Sibling duo and co-founders Christian and Jennifer Jane took the Shark Tank season 13 stage to offer the Sharks a taste of their ready-to-eat, nutritious business. The duo came from Britain and were now operating their business from Texas. They had the vision to make healthy eating hassle-free and wondered if the Sharks were interested in making a Proper Good investment.
They asked for $400,000 for 10% equity stakes in their business. The Sharks were already impressed by their elaborate costumes and concise pitch and ready to play bait!
What Is Proper Good
Proper Good is a ready-to-eat, nutritious, and shelf-stable soup service available for home delivery. The product caters to the busy crowd that cares about what goes into their bodies yet have no time to spend on meal prep. Proper Good’s various flavors are packaged in an eco-friendly material and are edible even when cold. They don’t need to be refrigerated to retain their flavors and nutrients and can stay on a shelf for up to 8 months. The company offers plant-based, keto, gluten- and dairy-free options to account for different preferences and needs.
Sibling duo and British nationals Jennifer and Chris Jane appeared on Shark Tanks season 13 stage to pitch for their home delivery food business, Proper Good. Dressed in elaborate period costumes and wearing white dewy British wings, the duo had the Sharks in stitches with their mannerism and old-school slang. They opened their pitch by introducing their product to an eager audience. They called their product convenient, tastiest, and a healthy aid to workaholics and busy-pants.
They explained that the product is shipped directly from their base in Austen, Texas, once the order is placed on their website. They send singles, but their subscription boxes that don’t need extra packaging, dry ice, and insulation come with 12 meals at a discounted price. Though the quantity of the meals is less than what you might get in a single meal.
Once they closed their pitch, Peter, a fellow Englishman, asked them if they were really from England, and the duo answered in the affirmative. They further added that they grew up watching Dragon’s Den, to which Peter added that he might be their favorite then. Mark quipped that he was out as the siblings accepted that Peter is indeed their favorite Shark.
During the jolly interaction, the duo handed out their samples for the Shark to try. Their crown jewel Red Pepper and Meatball soup, was their bestseller, whereas the Chicken Noodle, an elevated version of the classic, had been a customer favorite since the early days. Mark had the vegan options, Southwest Chilli with plant-based meat and Quinoa Brown Rice Blend. The Sharks snag their praises as they munched on the samples and were ready to talk numbers.
Peter asked about the production and sale costs and was impressed by the margins. Mark inquired about the cost range, and Christian explained they were grossing on 65%, ranging between 200-250. Kevin wanted to know if the soups could be eaten right out of the package, and Jennifer revealed that some industries like nurses and truckers like that their meals can be eaten hot and cold without needing an oven or a refrigerator.
Pete steered the conversation to sales and profits, and Chris was happy to oblige. He explained that they launched in April 2020 and made $556,000 in the first year. Additionally, they have been through the 50% mark in 2021 and have made over 1 million at the time of taping. Christian explained that as more people turned to e-commerce for meal solutions in the pandemic, it helped their business tremendously as they were the only premium quality shelf-stable soup available online.
Daymond reasoned that since he isn’t a fan of soups, he isn’t passionate about the business, so he was out.
Lori thought it was still too early to invest in their business, so she was out.
This is where Peter interjected, asking about the profits they made on their annual sales. Christian explained that they were losing money from their customer acquisition standpoint. He broke down a million sales into $550,000 in gross margin and $300,000 in net margin, yet the company has raised 2 million dollars to date.
In answer to Mark’s query, Christian explained that they were making $80,000 per month.
Kevin began that he trusted their business model and saw promise in their venture. Still, he only invested in businesses that could give him customer acquisition cost and lifetime value, and Proper Good was failing at least one of those fronts, and for those reasons, he was out.
Peter commented that they were losing money on a strong front, which would only get worse from there, as he had already experienced something similar with one of his other investments; he was out!
Mark told the duo that he knew how to make their business huge, but he was afraid they might hold him back. So if they were willing to make changes in marketing and packaging, he would offer $400,000 for 25% equity stakes against their 10% ask. Jennifer asked him if he would be willing to go down to 20%, and Mark agreed.
Christian and Jennifer Jane shook hands with Mark for $400,000 for 20% equity stakes.
Unfortunately, the deal with Mark didn’t close, but that didn’t slow down the duo’s traction. After their appearance on Shark Tank season 13, the show’s spell took effect, and Proper Good’s sales crossed the 2 million mark in just a few months. The sibling duo introduced oatmeal to their line and planned to go into retail in 2022.
Our Review of Proper Good
Proper Good is a healthy and nutritious take on instant food, and we think the food delivery service is here to stay. A modern-day individual has a lot on their plate, and a tasty and convenient solution to an everyday problem might be exactly what they need to stay in good spirits. We find the business quite scalable, especially if they could break into the retail market and bring down customer acquisition costs.
Pros of Proper Good
- Vegan options
- Keto varieties
- Shelf-stable soup
- No need for an oven and refrigerator.
Cons of Proper Good
- Limited flavors
- Sold exclusively from the website and Amazon
- No retail presence.
Who Is Proper Good for?
Proper Good is for everyone who wants to eat healthily but without needing to spend hours on grocery shopping and meal prep. The product’s no additives, and the herbal-based formula gives you the right nutrient fix on the go. If you don’t have the culinary skills and time, or you are just lazy to cook a hearty meal for yourself, Proper Good is the ultimate convenient meal experience of the present day.
Are There Any Alternatives?
Proper Good has no known competitors in the U.S. market though there are alternatives for their Bone Broth variety, namely, Brite Start Bone Broth.
Our Final Thoughts
So far, Proper Good has delivered its promise and has garnered positive reviews on Amazona and other food sites. We believe the business will hit the ball out of the park once they break into the retail market.