A dash of BBQ and marinara sauces elevates any dish to a whole new level, doesn’t it?
And who does not like a good old bottle of BBQ sauce jam-packed with that delicious sourness and sweetness?
Lulu Bang is here to satiate your sauce-infested taste buds with their wide variety of sauces that are sure to make any dish worth eating again and again.
Lulu Bang at a Glance:
| Idea | A brand manufacturing a range of different BBQ and Marinade sauces. |
| Founders | Jorrae, Kelly, and Ashley Beard |
| Asked For | $150,000 for 10% |
| Accepted Deal | No Deal |
| Sharks | None |
| Business status | In Business |
| Episode No. | Season 8, Episode 6 |
Index:
What is Lulu Bang?
Lulu Bang is a company that specializes in the manufacture of packaged sauces. It is a business built on the homemade recipes of barbeque and marinara sauces.
The company claims that its sauces are crafted to be a constant side dish for all your dishes be it fish, chicken or beef, pasta, rice, or salads.
The two sisters have created a business on capturing the ever-growing sauce market of the U.S.A. with their specialized lines in barbeque and marinara sauces along with various varieties of other essential lines of sauces.
Founder Story:
The business venture took off when one of the Beard sisters, Jorrae got exhausted from repeating the same sauces over and over again and yet could not find any sauce recipe that could satiate her taste buds and at the same time not be monotonous in taste.
To solve the problem she decided to create a sauce with a dash of her personality.
Along with her elder sister, Kelly Beard, the two sisters created just the right combination of herbs and spices that aimed at revolutionizing the way people perceive sauces around the world.
Did Lulu Bang get a deal on Shark Tank?
Lulu Bang founders entered the Shark Tank with a literal bang with their tagline “We Bang EveryTHANG”, leaving all the sharks blushing at their suggestive pitch.
They came with a demand of $150,000 for 10% equity in the company, valuing it at $1.5 million. They also told about their tie-up in retail with WalMart.
After their pitch, the sharks contemplated their lack of sales and massive marketing problem, even when they were available in 170 stores of WalMart.
The steep valuation did not bother the sharks much, in fact, they thought that given their marketing problems, even these funds will be less to cover it.
After a lot of discussions, the sharks decided that the efforts required to take the product off the shelves will definitely not be worth the investment of time and money made.
Hence, the Beard sisters had to return empty-handed from the show.
What happened to Lulu Bang after Shark Tank?
After the episode aired, there was so much craze around the sauce brand that they sold around $60,000 worth of sauces which was even more than what they did in the past three months!
The company expanded its retail selling market by being available in more than 170 Walmart stores across the country and also Shop Rite locations in two states. They also continue selling through their official website.
Product Details:
- The company deals with the manufacturing of packaged sauces.
- It consists of 4 main flavors in its archaic.
- The “Asian Persuasion” flavor is a derivative of the original BBQ sauce but inspired by the flavor of wasabi, soy, ginger, and grapefruit concentrate.
- The “Bourbon Marinade” flavor is made from a base of BBQ sauce along with a dash of heat-reduced Bourbon.
- The “It’s Just Hot” flavor is a perfect blend of spice and savory made from a base of BBQ sauce along with spice induced from various peppers.
- The “Lulu Bang BBQ Fusion” flavor is the OG sauce made from tomato concentrate and a ton of other ingredients that add sparkle to every dish you eat.
What is the Net Worth of Lulu Bang?
On the stage of Shark Tank, the founders valued their company at around $1.5 million but could not secure any deal from it due to the large amount of cash flow and credit required for the business.
The company has remained operational even after the pitch on Shark Tank and hence, the valuation of the company might have increased beyond the previous valuation. Exact data on the company’s valuation is unavailable.
Who are the main competitors of Lulu Bang?
Lulu Bang is one of the many companies making BBQ and Marinara sauces while competing closely with companies like Kentucky Pride Barbeque Sauce, TJ’s Sweet’N Hot, and Tzavos Tsavo BBQ sauce.
Is Lulu Bang still in business?
Yes, Lulu Bang is still in business.
The company continues to stay afloat after the episode aired on Shark Tank and has managed to be operational even without sealing a deal in the Tank.
Social Links:
Do Share Your Thoughts:
Do tell us all your thoughts in the comments section below, we look forward to reading all the comments in the section below.
Also, don’t forget to try our Android app 📱 which contains startup case studies and business book insights 📚 , verified business strategies, and no bullshit!!
Related Articles:
FAQs:
What is Lulu bang?
A brand manufacturing a range of different BBQ and Marinade sauces. Lulu Bang is a company that specializes in the manufacture of packaged sauces. It is a business built on the homemade recipes of barbeque and marinara sauces.
What's the net worth of Lulu bang?
On the stage of Shark Tank, the founders valued their company at around $1.5 million but could not secure any deal from it due to the large amount of cash flow and credit required for the business.