Element Bars Custom Energy Bars Update | Shark Tank Season 1

Jonathan Miller was dissatisfied with mass-produced energy bars, which led to energy crashes due to high fructose corn syrup. The lack of suitable options in the market drove him to develop his own recipes high in protein and fiber and low in sugars and saturated fats. Seeking to expand his business, Jonathan appeared on Shark Tank. Let’s dive into our Element Bars update and pitch recap to see which shark was interested in making a deal.

If you’re short on time, here’s a quick overview of what happened to Element Bars after Shark Tank.

Jonathan entered Shark Tank Season 1 to pitch Element Bars, seeking $150,000 for 15% equity. After his pitch, he made a deal with Kevin Harrington for $150,000 for 30% equity + 4% royalty in perpetuity.

In terms of an Element Bars update, the company received an update segment in Season 4, where it revealed its growth by announcing its move into a dedicated production facility. They have also grown to achieve annual sales of $1 million.

Shark	Result
Kevin Harrington	Accepted offer of $150,000 for 30% equity + 4% royalty in perpetuity
Daymond John	$150,000 for 75% equity
Robert Herjavec	No offer
Barbara Corcoran	No offer
Kevin O’Leary	No offer

Shark Tank Element Bars Pitch

• Entrepreneur: Jonathan Miller 
• Business: Custom energy bars
• Ask: $150,000 for 15% equity
• Result: $150,000 for 30% equity + 4% royalty in perpetuity
• Shark: Kevin Harrington

Jonathan stepped into Shark Tank with a bold vision to dominate the energy bar market, frustrated with the sugar-laden options available.

He sought an investment to expand operations and meet the growing demand for his product, Element Bars.

Element Bars is a platform that allows consumers to create and order personalized energy bars online, which are then delivered directly to their doorsteps.

Users can select ingredients such as nuts, fruits, and sweeteners to tailor their bars to their dietary preferences. 

The platform offers various base textures and allows users to control calorie intake and add nutritional supplements.

Element Bars emphasize fresh, all-natural ingredients and avoid artificial additives commonly found in mass-produced energy bars.

The target market includes health-conscious consumers seeking greater control over their nutrition and those with dietary restrictions.

The company holds certifications for organic ingredients and adheres to FDA regulations.

At the time of the pitch, Jonathan was shipping approximately 1,000 bars per week. Kevin O’Leary questioned Jonathan’s $1 million valuation.

Jonathan explained that Element Bars was on track to sell 44,000 bars that year, doubling its sales in the six months prior to its episode airing.

Further, the company has generated a total revenue of $62,000 since launching about a year earlier.

Despite liking Jonathan, Kevin O’Leary dropped out due to valuation issues.

Barbara Corcoran felt the risks were too significant and also bowed out.

Daymond John offered $150,000 for 75% equity, while Kevin Harrington wanted to buy the whole business, offering $150,000 for 100% equity and a 4% royalty in perpetuity.

Jonathan countered Daymond with 20% equity, causing Daymond to drop out. 

Robert Herjavec followed, saying Jonathan was a great salesman but not a great businessman.

Jonathan rejected Kevin H.’s initial offer, so he countered with $150,000 for 35% equity and a 4% royalty.

Jonathan countered again with 25% equity, and they eventually settled on 30% equity.

Let’s quickly get an Element Bars update after Jonathan’s appearance on Shark Tank.

Shark Tank Element Bars Update

Our research on the Element Bars update found that the deal with Kevin Harrington did not close.

However, Element Bars was featured in a follow-up segment in Season 4, where Jonathan revealed that he has moved into his own production facility and ramped up its production pace.

Right before the update segment aired, Element Bars shipped its one-millionth bar, showing impressive growth.

In July 2021, our Element Bars update found that the company pivoted from direct-to-consumer sales to co-packing, offering private-label bar creation for brands and entrepreneurs.

At the time of writing, the company has grown to $1 million in annual revenue.

You can learn more about energy bar customization on the Element Bars website.

We’re calling this Element Bars update a success!

Would you like to learn about the other companies featured on Season 1 Episode 6? Follow the links below for our other company updates from the episode.

• The Fizz Update
• Underease Underwear Update
• Kalyx Technologies Update
• Pork Barrel BBQ Update

Before you go, check out our Shark Tank Season 1 page for more updates.