Having a superior product backed by a solid track record is essential for success on “Shark Tank,” but a compelling backstory can also make a difference.
Jackson’s Honest ticks all the boxes for offering a top-notch product. Their chips are crafted from a blend of ingredients including organic corn, non-GMO potatoes, and coconut oil for frying, making them arguably the healthiest option in the market.
Furthermore, their success speaks volumes. With over $1 million in sales within the first year and reaching $10 million by 2017, their track record is impressive.
However, what truly sets Jackson’s Honest apart is its poignant narrative. The company’s origin story revolves around Jackson Reamer, who, afflicted by Aicardi-Goutières syndrome, experienced a remarkable turnaround when introduced to a diet rich in beneficial fats. His journey inspired the founding of the family business.
Though Jackson’s battle with illness tragically ended in 2017, his legacy lives on through the company.
Jackson’s Honest at a Glance:-
| Idea | Sweet potato chips cooked in coconut oil |
| Founders | Scott and Megan Reamer |
| Asked For | $1,250,000 for 5% equity |
| Accepted Deal | $1,250,000 for 15% equity |
| Sharks | Rohan Oza |
| Business status | In Business |
| Episode No. | Season 9 |
| Buy on Amazon | Buy Now! |
Index:
Founder Story:
Even before their appearance on “Shark Tank,” the Reamers were already a recognizable name. Their journey began in 2012 when they established their business, driven by the years spent creating snacks at home for their son, Jackson Reamer.
At the tender age of three, Jackson faced a medical crisis, shedding 17 pounds, as reported by CNBC. Despite doctors’ bafflement, the Reamers embarked on a quest to find nourishment that could alleviate his digestive woes. Their exploration led them to ketogenic diets, rich in healthy fats, low in carbs, and anti-inflammatory—a dietary revelation validated when Jackson’s rare autoimmune condition, Aicardi-Goutières syndrome, was finally diagnosed.
Word of the Reamers’ nutritious and distinctive snacks spread swiftly among friends and family, prompting suggestions to share their creations with a wider audience. Timing was auspicious, as the market for keto foods eagerly awaited such offerings. The Reamers’ innovative marketing, spotlighting “better-for-you” oils and snacks crafted from heritage potatoes, struck a chord.
Moreover, the Reamers recognized their unique ability to extend a helping hand to families like theirs, grappling with dietary challenges. Inspired by Jackson’s journey, they initially ventured into online sales of coconut oil and sea salt chips, later expanding to brick-and-mortar retailers such as Whole Foods, Sprouts, and Natural Grocers.
Did Jackson’s Honest get a deal on Shark Tank?
The sharks, particularly Robert Herjavec, were immediately captivated by the product and its mission, with Robert expressing a deeply personal connection that moved the room to tears.
However, the sharks identified a significant hurdle: the venture had yet to turn a profit. Despite their admiration for the project, this financial challenge gave them pause.
Robert opted out of the investment due to perceived riskiness, while Lori Grenier, known for her preference for baked chips, didn’t see alignment with her portfolio. Mark Cuban withdrew his interest due to concerns about the speed of potential returns.
Though Barbara Corcoran appreciated the passion behind the business, she wasn’t keen on investing in the supermarket industry.
Enter guest shark Rohan Oza, who made a bold offer of $1,250,000 for a 20% stake, believing he could bring substantial value to the table.
In a negotiation dance, Scott countered with a proposal of $1,250,000 for a 7.5% share. After some back-and-forth, Rohan adjusted his offer to $1,250,000 for a 17.5% stake.
Scott, still seeking a better deal, reduced his equity offer to 10%, maintaining the same investment amount. Rohan responded with a final bid of $1,250,000 for a 15% share.
Ultimately, the Reamers accepted Rohan’s offer, and a deal was struck between them, solidifying their partnership through a signed contract.
What happened to Jackson’s Honest after Shark Tank?
Following their appearance on “Shark Tank,” the company underwent significant transformations. They rebranded as “Jackson’s,” overhauled their chip bag designs, and shifted their focus away from white potato and corn chips towards a diverse range of sweet potato chips.
In Wisconsin, they constructed their own production facility, a substantial upgrade that now churns out an impressive 110 bags of chips per minute, far surpassing their previous capacity.
Expanding their offerings, Jackson’s now includes avocado oil chips alongside their signature sweet potato chips, which are flavored with coconut oil.
Their flavor repertoire has also expanded to include Farmhouse Ranch, Habanero Nacho, Carolina BBQ, and Spicy Salsa Verde, catering to a wider range of tastes.
With the removal of “Honest” from their name, customers seeking updates on the brand must now search specifically for “Jackson’s.”
Furthermore, they revamped their packaging, placing a stronger emphasis on their brand of sweet potato chips.
As of now, Jackson’s reports an annual revenue exceeding $6,000,000, marking their continued growth and success in the market.
What’s the net worth of Jackson’s Honest?
Jackson’s Honest entered the Shark Tank with a valuation exceeding $25 million, according to the founder’s assessment. However, following negotiations with the sharks, their estimated net worth was adjusted to $8.3 million, reflective of the potential and demand for their unique gluten-free chips.
Since their appearance on the show, Jackson’s Honest has experienced a remarkable surge in annual earnings, driven by soaring sales. Presently, their products are stocked in over 7,000 stores across the nation.
This steady growth trajectory underscores the enduring appeal and triumph of Jackson’s Honest, as they continue to expand and thrive in the market with their wholesome and delectable chips.
Is Jackson’s Honest still in business?
Indeed, Jackson’s Honest is still operational.
The company revamped and ended production of its grain-free puffs in 2018. It also began importing Japanese sweet potato chips.
Jackson’s Honest started supplying its goods to several food service venues a year later. The business was present in every Whole Foods store and is still expanding.
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.
Dive into our đź“ť quizzes on startups, business, and Shark Tank! Test your knowledge and unleash your inner entrepreneur. Let’s go! 🚀🚀🚀
Related Articles:
FAQs:
What is Jackson's Honest?
Jackson’s Honest ticks all the boxes for offering a top-notch product. Their chips are crafted from a blend of ingredients including organic corn, non-GMO potatoes, and coconut oil for frying, making them arguably the healthiest option in the market.
What's the net worth of Jackson's Honest?
Jackson’s Honest entered the Shark Tank with a valuation exceeding $25 million, according to the founder’s assessment. However, following negotiations with the sharks, their estimated net worth was adjusted to $8.3 million, reflective of the potential and demand for their unique gluten-free chips.