MinusCal Snack Bar
NO DEAL
EPISODE SUMMARY
🕓 Air Date: September 29, 2019
Asking For:
$500,000 for 20%
Investor:
No Deal
Deal:
No Deal
PRODUCT SUMMARY
MinusCal offers a science-based snack bar and diet tablet that claims to block fat absorption, aiding in weight loss and better health.
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Background Story
Founders Barrett Jacques and Crom Carmichael, both from Nashville, Tennessee, present MinusCal as a solution to the obesity epidemic in America. Acknowledging the challenges of dieting, they propose a science-based approach using an all-natural ingredient called Choleve, derived from fermented tea. The founders emphasize that Choleve acts like a bouncer at a party, escorting fat out of the digestive system and preventing its absorption, theoretically aiding in weight loss.
The Product
MinusCal’s key ingredient, Choleve, is a proprietary, all-natural blend extracted from fermented tea, claims to block fat absorption. The founders claim that Choleve when incorporated into their snack bars and diet tablets, can help lower cholesterol by 17-20% and facilitate the removal of about 100 calories worth of fat from the body.
The product is positioned as a healthier alternative for individuals seeking weight loss without compromising on taste. The Choleve-infused products come in various forms, including snack bars, making it a convenient option for those on the go.
The founders emphasize that their product is safe for everyone, supported by a clinical trial conducted 12 years ago. However, the sharks express skepticism about the efficacy of the product and the bold claims made by the founders.
How It Went
The company’s position before Shark Tank
At the time of the pitch, MinusCal is a newly launched startup with no revenue. The founders admit to having little sales and are seeking $500,000 for 20% of their business. The sharks express concerns about the high valuation given the lack of sales and question the founders on their business strategy and distribution plans.
The company’s strategy appears to be focused on marketing the brand as a calorie-reducing option, but the sharks criticize this approach as potentially misleading. MinusCal’s business structure and partnerships are not explicitly discussed in the pitch, leaving gaps in understanding the company’s overall health and positioning in the market.
The Negotiations:
The negotiation takes a contentious turn as Mark Cuban, known for his skepticism towards supplements, challenges the founders on their product claims. The founders defend the safety and efficacy of Choleve, but the sharks express doubts about the lack of clarity in the business strategy, valuation, and bold marketing approach.
As the negotiation progresses, it becomes evident that the sharks, particularly Mark Cuban, are not convinced about the product’s viability and the founders’ ability to articulate a compelling business case. Despite attempts to clarify their claims, the founders face strong opposition from the sharks. The negotiation ends with none of the sharks making an offer, resulting in MinusCal leaving the tank without a deal.
