Nature’s Wild Berry
DEAL
EPISODE SUMMARY
🕓 Air Date: May 5, 2023
Asking For:
$80,000 for 15%
Investor:
Mark Cuban, Lori Greiner (50/50)
Deal:
$80,000 for 20% + $3 royalty
PRODUCT SUMMARY
Nature’s Wild Berry is a supplement that uses a natural berry to make sour and tart foods taste sweet, offering a unique flavor-transforming experience.
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Background Story
Juliano and Hank, the founders of Nature’s Wild Berry, developed the product out of personal necessity. Juliano was struggling with emotional eating and weight issues, but the magic berry allowed him to enjoy healthier foods that tasted sweet, which ultimately led to a significant improvement in his health. They saw the potential to help others and turned this unique experience into a business idea.
The Product
Nature’s Wild Berry is a supplement derived from a specific berry that contains a glycoprotein. When chewed, this berry temporarily alters taste receptors in the mouth, making sour and tart foods taste sweet.
The product can be purchased through the company’s website and costs $26.99 for a travel-sized jar. It provides a unique way to enhance the flavor of various foods and beverages, allowing people to enjoy healthier options while satisfying their sweet cravings.
How It Went
The company’s position before Shark Tank
Nature’s Wild Berry was projected to make approximately $340,000 in sales, primarily through online retail. Their challenge was in educating consumers about the product, as it sounded unconventional. The cost to produce the product was approximately $2.64 per unit, indicating a healthy profit margin. The founders had invested their own money, with Juliano contributing around $20,000 and Hank investing $120,000. They were currently the largest online retailer.
The Negotiations:
The Sharks were intrigued by the product’s potential but concerned about the educational aspect and its long-term success. Lori Greiner and Mark Cuban both made offers of $80,000 for 20%, with a $3 per unit fee until they recouped their investment. Kevin O’Leary offered $80,000 for 30% with no royalty, but he was not a chef.
Eventually, Greiner and Cuban formed a partnership, offering $80,000 for 20% each with a $3 per unit fee. The founders accepted their offer, and the deal was made. Lori and Mark’s investment would help take Nature’s Wild Berry to the next level by leveraging their experience and resources.
