Boobie Bar – Lactation Bars for Nursing Moms
DEAL
EPISODE SUMMARY
đź•“ Air Date: January 14, 2018
Asking For:
$150,000 for 10%
Investor:
Daymond John
Deal:
$150,000 for 20%
PRODUCT SUMMARY
Boobie Bar is a revolutionary lactation bar specifically crafted for breastfeeding moms, offering a convenient and delicious solution to support a healthy milk supply during a crucial time in a mother's journey.
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Background Story
Wendy Colson, the passionate founder behind Boobie Bar, brings a wealth of experience to the table as a registered nurse and internationally board-certified lactation consultant. Her inspiration stemmed from witnessing the challenges faced by new moms in maintaining a healthy milk supply while navigating the stress of breastfeeding.
Understanding the limitations of traditional lactation herbs that often require swallowing multiple pills or brewing cups of tea, Colson envisioned a more convenient alternative. Combining her expertise and a commitment to simplifying the lactation support process, she developed Boobie Bar, a proprietary blend of organic lactation herbs presented in the form of a delicious and easy-to-consume bar.
The Product
Boobie Bar stands out with its three enticing flavors—oatmeal chocolate chip, gluten-free peanut butter, and blueberry coconut. The bars not only cater to the nutritional needs of breastfeeding moms but also provide a flavorful and on-the-go option, eliminating the hassle associated with traditional lactation supplements.
Colson claims to have conducted an independent study before product release, wherein a group of moms consumed one bar daily. The study reportedly demonstrated an increase in milk supply ranging from 1.5 to 4.6 ounces per day, a promising result for moms seeking convenient and effective lactation support.
Boobie Bar is available for purchase on the company’s website, and strategic partnerships with major retailers such as Buy Buy Baby, Babies”R”Us, and Walmart have significantly expanded its accessibility. With 500 stores currently offering the product and a recent deal with Walmart, Boobie Bar is poised for wider market penetration.
How It Went
The company’s position before Shark Tank
Boobie Bar has achieved commendable sales figures, with total sales reaching $778,000 over a two-year period. The company has successfully secured placement in 500 stores, and recent collaborations with major retailers indicate a growing market presence. Colson highlights an impressive 52% repeat customer rate on the company’s website, with a noteworthy spike to 86% in the previous month. These figures underscore positive customer satisfaction and suggest a strong potential for customer retention.
The Negotiations:
The Sharks expressed initial skepticism about the lack of clinical trials supporting the product’s efficacy. Lori Greiner and Sara Blakely, in particular, raised concerns about the absence of concrete results, leading them to opt-out. Kevin O’Leary and Mark Cuban expressed reservations about the supplement industry in general and chose not to invest. However, Daymond John, drawing on his personal connection as a parent, believed in the power of sales and made a compelling offer of $150,000 for a 20% stake in Boobie Bar.
Colson accepted John’s offer, recognizing his genuine interest and potential contribution to the growth of Boobie Bar. In summary, Boobie Bar’s journey on Shark Tank not only showcased the innovative nature of the product but also highlighted the founder’s dedication to simplifying and enhancing the breastfeeding experience for mothers across the country. The partnership with Daymond John provides a strategic alliance that can propel Boobie Bar to greater heights in the market.
