MealEnders is a unique way to control your appetite. The company makes the pitch in Shark Tank Season 8. They have the antidote to eating.
MealEnders is first Weight Loss product to avoid getting ripped on Shark Tank
MealEnders dissolves in your mouth without chewing. The Sharks say it tastes good. But, Lori says it leaves kind of a funky taste in your mouth. You don't want to eat anything else.
They have less than two percent returns and $1.4 million in sales in less than a year. They have a single bag or a continuity program at a lower rate.
Mark Bernstein is getting older and frequented the doctor who kept telling him to lose weight. He began looking for a product that would help him stop eating and created MealEnders for this job.
They tested with a third party, and seventy-five percent of the people in the test stopped eating and avoiding snacking with 6,000 reorders meaning 21% of the people reorder the product.
Mark's family invested $200,000. MealEnders engaged a convertible note with outside investors for $1.1 million.
They have not made a profit yet, and they reinvested the funds. They brought in $170,000 last month and spent half the revenue on advertising.
Entrepreneur: Mark Bernstein
Ask: $350k for 8% equity
Companies in this episode: The Sleep Styler, Rareform, MealEnders
Season: Season 8 Episode 819
Sharks: Mark Cuban, Barbara Corcoran, Kevin O'Leary, Lori Greiner, Robert Herjavec
First Aired: 04/08/2016
What do the Shark Tank Investors say about MealEnders
Mark Cuban thinks this should be the most viral product ever, but he doesn't have the reorders. Mark is out.
Barbara Corcoran experience with her tongue is terrific. Psychologically she gets it, but she thinks it is going to take too much money to get it to where it needs to go. She is out.
Kevin O'Leary said this is the first weight loss product that is on Shark Tank that did not get ripped to shreds. He said you gave the facts, but he doesn't like the product, and he wouldn't take it, so he is out.
Lori Greiner doesn't want to retake it because of the secondary taste. She doesn't feel very confident about his product, so she is out.
Robert Herjavec thinks he is on to something, but he doesn't like it because it is kind of like the supplement business and he is going to burn a lot of money to get to mass. He is out.
MealEnders after Shark Tank
The company takes advantage of the Shark Tank effect when the episode airs and sees a spike in new customers. Having your product on Shark Tank, even without a deal is an excellent opportunity if you know how to leverage the chance.
MealEnders is selling on Amazon. Will you be ordering a bag to try out this weight loss solution?