What Is Element Bars?
Element Bars allows customers to customize their energy bars online based on their dietary needs and preferences and deliver them to their homes.
Element Bars are personalized energy bars that are available for purchase online.
You can select the ingredients you want and receive a personalized label with Element Bars, then get the bars mailed directly to your home.
Do you like a chewy or a crispy bar? What nutrients, such as sweets, fruits, nuts, and nuts, would you prefer to improve your energy levels? As you create your unique energy bar, you may also keep track of its calories.
There are also various pre-made flavors to choose from, including Chocolate Cherry, Almond sunrises, Datey Divine, Cinnamon Mornings, Oaty Trails, Autumn Blueberry, Nutty Delight, and Simply Cranberry.
The founder of Element Bars approached Shark Tank with a $150,000 offer for a 15% stake in the company and delivered an amazing presentation. After several difficult conversations with sharks, Kevin Harrington agreed to invest in Element Bars for 30% equity.
Natural and partly natural ingredients are used in making the element bars. Consumers looking to lose weight will find the energy bars gluten-free, organic, and non-GMO.
|Company Name||Element Bars|
|Product||Custom Energy Bars|
|Investment Asking For||$150,000 For 15% equity in Element Bars|
|Final Deal||$150,000 For 30% + 4% Royalty And Rights To License Product|
|Episode||Season 1 Episode 6|
|Business Status||In Business|
Who Is The Founder Of Element Bars?
Jonathan Miller founded Element Bars in 2008. Element Bars CEO Miller also founded GetCheapBooks.com, a popular site for comparing prices for video games, books, movies, and music online.
Jonathan Miller was bored of the mass manufacture of high fructose corn syrup-sweetened energy snacks.
After consuming an energy bar, he became inspired to make energy bars that caused him to crash.
According to him, the energy bar contained unknown components, which led him to develop a process for manufacturing biodegradable energy bars containing only natural ingredients.
Jonathan Miller desired a product that matched his preferences and dietary requirements. To meet his needs, he started manufacturing energy bars in his kitchen.
Protein and fiber are high in the resulting product, but sugar and saturated fats are low. He wanted to share the success of his innovations with others.
It was from that moment that he conceived of the Energy Bar idea. A product that reflected his customers’ tastes, preferences, and nutritional needs were his goal.
Element Bars Before Shark Tank
Jonathan Miller is a 29-year-old entrepreneur from Chicago. He founded and owned Element Bars, which produces customizable energy bars.
One day, he stumbled upon the idea after crashing after eating an off-the-shelf energy snack.
Based on his inspection of the label, he concluded that there had to be an alternative manner of recovering energy that did not involve ingesting unpronounceable chemicals.
Jonathan Miller’s desire to have a natural and healthy energy bar appealed to his tastes. His energy bars have been made in his kitchen for more than five years.
They own and operate their factory, producing between 12 and 1,000 bars a day.
Individual bars are manufactured by mixing each ingredient separately, and they are then molded according to the clients’ specifications.
He claims that they export approximately 1,000 bars every week and have expanded their operating capabilities.
Jonathan Miller claims he has invested approximately a year and a half of his own time in the business and plans to expand over the next couple of years.
In addition, he claims to have resorted to his wife for assistance during these tough economic times and that he is looking to secure an investment from the Sharks to expand Element Bars.
How Was The Shark Tank Pitch Of Element Bars?
John Miller appeared on the Shark Tank requesting an investment of $150K in exchange for a 15% stake in Element Bars.
Jonathan Miller made an appearance on the sixth episode of the first season of Shark Tank seeking $150,000 in exchange for 15% of bespoke energy bars called Element Bars.
According to Kevin O’Leary, the company has an attractive business model, but the valuation is just nuts:
- there is nothing secret or exclusive about the process.
- The sugar in his bar gave him a rush, but he’s coming down from it now.
He has mixed feelings about Jonathan since he likes him a lot, yet he can’t invest in the relationship.
Barbara Corcoran thinks of Jonathan as a “little Shark,” but she doesn’t understand the business, and she doesn’t believe there is a demand for what he’s selling because she believes that if there is, someone else will copy it. As a result, she is out.
The Sharks asks him to come up with a number, but he is incapable of bargaining with himself.
Daymond John is of the opinion that the valuation is still absurd, and in order for him to have an equity share in the company, he would need 75% of it. He does not have any interest in making an investment in Element Bars.
Jonathan makes a good impression on Robert Herjavec, but not the business itself. He recommends that Jonathan forget about Element Bars and find a job working for him instead. He is also out.
Kevin Harrington became invested with the idea of personalized nutrition around 7 years ago. He is under the impression that his company may have some interest in Element Bars.
Kevin Harrington makes an offer to Jonathan in the amount of $150,000 for a lifetime royalty of 100% plus 4%, provided that Jonathan makes a deal with Kevin’s nutrition company.
In response to Daymond’s offer, Jonathan makes a counteroffer of $150,000 in exchange for a 20% stock stake in Elements Bar.
The Sharks mock the offer, but Jonathan does not back down from his position.
Robert Herjavec commented that he is a wonderful salesman, but not a great businessman. He quits.
Daymond John feels insulted by Jonathan’s counteroffer, yet he still thinks of Jonathan as a beast. He is out.
Jonathan does not take Kevin up on his offer. The fact that he will only receive a 4% royalty is not enough motivation for him, and he wants the company to succeed.
Kevin Harrington proposed a new offer for Element bars. He wants to license Element Bars. He made Jonathan an offer of $150,000 in exchange for a 35% and 4% royalty on all future sales.
Jonathan counters the offer by decreasing it to 25%. Jonathan accepts the offer after Kevin raises it to 30% of the original amount.
Jonathan leaves the Shark Tank stage with an amazing offer from Kevin Harrington for his Element Bars.
Final Deal: Kevin Harrington agreed to invest $150,000 for 30% equity in Element Bars.
What Happened To Element Bars After Shark Tank?
Element Bars was established and launched before Jonathan Miller appeared on Shark Tank. His items are already in demand, as he earns about $50,000 each year.
Clients can customize the labels and even the bars on his website to sell personalized energy bars.
Kevin Harrington invested in Jonathan Miller after lengthy and arduous negotiations.
Kevin O’Leary had difficulty deciding whether to invest in Element Bars, but no mention of Element Bars being the best or the worst on Shark Tank.
The Element Bars website is www.elementbars.com, where you can customize and buy your energy bars.
The Cores, Fruits, Nuts, Sweets, and Boosts that you can choose from will give you a more personalized bar.
Once you have entered your personal information, the personalized energy bar will be delivered right to your doorstep.
Various random websites and blogs contain reviews for Element Bars, most of which are favorable, particularly because buyers can customize the ingredients and examine the nutrition statistics.
The business element of Element Bars is undeniably successful, particularly after Kevin Harrington invested in it. You can order a customized energy bar for just $2,99 per bar.
Additionally, you can purchase Element Bars in bulk if you are a shop. According to the Element Bars website, the company initially sold 200 personalized energy bars per month but has since expanded to make and sell up to two hundred thousand energy bars every month.
Element Bars Shark Tank Update
Element Bars were featured in a Shark Tank Update segment of season 4 episode 1 even though the deal between Element Bars and Kevin Harrington didn’t complete.
The Elements Bars website was not ready for the traffic boost it got after appeared on Shark Tank.
Johnathan was not prepared for the sudden surge in traffic that would follow his appearance on Shark Tank. He also had technical difficulties allowing some customers to not place orders online.
Johnathan’s deal with Kevin Harrington did not work out so he was forced to continue his journey without the help of a Shark.
Johnathan managed to turn the business around after these difficulties by expanding their business model to include private label and wholesale opportunities.
Element Bars is still in operation in 2022 but its focus has shifted. Now, they co-pack their bars rather than selling them directly to consumers.
Element Bars create private label bars for businesses and aspiring entrepreneurs alike.
Element Bars website states that they started by serving 1,000 bars and have since expanded to merchants across the country.”
Is Element Bars Still In Business?
Following the show, Jonathan Miller successfully negotiated an agreement with Kevin Harrington.
Element Bars sold more bespoke energy bars in the first 24 hours after the event than they did in the first half of the year, despite the website problems.
Furthermore, Jonathan was thrilled that the search term “Element Bars” was among the top three searches on Google that evening, behind only Kayne West and Taylor Swift.
What Is the Net Worth of Element Bars?
The valuation of Element Bars was $1 million when it appeared on Shark Tank. The net worth of Element Bars is above $1.5 million as of 2022.