This week on Shark Tank two sisters from Philadelphia, Pennsylvania, Kelly Beard and Jorrae Beard, the owners of Joyce’s Lulu Bang Sauces, take a dip into the tank to pitch their product to the Sharks.
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The sauce itself was developed several years ago by Jorrae. She named the sauce after her late mother Joyce Beard and late brother Michael “Lulu Bang” Beard. The product has gone from a small home kitchen enterprise to a growing business with real nationwide potential.
Joyce’s Lulu Bang Sauces come in four distinct flavors, Asian Persuasion, BBQ Fusion, Bourbon Marinade, and It’s Just HOT.
During their pitch, which happened in March, 2016, one of the Sharks said the sauce “could bring a tear to a glass eye.”
Feeding The Sharks
The sisters are sharing the tank with Daymond John, Robert Herjavec, Mark Cuban, Lori Greiner and Kevin O’Leary.
The Ask
Kelly and Jorrae offered 10 percent of their company in exchange for a $150,000 investment.
- 2016 Sales: $45,000
- Cost to produce – one unit: $1.90
- Retail sale price – one unit: $3.99
A Closer Look
- You can check out LuLu Bang’s official website here
- Here’s Joyce’s LuLu Bang’s Facebook page
- Here’s owner Kelly Beard’s personal Facebook page
- Here’s owner Jorrae “Rae” Beard’s personal Facebook page
- Here’s company CFO Ashley Marie Beard’s Facebook page. Ashley also appears on the tank with the Sharks.
Did the Sharks Bite?
No. The sisters were saucy, but not quite saucy enough to convince a Shark to invest.
Here’s a video of the sisters announcing a viewing party during the Shark Tank broadcast Friday on ABC.
Shark Tank Episode 805, featuring Joyce’s Lulu Bang first airs on Friday, October 28, on ABC at 9:00 p.m.
Images – ABC/Disney