His & Her Bar
NO DEAL
EPISODE SUMMARY
🕓 Air Date: January 8, 2021
Asking For:
$50,000 for 10%
Investor:
No Deal
Deal:
No Deal
PRODUCT SUMMARY
His & Her Bar is an aphrodisiac bar made from seven aphrodisiac superfoods designed to stimulate sexual desire and promote intimacy between couples.
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Background Story
Jennifer and Michael, the founders of His & Her Bar, embarked on their entrepreneurial journey after facing career setbacks. Michael, a former Navy serviceman and firefighter, was fired from his job, leading them to sell their house and move to start anew. Jennifer left her corporate job to pursue entrepreneurship, and they both launched the aphrodisiac bar business as a way to connect with others and bring more intimacy into relationships.
The Product
His & Her Bar is a unique aphrodisiac bar that uses seven aphrodisiac superfoods, including maca, to stimulate sexual desire and promote closeness between couples.
The bars have a creamy consistency with an earthy and nutty flavor, featuring a hint of cayenne for a spicy kick. Each bar contains 220 calories and is meant to be consumed together with a partner during what they call sexy snack time.
How It Went
The company’s position before Shark Tank
At the time of the pitch, His & Her Bar had sold approximately 500 bars, generating a little over $2,000 in revenue. The founders explained that they were in a challenging phase due to the ongoing pandemic and had to work side jobs to sustain themselves. They emphasized their need for investment to build brand recognition and expand their business.
The Negotiations:
The Sharks expressed concern about the low sales and questioned the founders’ decision to launch the business during such a challenging time. They also discussed the calorie content and formulation of the bars. Ultimately, all five Sharks decided not to invest in the company, with Kevin O’Leary suggesting that one of the founders should get a job for financial stability.
Despite the rejection, the founders were resilient and emphasized their determination to keep fighting and grow their business. The Sharks appreciated their determination but believed that the business was not ready for investment due to its current challenges.
