She said she prepared for an onslaught the night of the show, Nov. 18, but that night she got fewer than 700 orders. She sells her product direct to consumer, through Amazon and at a handful of brick and mortar stores. Since pitching to a group of investors on the hit ABC-TV show "Shark Tank" last month and getting two bites, Madison entrepreneur Kate Field has seen a huge spike in sales of her kombucha-making kits. Kevin O’Leary is the first Shark to make an offer of $350,000 for 20% ownership in the company. Cookie Dough Cafe before Shark Tank Update: I like this Creative New Specialty Food Product, I really do. Sarah Hauer can be reached at shauer@journalsentinel.com or on Instagram @HauerSarah and Twitter @SarahHauer. Kate Field, owner of The Kombucha Shop, entered the Shark Tank asking for $350,000 in return for 10% equity in her company. "I thought I could do this so much better," Field said. Guest shark Sara Blakely, the founder of Spanx, joined in on the deal. About The Author. It sells a … Field turned down an offer from shark Kevin O'Leary, who wanted 20 percent equity in The Kombucha Shop for $350,000. Subscribe to our newsletter. Not only is the company profitable, but the overhead is low as Kate is primarily a one-woman business. "It has been crazy," said Field, 31, who started her company, The Kombucha Shop, four … Thanks for being a loyal listener! If I could be as healthy looking as you I would swallow this stuff every day of my life.". A $350,000 deal with Barbara Corcoran and Sarah Blakely of Spanx, and a whole new world of opportunity. Barbara also likes that Kate looks like the picture of health and offers her $200,000 in cash and $150,000 in credit for 10% of The Kombucha Shop. Shark Barbara Corcoran bit, offering $200,000 cash and a $150,000 line of credit for 10 percent equity in The Kombucha Shop. ", She and her 10 employees haven't slowed down since the show aired, Field said. Field got what she asked of the sharks. The business made about $1.2 million in sales last year, and now sells the kits on its website for $45, or $75 for the deluxe version. @thekombuchashop @ABCSharkTank #SharkTank, — Barbara Corcoran (@BarbaraCorcoran) November 19, 2018. Balancing Act: Talented Employees, Great Managers –– Hunting For The Best Fit, Pioneer Square Labs Aims To Turn Ideas Into Businesses. Since pitching to a group of investors on the hit ABC-TV show "Shark Tank" last month and getting two bites, Madison entrepreneur Kate Field has seen a huge spike in sales of her kombucha-making kits. Each week in this newsletter, Sarah Hauer will serve as your city guide and share stories about Milwaukee, its people and what's happening around town. Kombucha has a sour, tart flavor that's an acquired taste, Field said. Subscribe to her weekly newsletter Be MKE at jsonline.com/bemke. Sway Motorsport - Electric Scooter - Update, Rokblok - Portable Vinyl Record Player - Update, Best Selling – Most Successful Shark Tank Products. In the end, each woman agreed to get 5 percent equity. "We've been working 24/7 essentially.". Despite its elevated price tag at roughly $3-5 per bottle in grocery stores, Kombucha is the fastest growing beverage in the United States. Our Review of The Kombucha Shop If you tuned in to the episode where Kate Field pitched The Kombucha Shop on Shark Tank, you might not have been able to resist placing an order for one of the kits that she sells. Madison entrepreneur Kate Field scored a deal Sunday on an episode of ABC's entrepreneurial pitch competition show "Shark Tank" for her kombucha supply company. They did like her numbers: $3.2 million in lifetime sales as of filming this summer, $500,000 in profit this year, no crowdsourcing and no money spent on advertising. Privacy Policy | Sitemap. — Inutu M Liam (@InutuLiam) November 19, 2018, “I should have never let you guys taste it!” Not what you want to hear in the tank! In the weeks leading up to the show's taping, Field was valuing the company at $2 million. Field started her home-brew kit company, The Kombucha Shop, with $800 in a storage closet in Madison in 2014. Initially, she was disappointed. So as I plugged in my headphones to call Kate Field, CEO and founder of The Kombucha Shop, I was prepared for either experience. A native of Lexington, Kentucky, Kristen moved to Chicago in 2011 and received her MA in Writing, Rhetoric, and Discourse from DePaul while trying to maintain her southern accent. RELATED: Madison entrepreneur pitches The Kombucha Shop on 'Shark Tank' Sunday, LIKE US ON FACEBOOK: Get Journal Sentinel business news in your feed. Update: The Kombucha Shop Lands Shark Tank Deal With Spanx Founder and Wisconsin Company Impresses on Shark Tank, Turns Down Deal From Mark C Bucks, MSOE partner on STEM academy for Milwaukee students Join over 100,000 of your peers and receive our weekly newsletter which features the top trends, news and expert analysis to help keep you ahead of the curve.