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Keisha Jeremie, owner of Sanaia Applesauce came into The Shark Tank hoping to secure a deal of $150,000 for a 15% share of the company. Sanaia is aiming to shake up the applesauce market in the same way that the yogurt industry has recently been. Keisha presents a strong case as to how the applesauce market favors young children or the elderly community.
Sanaia Applesauce is made with organic green apples and baked into 6 different flavors. This “grown-up” version of applesauce is a perfect snack for adults. The company has been paid for by Keisha out of her private account. She has been very cautious and smart about her financial spends so she has really stretched her dollar and learned a lot about this industry and the opportunity that is out there.
The company recently did a 6 month test pilot which generated approximately $40,000 and proved that there is a market for this product. The product is packaged in two ways. One version is manufactured in a glass jar so that it can be safely shipped via Amazon. The other design looks similar to a plastic yogurt cup. Keisha understands that she has two main hurdles ahead of her: trying to create a market of adults who love applesauce and being frugal and stretching every dollar.
Recently Sanaia attended a trade show and while they had a few large companies express interest, The Sharks caution her to remember that orders and interest are not the same things and she will need to be continually working to convert that interest into real orders.
When the time came to offer or pass, Barbara asks for a very Sharkey deal . She is willing to invest $150,000 for at least 75% of the company. Keisha declines her offer. Mark Cuban also makes Sanaia an offer for 25% equity for $150,000. He said his team can provide what she needs to make contacts in the grocery market and to scale up business operations.
Social media was buzzing for Sanaia:
This apple sauce pitch is brilliant. She’s 100% correct, tere is a whole market out there that is being ignored. #SharkTank
— Novafan23 (@Novafan23) October 15, 2018
ttps://twitter.com/RyanBartholomee/status/1051650282772463617
This woman should be seated with the Sharks #sharktank
— Alan Meyerson (@Movietime77) October 15, 2018
75%? @BarbaraCorcoran ! Come on! You’re the foods person. I would get this instead of yogurt for lunch. #Sharktank
— Aslan Claire (@Lionwoman54) October 15, 2018
I’d definitely pick up #SanaiaAppleSauce at the store. But for this deal to be worthwhile for me, I’m going to need a big bite. #SharkTank @ABCSharkTank
— Barbara Corcoran (@BarbaraCorcoran) October 15, 2018
ttps://twitter.com/veeh1/status/1051652266489520128
They can bring costs down significantly due to scale. Always tough to launch a premium product with lack of scale. Tough, but not impossible #sharktank
— Irene Marie Plavcic (@ireneplavcic) October 15, 2018
Shouting from the rooftops: I have been dying for a grown woman applesauce and the sharks are missing out. #SharkTank
— Kris (@swkkristen) October 15, 2018
What are your thoughts on Sanaia applesauce? Would you purchase this product? Sound off in the comments below!
For more information about Sanaia’s deal with Lori Greiner or to review key business take-a-ways, from Shark Tank, check out this summation of the Shark Tank episode featuring Sanaia applesauce. Shark Tank airs on Sundays at 9pm EST on ABC.