Did your mother ever create a recipe from scratch? Now it’s your chance to whip up an energy bar from scratch, just by answering some questions on their website. You can create your very own scrumptious energy bar. Introducing Element bars that allow you to experiment with your next energy bar recipe and send the delicious energy-packed output to your door.
If you are out of ideas you must go for their tried and tested recipes. That will bring a smile to your faces all the same. The co-founder and owner of this experimental idea are the one and only Jonathan Miller that built the company with a passion like no other.
Element bars at a glance:
|Season 1 Episode 6
|Customizable Energy Bars Where Customers Choose The Ingredients
|$150,000 For 15%
|$150,000 For 30% + 4% Royalty And Rights To License Product
Who is the founder of Element bars?
Jonathan Miller started the scrumptious journey by opening an energy bar and reading the contents inside. To his displeasure, he didn’t want to put the bar in his mouth as he didn’t know most of the contents inside. This led to the creation and experimentation of personalized bars in the sanity of his own kitchen. This was the company born from then on.
His passion for creating customized bars in his own kitchen opened the doors for him to his own company, which today allows the same pleasure to its customers with its own website.
Today the company is divided into three rooms with two purposes to drive your recipes on the journey of success. Room no. 3 houses the small-batch processing. While the other two-room house the bulk production lines for the bars. In terms of ideas till now they have worked with 10,000 recipe successes in the last thirteen years. Now let’s see where they are!!
Did Element bars get a deal on Shark Tank?
The shark tank was taken by surprise when they found out about Jonathan’s idea of customized energy bars. All the sharks wanted a big bite in his business. The deal was short and snacky. He first impressed the sharks with his bars that he brought as samples and later astounded them with his negotiating skills. Jonathan came into the tank seeking $150,000 for 15% of his thought-provoking business.
The deal started by him introducing his business, talking about sales figures, and distributing customized bars to the sharks. Then Daymond asked $150,000 for 75% of the company. Next is Kevin Harrington asks for $150,000 for 100% of the business with an additional bonus of 4% royalty. But both these offers are declined. Instantaneously Kevin Harrington changes his offer to 30% of the business and the deal is accepted.
What happened to Element bars after shark tank?
As the deal was closed in the first season with Kevin Harrington helped to grow the business in small steps with the help of a production facility that produces huge quantities of bars every day. Their sales grew from the day of the deal and never took the name of slowing down. As of July 2021, the organization is still in business. This organization has built itself by becoming a co-packer. Providing a private label on the packet is what they do now.
Competitor’s analysis of Element bars:
Some of their competitors are:
- Abbot laboratories company
- Crowbar protein
- Merisant company
- My green mattress
- You Bar
Interesting Facts of Element bars :
- Jonathan miller loves to spend time with the customers and talk about recipes. He spends most of his time doing the same.
- In 2012 the company produced 1 million bars in a day.
- The company works wonders with just 27 employees for all locations.
- Started the company with 10,000 bars sold in retail stores and online.
What is Element bars worth?
The company is profitable and keeps on creating new recipes with the ever-growing customers they have grown with. They today stand at a revenue of $1.5 million and still have scope for more ideas and inputs from their startups and entrepreneurs they have tried to help along the way. The company is going for its dream project one bite at a time.
At the time of the shark tank appearance, Element bar was valued at around $500,000.
Is Element bars still in business?
The future aspects of this company were filled with new challenges as the doors to the business opened. Today having succeeded at halfway. The founder is happy to stand where he is and urges new customers to expand his business for him. From the kitchen where he started in his humble abode, the founder is proud to thank his customers for bringing them so far and helping them even further by knowing what they do best and leaving the creativity to the customers one bar at a time!!
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What is Element bars?
A website that allows you to experiment with your next energy bar recipe and send the delicious energy-packed output to your door.
Who founded Element bars?
Jonathan Miller is the founder and CEO of Element bars.
Did Element bars get a deal on shark tank?
Yes, Element Bars got a deal with Kevin Harrington.