Bee Free Shark Tank Updates 2022: What happened to Bee Free Honee after the Shark Tank Pitch?

bee free shark tank

What Is Bee Free Honee, and How Does It Work?

Bee Free Honee was an apple-based honey substitute that was vegan. Because it’s created using apples, lemon juice, and cane sugar, it can be used as a honey alternative in recipes. The product is safe for young children and individuals who are allergic to honey.

Bee Free Honee’s main ingredients are apple juice, cane sugar, and lemon juice. Flavors like ancho chile, mint, and slippery elm are among the options. Organic/natural food specialty stores including H-E-B, Sprouts Farmers Market, Vitamin Cottage Natural Grocers, Wegmans, and Whole Foods Market were the most common places to find the products.

Bee Free Honee was exhibited at the Specialty Food Association’s Summer Fancy Food Show in 2016 and Winter Fancy Food Show in January 2017.

Quick Details About Product:

Company Name Bee Free Honee
Founder Katie Sanchez and Melissa Elms
Product Honey alternative made from sustainably harvested plants
Investment Seeking $100,000 for 10% equity in Bee Free Honee
Final Deal $210,000 for 30% equity in Bee Free Honee
Shark Chris Sacca, Barbara Corcoran, and Mark Cuban

Who Are the Bee Free Honee Founders?

In 1999, while making apple jelly, Katie Sanchez invented the product by accident. The company was established in 2012 and has a production facility in River Falls, Wisconsin. After appearing on Shark Tank in February 2016, sales more than doubled, and the company relocated from Wisconsin to Texas.

Melissa Elms, the company’s co-owner, claims that by not using bees in the manufacturing process, the product improves honeybee populations, who she claims are regularly subjected to harmful conditions in commercial production.

Bee Free is available at Whole Foods Markets and other natural food outlets nationwide. It comes in five flavors: original, Ancho Chile, Mint, Chocolate, and “Slippery Elm,” and costs around $12 per jar.

What Happened to Bee Free Honee During Her Pitch on Shark Tank?

Melissa and Katie came on Shark Tank Season 7 Episode 17 with the hopes of receiving $100,000 in exchange for a 10% interest in their business. This translates to a $1 million price tag.

According to the Sharks, one pound of honey takes 60,000 bees. Their product is the only non-honey alternative made from apples grown in the United States. They want the Sharks to figure out what’s the big deal!

As they offer out samples, they declare the product contains apples, a little lemon juice as a preservative, and some cane sugar. Kevin inquires as to why the world requires this, and they explain that it is beneficial to vegetarians.

Related Post: SomniFix Shark Tank Updates 2022: What Happened After SomniFix Accepts $500,000 From Mark Cuban?

Daymond claims to be familiar with bees and wants to know how honey compares. Bee Free costs $1.62 to make and sells at $5.99 each bottle; a jar of honey of equivalent size costs $10.99 or more. They claim to be at nine of the eleven Whole Foods stores.

They had made $104,000 over the course of two years. They made $78,000 in their first year. Costco testing is now complete, and the company is preparing to fill the order. In order to enhance productivity, they need money to build a new kitchen. Sacca wants to know if cooks can utilize it. Mark believes it’s a $100 million dollar brand if it’s sold under the premise of bee rescue.

Kevin is departing because he feels they haven’t made enough money. Barbara thinks they’re passionate, but their branding may use some work. Right now, Daymond claims he’ll pay them $100,000 for a 25% interest.

Sacca claims to have been a vegan in the past and is now a shareholder in the plant-based eatery Veggie Grill. He estimates that he will require more than $100,000 to discover low-cost plant-based items.

After a brief pause, Sacca offers $200,000 for a 30% share in the company. Daymond says he’ll match it, offering $100,000 for 15% or $200,000 for 30%. Then Daymond offers $100,000 for a ten percent fee, plus a twenty percent commission on any internet purchases.

Barbara accepts Daymond’s offer and pretends to be a culinary expert. Mark says he’ll put in $210,000 for a 30% ownership in the company with Barbara and Sacca. Mark will be in charge of web sales, Barbara of grocery store sales, and Sacca of restaurant sales. Daymond appears to be dissatisfied, and Kevin is surprised that such a project was funded.

After the Shark Tank Pitch, Honee Is Bee-Free:

They had employed additional personnel and increased their contract manufacturing arrangement by June of 2016. While the original apple, mint, slippery elm, and ancho chili flavors have been retained, two new ones have been added: red curry and flower pollen infused. They are packaged in a new bottle with a newly branded label that clearly states that the product protects millions of bees and is made from apples.

By mid-July 2016, they hoped to have increased their production capacity by 600 percent. In late June 2016, the entrepreneurs took their products to the Fancy Food Show in New York, extending their reach even more. The goods are available at Natural Grocers, Wegmans, Fred Meyer, Whole Foods Market, Sprouts Farmers Markets, Brookshire’s, and other privately-owned shops.

Related Post: Float Baby Shark Tank Update 2022: What Happened to Water Spa for Babies After Shark Tank?

Mark Cuban helped move the product ahead on Amazon and Zulily, while Chris Sacca included it in his Veggie Grill chain’s offers. Three of the Sharks appear to have reached an arrangement with Bee Free Honee. Unfortunately, the company had to close its doors in 2019.

The Net Worth of Bee Free Honee:

Melissa and Katie come on Shark Tank Season 7 Episode 17 with the hopes of raising $100,000 in exchange for a 10% interest in their business. This translates to a $1 million price tag. They accepted a $210,000 offer from Three Sharks for a 30% ownership in the company, bringing the total worth to $700,000.

Check Our Website For More Updates:

Exit mobile version