ABS Pancakes scores Shark Tank Deal with Daymond John Beats out Robert Herjavec

ABS Pancakes Shark Tank Pitch

ABS Pancakes are protein rich, low carb pancakes for healthy eating. Four pancakes are gluten free, healthy low calories, low carb and protein rich. The Sharks try out the pancakes and think they taste like angel food cake.

Kevin O’Leary comments that most gluten free products taste like crap, and the other Sharks comment that the pancakes are dry. Kevin thinks that they could have a gluten version that would taste better. And, Mark thinks they taste better the more you have.

ABS Pancakes has $100,000 in sales over the first eleven months. Cost is $12-14 to make the packet and they sell for $42.95 which causes the Sharks to go crazy at the price.

ABS Pancakes Episode Data

• Company: ABS Pancakes – Website
• Entrepreneurs: Josh McClelland and Ashley Drummonds
• Ask: $120,000 for 40% equity
  
• Episode Season 7 Episode 712
• Companies in this episode:
  • Extreme Sandbox
  • ABS Pancakes
  • Total Tie Keep
  • FireAvert
  • Cousins Main Lobster – Featured Update
• Sharks:
  • Mark Cuban
  • Daymond John
  • Kevin O’Leary
  • Lori Greiner
  • Robert Herjavec
• First Aired: 01/05/2016
• Deal: Deal with Daymond John for 42% equity

What do the Shark Tank Investors say about ABS Pancakes?

• Mark Cuban – asks how low they can get if they are selling millions. The cost can go to $7-8. Mark thinks they are a product and not a company yet, he is out.
• Daymond John – doesn’t think they came in asking for an unreasonable valuation. He has sticker shock at $42, and doesn’t know if they can last. He is out.
• Kevin O’Leary – says I can eat these pancakes or buy a car. Kevin is out after he says this stuff tastes like crap and he doesn’t get it.
• Lori Greiner – wants to know why they cost so much, and it is because they order so little. Lori didn’t like the flavor, and she has to love what she gets behind. She is out.
• Robert Herjavec – thinks they did nuts-n-more and done well. He thinks the price is too high, but loves the packaging. He is in a really “Sharky” mood and offers $120,000 for 50% equity. Robert Herjavec says Kevin is the before and he is the after. They counter at 45% and Robert offers to go to 49%, when Daymond gets back in offering 42%. They do the deal.

ABS Pancakes after Shark Tank

Daymond John completed the deal with ABS Pancakes and they continue to sell their product primarily online. The product price dropped slightly to just under $40, which is not much of a drop after the show.