Where Is Lulu Bang From Shark Tank Today?
A bottle of sauce or marinade might be the easiest way to upgrade your food, and it doesn't seem like that fact has been lost on many people. In 2023, Americans are expected to produce $1.9 billion of barbecue sauce, alone (per Ibis World). If you zoom out to include all bottled sauces and marinades, that number jumps to a whopping $26.95 billion (in 2021, per Statista).
Grabbing a portion of that market is pretty tempting. After all, it only takes 15 minutes to whip up an easy homemade barbecue sauce recipe. Of course, like with most pre-established markets, this is also an extremely difficult endeavor. Packaging solutions firm O. Berk presents a laundry list of decisions that must be made by those seeking to gain a foothold in this industry. Even the most determined entrepreneurs in this business will face challenges like high shipping costs, just one of the many complications that make entering into a bottled sauce business harder than it seems.
Step by Step Business' concise pro/con list for bottled sauce start-ups includes typically low startup costs and the fact that bottled sauce allows the maker to highlight unique ingredients in a creative way. However, that low cost means there's no shortage of new competitors emerging. Plus, all of the established bottled sauces have a huge marketing head start. It's likely some of these challenges that caused the founders of Lulu Bang to seek help from investors on ABC's "Shark Tank."
Sharks loved the sauce but not the sauce business
Lulu Bang founders Kelly, Jorrae, and Ashley Beard's trip to "Shark Tank" turned some heads with a suggestive pitch summed up with their claim, "if you can name it, we can bang it!" After causing some Sharks to blush, they asked for $150,000 for 10% equity in the company, per the episode segment on YouTube.
Unlike so many "Shark Tank" presentations, the Sharks didn't balk at that valuation or ask. In fact, Shark Kevin O'Leary admitted it's not nearly enough money for the company's massive marketing problem and is abrupt to declare himself "out." The remaining Sharks admitted they were impressed that Lulu Bang's founders have been able to make a deal with Walmart and commended them for their business acumen. However, those sales amounted to only a few bottles of sauce sold every week from each of the 170 stores. After much discussion, each Shark eventually decided that the high costs and laborious effort likely wouldn't be worth the investment.
While the founders of Lulu Bang were forced to leave "Shark Tank" without a deal, they inspired an exciting argument among the Sharks about balancing encouragement and harsh realities. You can watch what's been called one of the "Top 3 BIGGEST Fights” on YouTube. It's an interesting glimpse at how the Sharks see their role on the show, aside from investing in the companies.
The Sharks had reason for concern
Sadly, in the nearly seven years since appearing on "Shark Tank" Season 8, Episode 6, Lulu Bang hasn't grown at nearly the rate the founders clearly hoped. However, the presenters remain at the helm of the operation. In fact, you can still find each sauce featured in "Shark Tank" in over 125 Walmarts, mostly located in Mid-Atlantic states, and a few ShopRite locations in New Jersey and Philadelphia (per their website).
Since airing, the price per bottle has increased from $3.99 to $5. Although that's clearly a marked increase, it is actually still at the low end of the average price of bottled sauces, per Webstaurant Store. Another change in the company's operation includes the switch from glass jars to plastic bottles. This seems like an obvious answer to the Sharks' concerns about how heavy a glass jar of sauce is to ship while also having to account for breakage.
The Sharks were correct that the online sauce business is extremely difficult. Even with a footprint in some Walmarts, the bottled sauce aisles are full of many other options. If you're looking for a new sauce to try, and aren't near one of the Walmarts that might let you text to shop, Lulu Bang will ship you two bottles of varieties, including "Asian Persuasion," "Bourbon Marinade," "BBQ Fusion," or "It's Just Hot!" for $10 (plus tax and shipping) from their online store.