Gotta Have S'more: The Sweet Success on Shark Tank
The Pitch
In 2014, entrepreneur and s'mores enthusiast, Katie Francis, stepped into the Shark Tank to pitch her innovative product, Gotta Have S'more. The Sharks were intrigued by her sweet treat, and the outcome was nothing short of impressive.
The Product
Gotta Have S'more is a s'mores kit that includes everything you need to create the perfect campfire treat. The kit comes with a patented, mess-free roasting stick that allows you to toast marshmallows to perfection. The kit also includes gourmet marshmallows, artisanal chocolates, and graham crackers. Francis's goal was to elevate the traditional s'mores experience and make it accessible to everyone, not just campers.
The Ask
Francis asked the Sharks for an investment of $50,000 in exchange for 20% equity in her company. She believed that with the right partner, she could take Gotta Have S'more to the next level and make it a household name.
The Sharks' Bites
- Mark Cuban: Cuban was the first to take a bite, offering Francis $50,000 for 25% equity. He believed that the product was a great fit for his portfolio and saw potential for expansion.
- Lori Greiner: Greiner, known as the "Queen of QVC," was impressed by the product's uniqueness and saw an opportunity to showcase it on her platform. She offered Francis $50,000 for 25% equity, matching Cuban's offer.
- Robert Herjavec: Herjavec was skeptical at first, but after tasting the s'mores, he was hooked. He offered Francis $50,000 for 26% equity, slightly above the other two Sharks.
The Deal
After some negotiation, Francis accepted Lori Greiner's offer of $50,000 for 25% equity. The partnership proved to be a sweet deal for both parties, as Greiner's expertise helped Gotta Have S'more gain national exposure and massive sales.
The Aftermath
Since appearing on Shark Tank, Gotta Have S'more has experienced tremendous growth. The company has been featured on QVC, major retailers, and has become a popular item at outdoor events and campsites. Francis's innovative product has brought the joy of s'mores to millions of people, and her partnership with Greiner has been a key factor in her success.
Gotta Have S'more is a shining example of how a small business can make a big impact with the right investment and partnership. If you're a s'mores lover, you owe it to yourself to try this gourmet treat. Who knows, you might just get hooked!