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B.C.91Ƶs FATSO peanut butter takes off 1 month after Dragons91Ƶ Den deal

Owner talks about the immediate spike in her peanut butter business
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Jill Van Gyn, FATSO peanut butter owner, took her Victoria-based company to the Dragons91Ƶ Den in 2018. (FATSO peanut butter photo)

Jill Van Gyn was getting ready for FATSO peanut butter91Ƶs screening party of Dragons91Ƶ Den when she got the first email.

It was only 5:15 p.m. in Victoria, but the Sept. 27 episode featuring the all-natural peanut butter spread had already started playing on the East Coast of Canada 91Ƶ and suppliers were interested immediately.

91ƵI was really lucky. Just before the episode aired I had hired a staff member, a recent grad from the Royal Roads business school. The timing couldn91Ƶt have been better,91Ƶ Van Gyn, previously the only employee of her company, said.

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They got to work instantly, responding to emails and the spike in their online account, adding 20 new retailers across Canada.

91ƵThe biggest thing coming out of it has been the lift of the company profile. People are a lot more familiar with the brand, which really was the ultimate goal of going on television,91Ƶ Van Gyn said.

In the episode, Van Gyn persuaded four dragons to offer a deal with her. She was holding out for Arlene Dickinson, who is known for her experience as a woman in business and for helping new businesses build themselves up. The 30 per cent offer in shares of Van Gyn91Ƶs company was just too much.

Although she made a handshake deal on the show, Van Gyn later met to formalize the deal with new numbers. FATSO peanut butter has been evaluated at twice its original amount, and Van Gyn wanted the deal to reflect that. She ultimately walked away. Partnerships still formed, now with local investors offering more money and more support.

91ƵIt really worked out well for us,91Ƶ Van Gyn said.

Now a month later, Van Gyn hasn91Ƶt slowed down. As of Oct. 25, FATSO peanut butter will be funded for the next year. In December, FATSO will begin working with a national distributor. In 2022, Van Gyn has plans to spread her business south of the border.

91ƵWe91Ƶre certainly growing faster than we ever expected, and whenever we think things are going to slow down something else blows up,91Ƶ she said.

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@KeiliBartlett
keili.bartlett@blackpress.ca

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