Junobie Reusable Breast Milk Bags
DEAL
EPISODE SUMMARY
🕓 Air Date: February 25, 2022
Asking For:
$100,000 for 10%
Investor:
Emma Grede
Deal:
$100,000 for 22,50%
PRODUCT SUMMARY
Junobie offers an eco-friendly, reusable breast-milk storage bag made of 100% food-grade silicone, ensuring secure and space-saving storage for mothers.
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Background Story
Nickey Ramsey, the passionate founder of Junobie, is based in West Lafayette, Indiana, where she embarked on a mission to revolutionize breast-milk storage. Her personal journey as a mother, coupled with her professional background as a former traveling therapist, instilled in her a deep understanding of the challenges faced by mothers during the breastfeeding phase. Frustrated with the inefficiency and environmental impact of disposable plastic storage bags for breast milk, Nickey was determined to find a sustainable alternative.
Her motivation stemmed from a desire to create a product that would not only cater to the needs of mothers but also align with her strong commitment to environmental sustainability. Having experienced homelessness during her teenage years, Nickey’s past struggles ignited a fierce determination to break the cycle of adversity and poverty, inspiring her to create a solution that would benefit both mothers and the planet.
With a clear vision for a better, more eco-friendly alternative, Nickey’s background in understanding the complexities of maternal care and her personal journey of resilience and triumph became the driving force behind the birth of Junobie. Her unwavering dedication to providing a safe and efficient breast-milk storage solution reflects her passion for making a positive impact on the lives of mothers and the environment, positioning Junobie as a pioneering force in the sustainable baby product industry.
The Product
Junobie is an innovative, eco-friendly breast-milk storage solution crafted from 100% food-grade silicone. Designed with the specific needs of breastfeeding mothers in mind, Junobie offers a reliable and sustainable alternative to traditional single-use plastic storage bags. Its user-friendly design ensures secure storage and preservation of breast milk, addressing the common issue of leaks and spills experienced with conventional options.
Equipped with a patent-pending slider mechanism, the Junobie bag guarantees a tight seal, preventing any potential leakage while maintaining the freshness of the stored milk. The bag’s flexibility allows it to stand upright or lay flat when compressed, making it suitable for freezing breast milk according to a mother’s convenience. Furthermore, its dishwasher-safe and high-heat-tolerant properties ensure effortless cleaning and sterilization, providing mothers with a hygienic and hassle-free storage solution.
With a retail price of $34.99 for a four-pack and $19.99 for a two-pack, Junobie offers an affordable yet premium-quality option for breastfeeding mothers looking for a sustainable and dependable breast-milk storage solution. The product can be conveniently purchased through Junobie’s official website, offering a seamless and direct purchasing experience for consumers seeking a more environmentally conscious and practical approach to preserving breast milk.
How It Went
The company’s position before Shark Tank
Junobie, led by the visionary Nickey Ramsey, has demonstrated a robust performance and a promising market position within the eco-friendly baby product industry. Despite encountering some inventory challenges, the company has managed to achieve significant milestones, with sales totaling $86,000 in the current year, primarily driven by direct sales through their official website. Having initially featured on Amazon, the company made a strategic decision to prioritize their website sales due to inventory constraints, showcasing their agile approach to adapting to market dynamics.
While Junobie primarily operates through its direct-to-consumer channel, it has been actively pursuing retail placement, with plans to collaborate with retailers to expand its market reach. The company has strategized to leverage its sustainable and consumer-centric product ethos to establish partnerships with like-minded organizations, aiming to amplify its brand presence and market penetration. Nickey’s self-funding approach, coupled with meticulous financial management, has enabled the company to navigate through challenges and sustain its growth trajectory. Despite facing manufacturing lead time of six weeks, Junobie has demonstrated resilience, emphasizing its commitment to ensuring product quality and sustainability while meeting market demand.
The company’s current structure reflects its strong emphasis on sustainability, customer satisfaction, and strategic growth. With a dedicated focus on retaining ownership and fostering organic growth, Junobie is poised for further expansion and market dominance within the eco-conscious parenting sector. As Junobie continues to build on its successes and explore new avenues for growth, its customer-centric approach and commitment to environmental well-being position it as a trailblazer in the sustainable baby product market.
The Negotiations:
During the gripping negotiation process on Shark Tank, Nickey Ramsey, the founder of Junobie, faced a series of compelling offers and decisions from the panel of Sharks. Initially seeking $100,000 for 10% equity, Nickey received offers from multiple Sharks, each presenting their unique propositions. However, as the negotiation progressed, Nickey faced the challenge of balancing financial support with the preservation of her company’s equity.
After several Sharks opted out, Emma Greiner emerged as a potential partner, offering $100,000 for a substantial 25% equity share in Junobie. Recognizing the valuable expertise and support Emma could offer, Nickey acknowledged the significance of the offer while expressing reservations about ceding such a substantial share of her company. Navigating through the negotiations with careful consideration, Nickey countered Emma’s proposition, demonstrating her astute business acumen and determination to retain a greater portion of her company.
Ultimately, Nickey settled on a deal with Emma, securing $100,000 for a 22.5% equity share. Nickey’s decision to accept Emma’s revised offer was underpinned by her desire to balance financial support with maintaining a significant stake in the company’s future growth and development. Nickey’s strategic negotiation tactics not only enabled her to secure the necessary funding for Junobie’s expansion but also allowed her to forge a partnership with a Shark who could provide invaluable mentorship and guidance in propelling Junobie to new heights in the sustainable baby product market.
