'Shark Tank': Zach & Zoe Sweet Bee Farm closes $200K deal with Barbara Corcoran
Sometimes the Sharks on 'Shark Tank' are so moved by an entrepreneur's goal and vision that they immediately make an offer even if there's nothing new or innovative about the product or service being pitched. 'Shark Tank' fans got to witness this on the recently aired episode 7 of 'Shark Tank' season 13. The Johnson family from Kingwood, New Jersey, came on the hit ABC show seeking $150,000 for a 10% stake in their 100% pure, raw homey business called Zach & Zoe Sweet Bee Farm.
The Johnson family aka- Kam and Summer Johnson and their two children Zach and Zoe are the founders of the family-owned brand. The family was inspired to get into beekeping and eventually selling the raw honey due to Zach, the youngest Johnson family child. When Zach was younger, he suffered from severe seasonal allergies, so the family began looking for various treatment options for him. They stumbled upon raw honey as one of the natural treatment options for Zach's allergies. Through a concept called immunotherapy raw honey helped Zach overcome his allergies. What started as a hobby and a safe treatment option for their son quickly turned into a profitable business venture for the Johnson family. Despite raking in pretty good profit margins, the Johnson family has always been clear from the get-go that the bees would be treated well and the honey would be sourced ethically.
When Barbara Corcoran heard their pitch she immediately pointed out that it wasn't a business but a mission for the Johnson family considering the importance they were placed on the bees and the environment. but before she could make an offer, Kevin O'Leary jumped in and made a pretty sharky offer. Kevin said he would give the $150k for a $1 royalty per jar sold until $150k is paid off then royalty drops to 25 cents for perpetuity. Kevin highlighted how he wasn't seeking any equity since it was a family-owned business. Barbara countered his offer with her own offer- She upped the amount to $200k for a 20% stake in the company.
After a family huddle meeting, the Johnson family seemed inclined towards closing the deal with Barbara but before that, they checked with her if she was open to closing the deal for a 12% stake instead. Barbara said she would be okay with 15% equity, to which the johnson family happily agreed and closed the deal. Fans were pleased to see the Johnson family closing the deal with Barbara and were also excited to try out the brand's raw honey. A fan tweeted, "Excellent work guys! So proud of you! Respect for the bees AND making a healthy profit while doing it. I hope this inspires other entrepreneur families like yours! #zackandzoe #sweetbeefarm #SharkTank." Another fan wrote, "Congratulations to @BarbaraCorcoran and @Zachandzoehoney! I can’t wait to see how y’all buzz up interest and sales! #SharkTank." "Wonderful to hear the health benefits of honey on allergy sufferers. Great product Zach and Zoe Sweet Bee Farm! #SharkTank," commented a fan.
Excellent work guys! So proud of you! Respect for the bees AND making a healthy profit while doing it. I hope this inspires other entrepreneur families like yours! #zackandzoe #sweetbeefarm #SharkTank— Black Loyalty (@myblackloyalty) November 20, 2021
Wonderful to hear the health benefits of honey on allergy sufferers. Great product Zach and Zoe Sweet Bee Farm! #SharkTank— Claire Collins (@clairec345) November 20, 2021
Another fan shared, "I like the @Zachandzoehoney concept and the superfood option. #Sharktank I'd buy it no I will buy it." "Something good and sweet; Zach and Zoe Sweet Bee Farm. A black family owned business! I’m watching them on shark tank right now and definitely will be looking into them and their sweet honey soon," echoed a fan.
Something good and sweet; Zach and Zoe Sweet Bee Farm. A black family owned business! I’m watching them on shark tank right now and definitely will be looking into them and their sweet honey soon 🤤🤤🤤🍯— grace🌻 (@GraceLowercase) November 20, 2021
'Shark Tank' Season 13 airs every Friday at 8/7c on ABC. Missed an episode? Been wanting to catch up? Episodes can also be viewed the next day on demand and on Hulu. Not just that, you can also watch old seasons and episodes on Amazon Prime Video and iTunes.