|SEASON 10 EPISODE 4|
|Pitch||keto meal replacement shake, dessert and snack|
|Entrepreneur||Billie Cavallaro and Holly Heath|
|Asked For||$250,000 for 10%|
|Deal||$250,000 for 20%|
Nothing interests a Keto dieter like an excellent shake to satisfy their cravings. Cave Shake founders thought of a sweetly flavored shake though dairy-free, carb-free and gluten-free and decided on coming up with their shake. Though the duo did not walk out of the televised program with the deal they hoped for; they still got a deal.
The Cave Shake Story
Long term friends Hollie and Billie wanted to give Keto diets some spicing. They decided to come up with sweet shakes to satisfy cravings while cutting on dairy, carbs, sugar and gluten. This ready to drink Keto shake can be consumed as a dessert, snack or meal replacement for anyone on a Paleo or Keto diet.
What was their inspiration? Billie was once a hard-core sports person (a Ski-racer) and would always depend on a Keto diet for inflammations. On the other hand, Billie admitted to having found solace in a Keto lifestyle to heal her body after she got involved in an accident.
Their product Cave Shake retailed at $7.99 per jar; though the diet shakes sold only in California, efforts to spread to retail in different locations were underway. The company also partnered with LA Libations, an incubator affiliated with Coca Cola, offering a 15% stake for the partnership.
Though the founders of Cave Shake came to Shark Tank looking for $250,000 for a 10% equity, Shark Barkley makes a deal with Hollie and Billie and agrees on investing $250,000 for a 20% equity. He also affirms his deal was worth it because he has issues with his weight. Though the founders strive for a 14% equity, Barkley registers his frustration with them because of the 15% deal given to Coca-Cola for free while providing the company financial investment.
Cave Shake After Shark Tank
Cave shake has grown to become one of Shark Tank’s success stories, though under a new name (Space Shake). After the publicity on Shark Tank, demand for the Keto diet went high in California. Working with their partner LA Libations, the owners strive to expand their borders beyond Southern California, aiming at building an infrastructure for scaling. Though the product is currently only retailing in Southern California, Cave Shake is available on Amazon, which delivers the product to any part of the world. The duo’s product earned them $270,000 in 2017 with a year to year sales of $182,000.
Cave Shake has gone through tremendous change since it got aired on season 10’s episode 4 of Shark Tank. It changed from Cave Shake to Space Shake as a condition after the owners’ deal with Shark Barkley. Cave Shake also ditched their strawberry flavor, changed the jar’s packaging to a pouch, and reduced the served calories to encourage its consumption as a snack and not a meal replacement.
On social media, Cave Shake has a score of 2.6 out of 5 and a minimal engagement on Instagram though it boasts of 21,000 followers. Additionally, the positive reviews on Amazon are limited. Once the company has a fair distribution, it will have to strive hard to make it through the crowded market by coming up with unique ways to distinguish the Keto diet from its competitors.