Soupergirl Update

Seasono 10
soupergirl shark tank

Season 10 Episode 3

PITCH

nutritious, vegan, kosher soup meals

ENTREPRENEUR

Sarah Polon and Marilyn Polon

ASKED FOR:

$500,000 for 10% ($5M)

GOT

NO DEAL

SHARK

NO SHARK

The mom and daughter souper team began their soup dreams in 2008 as a small local business and haven’t stopped since.

Today, Soupergirl can be found in nearly 50 locations throughout Maryland.

Soupergirl soups are 100% plant-based, dairy-free and certified kosher.

The soups are low in sodium and have none of the preservatives and unnecessary ingredients found in your typical off the shelf soup.

They are also free of peanuts and gluten. Some of the soups may contain organic coconut milk (which some may consider a tree nut).

Their passion for sharing natural, nutritious, freshly cooked soups full of fresh, local produce has brought them millions in sales with over $1.4 million in 2016 and $2.4 million in 2017.

Shark Tank

Despite impressive sales, the Sharks are wary about investing.

The Polons share their plan to take their Souper Meals program nationwide.

The Souper Meals program delivers soup as part of a 2-day or 5-day soup plan.

Souper Meals are delivered twice a week but are currently only available to those living up and down the East Coast and as far southwest as Central Texas.

They’ve already made $900,000 from the program so far.

But the ladies also reveal they are only making a 5% profit margin overall. And with $640,000 in debt, the Polons aren’t making their case any stronger.

They are very dedicated to the quality of their soups and have chosen to stay away from using copackers as they claim most copackers are of low quality.

With the $500,000 investment, they hope to use $400,000 to purchase equipment to optimize their operations and $100,000 towards online marketing and web development.

Mark believes they are in danger of going out of business. He states that perfection is the enemy of profitability, before going out.

Kevin believes the model is broken and thinks the business is only worth about $100,000 – drastically lower than the $5 million valuation they came into the tank with. He too goes out.

After doing the math, Daymond realizes they would have to do $100 million in sales just for him to get back his $500,000 investment, and he goes out.

Lori isn’t a fan of their low profit margins goes out. Guest Shark Matt Higgins also goes out as the Soupergirls leave the tank without a deal.

Soupergirl Reviews

The company has a 4-star rating on Yelp with pretty good reviews. After a decade in business and a revenue of nearly $4 million in the last two years, there is no doubt that Soupergirl will be around for a while.