Sap!, a Vermont based beverage company appeared on ABC’s Shark Tank this Sunday hoping to convince any of the world’s top five titans of industry to invest in their product. The company’s co-founders Chas P. Smith and Nikita Salmon filmed the episode last Fall in Los Angeles and navigated the notoriously tough “Tank” and the panel of Sharks consisting of Mark Cuban, Robert Herjavec, Barbara Corcoran, Lori Greiner, and Rohan Oza.
Smith and Salmon pitched the wealthy investors on a healthy beverage company sourced straight from their family farm and network of quality Vermont producers.
The thirsty “sharks” seemed excited to crack open such an intriguing product.
“Don’t be a sap, try Sap,” said Oza, an American businessman, investor, and well-known marketing expert.
After a sparkling round of sampling, the “sharks” wanted to learn more about the low-calorie, flavor-filled maple and birch syrup made in Vermont products.
The business partners explained maple naturally has 46 vitamins, minerals and nutrients, birch even more, making it a healthier drink option than your run-of-the-mill carbonated beverage. After crunching some numbers, both sides were ready to talk deals.
The partners offered a 12 percent stake in their company for $600,000. Herjavec, a successful tech entrepreneur, offered $600,000 for a 30 percent stake. Salmon and Smith countered with 20 percent, but Herjavec passed.
In the end, the Sap co-founders walked away with some great ways to improve their business model and simply their message. They look forward to connecting with more investors in the future..