 12-pack
—
$42.99
52%
30 days
DTC · 12-pack subscription
—
$52.99
68%
28 days
38%
Subscription share of DTC orders
$52.99
Blended DTC AOV
3.4 mo
DTC payback period
Revenue Model DTC margin engine + wholesale velocity 06 / 12
CHICKS
07 · Unit Economics Deep Dive

From COGS to contribution.

Margin waterfall · DTC 12-pack subscription
NET REVENUE
$52.99
COGS · 12 bags
($19.00)
Fulfillment + ship
($7.50)
GROSS PROFIT
$26.49 · 50%
CAC blended
($7.00)
Returns + refunds
($2.00)
CONTRIBUTION
$17.49 · 33%
Blended CAC
$42
Creator + paid social mix
12-mo LTV
$186
3.5× repeat · 38% sub
LTV : CAC
4.4 : 1
Best-in-class for snack DTC
Contribution-positive at
first order
Subscription locks recurring CM
Unit Economics 33% contribution · 4.4:1 LTV:CAC 07 / 12
CHICKS
08 · Traction & Proof Points

Demand signals before launch.

Projected revenue ramp · first 12 months post-launch
+28% MoM avg
M1M3M6M9M12
Pre-orders / waitlist
X,XXX
Committed · $52 AOV target
Repeat target
>35%
60-day cohort
Bags committed
XX,XXX
Pre-order units · 1 oz
Net Promoter
71
Customer pool
Demand signals
XXM TikTok impressions
First drop · Apr 15, 2026
GNC test-market talks
Vitamin Shoppe pilot LOI
Traction Real revenue · real subscribers · real reorders 08 / 12
CHICKS
09 · Financial Projections

EBITDA positive · Year 4.

($M)
Year 1
Year 2
Year 3
Year 4
Year 5
Revenue
$0.4
$1.1
$2.5
$4.8
$8.5
Gross profit
$0.2
$0.5
$1.3
$2.5
$4.7
Gross margin
42%
46%
50%
53%
55%
OPEX
($1.0)
($1.2)
($1.5)
($1.9)
($2.9)
EBITDA
($0.8)
($0.7)
($0.2)
$0.6
$1.8
EBITDA margin
—
—
—
13%
21%
Key assumptions: 28% MoM revenue growth Y1, tapering to 90% YoY by Y5. DTC + Amazon = 70% of revenue through Y3, wholesale builds Y3+. Gross margin expansion driven by volume-tier COGS and subscription mix. OPEX = marketing (40%), sales (20%), G&A (25%), R&D (15%).
Financial Projections 5-yr model · base case · sensitivity in appendix 09 / 12
CHICKS
10 · Operational Efficiency
Asset-light by design

Lean
team.
Heavy
output.

Every dollar of revenue flows through a structure that scales without adding stainless steel or stretched payroll.

Headcount today
6 FTE
Founder-led · brand, growth, ops
Revenue / FTE
$300K
Y3 target · top quartile CPG
CAPEX commitment
$0
No plant, no fleet, no warehouses
Working capital
42 days
Cash conversion · improves at scale
Outsourced surface area
Manufacturing
Chicky Shake · US
Fulfillment
ShipBob · 3 hubs
Amazon
FBA + Vendor Central
Creative
In-house lead + studio bench
Operational Efficiency Asset-light · outsourced · capital flows to brand 10 / 12
CHICKS
11 · Risk & Mitigation

We've stress-tested the model.

R1
Co-pack concentration
Single primary manufacturer (Chicky Shake) creates supply risk.
MITIGATION:
Secondary co-pack signed (Y2). Formula portable, IP retained by CHICKS.
R2
Big-CPG competition
Frito-Lay or Quest could launch a chicken-chip extension.
MITIGATION:
Brand + community moat. Speed advantage. Acquisition becomes the rational play, not competition.
R3
Chicken supply / avian flu
Poultry input pricing tied to commodity volatility.
MITIGATION:
6-month forward contracts. Egg-white reformulation runway available.
R4
Regulatory · USDA + FDA
Meat-bearing snacks fall under dual jurisdiction.
MITIGATION:
Co-pack is USDA-inspected. Outside counsel reviews all claims.
R5
Founder dependency
Brand voice currently founder-led on TikTok.
MITIGATION:
VP Brand hire in Y1 use-of-funds. Creator network already de-risks single-voice dependency.
Risk & Mitigation Every risk has an owner and a deadline 11 / 12
CHICKS
12 · The Ask & Returns
Growth equity round
$3M
Pre-money
$12M
Hold period
5 yrs
Target IRR
28%
Target MoIC
4.2×
Use of funds
Inventory + working capital
38%
Marketing · paid + creator
30%
Retail rollout + slotting
20%
G&A · finance ops
12%
Exit scenarios · Year 5
Strategic sale · 4.5× revenue
$38M EV
3.2× MoIC
Snack roll-up · 12× EBITDA
$22M EV
2.0× MoIC
Hold + dividend recap
$34M EV
2.9× MoIC
The Ask investors@eatchicks.com  ·  eatchicks.com/dataroom 12 / 12