My Fruity Faces – Edible Stickers
NO DEAL
EPISODE SUMMARY
đź•“ Air Date: April 29, 2016
Asking For:
$200,000 for 10%
Investor:
No Deal
Deal:
No Deal
PRODUCT SUMMARY
My Fruity Faces has created all-natural, edible stickers to make eating fresh fruits and vegetables fun for kids.
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Background Story
Bob Ntoya and Adam Gerber, founders of My Fruity Faces, reside in Altadena, California. The inspiration behind their product came from the struggle parents face in getting their children to eat healthier snacks. Like many parents, they invested time and effort in planning and preparing nutritious snacks, only to find them wasted. Determined to tackle this issue, they developed My Fruity Faces, edible stickers infused with magical ingredients and fruity science to make consuming fresh produce exciting for kids.
The founders emphasized the challenge of dealing with rejected healthy snacks when kids returned home. This frustration prompted them to create a solution that would not only encourage kids to eat fruits and vegetables but also make the experience enjoyable. My Fruity Faces was the result of their innovation—a product designed to turn snack time into a delightful and healthy experience for children.
The Product
My Fruity Faces offers all-natural, safe, edible stickers made from tapioca starch. The stickers feature licensed characters, such as Nickelodeon characters, adding an extra element of excitement for kids. The application is simple—peel the sticker, stick it to fresh fruits or vegetables, and enjoy.
The founders demonstrated the product on the show, highlighting its tapioca starch composition. The stickers were designed to make healthy eating fun, and the founders believed in the potential of licensing deals to boost sales. My Fruity Faces had secured a contract with Walmart and expressed ongoing discussions with other major retailers like Target, SuperValu, and Whole Foods.
How It Went
The company’s position before Shark Tank
The founders revealed that they had achieved $125,000 in sales over the first three years, with recent monthly sales of $2,000. The highlight was landing a deal with Walmart, where they were set to roll out their product in 3,600 stores. The company had invested approximately $482,000, with $177,000 in debt. The founders mentioned a partnership with Dole and their intention to renew licensing agreements.
The Negotiations:
Despite the promising aspects of the product, the Sharks were skeptical due to the relatively low sales figures and the founders’ financial situation. Kevin O’Leary expressed concern about the company’s substantial investment and debt, ultimately leading to him opting out. Mark Cuban, Daymond John, and Chris Sacca were also unconvinced and chose not to invest. Lori Greiner and Barbara Corcoran were critical of the company’s sales performance, and Corcoran ultimately decided to pass.
The founders defended their position, highlighting their distribution contracts and licensing agreements. However, the Sharks remained unconvinced, and the pitch concluded with no deal. In summary, the Sharks were hesitant to invest in My Fruity Faces due to concerns about the company’s financial health, sales performance, and the execution of their business strategy. Despite the founders’ confidence in their product and partnerships, they left the Tank without securing a deal.
