The guys at Peak Chocolate are bringing sweet snacks back into the lives of athletes. Oh yeah with some added nutritional benefits too.. 🙂
Come on, who does not like chocolate? And I give it to the boys, it actually tasted pretty good.
Their business was tapping into the booming marketing of cacao, coffee and sports supplements. They are trying to create a new category and the product is impressive.
What concerns me about people with no background in food or that their lack of advice from experts is that they create a product mixing various caffeine’s and supplements with no testing on what that product can do to the consumer. With anything in the food realm, testing is a must do.
After having a couple of pieces of chocolate I could feel my heart start to pump faster, and I am sure that is not a good thing.
As you could tell, I was very concerned about the labelling. There are very strict rules around what you can and cannot say on labels and the really (really) big rule is around health claims, and just because Google says it is so, it may not be the case. You need to get experts in the field to advise you before you do anything.
You could not knock their enthusiasm, but sometimes a little information can be dangerous. Ralph was studying a law degree, this does not make him an expert in food labelling which you could tell from the show.
The guys were clearly passionate about CrossFit and were extremely fit and healthy guys, but they needed to do some more research to make sure the product and the labelling is 100% correct.
Steve is very funny. For a guy who says it how it is, he does get upset when things are not quite right. He complained that he is always last when they hand out the products. I am not sure if you picked it up on the show, but I reminded him that there was research done and he was the least liked. This was completely made up and I have no idea if any research even exists, but it is always fun to torment Steve.
I believe we could have got around the labelling but I could not get my head around the fact that these guys also had three other businesses that needed their attention and I will not invest in businesses unless the person has 100% focus.
TIP: Very few people can make a business work with a part time focus. Great businesses are normally lead by obsessive people who spend every second of the day focusing on how to make their business better… Be obsessive.
Cart-a-lot is the 4WD of carts.
It was a great product. I purchased one for the beach and it is very handy.
Remember that we get an hour of the pitch and Rebecca could talk a lot. Often when people are nervous they do tend to talk too much, which can sometimes cause confusion during the pitch..
Was not an investment for me..
Congrats on getting a deal with Naomi.
Blendies is a product by Hummingbird Superfoods that is essentially a ‘nutrient ball’ designed to be added to home-made smoothies.
It’s a good product, the packaging looked great and Ben was an experienced business operator so it was of interest to me.
He had quite a complex structure in his business and I was not sure if the product was strong enough to make a business.
In store we do a similar thing called a ‘ball drop’ where we blend a protein ball into an existing nutrient packed smoothie – it is a bit of fun but not a business. If you are going to the effort of gathering the items to blend your home made smoothie, you could just add some protein powder to it and it would create the same result.
His valuation was really high and it was all based on blue sky.
Naomi’s offer was very reasonable, but it was not to be.
SCOPE IT EDUCATION
Scope it Education is paving the way for kids in this digital age to be able to be able to get ahead in the one industry that is constantly evolving.
There is a real challenge for schools to keep up to date with the digital world.
65% of the students going to school today will be working for a business that does not yet exist, so I like the business and I liked that they were finding a solution for students of the future.
But this was really a business for Steve.
Lots of cute puppies in next week’s episode of Shark tank Tuesday 7.30pm.