Little Saints' founder Megan Klein makes astonishing offer to 'Shark Tank' judges, but they smell blood in the water
LOS ANGELES, CALIFORNIA: Megan Klein, the ambitious founder of Little Saints Mocktails, recently took center stage on the premiere of ABC's 'Shark Tank' Season 16, aiming to seal a lucrative deal with the investors. Her vibrant mocktail brand already boasts a loyal global customer base, showcasing its potential. However, her negotiating tactics left much to be desired, leaving the Sharks astonished.
Megan kicked off her pitch with an eye-popping request for $500,000 in exchange for just 5% equity in her company. The Sharks, taken aback by her boldness, quickly recognized an opportunity to negotiate. They countered with a royalty deal that demanded a 10% stake, effectively turning the tables on her initial proposal.
In the end, while Megan secured the investment, she sacrificed a larger share of her company's profits in exchange for the exposure and prestige that come with being featured on 'Shark Tank'. This intense negotiation highlighted the delicate dance of ambition and strategy, as Megan made the career-altering mistake of sacrificing potential profits.
Where is 'Shark Tank' Season 16 entrepreneur Megan Klein now?
'Shark Tank' Season 16 entrepreneur Megan Klein is riding the wave of success with her Little Saints Mocktails. She's personally marketing her brand at music festivals, creating a buzz while leveraging her social media to highlight her appearance on ABC. Recently, she enjoyed vibrant trips to Miami, Spain, and Portugal.
Megan has expanded her distribution network significantly, achieving a major milestone in July 2024 when Sprouts Farmers Market started carrying her mocktails in all 400 locations. Her journey began in the summer of 2021, selling her first batch of Little Saints cans from her charming mint green vending trailer, affectionately named 'Baby Mint,' in Detroit.
What is Little Saints Mocktails?
Little Saints Mocktails provides a refreshing, guilt-free alternative for those who want to enjoy festive drinks without the downside of a hangover. These innovative non-alcoholic beverages are designed for everyone who loves the social aspect of drinking but prefers to skip the alcohol. With zero sugar and infused with health-enhancing mushrooms, Little Saints allows you to revel in the fun without sacrificing your wellness.
Each ready-to-drink mocktail captures the rich flavors and mood-lifting sensations of traditional cocktails, ensuring that your experience is just as enjoyable. The unique infusion of mushrooms not only enhances the taste but also offers potential health benefits, making each sip a nourishing choice.
Are there any competitors of Little Saints Mocktails?
Little Saints Mocktails is navigating a competitive landscape in the booming non-alcoholic beverage market. Among its most formidable rivals is Ghia, a fully non-alcoholic brand that also appeared on ABC's 'Shark Tank', where it impressively garnered two offers from investors. Ghia stands out with its rich and flavorful spritzes, which capture the essence of traditional cocktails while remaining alcohol-free.
But what truly sets Ghia apart is its botanical aperitif, a versatile mixer that pairs beautifully with a wide range of flavors, making it an excellent choice for crafting refreshing beverages. This unique blend of botanicals not only enhances drinks but also caters to those seeking a sophisticated, health-conscious alternative to alcoholic options.
For those who missed the episode, it will be available on demand the following day and on Hulu. Additionally, viewers can explore past 'Shark Tank' seasons and episodes on Amazon Prime Video and iTunes.