Bumbling Bee Vegan Junk Food and Burger Bar
NO DEAL
EPISODE SUMMARY
🕓 Air Date: April 23, 2023
Asking For:
$150,000 for 10%
Investor:
No Deal
Deal:
No Deal
PRODUCT SUMMARY
Bumbling Bee Vegan Junk Food and Burger Bar offers indulgent vegan fast food, including burgers, hot dogs, fried chicken sandwiches, milkshakes, and more.
WATCH HERE
IN A RUSH?
Click these to jump to the section you want to read.
Background Story
Cassandra Ayala, the founder of Bumbling Bee Vegan Junk Food and Burger Bar, began her journey as a real estate investment broker. However, when the market crashed, she found herself with only $10,000 to her name. Determined to build a future for her family, she started with a food cart selling hot dogs. She reinvested her earnings, eventually expanding to four food trucks. However, Cassandra realized that the business wouldn’t truly succeed unless her daughters were passionate about it too.
Cassandra’s daughters, India and Lexi, who was a healthy vegan, saw an opportunity in the market for vegan junk food. They decided to transition the business into a vegan one at the beginning of 2019, creating Bumbling Bee Vegan Junk Food and Burger Bar. With India managing the Virginia Beach location and Olivia overseeing the Boulder, Colorado branch, they aimed to provide delicious vegan alternatives to traditional fast food.
The Product
Bumbling Bee offers a variety of mouthwatering vegan fast-food options, including a double-dip fried chicken sandwich (the Clucker), award-winning Coney Island chili cheese dogs with hand-cut Cajun fries, burgers with creamy cheddar cheese sauce, and sweet nectar milkshakes. All of their offerings are 100% vegan and cater to a wide range of dietary preferences.
How It Went
The company’s position before Shark Tank
In the previous year, Bumbling Bee generated $194,000 in sales with one food truck operating part-time and one brick-and-mortar location that opened in October. Despite challenges, such as a temporary closure due to the pandemic, they managed to continue serving their customers and even expanded to Boulder, Colorado. Their margin stood at 15%, slightly below the ideal 17-20% needed for franchise operations. Cassandra aimed to have both brick-and-mortar stores and food trucks in their business model.
The Negotiations:
Despite Cassandra’s inspiring story and the uniqueness of their vegan fast-food concept, none of the Sharks were willing to invest. The main concerns were the business’s profitability and scalability. They all acknowledged Cassandra’s determination and the potential of the concept but felt that the company needed to reach a critical point of scale to make it a worthwhile investment. In the end, no deal was made, and Cassandra left the Tank without securing an investment.
