Fighting For A $100,000 Investment | Shark Tank

TL;DR

Ketchup Please is a startup offering a healthier alternative to traditional ketchup, with no added sugar and organic ingredients.

Transcript

welcome back to the iced coffee hour our name is ketchup please so far an iced coffee hour has made 193 000 it's probably made about 1.99 yeah it has 7.99 that's a great guess what a beautiful introduction thank you guys so much for making it out here thank you where did you travel from i traveled from uh university of miami but uh we're both from ... Read More

Key Insights

• 👶 Supply chain and inventory management have been challenges for Ketchup Please, affecting their ability to meet demand and pursue new opportunities.
• 😘 The condiment market, especially for low-velocity items like ketchup, can be challenging due to brand loyalty and consumer behavior.
• ❤️‍🩹 The company is exploring opportunities to enter high-end grocery stores, like Whole Foods and Erewhon, but requires additional inventory to fulfill those demands.
• 🫥 Ketchup Please aims to expand its product line beyond ketchup, with plans for barbecue sauce and other condiments in the future.

Questions & Answers

Q: What inspired the founders to create Ketchup Please?

Evan Labsa's experience with heart surgery sparked the idea to create healthier foods for heart patients, leading to the creation of Ketchup Please.

Q: How does Ketchup Please compare to traditional ketchup brands in terms of taste and price?

Ketchup Please prides itself on not compromising on taste, offering a healthier option without sacrificing flavor. In terms of price, Ketchup Please is competitively priced compared to other organic, no sugar added ketchup brands on the market.

Q: What sets Ketchup Please apart from its competitors?

Ketchup Please distinguishes itself by being the only organic, no sugar added ketchup in the market that doesn't compromise on taste. It also aims to be a premium brand that complements various foods rather than overpowering them.

Q: How has Ketchup Please performed in terms of sales and customer retention?

Ketchup Please has experienced significant growth, with a current presence in almost 80 retailers. They have seen over 50% customer retention rates and high customer satisfaction during farmers markets and festivals.

Summary & Key Takeaways

• Ketchup Please was created by Evan Labsa and Reid Kastner Lang to provide healthier food options for heart patients, starting with ketchup.

• Traditional ketchup brands, like Heinz, contain high levels of added sugar and sodium, while Ketchup Please is sugar-free, low-carb, low-sodium, and USDA organic.

• The company has seen significant growth, expanding from 15 to 80 retailers in 2021 and identifying opportunities for further expansion.