ButcherBox's Free Bacon Strategy Leaves Rivals in Shambles
ButcherBox, an online meat-seller, has achieved $550 million in sales by outsourcing food production and offering unique promotions like free bacon for life. Unlike its competitors, ButcherBox has remained profitable since its inception and avoided venture investment. While the growth of food-box companies has slowed down, ButcherBox continues to focus on targeting former subscribers and visitors to its website. The company is asset-light, sourcing meat from big producers and packing it into monthly subscription boxes. ButcherBox's founder and CEO, Mike Salguero, owns 72% of the company and has prioritized understanding the industry and maintaining control. The company is now considering acquisitions and exploring ways to compensate employees while maintaining control of the business.