Oat Haus Shark Tank Net Worth 2023
On Shark Tank season 13 episode 3, Ari Schaer, Eric Katz, and Ali Bonar asked for $375,000 in exchange for 5% of their company. This translates to a valuation of $7.5 million.
However, they did not receive an investment from the Sharks and exited the show without a deal. Despite this, their sales increased by 300% in the following weeks after their appearance on Shark Tank.
Oat Haus Granola Butter costs $3.25 to make a jar and is sold for $9-$12.95 on their website. They had generated $2.7 million in lifetime sales during the pitch, including $1.2 million in the last year with only 5% of their profit spent on marketing.
As of 2022, Oat Haus has a net worth of $4 million.
What is Oat Haus?
Oat Haus is a Pennsylvania-based company that produces a sandwich spread which is versatile enough to be used in baking. The spread primarily contains granola and oats and is completely free of nuts, making it an ideal option for individuals with nut allergies.
The company offers six different flavors: vanilla, strawberry shortcake, chocolate, berry, pumpkin spice, and original. On the Oat Haus website, a 12-ounce jar of the spread is priced at $13.95. Customers can enjoy a lower cost per jar if they purchase four or subscribe to a regular delivery.
The spread is made using gluten-free oats, flax, olive oil, maple syrup, coconut oil, salt, and other natural ingredients that give each flavor its unique taste.
Oat Haus products are sold in various stores, including Whole Foods, Thrive Markets, Baron’s, Pressed, Harmons, Erewhon, Central Market, and Amazon.
Who are the Oat Haus Founders?
Ali Bonar, who is the main co-founder and CEO of the company, conceived the idea for Granola Butter after developing a sensitivity to nuts. She pursued a degree in nutrition at UC Berkeley, but the vast amount of information overwhelmed her, causing her to struggle with an eating disorder for over a decade.
Initially, the company was called Kween & Co, but it is now the name of the production facility. While working for a healthcare IT company in San Francisco, Ali began creating granola butter as a side project, which quickly gained popularity.
However, due to the high cost of rent in California, she moved her business to Warminster, Pennsylvania, and relaunched it as Oat Haus in July 2021. Ali served as CEO until October 2021 and will continue to do so until then.
What Happened to Oat Haus at the Shark Tank Pitch?
In episode 3 of Shark Tank season 13, Ari Schaer, Eric Katz, and Ali Bonar pitched their company and asked for $375,000 in exchange for a 5% ownership stake, which would give their company a $7.5 million valuation.
During their pitch, they shared their personal experiences and provided information about their product. The Sharks tasted the product and were impressed with the spreads.
Mr. Wonderful expressed concerns about the weather being too drizzly. The entrepreneurs shared that Eric and Ali have been together for eight years, while Eric and Ari have known each other since they were infants.
Ali also discussed her struggles with eating disorders and how she created the granola butter when her tummy couldn’t handle nuts after reintroducing them to her diet.
Their company started in March 2018 and has already generated $156,000 in sales. In 2019, they made $435,000 in sales, in 2020, they made $1.2 million, and they are projected to reach $2.5 million in sales for 2021. They have also received $600,000 in funding from additional investors, including individuals with successful food product exits.
Each jar of granola butter costs $3.25 to produce, and they sell for $9 to $12 online. They sell the jars to wholesalers for $5.50, and they retail for $8.99 to $11.99 in stores.
After the pitch, Mark Cuban and Barbara Corcoran withdrew from the deal, citing concerns about the product’s competitiveness and their ability to contribute to the company, respectively. Kevin O’Leary was also not interested due to the fiercely competitive market and the unpleasant consistency of the product.
Lori Greiner was a fan of the taste and packaging but decided not to invest as she did not feel it was a fit for her business.
Daniel Lubetzky was the last Shark remaining but decided not to invest as he was turned off by the emphasis placed on previous exits and wanted to invest in a product that the entrepreneurs were passionate about and would not sell after his investment.
As a result, Oat Haus did not receive an investment from the Sharks and exited the show without a deal.
What Happened to Oat Haus after the Shark Tank Pitch?
In an interview with the Philadelphia Business Journal one week after the program aired, Ali stated that they were receiving a constant flood of orders. After the initial hype died down, sales increased by 300 percent in the following weeks.
The company’s primary business strategy revolves around selling consumable products, which generates revenue from direct online sales on their website and by placing their products in health and wellness retail stores throughout the United States.
In November 2021, they gained actress Jameela Jamil from the TV comedy series “The Good Place” and her online community, I Weigh, as an investor. By the end of 2021, the company had accumulated $2.5 million in sales.
What is the Net Worth of Oat Haus?
In Shark Tank season 13 episode 3, Ari Schaer, Eric Katz, and Ali Bonar asked for $375,000 in exchange for a 5% stake in their firm. This equates to a $7.5 million valuation.
The current valuation is evidently higher since the Company has grown.
Who are the competitors of Oat Haus?
There are no competitors identified for Oat Haus.
Oat Haus FAQS
What is Oat Haus?
Oat Haus is a company in Pennsylvania that produces granola-based spreads.
What are the ingredients of Oat Haus?
Granola and oats are the main components.
Who are the founders of Oat Haus?
Ali Bonar is the company’s major co-founder and CEO.
How much were they seeking in the Shark Tank?
The founders were in search of $375,000 for 5% ownership in their business.
Did they get the deal from the Sharks?
The Sharks were unable to invest in the company.
Where can they find Oat Haus for sale?
They can purchase Oat Haus spreads at Whole Foods, Baron’s, Harmons, Erewhon, and Thrive Markets. They also sell at the company’s website.
What is their website?
The website of Oat Haus is www.oat.haus
What are some their flavours?
Original, vanilla, strawberry shortcake, chocolate, berry, and pumpkin spice are the six flavours available.
Which Whole Foods locations are they in?
They may be found in the regions of the North East, North Atlantic, Florida, and the Southern Pacific.
Is Granola Butter Nut-free?
Yes. Granola Butter is nut-free and free of the top eight allergens! Granola Butter is made only in a top 8-free facility.
Is Granola Butter Gluten-free?
Yes. Gluten-free Granola Butter All of their goods are prepared using gluten-free oats that have passed the purity criteria (5ppm).
Are there any other allergens in Granola Butter?
Granola Butter has no other significant allergies. The top 14 allergens are absent from all of their goods.
Gluten-containing cereals, crustaceans, eggs, fish, peanut, soy, milk, tree nuts, celery, mustard, sesame, sulphur dioxide, lupin, and mollusks are all examples.
Is Granola Butter made in an allergen friendly facility?
All of their goods are produced in a nut-free facility in Warminster, Pennsylvania.
Is Granola Butter Organic?
Yes, Oregon Tilth has certified it.
Is Granola Butter Vegan?
Yes! Their whole line of items is vegan.
What’s the rosemary extract for?
It’s a rosemary extract that aids in the preservation of freshness. It’s flavourless since they use such a minimal amount.
Is granola butter free of genetically modified organisms (GMOs)?
Yes. Non-GMO components are used in all of their goods.
Is Granola Butter Kosher?
Yes, CRC has certified it as Kosher.
Does Granola butter contain artificial colours, flavours, or preservatives?
No. There are no artificial colours, flavours, or preservatives in any of their goods.
What’s their return policy?
They can’t take returns because they’re a food company, but they’ll do all they can to make things right, whether that means sending customers a different taste or refunding their money!
Do they ship internationally?
At the moment, they exclusively ship to the United States and Canada.
They charge what the postal service costs them for shipment in Canada (unfortunately it can be pricey).
They’re also available at Natura Market and Nature Sante, which both ship across Canada.
Can they update their shipping information after they place the order?
They can change their delivery details as long as their order hasn’t been sent yet! Simply send an email to [email protected], and they will try their best to help.