'Shark Tank': Proper Good bags $400K deal with Mark Cuban, fans say 'take my money'
The ready-to-eat soup manufacturing company's founder Chris and Jennifer Jane stepped into the tank with their eyes set on guest Shark Peter Jones
Ready-to-eat foods and healthy, nutritious meals aren't mutually exclusive with Proper Good. The ready-to-eat soup manufacturing company's founder Chris and Jennifer Jane stepped into the tank with their eyes set on guest Shark Peter Jones to close the deal. The sibling duo from Austin, Texas, were relying on their shared English roots and the nutritious soups to impress the guest Shark.
The duo entered 'Shark Tank' seeking $400,000 for a 10% stake in their company. Dressed in period costumes, Chris and Jennifer immediately grabbed the Sharks' attention with their witty pitch for their ready-to-eat soup pouches that can be eaten straight out of the pouch or heated in 90 seconds and eaten hot. Their USP of not needing refrigeration and free of chemical preservatives intrigued the Sharks. When they finally got to try the soup, all the Sharks unanimously agreed that the soups were exceptionally delicious. The sibling duo further sweetened things for the Sharks when they began spitting out the numbers.
They revealed that during the pandemic their sales skyrocketed and that they managed to make close to million dollars in sales. Each pouch of Proper Good soup sells for 7$. The Sharks were mighty impressed with the sales projection and began dissecting the numbers by asking several follow-up questions. This is when the founders also shared that they spent close to $80,000 for customer acquisition. All the Sharks but Mark Cuban immediately sat out of making the deal when they heard such a steep customer acquisition cost.
Mark felt that the company and the product had immense potential to become a multi-million dollar company, so he extended an offer to them. He made a bit of a 'sharky' offer when he asked for a 25% stake in exchange for $400,000 instead of the 10%. Since there were no other offers on the table as all the other Sharks backed out, Chris and Jennifer were left with no choice but to accept Mark's offer if they wanted a Shark to help them out. But they felt that the 25% stake was a bit too high, so Jennifer made a counteroffer by asking Mark if he was willing to go down to 20%, to which he readily agreed and the deal was closed.
Fans were pleased to watch Proper Good strike a deal with Mark. A fan tweeted, "#ProperGood #SharkTank Any deal with @mcuban is a goldmine There’s no need to think it over…you can always counter though ." Another fan wrote, "Proper Good, congrats congrats Mark, great offer #SharkTank." "Proper Good sounds good to me. #SharkTank @ABCSharkTank," commented a fan.
Proper Good, congrats congrats Mark, great offer #SharkTank— Lance Becvar (@Dadsonpowermode) October 16, 2021
Several fans are already excited to try out the new 'Shark Tank' product. A fan shared, "I’m on the Proper Good website right now, cuz I’m fr tired of cooking. Take my money omg #SharkTank." Another fan added, "We are going to have to try @eatpropergood! Fascinating concept! We just went camping and could see these being so convenient. #SharkTank." "#ProperGood sounds like a GREAT meal type plan! @ABCSharkTank #SharkTank," echoed a fan.
I’m on the Proper Good website right now, cuz I’m fr tired of cooking. Take my money omg 🤣😭#SharkTank— magic kingdom mambacita (@purelygenius) October 16, 2021
'Shark Tank' Season 13 airs every Friday at 8/7c on ABC.
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