#105: Leading the Plant-Based Food Revolution

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Jim is passionate about being in the plant-based sector because simultaneously it helps individuals eat healthier foods, decreases the butchering of animals, helps the planet by re-structuring farming resources for sustainable purposes, and helps to preserve the depleting water sources. In Jim’s spare time he co-founded an animal rescue non-profit where he has helped save over 1,000 animals from being euthanized and found them loving homes.

In this episode, we’re discussing…

[1:22] His background and how he has taken ventures from zero to 16 million in two years
[2:08] What do the company is trying to accomplish
[3:40] About what a plant-based protein is
[5:36] Are these products in stores, refrigerated how does Boosh products work
[8:01] The Boosh growth aspirations
[10:10] Why are plant-based products better for you than meat?
[10:23] As far as health reasons, why plant base is better than meat?
[15:28] How does this company get capitalization
[18:12] How do our listeners take advantage of this shift?

Jim Top Tip’s

“We're looking at a disruptive transformation from the animal-based protein to plant-based protein matter of fact, Bloomberg came back out came out and said by 2050 the valuation of the plant-based industry is going to be one $4.4 trillion with a team so that's going to come from somewhere and most likely that's going to come from the animal protein world people on what is a flexitarian because we don't market to vegans or vegetarians necessarily we market to guys like you and I or folks like you and I that enjoy a chicken meal or steak”

“We're seeing a lot of Gen X Millennials Gen Y is caring about three things. One, what goes into their body number two, is the very limited resources we have on planet Earth. And number three, the animal kingdom. So, you know, if you look back over the last 15 to 20 years, I remember, in 2000, and an early 2000s, I was eating VOCO burgers, which are plant-based burgers, but they don't, you know, have a little challenging taste to them”

“We introduced our shelf-stable mac and cheese, a nacho flavored and better cheddar, which was a huge hit. It tastes fantastic. When you take a step back, you look at the grocery store, there are four different main sections, frozen, refrigerated, shelf-stable. We were managing to get our way into the three other areas. We've also done three acquisitions of plant-based cheese products and plant-based patties, which are phenomenal. We started the year with six skews, now we're up to 24 skews and moving fast continuing growing in that direction”

“We've done three acquisitions since the beginning of this year. Each of the products differentiates itself in the marketplace, very unique plant-based cheeses and patties, they complement the main item on the plate not necessarily are the main item on the plate. And that's the direction we're taking the company number three expansion in the United States”
“We also have a revenue stream that we created through E-commerce via SHOP veggie. In Canada, we're getting orders now on a regular basis through SHOP veggie and we're opening up in E-commerce in the United States. And Food Service is huge. You got the schools, the cafeterias, the restaurants, the pubs, and a lot of restaurants and pubs that are not catered are geared toward creating plant-based meals. So, specifically, pubs, the pub in the back is not geared for you know non-GMO gluten-free foods”
“Eating a steak when I was 20, versus eating a steak, now it's a little bit different, a little bit more challenging, a little bit more digestive energy-wise, the amount of energy I feel from eating a plant-based meal, and then going out and exercising or doing whatever I'm doing, as opposed to animal-based meat it's easier for me to digest. The various chemicals that are going into the feed-in which goes into the animal. Unless it's completely organic, then you have these chemicals that you're digesting in your system via the animal that you're just eating”

“We don't like to dilute the company's stock, because that hurts the shareholders and investors. Conversely, we're at the other end, our IPO had a very conservative 16 million shares outstanding of which, at that point, 28% was owned by the founders and insiders, which is also a wonderful variable when your listeners are deciding on who to invest in. We don't like to bring in hedge funds, banks, family funds, etc. It's much easier when you're doing a capital raise you sit to have dinner, they agree to write you a check for 2 million in New York away, we have retail investors it means individuals doctors, lawyers, janitors, whatever they may behave a brokerage account with a securities firm, these are retail investors”

“Our philosophy is that we think a stock trades once they have about 1000 shareholders and a lot of companies will go public with just a minimum of 150 shareholders on the CSE Canadian Securities Exchange, we actually went public with over 1100 shareholders, we had verbal orders about 10 million for our IPO. But we realized we didn't want to take that because it would have been too diluted, we only took 2.8 million 2.87 5 million at the IPO”

“As we grow the company, theoretically, the stock price will increase. And therefore, we can do raises at higher levels, which benefits the shareholders. And as a footnote, I don't take a salary, I've been working for the company a year and a half, I don't take a salary, my compensation is believing it or not 50 cent warrants. I have to write a check to the company for 1,000,005 when I exercise my warrants, so if you want somebody that's in the bunker there, with the shareholders’ alliance with the investors, then you're looking at them”

Resources from Jim

Boosh Food | YouTube | YouTube2

+ Read the transcript

Mike Stohler
What if you could be doing something smarter with your money that creates income. Now, if you're wanting to get ahead financially, and enjoy greater freedom of choice, if you want a comfortable retirement, and you know you'll have more choices, if you can do more with your money. Now, if you've wondered who else is creating ways to make their money work for them, and you want actionable ideas, with honest pros and cons, and no fluff. Welcome to the richer geek podcast. We're here helping people find creative ways to build wealth and financial freedom. I'm Mike Stohler, and in this podcast, you'll hear from others who are already doing these things, and learn how you can too. Alright, everybody, welcome back to another episode. Richer geek. We have Jim Pakulis today. He is the CEO, Chairman of Bush plant based products. It is a healthy 100% plant based non GMO gluten free. For those of you need that. It's an alternative to comfort food. How're you doing, Jim?

Jim Pakulis
Good, good. Thank you for having me.

Mike Stohler
Yeah, it's a pleasure. You know, I'm looking back, you know, you've you've taken ventures from zero to 16 million in two years. You know, now we're talking into this getting this forefront a lot of people are talking about the meat alternatives. And you know, it is Boosh has been on the forefront of this. Trying to get people to learn to know understand, you know, it's hard for some of us, you know, that that enjoy the meat. But, you know, talk to us a little bit about what you guys are and what you guys are trying to accomplish.

Jim Pakulis
Yeah, absolutely. First let me just mention that boosh trades on the CSE, under the ticker veggie v gi as well as the OTC QB under V GG if we actually also trade on the Frankfurt and that ticker is seven seven small i So just want to get that thrown in there. Boosh was founded by Connie Marples. Connie is a celiac so she has challenges with the qualities of foods that she has. But she has had a tremendously successful career in the food industry. In fact, back in 20, early 2020 or so in the early 2000s, she created one of the first wine bars in Vancouver that ended up getting on V A very coveted list of content asks best new restaurant of the Year award. So she has been around quality food for a long time. Fast forward to 17, early 218. Her friends were asking her for recipes that would be health oriented plant based she decided to take it one step further. She decided to create six different frozen plant based non GMO gluten free heat and he he comfort food meals. She she jumped in the bookmobile and literally drove around Vancouver selling to the various natural food stores did very, very well for herself. And then and then fast forward. We've We've grown significantly we can talk about that. But we she's she has created a very solid foundation for the for scalability and growth for Boosh.

Mike Stohler
Can you tell us a little bit about what a plant based protein is? Or are they is certain plants that they use, you know what is plant based protein?

Jim Pakulis
Sure, you can get protein for many different plants. We use a lot of pea protein as an example legumes, we use a beans as well. Chickpeas is very big in the plant based protein. So there's a variety different ways in which you can you can get your protein. at the macro level, we're looking at a disruptive transformation from the animal based protein to plant based protein matter of fact, Bloomberg Bloomberg came back out came out and said by 2050 the valuation of plant based industry is going to be one $4.4 trillion with a team so that's going to come from somewhere and most likely that's going to come from the animal animal protein world people on what is a flexitarian because we we don't market to vegans or vegetarians necessarily we market to guys like you and I or folks like you and I that enjoy a chicken meal or steak. But we also want to complement that with with healthier foods in our diet. And and we're seeing that, you know we have to who's pushing this needle Why is this happening right now? We're seeing a lot of Gen X Millennials Gen Y is caring about three things. One, what goes into their body number two, the very limited resources we have on planet Earth. And number three, the animal kingdom. So, you know, if you look back over the last 15 to 20 years, I remember, in 2000, and an early 2000s, I was eating VOCO burgers, which are plant based burgers, but they don't, you know, have a little challenging taste to them. And so there was there was a slow, very slow, not even geometric growth into the last three or four years, there has been this explosive growth in the plant based arena. And we want to be one of those disruptive forces as we continue to grow Bhuj

Mike Stohler
Yeah, and, you know, my, I guess introduction into it was my body. You know, I work out a lot. And I was doing whey proteins, a lot, a lot whole milk, whey proteins, and finally woke up one day and my body said, you will have no more way. And so I was like, Okay, what do I do? And that's when I kind of gotten involved in well, you know, there's just plant based proteins that I can drink and do the shakes and things like that. So that was my introduction, then, you know, you start kind of slowly, it's like, you know, do I really need this and then as you for me, as you get a little bit older, you start thinking about, is this healthier? Can I get this taste and kind of, but like you're saying, you know, in the early parts, the taste was like, I'm just I'm not going to do it. Right. Right. So how has, you know, we should talk about with your products? I assume they're in stores, you know, they're, it's, it's refrigerated? It's the frozen? How do people How are you working? Boosh products?

Jim Pakulis
Sure. At the end of 2020, we were in about 150 stores throughout Canada. Fast forward. 11 months later, we're in pushing 500 stores throughout Canada. And what do we have that are in the stores. We started the beginning of the year with six frozen meals. We then expanded with three refrigerated items. And those three items are mushroom plant based mushroom gravy, plant based chili, and plant based sloppy joe. All of them are phenomenal. We just we were the lead sponsor at planted Expo. two weekends ago, about 8000 people attended. Beautiful, fantastic. And we introduced our shelf stable mac and cheese, a nacho flavored and better cheddar, which was a huge hit. absolutely huge. It tastes fantastic. So when you take a step back, Michael, you look at the grocery store, there's four different main sections, frozen, refrigerated, shelf stable, and then produce obviously, we're not going to be in the produce. But we were managing to get our way into the three other areas. We've also done three acquisitions of plant based cheese products and plant based patties, which are phenomenal. So we started the year with six skews, we now we're up to 24 skews and moving fast continuing growing in that direction.

Mike Stohler
Are you right now concentrated in for as the growth in Canada in the what's what's the aspirations for Bush?

Jim Pakulis
Yeah, worldwide dominance. We we have we've created five revenue streams. So revenue stream number one organic growth, we just talked about that very aggressive pattern. In fact, we've just put together a five person sales team, in order to go ahead and keep on pushing. There's roughly 15,000 grocery stores in Canada, roughly 42,000 in the United States. So obviously the winds that are back and we have a lot a lot of room to grow. Number two, mergers and acquisitions. We've done three acquisitions since the beginning of this year. Each of the products differentiate they differentiate themselves in the marketplace, very unique plant-based cheeses and patties, they complement the main item on the plate not necessarily are the main item on the plate. And that's the direction we're taking the company number three expansion in the United States. We hired one of the best food brokers called Thrive about two months ago, two three months ago, and we just shipped down a few weeks ago our 16,000 units as as our sample units to various it's through thrive to various grocery stores. And we're starting getting communications from those grocery stores now. Next would be e commerce. We also have a revenue stream that we created through E commerce via SHOP veggie. In Canada, we're getting orders now on a regular basis through SHOP veggie and we're opening up in E commerce in the United States. And then lastly, food service. Food Service is huge. You got the schools, the cafeterias, the restaurants, the pubs and a lot of restaurants and pubs are not catered are geared toward creating plant based meals. So specifically pubs, you go in and you want to have a cocktail in the late afternoon and little snack. The pub in the back is not geared for you know non GMO gluten free foods. So through acquiring them through us they're able to go ahead and serve their clients talent, it's a win win for both sides. So those are the five revenue streams that we're working on now. Most of them were just getting started. So I believe we're going to see significant growth in 2022.

Mike Stohler
Very good, very good. Now, let's take a little step back. Why are plant based products better for you than meat?

Jim Pakulis
from a health standpoint,

Mike Stohler
from a health standpoint, we all know, you know, the easy part of it is butchering of animals. And, you know, the humanitarian part, as far as you know, we've all seen some of the videos and things like that of, you know, the farms and everything like that. But when you take in for someone that doesn't know, like me, because I'm a meat person, I love my steak, I love my you know, whatever. What could you say, as far as health reasons why plant base is better than meat.

Jim Pakulis
And some of the plant based foods, there's a nine amino acids, and they fulfill all of nine amino acids that we need in our body, similar to plant number two digestion. Um, and I'm speaking for me, from a digestive standpoint, it takes me a long time I'm in my, you know, pushing a couple years away from 60. So eating a steak when I was 20, versus eating a steak, now it's a little bit different, a little bit more challenging, a little bit more digestive energy wise, the amount of energy I feel from eating a plant based meal, and then going out and exercising or doing whatever I'm doing, as opposed to an animal based meat is is is it's easier for me to digest. And then you have to also worry about the the, the various chemicals that are going into the feed in which goes into the animal. So unless it's completely organic than you, then you have these chemicals that you're digesting in your system via the animal that you're just eating. So, a couple of reasons. Off the top of my head.

Mike Stohler
Yeah, well, that's very good. And do you advocate? Both are you? Do you advocate 100% switching, you know, what's, what's kind of the balance that? You know, should we all just dive in what's kind of the, the play here, you know, maybe once a month, once a week, you know, then plant based what's kind of the rule of thumb that we should be looking at as humans.

Jim Pakulis
Try it, you'll like it. I can only speak for myself, we again, we catered the flexitarians in which you know, we're not we're not forcefully advocating for anyone not to eat animal. It's everyone's their own particular desires and needs and wants. And however they want to live their life. God bless them. We're simply suggesting, suggesting that historically, and the data supports that having more plants, you know, we learned this from our moms when we were growing up, right having plants having your greens, it is healthy to have those. And so what we've been able to do is create an atmosphere in which you and your busy wife or partner or family whatever can come home at six in the evening. And you don't have to spend an hour chopping up the garlic and the various vegetables etc. For that, you can just have a Heat and Eat you know, gluten free, gluten free, non GMO, family oriented heat any meals that are really tasty. But you know, you're a decent size guy, I'm a decent size guy, you and I could have a shepherd's pie, you know, made from to and we'd be full we wouldn't need any more. They're that good. You know, with the potatoes and all the vegetables and the gravy. And it's just fantastic. It tastes like and we also use Beyond Meat crumble. So when you're having a shepherd's pie or a vegan bolognese, your tastes like you're having me It's so dang good. So, to answer your question, in short, no, you don't get it. But what I suggest you do is take your steak and put some of our gravy on top of it. Yeah, there you go. There you go.

Mike Stohler
There you go. You know, and I think that's the thing I am not adverse to plant based at all and it all does come down to taste. There are some things if I had the veggie option, I tried it and I'm like going, you know, this is a very good product. Why not? Yeah, yeah. You know, because it is better for me. And I think that's what it will come down to is once Boosh hits the United States. And his his, uh, you know, the different stores? I think I would absolutely try it because I'm not opposed to it at all. And I think that I think that's most of the people is like once if if I were to have some veggie burgers on the grill, didn't tell anyone and they couldn't tell the difference. You know, I think it's it's a win win.

Jim Pakulis
And Michael Michael the compliment that a year and a half ago, two years ago You know, we were me and my team are agnostic in regards to the industry we go into, we specialize in going in finding a small, privately controlled company that we believe we can scale through via the IPO process. And then I have expertise in the in the public public arena. But it isn't like I've been, you know, a vegetarian or vegan knows the, you know, I saw I'm learning this as well. And you're exactly right. Once you once you give it a try, you know, it's like, wow, this is really good. Really good.

Mike Stohler
Yeah, absolutely. Now, let's talk about the capitalization. And it's very interesting. So you know, it, I'm kind of over over the top of him, but describe that for us.

Jim Pakulis
Yeah, absolutely. So capitalization table for your listeners or watchers. This is, every publicly traded company, every company actually has their own cap table, just once you've publicly traded, it becomes more of an important I shouldn't say important, more visible. And so most small, Junior cap publicly traded companies will issue at their IPO or there are to the reverse takeover, somewhere between 40 to 80 to 120 million shares outstanding, which in our view, is very diluted, we don't like to dilute the company's stock, because that hurts the shareholders and investors. Conversely, we're at the other end, our IPO had a very conservative 16 million shares outstanding of which, at that point, 28% was owned by the founders and insiders, which is also a wonderful variable when your listeners are deciding on who to invest in. Next, we don't like to bring in hedge funds, banks, family funds, etc. It's much easier when you're doing a capital raise you sit have dinner, they agree to write you a check for 2 million in new york away, we'd much rather have retail investors what is retail investor means It means individuals doctors, lawyers, janitors, whatever they may be have a brokerage account with a securities firm, these are retail investors. So, our philosophy is that we think a stock trades once they have about 1000 shareholders and a lot of companies will go public with just a minimum 150 shareholders on the CSE Canadian Securities Exchange, we actually went public with over 1100 shareholders, we we had verbal orders about 10 million for our IPO. But we realized we didn't want to take that because it would have been too diluted, we only took 2.8 million 2.87 5 million at the IPO. And as we grow the company, theoretically, the stock price will increase. And therefore, we can do raises at higher levels, which out without hurting the shareholders, it benefits the shareholders. And as a footnote, I don't take a salary, I've been working for the company a year and a half, I don't take a salary, my compensation is believe it or not 50 cent warrants. So I have to write a check to the company for 1,000,005 when I exercise my warrants, so if you want somebody that's in the in the bunker there, with the shareholders alliance with the investors, then you're looking at them.

Mike Stohler
I can't tell you how many times I wish a lot of CEOs did that, you know, we're that way, I think we'd have a very different world, you know, if yes, you know, congratulations on doing that. I love the fact that. That CEOs, leaders, my general managers, you know, if they're invested, you know, there's, there's a reason for them to do well, instead of, you know, hey, if I if I if I stink, so what you know, I'll get eight figures on the back end and you know, and then they're off to the to another one. So that's kudos for doing that. Thank you. How can our listeners take advantage of this shift?

Jim Pakulis
Yeah, absolutely. Please, first and foremost, always do your research, obviously, before you do any investing, but if you're interested, you can go to your broker, again CSC on the Canadian Securities Exchange, it is a vgei on the OTC which the US exchange, the ticker is VGGIF called broker and and feel free to acquire some shares. And if you'd like to go ahead and buy some foods again, we're just getting into the United States but Canada Canadian listeners can go to our website, their store locator as well as go to shop veggie.com in order to go ahead and order online.

Mike Stohler
So yeah, it's fantastic young, ladies and gentlemen. This is the shift, you know, whether you like it or not, plant based foods are coming, and they're not going anywhere soon. Thank you so much, Jim. I appreciate you being on the show. Thank you, Michael. And good luck with the boosh products

Jim Pakulis
right on. Have a great new year.

Mike Stohler
Thanks for tuning in to the richer geek podcast, where we're helping others find creative ways to build wealth and financial freedom for today's show notes, including all the links and resources from our show, and more information about our guests, visit us at www.therichergeek.com/podcast. And don't forget to jump over to Apple podcasts, Google Play Stitcher, or wherever you get your podcasts and hit the subscribe button. Share with others who could benefit from listening and leave a rating and review to get the podcast in front of more eyes. I appreciate you and thanks for listening

The information, statements, comments, views, and opinions (collectively, “Information”) provided in this podcast are not intended to be and should not be construed as financial, economic, legal, accounting, tax or other advice. For our full disclosure, click here.

ABOUT JIM PAKULIS

Jim Pakulis is the CEO and Chairman of Boosh Plant-Based Brands Inc. Boosh provides a healthy, 100% plant-based, non-GMO, gluten-free alternative to comfort foods. Jim has over three decades of experience working with public and private entrepreneurial companies in a variety of emerging sectors and has developed a unique eye for identifying small emerging publicly traded companies and quickly scaling them. He has taken ventures from zero to $16 million in two years and now he is leading the forefront of the trillion-dollar shift from animal-based protein to plant-based protein. He is passionate about being in the plant-based sector because simultaneously it helps individuals eat healthier foods, decreases the butchering of animals, helps the planet by re-structuring farming resources for sustainable purposes, and helps to preserve the depleting water sources. In Jim’s spare time he co-founded an animal rescue non-profit where he has helped save over 1,000 animals from being euthanized and found them loving homes.

Passive InvestmentsNichole StohlerFebruary 9, 2022podcast, season 1