Several kinds of products walk into the tank every day; our favorite, by far, are those that involve food. The Bang Shack is a product like this. They say that Shark Tank is an excellent place for the product to generate some heat and raise its sales. So let’s look into the Bang Shack and what makes it stand out.
One of the significant factors that the Bang Shack seems to be different from other products is its story. The Bang Shack is Jason Hadley’s idea. He came up with the idea when he was invited to a food networking event in 2002.
He first made a chicken dip for his friends and family as he loved cooking for those he loved. They enjoyed it so thoroughly that his wife suggested that he should sell it at a Farmer’s market she frequented.
He started selling the Chicken dip, and soon it gained him enough money to go into other kinds of dip. The Bang Shack thus became a venture with three significant dips for the customer to choose from. One was the chicken dip, the other was a vegetarian dip with zucchini, and the third was a vegan dip for all the LA health-conscious people.
Now that we know more about Bang Shack, let’s look at how the Shark Tank pitch went. Jason was seeking a partner for his business so that he could work his way up the ladder and make Bang Shack bigger than it was currently.
Jason entered the tank and asked for $80,000 for 20% of his business. He started telling his story and more about his business. He also gave a bit of background. He talked about how he didn’t always have the most money growing up.
A low-income family raised him, and his single mother had to work at 2 different workplaces so that she could support her children. Jason ensured that he always cooked for his younger siblings as he barely had time.
Even though this is Jason’s first product, he has brushed shoulders with entrepreneurship. He used to sell candy bars door-to-door when he was 10 to get his hands on some extra cash growing up. He was a father at age 15, propelling him to create an inner drive and succeed as much as possible. He’s had various careers and has sold all kinds of things, but his passion lies in cooking and selling food.
The Sharks seem to pick up on Hadley’s passion because they love his enthusiasm as he pitches the idea. They also think the product is impressive and delicious when they taste it. His back story has many sharks on the brink of tears.
However, they feel like Jason doesn’t seem to have any infrastructure or production strategy. They feel like the product is in its initial stages and has quite a way to go before the Sharks can invest in it.
The Sharks all agree that they can’t invest in the business as of now, so none of them make an offer.
The company is active, but Jason hasn’t been able to break out of Farmer’s market model.
Our Review of the Bang Shack
Jason Hadley ended up not getting any funding for his amazing dip, but we know there are pros and cons to the entire venture. Let’s look at some of the pros and cons of the Bang shack.
Pros of the Bang Shack
- The Product is Delicious. The sharks attested to the fact that all the dips that they had were lovely to eat. The fact that the food product is doing exactly what it must do, i.e., be delicious, tells us that the product is likely to be successful in the long run.
- It is versatile. The dips provided are generally ones that would go with all kinds of food. This fact also means that the dips are easy to market in several ways.
- There is variety. Three different kinds of dips are available, and all of them are delicious. Having variety means that the company can cater to all sorts of people; thus, they will likely have better margins and varied customers. S
- It has options for vegans and vegetarians. The company is aware that they function majorly out of Hollywood. The clientele here are people who want to have vegan and vegetarian options. Thus, knowing this gives the brand a firm base and better sales than competitors.
Cons of the Bang Shack
- There is no production expansion. There are some methods of production. However, with the current techniques, there are no ways for the company to grow and remain relevant.
- There is no infrastructure. There are no machines for the smooth growth of the company.
Who is Bang Shack For?
The Bang Shack is for everyone. However, it is mainly for people who love eating food. If you’re someone who loves trying out food with all the different kinds of dips, then the Bang Shack is that for you. If you’re someone who wants to make a simple dish stand out, then the Bang Shack dips are for you. They are versatile and, thus, will give you quite the bang for your buck.
Are There Any Alternatives?
There are many alternatives to the Bang Shack. There are no exact alternatives to the kinds of dips offered by Bang Shack. But the market for dips is quite large, which means that if you wanted to, you could go out and find something similar. However, all the recipes in the Bang Shack dips are entirely original, and you’re unlikely to find something replicating it.
Our Final Thoughts
The Bang Shack is still growing even though the shark deal didn’t go quite as they wanted it to. They did try to expand to a website. However, this plan didn’t go as they wanted it to. However, you can see that they have still stuck to their Farmer’s market model, so when they’re ready to, they will grow.