Entrepreneurs Josh Belinsky and Manny Lubin took their Slate health drink business to the sharks in ABC Basin to see if they could invest in their business.
Slate is a company that produces healthy drinks; it produces a chocolate milk of the millennium. Entrepreneurs claim that their lactose-free chocolate milk is rich in proteins, vitamins and electrolytes and also tastes great.
Belinsky and Lubin have presented their cases to sharks Mark Cuban, Barbara Corcoran, Kevin O’Leary, Laurie Greiner and host shark Rohan Ose. This is Oza’s last performance in season 11 of the show.
Here’s what you need to know about powdered milk:
1. Both founders cannot tolerate lactose
Neither Belinsky nor Lubin can tolerate lactose, so they needed lactose-free milk, better than the YooHoo they remember drinking as a child.
The two founders studied together at Northeastern University and came up with the idea of inventing chocolate milk to drink and enjoy. Because no one else was doing it at the time, they decided to do it themselves.
The entrepreneurs searched for competitors or other companies that produced lactose-free chocolate milk, but found only unhealthy sweetened drinks, which led to the creation of Slate.
2. They offer three different flavours
At the time of writing, slate milk is available in three different flavours, all supplied in aluminium cans.
Modern flavours – classic chocolate milk, dark chocolate milk and chocolate espresso. Each fragrance can be purchased online in 12 packs and sold for $35.99.
If someone wants to try all the flavors, not just one, he can buy a 12-pack with four cans of each milk flavor, which is also sold for $35.99. There is also a subscription option available, which lowers the price to $29.99 per 12-pack.
3. Milk produced on family farms
Slate milk comes from 30 family farms in the United States.
According to the website: We buy milk from 30 family farms here in the United States. These farmers take care of their animals. This means that they fully comply with the requirements of the AWA (Animal Welfare Act) and ensure that the cows are properly fed!
After receiving the milk, it is extracted, filtered, mixed, canned and heated during production.
4. Your milk is a low-sugar variant.
Before the slate milk is preserved, it undergoes a natural process called ultrafiltration, in which the natural sugars from the lactose are filtered into the milk.
Each can contains 17 grams of protein and 120 calories per portion of milk, as well as 75% less sugar than traditional chocolate milk.
All three flavours contain 9 grams of sugar per serving and all three contain at least 8 grams of added sugar. According to the Slate Milk website, plain chocolate milk contains 37 grams of sugar per portion.
5. They were financed by theKickstart Campaign .
Like many shark aquarium products, slate milk was financed by the Kickstarter campaign. The campaign promised chocolate milk, that less sugar, more protein, lactose free, will be delivered to the door.
The project had a modest goal of $10,000. The total cost of the project was USD 51,833 and they exceeded this amount by purchasing a total of USD 51,833. The number of supporters is $1,179. The company started operations in 2017, although the founders needed a delay until May 2018 to start operations and become fully functional.
In December 2018 the products were ready and in February 2019 they launched the Kickstarter campaign to fill pre-orders from summer 2019 onwards. In the autumn they plan to launch new flavors, although they are still missing at the time of writing this article.
Turn on 13. May 2020 at 22.00/9.00 at the phone of the ABC centre in the shark tank to find out if sharks are interested in this chocolate company.
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