Whether you're lactose intolerant, vegan, or just prefer the taste over cow's milk, plant-based milk is a popular drink option. Though it technically takes just two ingredients to make — water and nuts (or seeds or grains) — the process can be time-consuming and inconvenient, and that's why many people opt for the store-bought version. Unfortunately, store-bought nut milk tends to be filled with additives, and that's precisely why entrepreneurs Alicia Long and Dane Turk invented the Nutr machine. As the couple shared on their episode of "Shark Tank," the product makes it easy to make nut milk from scratch, so all you have to do is add nuts and water.
When Long and Turk brought Nutr to "Shark Tank" in January 2023, their company was already successful. At the time, it was projected to make $6 million in sales by the end of the year, which they credited to a combination of influencer marketing and the fact that it was an effective product. But hoping to grow Nutr further, Long and Turk turned to the Sharks, seeking $500,000 in exchange for 5% of the company. Unfortunately, things didn't go as planned while they were in the Tank.
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What Happened To Nutr On Shark Tank?
As part of their presentation, co-founders Alicia Long and Dane Turk invited the Sharks to taste-test the nut milk from the Nutr, and it was received well by every one of them. Lori Greiner, for example, was impressed by the "very pure and clean" flavor, while Daniel Lubetzky, the guest Shark in the episode, raved about the creaminess and overall quality. The Sharks also praised the high sales margins and the brand's success thus far. However, when it came to the future of the business, none of the Sharks felt confident in investing the amount of money that Long and Turk were asking for.
Kevin O'Leary and Daymond John both thought the $10 million valuation of the company was too high and declined to make a deal, as did Mark Cuban, who cited his investment in a similar "Shark Tank" product, Numilk, as a conflict of interest. While she liked the product, Greiner decided against investing as well, explaining that she didn't see the usefulness of the appliance long term. Lubetzky was the only Shark that expressed interest in making a deal with Long and Turk, but only if they revised their offer. Long and Turk were willing to revise it to $500,000 for a 7.5% stake in the company plus a 2% advisory share, but Lubetzky still wasn't satisfied and ultimately decided against investing.
Nutr After Shark Tank
Although Nutr didn't get a deal with any of the Sharks, something positive did come out of their appearance on the show: Exposure. Thanks to the show, the Nutr website shares, the company saw immediate growth, earning $200,000 more in sales the same month the episode aired. Revenue shot up to $25 million by the end of the year, proving the Sharks wrong about what they claimed was a too-high valuation.
In the months following Nutr's appearance on "Shark Tank," the company began announcing retail partnerships left and right. By July of 2023, the product was being sold online at Home Depot, Best Buy, Target, Sur La Table, Williams Sonoma, and Nordstrom. Only a few months prior, Alicia Long had told the Sharks that 90% of sales came from the Nutr website.
In addition to the product being sold at major retailers, Nutr also introduced a new line of products called Nutr Blends. Designed to be added to the Nutr machine, these powdered flavor packets allow you to enhance your nut milk with wellness supplements like spirulina and ashwagandha. All of this happened less than a year after the "Shark Tank" episode aired.
Is Nutr Still In Business?
If a company doesn't get a deal on "Shark Tank," sometimes it ends up going out of business. However, that doesn't seem to be the case, as Nutr is still going strong as of January 2024. Despite Lori Greiner's concerns that the Nutr was just another kitchen gadget that people would quickly lose interest in, there's clearly a market for it. Social media has helped the company find continued success, as Nutr has a large following on TikTok and Instagram, and the comments sections appear full of satisfied customers who claim the product works as advertised.
Even though business is going well for Nutr, the company does have two major competitors: Almond Cow and Numilk. Both are also nut milk-making machines, however, Almond Cow has a significantly higher price point, and Numilk works differently, producing nut milk with pouches designed for the machine rather than whole nuts and water. Nutr is also the only brand of the three with a line of milk flavoring packets.
What's Next For Nutr
Alicia Long and Dane Turk may have left "Shark Tank" without a deal, but during their exit interview, they made it clear that it wouldn't be the end of the road for their company. "We're going to prove to the Sharks that they're wrong because we're going to grow this to a billion dollars," Long stated. "We're going to be in every single coffee chain and every single household in America."
Long and Turk have yet to achieve those goals, though, in all fairness, they did appear on a more recent season of "Shark Tank." Judging by the increase in sales and popularity following the show, there seems to be a lot more in store for their company. Nutr even has its own mobile app now, where customers can shop, find recipes, manage their subscriptions, and chat directly with customer service. The Nutr is also patent-pending, which means in the future, it could very well be the go-to nut milk maker in coffee chains and households, just as Long had predicted.
Read the original article on Daily Meal.