Little Saints Mocktails Shark Tank Update
Founder Megan Klein appeared on Shark Tank seeking $500,000 for 5% equity in Little Saints Mocktails but walked away without a deal.
Megan Klein was once a successful environmental lawyer, but her true calling was found elsewhere, inside a glass. She noticed a gap in the market for healthier celebration options.
Inspired by her passion for wellness, she launched Little Saints Mocktails, plant-based, non-alcoholic drinks made with functional mushrooms. These drinks offer the fun of a cocktail without the alcohol.
Little Saints quickly gained popularity in wellness stores across the U.S., showing that raising a glass doesn’t require alcohol. So, What happened to these magical Little Saints Mocktails during the Shark Tank? Let’s find out.
Highlights of the Little Saints Mocktails Pitch
- Entrepreneur: Megan Klein
- Season: 16, Episode 1
- Investment Ask: $500,000 for 5% equity
- Product: Little Saints Mocktails, a line of non-alcoholic beverages made with functional mushrooms
- Outcome: Megan declined multiple offers and walked away without a deal
What happened in the Shark Tank Pitch
Megan entered Shark Tank seeking a $500,000 investment for a 5% stake. She introduced the unique concept of functional mushroom mocktails.
The sharks had mixed reactions. Some praised the innovation, while others questioned the taste and market demand. Kevin O’Leary showed interest but wanted a larger stake than Megan was willing to give. After a series of offers and counteroffers, Megan decided not to proceed with a deal. She felt the offers didn’t align with her vision for the brand.
What Happened After Shark Tank
The airing of Little Saints’ episode brought significant attention. The brand managed to secure an additional $200,000 in fundraising at a $20 million valuation.
Little Saints expanded its presence in Miami’s wellness scene. Two new flavors, Peach Ginger and Mango Gold, were launched to appeal to broader tastes. This helped solidify the brand’s position in the non-alcoholic beverage market.
Also, don’t miss this update on Shark Tank products from Season 16, Episode 2
Product & Financial Overview
Product Details
- Little Saints are non-alcoholic, sugar-free mocktails.
- They are made with functional ingredients like Reishi mushrooms and adaptogens.
- They come in five flavors: Strawberry Passion, Guava Rose, Mango Gold, Peach Ginger, and Pineapple Paradise.
Financial Insights
- The brand achieved $500,000 in sales in its first year and saw a 30% annual growth rate.
- Production costs are $2 per bottle, while retail prices range from $5 to $10.
- The profit margin stands at 50%. Lifetime customer value (LTV) is $120, while customer acquisition cost (CAC) is $25.
Future Plans
Little Saints aims to enter the West Coast market by mid-2025. The company is also developing canned versions of its mocktails. Collaborations with wellness brands are in progress.
These campaigns focus on sustainability, aligning with eco-friendly trends. The goal is to strengthen the brand’s appeal among health-conscious consumers.
Closing Remarks
Megan Klein’s journey with Little Saints shows her resilience. She remains committed to offering a healthier social drink. Despite leaving Shark Tank without a deal, she has achieved notable growth. With new flavors and plans for expansion, Little Saints has potential. Stay tuned to see how this mushroom-powered mocktail brand continues to evolve.
We’re closely following the company to bring you valuable insights. Stay tuned for the latest updates on Little Saints !
Featured Image Credit @ Instagram
