Slawsa Shark Tank Update

Slawsa Shark Tank Pitch

Julie Busha found traditional condiments old and boring. Julie bought equity into an existing company, Slawsa, that made a cross between slaw and salsa, and she loved it. Julie eventually bought the other partner out of the business for around $50k. Julie also pays a 2% royalty to the previous owner, which ends once a certain amount is paid, but she is paying that from her savings and doesn't want the sharks to be involved with that.

Julie said she and her husband went to college and earned scholarships and worked to leave debt free. They bought a house well below what the lender approved them for, and she has never overspent to the point of paying interest on credit cards. Julie only took on the Slawsa opportunity because she felt prepared.

In a year and a half, Slawsa is in 4,200 stores, including Kroger and Publix. Slawsa did $212k in sales in its first year, and this year is year two, which Julia projects to finish with $500k in sales. Julie wants the money to increase her production capacity.

The sharks greatly admire Julie and would likely be investing if she entered the tank with a different product. Unfortunately, while sales were promising, the condiment business was an uncertain route for the sharks, and they were not in love with the taste of the Slawsa. All sharks go out.

Slawsa After Shark Tank

Julie worked for a sports marketing agency out of college and spent much time working with NASCAR. Julie adopted many roles and had a lot of responsibility put on her. Julie switched jobs to do marketing for General Mills. Working with General Mills gave Julie a first-hand look at brands being marketed into awareness from the ground up.

Julie writes about learnings such as why perpetual royalties should be avoided and what it takes to succeed with a consumer goods product. A fraction of what it takes is a willingness to work 80 hours a week and reinvest everything into the company for years. Julie says aggressive marketing efforts and a fair price are of higher importance in creating awareness than what a good-tasting product alone can do.