Bleni Blends Smoothie Kiosk Update | Shark Tank Season 14
Stuart and Peter Shapiro got the idea for Bleni Blends during a trip to Canada, where they saw a smoothie vending machine in action. They realized it could solve the problem of vending machines offering mostly unhealthy snacks and drinks. They brought the idea to the U.S., creating Bleni Blends to serve fresh, dairy-free smoothies quickly and easily. Will the sharks offer them an investment? Let’s find out in our Bleni Blends update and pitch recap.
If you’re short on time, here’s a quick overview of what happened to Bleni Blends after
Stuart and Peter entered
In terms of a Bleni Blends update, the company continued to expand its operations, reaching 78 kiosk locations by August 2024, and experienced an impressive revenue growth from $275,000 in 2021 to $1 million in 2024.
| Shark | Result |
| Daniel Lubetzky and Lori Greiner | Accepted offer of $250,000 for 35% equity + $500,000 line of credit |
| Daymond John | No offer |
| Mark Cuban | No offer |
| Kevin O’Leary | No offer |
Shark Tank Bleni Blends Pitch
- Entrepreneurs: Stuart Shapiro and Peter Shapiro
- Business: Smoothie kiosk, vending machine
- Ask: $250,000 for 6% equity
- Result: $250,000 for 35% equity + $500,000 line of credit
- Sharks: Lori Greiner and Daniel Lubetzky
Stuart and Peter entered
They explained they needed the investment to scale operations, increase inventory, and secure the patent rights for the machines in the U.S.
In terms of design, Bleni Blends machines are compact and occupy just 12 square feet.
They feature touch screens that accept multiple payment methods, including cards and digital wallets.
Moreover, the machines dispense fresh, dairy-free smoothies and iced coffee made from natural ingredients.
Additionally, these smoothies contain no artificial flavors or added sugar, offering a healthier alternative to typical vending machine snacks.
To maintain convenience and quality, the smoothie pouches are aseptically packaged, ensuring a long shelf life without refrigeration.
As the sharks tried the samples, they all agreed the smoothies were delicious. Stuart and Peter emphasized that the smoothies are prepared and packaged in three facilities across the U.S.
The business operates on a dual model designed to benefit both operators and consumers.
For entrepreneurs, they can purchase a machine for $30,000, place it in high-traffic locations, and spend only about five hours per week on restocking and maintenance.
At the same time, consumers enjoy convenient access to fresh, healthy drinks through an automated format that fits modern lifestyles.
Furthermore, the company holds a 15-year exclusive license for U.S. operations, positioning it for long-term growth.
Currently, Bleni Blends has 41 machines in the market and 20 more in their warehouse. A single machine generates an average of $8000 per month, making it a lucrative option for operators.
Each smoothie costs $1.40 to produce and retails for $5, providing strong profit margins.
However, the machines require occasional refilling and maintenance, which slightly impacts profits, but the company has still seen significant growth since its launch.
Looking back, Bleni Blends started in 2020 with $10,000 in revenue, which grew to $250,000 in 2021. By mid-2022, the brothers projected $1.5 million in gross revenue.
On the manufacturing side, building a new machine costs $19,500, and it sells for $30,000.
Although the machines are manufactured overseas, Stuart and Peter aim to secure full control by exercising their $4 million option to buy out the patent holder.
To meet demands, they’ve placed significant orders to meet growing demand, with plans to purchase 80 units in 2022, 100 in 2023, and 120 in 2024.
Despite their efforts, most of the sharks declined to invest due to concerns about profitability and scalability. However, guest shark Daniel Lubetzky and Lori Greiner expressed interest.
After some negotiation, they offered $250,000 for 35% equity. Stuart and Peter countered with 15% equity, but Daniel and Lori stood firm.
To sweeten the deal, Daniel added a $500,000 line of credit to the $250,000 investment. The brothers accepted the offer, securing a partnership with two experienced investors.
With a deal from Daniel and Lori, what happened next for the company? Keep reading our Bleni Blends update to find out.
Shark Tank Bleni Blends Update
Our Bleni Blends update found that the deal with Lori and Daniel didn’t close.
As of May 2023, Bleni Blends had 58 smoothie kiosks operating across the USA and Canada.
The company also launched a pilot program with Walmart in Denver, testing a “robo cafe” concept. If successful, this partnership could scale Bleni Blends kiosks to Walmart locations nationwide.
In December 2023, Bleni Blends introduced a 10-gram protein boost option to their smoothies.
By August 2024, the company expanded to 78 locations.
Notably, the company has seen significant progress, as its annual revenue increased from $275,000 in 2021 to approximately $1 million in 2024.
Further, at the time of writing, the company’s net worth was estimated at $3 million.
Despite the deal falling through, the entrepreneurs still managed to scale their business. We can’t wait for our next Bleni Blends update.
Do you want to learn about the other companies featured in Season 14 Episode 18? Follow the links below for our other company updates from the episode.
Before you go, be sure to check out our list of all the Shark Tank Season 14 products.
Jeremy is a regular contributor at Shark Tank recap. He has a ton of passion for the show and enjoys researching information about what all the companies are up to now. His favorite Shark Tank companies are The Cookie Dough Cafe and Kronos Golf!