What Happened to Bee Free Honee After the Shark Tank Pitch?
What was Bee Free Honee?
Bee Free Honee was a vegan alternative to apple honey. Because it is prepared from apples, lemon juice, and cane sugar, it can be used in recipes in place of honey.
The product is safe for young children and individuals who are allergic to honey.
Bee Free Honee’s major ingredients are apple juice, cane sugar, and lemon juice. Flavourings such as ancho chile, mint, and slippery elm are available.
Organic/natural food specialty stores such as H-E-B, Sprouts Farmers Market, Vitamin Cottage Natural Grocers, Wegmans, and Whole Foods Market were the most common places to find the items.
Bee Free Honee was exhibited in the Specialty Food Association’s Summer Fancy Food Show in 2016 and Winter Fancy Food Show in January 2017.
Who is the founder of the Bee Free Honee?
Katie Sanchez accidentally invented the product in 1999 while cooking apple jelly.
The company was established in 2012, with a production facility in River Falls, Wisconsin.
After being featured on Shark Tank in February 2016, sales more than doubled, and the company relocated operations from Wisconsin to Texas.
Melissa Elms, co-owner of the firm, claims that by not using bees in the manufacturing process, the product supports honeybee populations, which she claims are usually subjected to improper conditions in commercial production.
Whole Foods Markets and other natural food retailers around the country carry Bee Free.
It costs around $12 per jar and is available in five flavours: original, Ancho Chile, Mint, Chocolate, and “Slippery Elm.”
What Happened to Bee Free Honee During the Shark Tank Pitch?
Melissa and Katie entered Shark Tank Season 7 Episode 17 in quest of $100,000 in exchange for a 10% ownership in their business. This translates to a $1 million valuation.
According to the Sharks, one pound of honey takes 60,000 bees. Theirs is the only alternative honey replacement made from apples grown in the United States.
They want the Sharks to figure out what’s going on!
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 because it is enjoyed by vegans.
Daymond claims to be acquainted with bees and is interested how it compares to honey.
Bee Free costs $1.62 to make and $5.99 each bottle; an equivalent size jar of honey costs $10.99 or more.
They claim to be present in 9 of 11 Whole Foods stores.
They had made $104,000 over the course of two years.
They earned $78,000 in their first year.
The company has just finished testing in Costco and is preparing to fill that order. In order to expand output, they need funding to build a new kitchen.
Sacca is curious if it can be utilized by cooks. Mark claims it’s a $100 million dollar brand if it’s sold under the premise of rescuing bees.
Kevin is departing because he feels they haven’t made enough money.
Barbara feels they are energetic, but their branding should be improved. Daymond says he’ll make them a $100,000 deal for a 25% ownership right now.
Sacca claims to have been a vegan in the past and is now an investor in the plant-based eatery Veggie Grill. He wants to find low-cost plant-based products, but he believes it will cost more than $100,000.
After a brief wait, Sacca offers $200,000 for a 30% share. Daymond says he’ll match it: $100,000 for 15% or $200,000 for 30%.
Then Daymond offers $100,000 for a 10% commission plus handling any internet sales for a 20% commission.
Barbara accepts Daymond’s offer and professes to be well-versed in the culinary arts. Mark says he’ll put in $210,000 with Barbara and Sacca for a 30% ownership.
Mark will be in charge of web sales, Barbara of grocery store sales, and Sacca of restaurant sales.
Daymond is clearly dissatisfied, and Kevin is puzzled that such a thing received funded.
What Happened to Bee Free Honee After the Shark Tank Pitch?
They had employed additional personnel and increased their contract manufacturing agreement by June of 2016.
While the original apple, mint, slippery elm, and ancho chili flavours are still available, two new ones have been added: red curry and flower pollen infused.
They come in a newly designed 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%.
In late June 2016, the entrepreneurs took their products to New York’s Fancy Food Show, expanding their reach even more.
The goods were available at Natural Grocers, Wegmans, Fred Meyer, Whole Foods Market, Sprouts Farmers Markets, and Brookshire’s, as well as other privately held shops.
Chris Sacca featured the product in his Veggie Grill chain’s offerings, while Mark Cuban helped move the product forward on Amazon and Zulily.
Bee Free Honee appeared to have reached a deal with three of the Sharks.
Unfortunately, the company was forced to close its doors in 2019.
What is Bee Free Honee’s Net Worth?
Melissa and Katie come on Shark Tank Season 7 Episode 17 in quest of $100,000 in exchange for a 10% share in their business. This translates to a $1 million valuation.
They accepted a $210,000 offer from Three Sharks for a 30% ownership in the company, bringing the total worth to $700,000.
Who are Bee Free Honee’s Competitors?
There are no competitors for Bee Free Honee.
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Bee Free Honee FAQS
1. What was Bee Free Honee?
Bee Free Honee was a product that claims to replace honey with its own apple flavour.
2. Was Bee Free Honee natural?
Yes, it’s a natural honey substitute made from apples.
3. How does Bee Free Honee work?
The product contains fruit, cane sugar, and juice from apples that are not treated with pesticides or herbicides.
4. Whom does Bee Free Honee benefit?
The product is marketed to vegans.
5. What happened to Bee Free Honee?
Bee Free Honee shut down in June 2019, and it’s not clear if the product will return.
6. Who founded Bee Free Honee?
Katie Sanchez and Melissa Elms founded the Company in 2012.
7. What was the price of Bee Free Honee?
Bee Free costs $1.62 to make and $5.99 each bottle; an equivalent size jar of honey costs $10.99 or more.
8. How much was Katie Sanchez and Melissa Elms seeking in the Tank?
They were seeking $100,000 in exchange for 10% ownership in their Company.
9. Where can they buy Bee Free Honee?
They are no longer available in business.
10. How much did they get from the Sharks?
Three Sharks invested $210,000 for a 30% ownership in the business.
11. What happened to Bee Free Honee after the Sharks Tank?
They increased production capacity of their product, and they started selling their products in more places.
Bee Free Honee appeared to have reached a deal with three of the Sharks.
Unfortunately, the company was forced to close its doors in 2019.
