Shark Tank US | Robert Thinks That His Money's Safe With SweetKiwi Entrepreneurs

next up is a sweet Indulgence without the [Music] guilt hi sharks I'm Aima and I'm Michael we seek $250,000 for 5% of our company Sweet kiwi sharks as a married couple and parents and business partners we can tell you life is all about bad Bal but when it comes to eating we all struggle to balance eating healthy with eating what tastes good let's be honest all the Indulgence stuff we love isn't good for us and that's where we come in with sweet kiwi that's right sweet kiwi is real Greek yogurt whipped to Frozen Perfection it's not just any frozen yogurt it's an amazing delicious whipped Greek frozen yogurt low in calorie that's surprisingly great for you it's made with nutrient-dense ingredients and it supports gut health and wellness it's made from real milk source from small holder family-owned farms and each pint Bast of 22 g of protein Prebiotic fiber gut healthy probiotics and a unique Bland of immunity boosting superfoods all of which work better together kind of like us exactly so sharks who's excited about whipping up the frozen dessert aisle with sweet and changing the way consumers experience food in front of you we have six different flavors we have vanilla bean cookies and cream chocolate hazelnut which are our classic flavors you have a raspberry fro which is one of our Innovative flavors a hibiscus and ginger which is one of our more inclusive flavors and our mango mojito as well the raspberry fro is amazing it is that's actually my favorite actually oh my God I love the cookies and cream thank you how much added sugar do you put into this um so each Pine has averagely between 35 to 40 gram of total sugars that good okay so tell us about you like how did you come up with this and what what's your background um so my background I'm from Nigeria I was born in Nigeria raised between Nigeria and the UK and then I moved to Dallas Texas yeah go Ms um so when I was in Dallas I was diagnosed with a uterine fibroid and I had to go see a doctor and I was just 22 at the time and she was telling me all this stuff about surgery and so I started thinking maybe a lifestyle change could be a different solution and so I started researching I changed my diet started eating better but I struggled with the dessert part and I found frozen yogurt but I started realizing it was just not healthy so much sugar lowfat but crazy amount of sugar so I started making this stuff in my home kitchen um did yes and and you have no Chef or ice cream background no and I kept getting better at it and then I went to Penn State to perfect the recipe I've taken all the courses from culture dairies to ice cream manufacturing and just kept getting better and um that's how sweet kiwi came about I was about to open a store in Dallas and my brother was getting married in Nigeria and so I went to Nigeria and I decided they didn't have anything healthy at all so we opened stores in Nigeria we grew that business in Nigeria yes correct retail stores Mor stores wow so I grew that business to one of the biggest frozen yogurt companies in Africa and we went how long ago was this how long ago wow this I I started in 2011 really and what's it called there sweet sweet oh same name same name does it it's still around it's still running it now is the international business part of this offer no it's not so sweet kiwi in the US is separate is registered as a separate uh SPV by itself how how big is It lifetime revenue is about $2 million we want to take all the success that we've been in experience and be able to take that experience to build a cpg brand in N focused on the American Business and so came back here and I started getting approached by people who thought that it was a phenomenal product and that's how we relaunched we were approached by Whole Foods and right now we're in Whole Food stores Walmart stores how many so we're just in about 1,700 stores that's not bad so we've been in hwood for over 2 years we just launched in Walmart this year we just launched this month into Kroger nationally what are the USA sales so so this year we've already done $650,000 and we're on track to do about between 1.2 to 1.4 by end of the year wow can you walk us through the price Model what does it sell for at retail and aage okay so our products are sold between $4.97 all the way up to $6.99 how how does that compare we're pretty competitive in comparison to other products on the Shelf but if you think about what makes swe kiwi so unique that it's the only frozen whipped Greek yogurt on the Shelf so guys if you make 600,000 this year will you break even will you lose money will you make money so we already uh Break Even cash flow we're now looking for outside Capo to be profitable what we're really focusing on on is to one Builder brand marketing in and really focusing on taking that I've heard enough I'm going to make you an offer okay it's going to reflect the risk I see inherent in this deal um this category is very crowded the fact that you've got Kroger very hard to get in I'll give you $250,000 for 20% okay [Music] wow thank you for your offer we would like to hear other absolutely all right so listen my my thoughts are you're extremely impressive to open a business a whole another country but at the valuation as well as it being one of my first Journeys heading down this route it's an expensive education for me um I love the product but as for the business I'm out thank you thank you very much guys you you alluded to the marketing you know how do you convey that this is great you know cuz you're not big enough to go and do a national ad campaign what works right so right now what works for us is doing demos um doing promos um often times and what cost of good sold right now average is $2.25 our goal is to get that under 220 because as we reach economies of scale we eventually get there why because one you have to price in the promotions you have to price in the marketing that's all part of the model what we've been able to achieve over the last year we went from selling under 320 to now selling above 420 that's your wholesale price that's our wholesale price that's really expensive you know guys you got you got an offer on the table you know you got an offer on the table we're also getting a lot of press coverage we're I know but you know like in my I I'm rooting for you you have an offer on the table what were you going to say I was saying coming back to what you said earlier Mark you brought up the very valid point biggest problem that we have to solve right now is marketing how do we build a brand and how do we tell a story in a very very cluttered world that's actually what the capital is actually going to be used for you know based on my frozen farmer experience right I mean we worked really hard to be really successful isn't it competitive it's working yeah it is is um I love the product but I'm sorry I'm going to have to be out she wants to kick your ass guys let me let me step in look I kept on asking about marketing because it is the hardest question corre you've solved every other question but there's huge uncertainty and you didn't really have a response of what you're going to do I don't know for certain what that path is so for those Reasons I'm out I don't know for certain what's going to happen I don't know what's going to happen for certain tomorrow either yeah but at least you have a marketing plan for your products well Mark can I just say that um when I started this business in 2011 I was so unsure I never thought I'd be an entrepreneur I always wanted to do something that was going to help people I wanted to work for the UN I was volunteering for the IRC in Dallas you in Dallas of course and and um the one reason I knew that I could do this was the exciting out gone three sharks are out ahima and Michael had an offer on the table from Kevin for their whipped frozen Greek yogurt business sweet kiwi but their lack of focus on the offer has jeopardized it all right all right I'm out out gone I don't know what you're doing you say you're an entrepreneur you focus on the money they're all out there's only one guy left I made my offer when there was all these sharks robt is Mr Wonderful's pissed okay I'm out still in I understand you're care I don't care I'm out you got Robert go for it you know I've learned uh business is about making money not always about emotion I mean that's just that's just V my and I'll cry if I want to yeah you can and cry you are you know there is no well Robert you step up there is no certainty in life right I mean you you went to a country you didn't know anything my dad came here at 37 on a boat didn't even speak the language what certainty did he have what I look for is with people that can land on their feet and adapt adaptability is the greatest strength of an entrepreneur I don't have a lot of investment in this space but I love this space and I want to learn and I've been looking to learn with somebody I've been looking to partner with somebody where I can use my Capital my experience with Enterprises and we can build something greater and there are no two better people that I'm going to put my money into than the two of you why can't this be a 50 million $100 million business and I can help you get there so I will pick up Kevin's emotional theatrics off the ground thank you very much I'll pick up that same offer I'll give you the 250,000 for 20% and why not us C can I make a counter offer come on after that great speech man I'll tell you I'll tell you what before the speech that pretty good the only good answer yesy I love this speech I I'd like to counter by saying we'd like to offer you 71.1% in equity and throw in 5% advisor shares your counter is 250,000 for 125% for 7.1% in straight Equity 5% advisor share 12.1 total I'll go down I'll split the difference with you I'll go I'll go 250,000 for 16% I mean we're both learning here you got to believe in me I believe in you we can make this thing happen what do you think it's going to come on us okay so we appreciate the offer and would like to say yes well was you sure what was coming after that conat awesome thank you very much aome great job my gosh so impressive

Channel: Sony Pictures Television

Views: 122,741

Keywords: Shark Tank, Shark Tank US, Shark Tank USA, Shark Tank America, American Shark Tank, Shark Tank Pitches, Shark Tank bad pitches, Shark Tank Best Pitches, Shark Tank Covid, Shark Tank Season 12, Mark, Blake Mycoskie, Kevin, Lori, Daymond, mark shark tank, kevin shark tank, lori shark tank, daymond shark tank, mr wonderful, shark tank moments, shark tank deals, shark tank pitch, shark tank best pitch, kevin oleary, mark cuban, lori greiner, Barbara Corcoran

Id: vsZHrUpyuDo

Length: 11min 38sec (698 seconds)

Published: Mon Feb 12 2024