Veggie Mama Shark Tank Pitch
Veggie Mama is a creative way to get kids to eat healthy. They sneak in the vegetables into their diet using ice pops with veggies infused. They are gluten free, dairy free and is Vegan.
Each package of Veggie Mama's costs $1.10 with six pops per package. They wholesale them for $2.35 and has $30,000 in sales in the last few weeks.
Teresa and Robert have borrowed money from family and friends, sold the diamond out of her wedding ring, and use all of their savings to get the business up and running. Robert dropped out of law school to focus on their business.
Production is in their own facility, having invested $140,000 with $30,000 coming from their personal funds. He is making $67,000 in another business and Kevin says he could buy him, putting him into the business full time.
Veggie Mama Episode Data
- Company: Veggie Mama – Website
- Entrepreneur: Teresa Fraijo and Robert Fraijo
- Ask: $75,000 for 15% equity
- Episode Season 5 Episode 505
- Companies in this episode:
- First Aired: 10/18/2013
- Deal: Mark Cuban and Barbara Corcoran $75,000 for 20% equity
What do the Shark Tank Investors say about Veggie Mama?
- Mark Cuban – is simplifying it as he hates the frozen food business. He is out. Mark thinks they should have taken Robert's first deal, saying when you walk into the Shark tank, you look for a sucker, if you don't see one it is you!
- Barbara Corcoran – says they have something opposite to every other partner she has in food businesses. The others had more money, and less cash on hand. She is afraid of the numbers. She is out. Barbara suggests that they go think about their deal and discuss it. She thinks the royalty needs to go away. Barbara may come back and she talks Mark Cuban into coming in $75,000 for 20% no royalty.
- Kevin O'Leary – offers $75,000 for $.50 royalty until he gets his money back, and then it drops to $.25. Modifies the deal, writing a check for $150,000 so Robert goes full time as soon as he writes the check.
- Lori Greiner – offers $75,000 for 20% and if there needs to be more money she will provide it and she will get it into all the best stores. Lori comes back with a better deal with Robert coming in to the deal, and they will go to 20%, and they want a $.20 royalty.
- Robert Herjavec – says there is no product like this and they have to go at this, but $75,000 is not enough money. He will give $75,000 for 25%, and within the next six months will give him another $75,000 to get Robert to join the business full time.
Veggie Mama after Shark Tank
And the deal with Mark Cuban and Barbara Corcoran finalized, Veggie Mama is going strong. It appears that Veggie Mama is marketing to the whole family now.