Element Bars Custom Energy Bars Update | Shark Tank Season 1

Most energy bars are chalky and unpleasant to eat. That’s why Jonathan Miller has come up with a company that customizes energy bars for customers, offering better ingredients. Will his company earn a deal on Shark Tank Season 1? Find out in our Element Bars update! 

Shark Tank Element Bars Update

Element Bars update

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

Jonathan’s company Element Bars makes custom energy bars. Customers visit the company’s website, select from whole, natural ingredients, and customize everything down to the label. He passed out samples that he made special for each shark.

Kevin O’Leary wanted to know why Jonathan valued his company at an implied valuation of $1 million. Jonathan told the sharks that Element Bars is on pace to sell 44,000 bars in that year, doubling its sales in the 6 months prior to filming.

Element Bars had grossed $62,000 in total revenue since launching about a year earlier. Kevin really liked this particular entrepreneur, but issues with the valuation caused him to drop out.

Barbara Corcoran felt that the risks were too significant, so she decided to drop out too. Daymond John offered $150,000  for 75% equity.

Kevin Harrington wanted to buy the whole business, offering $150,000 for 100% equity, and said he would give a 4% royalty in perpetuity to Jonathan.

Jonathan countered Daymond at 20%, causing Daymond to drop out. Robert Herjavec decided to drop out next, saying Jonathan was a great salesman but not a great businessman.

Jonathan was not willing to accept Kevin’s offer, so Kevin countered with $150,000 for 35% equity, and a 4% royalty to Jonathan. He countered Kevin back with 25% equity. Eventually, Kevin agreed to 30% equity and Jonathan accepted his offer.

What happened next for his company? Keep reading our Element Bars update to find out!

In our Element Bars update research, we found that the deal with Kevin never closed. However, the company is still in business and the bars are now co-packed for white labeling rather than sold directly to customers.

This means that companies can put their logo and branding on the bars instead of having to create their own. If we get more news on an Element Bars update we will let you know.

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

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.

For even more on companies and products, be sure to stop by our Season 1 Products Page!

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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!