Quick meals for busy people are rarely nutritious, but entrepreneurs Christopher and Jennifer Jane aim to change that with their healthy venture. Proper Good is a mail-order food company that sells simple, easy meals that are good for your body. Does their
If you’re short on time, here’s a quick overview of what happened to Proper Good after
Christopher and Jennifer Jane appeared on
|Accepted deal for $400,000 for 20% equity
|Peter Jones CBE
Shark Tank Proper Good Update
- Entrepreneurs: Christopher and Jennifer Jane
- Business: Meal order service with natural, healthy soups
- Ask: $400,000 for 10% equity
- Result: $400,000 for 20% equity
- Shark: Mark Cuban
Sibling team Christopher and Jennifer Jane wanted to create quick, easy meals for busy people. Their mail-order food service, Proper Good, offers inexpensive meals that can be heated in the microwave or eaten cold, and all of them are good for you.
There are a host of soups and chilis, including vegan options, and each meal costs about $5.99 on their subscription service, which makes a box of 12 about $72.
The sharks love the taste of the soups, and Peter Jones in particular is enchanted by the siblings’ pitch. They reveal that in their first calendar year, starting in April 2020, they’ve made about $556,000 in sales.
Only about halfway through their second year, they’ve already done $1 million in sales, all direct-to-consumer.
The sharks are impressed by these numbers and Lori Greiner asks how they market. Christoper and Jennifer share that they are the only company offering premium meals that are shelf-stable for up to eight months.
Daymond John loves the idea and the packaging, but he isn’t passionate about soups, so he drops out. Lori drops out next, stating that the entrepreneurs are onto something but it’s too early for her to invest.
Peter Jones asks how much profit the company is making considering their sales. The entrepreneurs reveal that they are losing about $80,000 a month and aren’t profitable yet. Customer acquisition costs them a lot, and Peter seems unhappy about the loss.
Kevin O’Leary also thinks that the business isn’t advanced enough to be investable. The high growth rate isn’t enough to cover the losses at customer acquisition. He drops out because the model isn’t there yet.
Peter has been in this market before, and he knows how badly customer acquisition burns money. Founders and investors often get diluted through this deal, and Peter is out for this reason.
Mark Cuban is the only shark left. He asks the entrepreneurs if they’d be willing to change their marketing and packaging because he knows how to help them.
They agree, so he makes an offer: $400,000 for 25% equity. They like the idea that Mark would change things, and counter at 20%, which Mark accepts.
Was this a good deal for Mark? Find out in our Proper Good update.
Even before entering the
They now offer ready-made oatmeal in addition to their lines of soups and chilis. Their meal subscription service is still going strong on the Proper Good website, and they’ve grown a social presence with more than 26,000 Instagram followers.
The most recent Proper Good update brings them into the world of retail. They’ve placed products on the shelves of more than 2,000 Walmart locations thanks to $3.5 million in seed funding from investors including YETI Capital and The Artisan Group.
With strong growth and a quality product, we’re sure the next Proper Good update will include a healthy dose of positive news.
Before you go, be sure to check out updates from the other companies featured on
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Andrew Smith is the founder and owner of Shark Tank Recap. He is a longtime Shark Tank fan that has been watching it for years and has seen every episode multiple times. His friends know him as the Shark Tank expert, because he can answer any question about the show! His favorite Shark Tank products are Bertello's pizza oven and Bug Bite Thing!