Eating a delicious healthy meal with our tide schedules in the day-to-day busy life sounds a bit challenging. Because preparing a hot healthy meal is a time-consuming activity many tend to use microwavable frozen products with lots of artificial preservatives as an easy go. But what do you think about a hot healthy meal that you can keep for months without refrigerating or adding preservatives? Then, you should know about Proper good.
Read what happened to proper good worth and net worth update in brief here.
What is Proper Good?
Proper good is ready to eat food delivery service that provides you with nutritious, healthy soup without any preservatives. The company guarantees an 8-month shelf duration and customers can consume the soup either hot or cold. You could use it to heat it after 90 seconds and enjoy it without adding anything. Also, the company is using 99% higher quality organic natural products and gives a variety of options to choose from. Some of their dietary selection is Keto, gluten-free, plant-based, and dairy-free.
Who is the founder of Proper Good?
Siblings, Christopher Jane and Jennifer Jane are the founders of the proper good company. Because Christopher studying at Stanford Business School and Jennifer with a Marketing degree both of them have a business background. The need for a quick and healthy meal for their busy life had inspired them with the idea of forming the company.
What happened at the SHARK TANK
Brother and Sister entered the show in episode 1302 with a deal of $ 400,000 for 10% equity of the proper good meal. They had special wore victorian costumes and started to introduce them as the only shelf-stable meal delivery company. Also, they explained that the soup pouches are stable on the shelves even they are not using any preservatives on them.
The Sharks including Peter Jones, Lori Greiner, Daymond John Kevin O’Leary, and Mark Cuban were interested in the business because they got a chance to taste the soup. Siblings tried to pitch on peter first saying that they grew up in a Dragons Den. They explained to the Sharks that they have made $556,000 in their first year and showed they had earned over one million halfway through the year 2021.
After hearing their income sharks impressed and listen to their marketing plans as Christopher and Jennifer explained that they are the only business in the market selling shelf-stable premium meals. Even Daymond John likes the soup he said that he’s not interested in the business so he decided to get out of the deal. Lori Greiner is also refused to invest saying that the business is still early.
Then Peter Jones also refused to invest after hearing the entrepreneurs are spending
about $80,000 a month on the business. Also, the high Customer acquisition cost didn’t impress him. He also explained to them how Customer acquisition is draining money from the business with his previous experience in the food industry. He also said that most of the time founders could be squeezed out by the investors and it’s unprofitable.
Kevin O’Leary questioned the fact of the lifetime value of a customer. Even the high customer growth rate could cover the Customer acquisition cost he also thinks it was too early to invest.
But Mark Cuban had a different idea about the business. He offered $400 000 for 25% equity with the condition of changing some aspects of the business. Christopher and Jennifer agreed to the changes but requested $400 000 for the 20% of equity. Mark finally decided to go with the offer and explained they needed a new marketing plan.
What happened to Proper Good After the Shark Tank?
Even the official sites didn’t update about the deal on the Shark Tank officially the Proper Good abled to gain more and more customers after the episode aired. The company had introduced new products and is still in business.
According to the Proper Good site they had sold around three and a half months’ worth of their soup in the following week after the show. With the skyrocketed sales company targeted about $2 million in 2021 and introduced new products. The site is still on business gaining attention and planning to retail in January 2022. Also, they had added oatmeal to the list showing customers a new beginning.
The proper good current net worth
The company is worth around $ 4 million at the time they were on the shark tank. Now as the company is showing $2 million monthly revenue the company’s net worth might have increased than the last year.
Competitors of proper good
There are a few major companies now in the same field as the proper good. Some of them are Uniflex, Food concepts, RE&S and Roll,d.
proper good FAQ
Chris Jane and Jenifer Jane are the founders and owners of the company
As the company confirmed using 99% organic natural products and no preservatives included Proper good products are considered as a healthy food option.
Each meal cost around $ 5.99 in their subscription service as a bundle and the box of 12 cost $72. If you choose their subscription service you can buy a packet at $7- 15% cheaper.
Proper good has 8 months shelf life assurance.
Yes. Mark Cuban offers an investment of $ 400 000 for 20% of equity.