Grease Bags Tank Pitch
Grease Bags are the answer to disposal of food grease at cleanup time. People pour there grease in old coffee cans, or down he drain, causing grease to plug drains. Cities are wasting hundreds of thousands of dollars due to damage from grease in drains.
Grease Bags are disposable and combustable enabling you to throw them away. The pad inside the bag absorbs the oil and is also the same ingredient that is used in oil spills.
Latangela has not started selling the bags, and she is planning on selling them at $12.99 for three bags, and a cost of $2.49.
Latangela brings her chicken wings into the tank which the Sharks love.
Grease Bags Episode Data
- Company: Grease Bags
- Entrepreneur: Latangela Newsome
- Ask: $75,000 for 25% equity
- Episode Season 8 Episode 813
- Companies in this episode:
- Grease Bags
- Pinblock
- Mama’s MilkBox
- Nicepipes Apparel
- Daymond John – Featured Profile
- Sharks:
- First Aired: 01/13/2017
- Deal: Deal Barbara Corcoran $75,000 for 50% equity
What do the Shark Tank Investors say about Grease Bags?
- Mark Cuban – thinks her biggest challenge is that the people she is targeting are health conscious people who are not likely to have grease. He is out.
- Barbara Corcoran – is baking every single morning. She wonders if she can pour the hot grease into the bag, but you have to let it cool which is a major problem. She is out. Barbara is rethinking going out, and asks her if she can cut the price in half, and she wants 50% for $75,000. She takes the deal.
- Kevin O’Leary – says it needs to be a foil package to take the grease from bacon. Kevin would not use it because he cooks bacon so he is out.
- Lori Greiner – has never fried anything and eats healthy foods so she has never had a problem with grease.
- Robert Herjavec – thinks her presentation is a 10, but the product has problems, which causes them to rely on sales,and there is no sales. He is out.
Grease Bags after Shark Tank
The company pre-sold bags and had problems with their co-packer. They had to change and are working on getting the pre-sold orders out the door.