Bon Affair Wine Spritzer
DEAL
EPISODE SUMMARY
🕓 Air Date: May 9, 2014
Asking For:
$150,000 for 35%
Investor:
Mark Cuban
Deal:
$150,000 for 35%
PRODUCT SUMMARY
Bon Affair offers the first premium wine spritzer with California wine, purified sparkling water, and electrolytes, containing zero added sugar and 6.5% alcohol, providing a lighter alternative to traditional wine.
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Background Story
Based in Solana Beach, California, Bon Affair was founded by Jayla Siciliano, a driven entrepreneur with a background in product development and design. Jayla’s career journey was influenced by her experiences in the corporate world, which often involved lavish business trips filled with indulgent wining and dining. However, as someone who valued health and fitness, Jayla found herself seeking a solution that wouldn’t compromise her well-being.
Inspired by her desire for a healthier alternative to traditional wine, Jayla began experimenting with mixing wine with soda water during social gatherings. Not only did this concoction allow her to enjoy the festivities without the fear of waking up groggy the next morning, but it also sparked a realization – there was a gap in the market for a lighter, guilt-free wine option. With Solana Beach’s vibrant wine culture and emphasis on health and wellness serving as the backdrop, Jayla recognized the potential for her idea to resonate with consumers.
Fueled by her entrepreneurial spirit and determination, she took a leap of faith, quitting her job and investing her savings into bringing her vision to life. Through perseverance and resilience, Jayla overcame challenges such as financial strain and production setbacks, ultimately securing investments totaling $700,000. Her journey with Bon Affair reflects not only her passion for creating innovative products but also her unwavering commitment to providing consumers with healthier lifestyle choices.
The Product
Bon Affair offers a revolutionary twist to the traditional wine experience with its premium wine spritzers. Combining California wine, purified sparkling water, and electrolytes, Bon Affair provides a refreshing and guilt-free alternative to regular wine consumption. Each bottle contains zero added sugar and boasts a moderate 6.5% alcohol content, making it ideal for health-conscious consumers who want to indulge without the worry of excessive calories or next-day grogginess.
The product’s innovative blend not only delivers a light and refreshing taste but also aims to counteract the negative effects of alcohol consumption, potentially reducing the severity of hangovers. Bon Affair is positioned as a lighter alternative to traditional wine, perfect for social gatherings, casual dinners, or simply enjoying a relaxing evening at home.
Available for purchase in select stores such as Whole Foods and Albertsons in California, Bon Affair offers convenience and accessibility to consumers seeking a healthier wine option. While the exact price may vary depending on location and retailer, Bon Affair’s premium quality and innovative concept make it an attractive choice for those looking to elevate their drinking experience without compromising on health or taste.
How It Went
The company’s position before Shark Tank
Bon Affair, founded by Jayla Siciliano, has demonstrated resilience and potential despite facing initial challenges. The company’s health and position have been bolstered by strategic investments totaling $700,000, showcasing investor confidence in its innovative product offering. Bon Affair’s partnerships include collaborations with retailers such as Whole Foods and Albertsons, providing the company with a platform to reach health-conscious consumers seeking alternatives to traditional wine.
As for wholesalers, Bon Affair’s distribution network is expanding, with plans to secure additional partnerships to broaden its market presence. The company’s target customers are predominantly women with busy lifestyles who value health and wellness but still enjoy indulging in social occasions with a glass of wine. Bon Affair’s unique blend of California wine, sparkling water, and electrolytes resonates with this demographic, offering a guilt-free option for their drinking preferences. In terms of funding, Bon Affair has primarily relied on investments from private investors, with $700,000 raised to date.
While the company may have experienced initial losses due to production setbacks, its resilient approach and commitment to growth position it favorably for future success. With available capital from investments, Bon Affair has the resources to expand its distribution, invest in marketing initiatives, and further innovate its product offerings. The company’s current structure likely involves key stakeholders such as Jayla Siciliano as the founder and CEO, along with a dedicated team handling various aspects of operations, sales, and marketing.
The Negotiations:
During the negotiation process on Shark Tank, Jayla Siciliano, the founder of Bon Affair, sought $150,000 for a 35% stake in her company. Mark Cuban, impressed by Jayla’s pitch and recognizing the potential of Bon Affair, made a straightforward offer matching her terms: $150,000 for 35% equity. Despite concerns raised by other sharks regarding the valuation and challenges ahead, Jayla accepted Mark’s offer, acknowledging the value of his expertise and network in accelerating Bon Affair’s growth.
While some sharks expressed doubts about the scalability and market potential of the product, Mark saw an opportunity to leverage his resources and connections to propel Bon Affair forward. His offer not only provided the necessary funding but also offered Jayla exposure and access to influential contacts crucial for expanding Bon Affair’s reach.
Ultimately, Jayla’s determination and belief in her product paid off as she secured a deal with Mark Cuban. The negotiation showcased Jayla’s resilience and ability to navigate the challenges of entrepreneurship, while Mark’s investment reflected his confidence in the future success of Bon Affair. With Mark’s support, Bon Affair is poised to capitalize on its unique offering and carve out a significant presence in the beverage market, proving that innovative ideas coupled with strategic partnerships can lead to remarkable opportunities for growth and success.
