Who doesn’t enjoy a nice, relaxing cup of tea? Especially with the variety available now, you can get a tea to relieve yourself of anything, including anxiety, stress, sleeplessness, influenza, and much more.
But Shane Talbott and Steve Nakisher had something else in mind; while their brand of tea was along the same lines as traditional tea, it was far more luxurious.
Keep reading to learn more about Talbott Teas and why they are so luxurious.
What is Talbott Teas?
Long-term life and business partners Shane Talbott and Steven Nakisher, both of whom had varying professions, came up with Talbott Teas, a product they were both passionate about.
Talbott Teas was launched as a luxurious cup of tea standing apart from the rest of their competitors and made of only the best whole leaf tea and flavored with real fruit and spices.
Initially, it was only given to customers at their spa, intended to further relax and rejuvenate their clients. As the popularity of his flavors increased, so did customer demand, and Steve and Shane made the decision to begin packing and selling their tea.
Since Shane already had connections with celebrities and was Oprah Winfrey’s personal hairstylist, his product took no time to become a buzz amongst high-net-worth individuals. Soon it was all Oprah could talk about and, therefore, the increase in Talbott Teas’ sales.
Even after their big break, they still needed investments to grow their company, which is why they decided to approach the sharks.
Talbott Teas’ Shark Tank Pitch
Steve and Shane entered the Shark Tank seeking a $250,000 investment in exchange for 20% ownership in their already successful business. Despite the fact that they got along well and were both strong presenters, Shane stood out as having a special talent for sales pitches.
He went on to tell the sharks that Talbott Tea was a ‘”cup of couture,” it’s glitzy, refined, and luxurious beyond all else. The tea they offer is immersed in style.’
After a very interesting pitch, Steve told the sharks it was his idea to come into the business, and even though the tea market is huge, they weren’t directly competing with any of the big brands. What Talbott Tea was offering was completely different; Talbott Teas specialized in a distinctive blend of luxury, elegance, and affordability.
The tea was then handed out for the judges to try. This was the moment of truth. Was the Talbott Teas actually that good, or was it just luck helping them out? All the judges loved the teas and were pretty impressed by their constantly increasing revenues.
The Talbott Teas duo were successful in persuading the sharks of their product quality, professionalism, and viability of their business. Mark proceeded with the questions where he inquired about what their plans were with the money they would receive.
Steve has an unsure response which was overlooked by the sharks. According to Shane, each tin would cost around $10 and $15 on purchase. Kevin was intrigued by investigating different price points because it revealed how Shane and Steve’s business partnership functioned.
Steve believed in an affordable model, whereas Shane, who loves luxury, believed that advertising their tea as an item of expenditure was a better strategy.
Kevin took over the questions after and asked Shane what their plans for the upcoming five years were. Their plan is to start developing into a full-fledged lifestyle brand with more tea paraphernalia and marketing possibilities.
Steve responded right away to Kevin’s question about where he will get funding from by mentioning a stock purchase in which the company would be sold for 4-5 times revenues.
Kevin was thoroughly impressed with the duo. Following this, Daymond, who clearly loved everything about Talbott Teas, refused an investment since the timing for him just wasn’t right.
He was already stuck with another similar company where his investments were suffering a hard kick. Mark followed suit and refused the investment since teas weren’t his thing. Lori also backed out, questioning the company’s valuation.
Only Kevin, Steve, and Shane were left in the tank negotiating the valuation of the business, where Kevin offered a $250,000 investment in return for 40% equity. A deal was finalized between them for a 35% stake in the business for a $250,000 investment.
Our Review of Talbott Teas
Talbott Teas is a niche in the tea market with several indulgent flavors, 23 to be exact. Their flavors are unique yet strong, delicious, and relaxing.
Green Tea Heaven, Cocoa Cardamom Seduction, Blissful Berry, and Chocolate Almond Allure are some of their best-selling tea blends. The Chocolate Almond Allure tea blend even won awards at a World of Chocolate event in Chicago back in 2011.
We can vouch for this brand of tea as it literally fills the entire space with a beautiful, soothing aroma and tastes just as good. Every flavor is unique and is definitely a must-try.
Pros of Talbott Teas
Tea leaves offer several health benefits, and the same goes for Talbott Teas, with the added benefits of great taste and intoxicating aromas.
Cons of Talbott Teas
Apart from the price range being a little higher compared to other tea brands, Talbott Teas is an excellent bargain. If you have any drawbacks you would like to share, feel free to let us know in the comments below.
Who is the Talbott Teas for?
Talbott Tea is for anyone who doesn’t mind spending a few extra dollars for a better and more luxurious tea experience.
Are There Any Alternatives?
You will find several tea brands in the market; however, we can’t promise they will all be as good and addictive as Talbott Teas.
Our Final Thoughts
Up till now, Talbott Teas was the only fully functional, profitable business that appeared on Shark Tank. After the show aired, Kevin brought in Daymond John and Barbara as investors, who worked together in getting the ‘Jamba Juice’ family to purchase the business while still keeping their partnership and distribution rights.
The ‘Jamba Juice’ family then acquired the company’s rights for an undisclosed amount leaving Steve and Shane living happily and wealthily ever after…