What Happened to Proper Good Soup after Shark Tank?
What is Proper Good Soup?
Proper Good is a company that makes 90-second microwavable heat-and-eat food pouches that are supposed to be more convenient and have higher quality ingredients than other microwavable foods.
Proper good business food pouches are made of translucent plastic that reveals the contents’ (claimed) higher quality, and the pouches do not need to be refrigerated.
Proper Good was founded (and is still owned by) Chris and Jennifer Jane. Chris and Jennifer both have business backgrounds, with Chris having graduated from Stanford Business School and Jennifer having a marketing degree.
Prior to starting Proper Good Food Company, the siblings were involved in a “clean condiment” enterprise that was later disbanded.
Who is the founder of Proper Good Soup?
Proper Good was formed by Chris and Jennifer Jane, siblings. They founded the firm to address a problem. They’re both extremely busy people who don’t always have time to cook nutritious meals. They wanted an easy-to-make nutritional meal option, so they created their own.
They made delicious soups in ecologically friendly packaging. They have a long shelf life and include no preservatives or chemicals, simply pure, natural components.
Proper Good soups come in a variety of diet options, including keto, dairy-free, gluten-free, and plant-based. Bone broth, which is thought to boost immunity, is an essential component in all except the plant-based soups. You may also make your own bone broth.
There are also four different kinds of oats available for breakfast. Soups are available in a range of flavors. The most popular dishes include Red Pepper and Meat Ball, Broccoli Cheddar, Southwest Chili, Chicken Noodle, Meat Ball Minestrone, and Butternut Squash.
You may buy them in pre-packaged bundles or build your own soup box. If you sign up for their subscription program, each packet of soup costs about $7 – a savings of 15%.
While $7 may seem like a lot for soup, they are virtually whole meals. Purchasing an all-natural, well-balanced lunch will surely cost more. They now sell on their own website as well as on Amazon.
What Happened to Proper Good Soup at Shark Tank pitch?
Chris and Jennifer Jane, brothers and sisters, give the Sharks a taste of Proper Good, their home-delivered soup business, in Shark Tank episode 1302. They want a Shark to help them penetrate food shops.
Chris and Jennifer entered the Shark Tank dressed to the nines in full Victorian garb. They asked $400,000 for a 10% stake in their firm, which was worth $4 million.
They discuss their company and sell the soups, which have an eight-month shelf life. They address Peter, stating they grew up watching Dragon’s Den and were overjoyed to be pitching to him.
As they approach Peter, the Sharks test their samples. They all like the soup.
The soups range in price from $7 to $8, and shipping is free. A box of 12 soups costs $30 to make and $72 to sell. They generated $556,000 in revenue in their first year of existence.
They had “slightly more than a million” in sales at the time of shooting, which was in the middle of 2021. They separate themselves from the competition by being the only meal delivery service that is shelf stable. Soups can even be served cold.
Daymond like the soup but is uninterested in the business, so he’s out. Lori thinks it’s too early, so she’s out.
They claim they were losing money. The business invested $2 million but will only make $300,000 on $1.1 million in sales. A new client costs $32 to acquire.
Kevin admits that he has no way of determining a customer’s lifetime value and leaves. Peter Jones claims to have previously invested in food firms, and that the founders are forced out by all of the investors; he goes out.
Mark claims to understand how to scale the company to massive levels. He thinks they can reach $25 million in a few years and is offering $400,000 for 25% equity shares.
Jane replies with $400,000 for a 20% stake in the company, which Mark accepts, and they walk away from the presentation with a deal.
What Happened to Proper Good Soup After Shark Tank?
One month after the anticipated air date, the deal with Mark has not been finalized. They may not need the money because they sold three and a half months’ worth of soup in the week after their initial appearance.
As a result of the Shark Tank effect on sales, the firm earned $2 million in 2021. As of January 2022, the company is still fully direct to consumer, with a desire in retail.
Net Worth of Proper Good Soup
During the pitch, the firm was valued at $4 million; nevertheless, the company is still in operation, with yearly sales of $2 million as of January 2022, and so the company net worth may have increased.
Proper Good Soup FAQs
What Exactly Is Proper Good Soup?
Proper Good Soup is a firm that makes 90-second microwavable heat-and-eat meal pouches that are supposed to be more convenient and have higher quality ingredients than other microwavable foods.
Who is he founder?
Chris and Jennifer Jane, brother and sister, are the founders.
How much were they seeking on Shark Tank?
They wanted $400,000 for a 10% stake in the firm, which was worth $4 million.
Were they able to close the deal?
Yes, but the Mark Cuban deal.
How much did the deal cost?
Mark Cuban put up $400,000 for a 20% stake in the company, which is worth $2 million.
Is Proper Good Soup still in operation?
Yes, they are still in operation as of January 2022.
Where is Proper Good Soup located?
Proper Good Soup is a restaurant in Pittsburgh, Pennsylvania.
How did they get their product?
Ingredients are sourced from all around the world, including Italy, Ukraine, Scotland, and China.
What are the ingredients in their product?
The ingredients are 100% organic and acquired from all around the world. Because of their position in the UK market, they use just 5% local food and 11% British produce to comply with British rules. Pollock oil – oil produced from ground up Pollock fish – is one of the other components in the goods.
What is the price of Proper Good Soup?
Soups range in price from $7 to $8, with free shipping. It costs $30 to create and $72 to sell a carton of 12 pouches.
How to contact Proper Good Soup?
Customers may reach Proper Good Soup via email at [email protected] or by visiting their website at http://eatpropergood.com/.
Where can I buy Proper Good Soup?
Proper Good soup pouches are available for buy online and at grocery stores. They are ready-to-eat, vegan, and made without the use of any additives or preservatives.
How can I prepare Proper Good Soup?
The pouches may be microwaved for one minute, and a whole meal can be served in less than two minutes. Proper Good also makes bone broth and quick oats for consumers who prefer single-serve convenience over soups.
The company also provides subscription services to consumers in order to save money on their purchases, however this service is not available everywhere.
Is Proper Good Soup appropriate nutrition healthy?
Proper Good is a fantastic place to buy nutritional soups large enough to serve as a meal. Proper Good’s soups are made with nutritious ingredients and come in a range of diverse flavors and options to meet most dietary needs, so you’ll never grow bored of them.
Is Proper Good Soup Delicious?
They began looking for defects to highlight, but they were difficult to find. These soups are delicious and created using premium ingredients.
The soups are shelf-stable and keep for a long time, making them ideal for a quick last-minute meal. Very good for the environment.
How long does nice Proper Good Soup keep?
Customers will not require much time to savor their items because they are all single-serve sized! If they open it and do not consume it all at once, please store it in the refrigerator for up to three days. Before opening, anybody may store it without refrigeration, but please keep it at room temperature.