Maxx Chewning, a visionary entrepreneur with a thirst for innovation, decided to embark on a new journey: creating a candy brand that would take the market by storm. With a clear objective in mind, he relocated to Texas to brainstorm and develop his idea, eventually finding a great supplier and starting the creative process.
After some time, Maxx came up with a name that would become the foundation of his brand: Sour Strips. To his surprise, the name was not in use by any other company, and even the domain was available for purchase for a mere $200. With this stroke of luck, the logo and brand were born, and the manufacturing process commenced.
On his 30th birthday, Maxx launched Sour Strips, sending sample packs to influencers and friends to generate buzz. The response was overwhelming, with 20,000 units selling out within the hour. Since then, Sour Strips has been distributed through both online sales and partnerships with physical retail stores, with over 10 million bags sold thus far. This translates to approximately 100,000 units per week dispatched to retailers alone.
The revenue generated by Sour Strips has been estimated to be around $30 million, assuming an average price point of $3 per bag. However, considering that Maxx sells the bags to retailers for less than $3 each, a more realistic revenue estimate would be around $20 million, combining online direct sales and retailer bulk purchases. Despite the high overheads and fees associated with running a candy business, the volume of orders has allowed for significant profit, with estimates suggesting that Maxx Chewning’s Sour Strips net worth is around $25 million.
Should Maxx decide to sell Sour Strips, experts predict that the company’s profit would be multiplied by four, resulting in a valuation of $40 million. However, given Maxx’s passion for his candy empire, it seems unlikely that he will part ways with his brainchild anytime soon. As Sour Strips continues to grow, so too does the potential for its net worth to skyrocket in the future, with predictions suggesting that it could double within the next year thanks to continued expansion into major stores and a social media push behind the brand. Maxx Chewning has truly built a candy empire, and the future looks sweet.