Chapul Shark Tank Pitch
Chapul is changing the way people think about food, and they do it with an energy bar that uses crickets for protein. Each bar has crickets in them.
Pat is introducing the Chapul bars to all the Sharks, and he tells them that the crickets are turned into a flour keeping you from seeing any body parts of the cricket.
The energy bar is modeled after the Sushi industry. One man introduced the California roll which is a soft entry.
Sales to date is $50,000 and is increasing 33% month over month revenue. Chapul is the only one that is selling a cricket bar selling for $2.99 and costs $1 to manufacture. They get the crickets from a cricket ranch which manufactures them for the bait industry.
They freeze the cricket so their metabolism slows their system down, and then they grind them into a flour.
Chapul Episode Data
- Company: Chapul – Website
- Entrepreneurs: Pat Crowley
- Ask: $50,000 for 5% equity
- Episode Season 5 Episode 521
- Companies in this episode:
- Garage Door Lock
- FiberFix – Featured Update
- First Aired: 03/21/2014
- Deal: Deal Mark Cuban $50,000 for 15%
What do the Shark Tank Investors say about Chapul?
- Mark Cuban – asks if there is competition by creating cricket flour. His potential competition wants to sell to them. he wants to purchase the flour, rather than create it. Mark suggests selling the flour to the other guys branded as Chapul flour. He tells Pat that it is not worth 5% in exchange of time. Mark wants a better offer. Pat comes back at Mark with $50,000 for 15% They have a deal.
- Daymond John – can't rap his head around it, and he tries to get away from bugs. He is out.
- Kevin O'Leary – Crickets are considered very important throughout the country, and in China it is extremely unlucky to kill them, let alone eat them. Kevin is out.
- Barbara Corcoran – ate the bar and it taste great, but she thinks it is going to be a long journey that will cost more money to get there. She is out.
- Robert Herjavec – says that he is freaked out by snakes and bugs. There is no way is eating this stuff. He is out. The more he talks, the more Robert is interested in his business. He thinks the business is the flour, not the energy bar. Robert offers the $50,000 for 20%.
Chapul after Shark Tank
Chapul has a major protein bar producer manufacturing their bars after making the deal with Mark Cuban. They also have a Cricket baking flour in the lineup of products.