Do you like eating oatmeal but don’t want the hassle of cooking it from scratch? Well, that’s the thought that led to the development of the brand, Mush Oatmeal. Founded by Ashley Thompson and Kat Thomas, the founders wanted to take away from the hassle of cooking oatmeal from scratch.
With the kind of competition that prevailed surrounding the brand, it isn’t surprising the sharks were quite skeptical about the brand’s success in the future.
If you have been curious as to how well the brand is doing, we have all the insights about Mush Oatmeal in this article.
Shark Tank Mush Update
- Entrepreneurs – Ashley Thompson and Kat Thomas
- Business – Ready to eat Oatmeal
- Ask – $300,000 for 10% equity
- Result – $300,000 for 10% equity
- Sharks – Mark Cuban
The best thing about Mush is the fact that their product is available in different flavors like vanilla, normal and fruit-based flavors too. They have strawberry and cold brew options too, which is quite cool when you come to think of it.
During their pitch, the founders provided samples to the Sharks with hopes to get them on board with how good the oatmeals tasted. All the Sharks appreciated and liked the taste of the oatmeal.
Breaking down the finances, the founders clarified that they have been in business for the last two years, and in that span, they have made $190,000 in revenue. Their products are available via their website and in Whole Foods too.
When looking at the profit margin, the owners clarified that the manufacturing cost for a single pack was $.75 while they sold it for $3.99.
Initially, one of the guest sharks on the show, Rohan Oza was the one that offered the first deal for $400,000 for 20% equity in the company. Lori Greiner backed out because she didn’t think she would be able to contribute towards the company’s growth.
Later, Mark Cuban jumped in and offered the asking price and equity share with an unlimited credit line. Even Barbara decided to counterfeit and offered the same amount and stakes as Mark.
Being offered their asking amount by two Sharks left Ashley and Kat in a state of confusion. After some discussion, the two of them decided to go with Mark’s deal and accepted his offer.
Since their Shark Tank episode, Mush’s revenue has skyrocketed and they even reached $2 million in gross revenue in a year, which ended up bringing the brand a lot of exposure. Besides Whole Foods, Mush is also available in 7-Eleven now.
With how quickly Mush has diversified and expanded its presence in the market, it isn’t surprising that they have managed to spread out its products across North America. In the present date, Mush is one of the most sought after ready to eat Oatmeal brands in the market, and rightfully so.
Currently, we don’t have exact reports regarding Mush’s revenue and the kind of money they are making in annual gross revenue and profitability since they haven’t shared a public report on the same yet.
