Kristen and William Schumacher entered
Shark Tank Uprising Food Update
- Entrepreneur: Kristen and William Schumacher
- Business: Bread and chips packed with superfoods
- Ask: $500,000 for 3% equity
- Result: No deal
- Shark: None
Uprising Food is a brand on a mission, to allow Americans to enjoy bread without eating unhealthy. Its bread is packed with all sorts of superfoods, is keto and paleo-friendly, and is made without dairy or gluten. After being tasted by the sharks, they all agreed that it tastes really good for how healthy it claims to be and are even more impressed that it can last a few weeks in the fridge.
However, things take a quick turn when Kristen and William share that a half loaf of bread costs $12 on their website, and after shipping, they only make $3. Even worse, it’s costing them $50 to acquire a customer, meaning that they’ll need to sell a lot of bread to each customer before they can turn a profit.
Despite this, in 2020 Uprising Food did just under $1 million in sales and in the first six months of 2021, they’ve sold $2.1 million worth of bread and chips. However, even with great sales, the company is not cash flow positive and lost $1 million in the last 12 months.
William shared that they don’t expect to turn a profit in the near future and that their ultimate goal is to sell off the business to a bigger brand or take the company public. Mixed with the high valuation and the fact that they won’t turn a profit anytime soon, all of the sharks went out. However, Mark Cuban did offer some advice, sharing that they should focus on turning a profit before they acquire more customers.
Even though William and Kristen didn’t land a deal on
Further, with the popularity of
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