You’ve probably heard of Simply Good Jars, right? If not, let’s get you up to speed. The Philadelphia-based startup, led by founder Jared Cannon, offers a range of healthy, ready-to-eat meals in reusable jars. The idea is simple, yet innovative – offering convenience, health, and sustainability in one package.
But what’s the buzz about Simply Good Jars? Well, they made quite a splash when they appeared on Shark Tank. Let’s go back in time and revisit their Shark Tank journey.
The Simply Good Jars Shark Tank Pitch and Deal
Season 12 of Shark Tank saw Jared Cannon, the trailblazer behind Simply Good Jars, step into the tank. He was there with a clear objective – to secure a $500,000 investment in exchange for 7% equity in his business. The stakes were high, and the sharks were intrigued.
After a series of discussions and negotiations, two sharks decided to bite. Mark Cuban and Lori Greiner saw potential in Simply Good Jars and made a joint offer. They proposed to invest the requested $500,000 but for a slightly higher equity stake of 10%. Seeing the value in partnering with Mark and Lori, Jared accepted the deal.
But here comes the twist in the tale – the deal, despite being agreed upon on the show, never closed. Yes, you read that right. The much-celebrated deal never materialized.
Is Simply Good Jars Still in Business?
Now, you might be wondering, did the company tank without the Shark Tank deal? Not quite. In fact, the company did more than just survive – it thrived!
The exposure Simply Good Jars gained from the show served as rocket fuel for the business. Sales skyrocketed by an astounding 1,200% to 1,500% after the episode aired. Talk about the power of television!
What’s more, Simply Good Jars received a torrent of inquiries following the episode – over 750,000 to be precise. The Shark Tank appearance had put the company firmly on the map, and people were eager to learn more and get their hands on these healthy meals in a jar.
Fast forward to 2022, and Simply Good Jars has scaled new heights. The company has expanded its reach to 28 states and established a new processing center in sunny Florida. And that’s not all. They have also secured partnerships with retail giants such as Costco, 7-Eleven, Walgreens, Wawa, Saxbys Coffee, and The Fresh Market.
As of the latest updates, you can find Simply Good Jars in multiple retail outlets across the country. They’re not just limited to grocery stores and supermarkets, but are also available in hospitals and convenience stores. The company’s revenue growth has been impressive, tallying up to $4.5 million in annual revenues by August 2022.
In spite of initial hurdles, Simply Good Jars has demonstrated resilience and adaptability. They’ve managed to weather the storm, grow successfully, and are now even eyeing international expansion. They’re also working towards patenting their packaging in the U.S., Canada, and Europe. So, watch this space, because Simply Good Jars is on a roll!
The Current Updates
As we journey into 2022, there’s a lot to talk about when it comes to Simply Good Jars. From a humble start in Philadelphia, the company has grown into a significant player in the healthy food industry. With its unique concept of delivering ready-to-eat meals in reusable jars, it continues to make waves.
Today, Simply Good Jars is not just a local name, but a brand recognized across 28 states. Their expansion has been nothing short of remarkable. One of their significant achievements in recent times has been the establishment of a new processing center in sunny Florida. This move has allowed them to cater to an even larger customer base and keep up with the growing demand for their products.
Alongside their geographical expansion, Simply Good Jars has also managed to secure partnerships with some big names in the retail industry. Companies such as Costco, 7-Eleven, Walgreens, Wawa, Saxbys Coffee, and The Fresh Market now stock Simply Good Jars. This is a testament to the brand’s popularity and the quality of its products.
Simply Good Jars’s Net Worth
While the exact net worth of Simply Good Jars is not publicly disclosed, we can look at their revenue to get an idea of their financial success. By August 2022, the company was able to generate an impressive $4.5 million in annual revenues. This figure tells us that Simply Good Jars is not just surviving, but thriving, in the competitive food industry.
Consider the fact that this revenue comes in the absence of a closed deal with Shark Tank. It’s clear that the company’s innovative products, strategic partnerships, and effective marketing have helped them carve out a successful path. The steady revenue stream also hints at a substantial increase in the company’s value since its appearance on Shark Tank.
Impact of Simply Good Jars Appearance on Shark Tank
The influence of Shark Tank on Simply Good Jars cannot be overstated. Although the agreed deal with Mark Cuban and Lori Greiner fell through, the company still benefited enormously from its appearance on the show. The exposure served as a catalyst, propelling the brand into the limelight.
Post the show, Simply Good Jars saw its sales skyrocket by an astonishing 1,200% to 1,500%. The company was flooded with inquiries, receiving over 750,000 queries from interested customers. This surge in demand was a clear indication of the company’s growing popularity. The Shark Tank appearance, in essence, put Simply Good Jars on the map.
Fast forward to the present, and the company’s success story continues. With plans for international expansion and patenting their packaging, Simply Good Jars is a brand on the rise. Its journey from Shark Tank to becoming a recognized name in the healthy food industry is truly inspirational.
Simply Good Jars Business Overview
In the world of ready-to-eat meals, Simply Good Jars has carved a niche for itself. The company’s unique proposition of delivering healthy and convenient meals in reusable jars has won the hearts of many health-conscious consumers. Even though the Shark Tank deal didn’t close, the company continued its journey undeterred.
The spotlight from the show served as a catalyst, propelling Simply Good Jars into a new level of visibility and recognition. The surge in sales and the deluge of inquiries post-Shark Tank was an affirmation of the market’s acceptance of their innovative product. Today, the company serves customers across 28 states and has even established a new processing center in Florida to cater to the growing demand.
Another feather in Simply Good Jars’s cap is its strategic partnerships with prominent retailers. From the aisles of Costco and Walgreens to the shelves of 7-Eleven and Wawa, Simply Good Jars has made its presence felt. Even coffee houses like Saxbys Coffee and grocery stores like The Fresh Market now stock their jars. This speaks volumes about the brand’s popularity and the trust it has garnered.
From a financial standpoint, Simply Good Jars has shown promising progress. With annual revenues touching $4.5 million by August 2022, the company is in a solid financial position. This revenue, coupled with the expanding geographic footprint and growing brand recognition, indicates a promising future for Simply Good Jars.
Conclusion
The story of Simply Good Jars is a testament to the power of innovation, resilience, and strategic growth. Despite the Shark Tank deal falling through, the company used the platform to its advantage, gaining significant exposure and subsequently a boost in sales.
Today, Simply Good Jars is more than just a Philadelphia-based startup. It’s a brand recognized across multiple states, serving thousands of customers with its unique and healthy ready-to-eat meals. Their journey is an inspiring tale for other entrepreneurs who are looking to turn their innovative ideas into successful businesses.
With plans for international expansion and patenting their packaging on the horizon, Simply Good Jars is a brand on the rise. Their journey from Shark Tank to becoming a recognized name in the healthy food industry is truly inspirational. It goes to show that with the right combination of innovation, strategy, and resilience, success is just around the corner.
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