Kevin and Founder of BAM on Shark Tank Season 16
It is no secret that our soil is suffering due to the actions of humans. Paige, the founder of BAM, explains that intensive monoculture farming depletes the soil. We are facing a depletion of nutrients in the soil, which affects biodiversity.
Paige claims her company helps maintain the health of the soil. BAM is a buckwheat-based beverage, a crop that is beneficial to the soil. Hansen was previously a TV reporter interested in agriculture. She sees a connection between journalism and agriculture and believes in asking the right questions.
Will the Sharks invest in her venture and make her journey smoother, like her creamy milk beverages?
About BAM
| Category | Details |
| Founder (Plural if multiple) | Paige Hansen |
| Product Type | Plant-based milk from buckwheat |
| Funding (Pre-Shark Tank) | Self-Funded |
| Investment Asked | $250,000 |
| Equity Offered | 10% |
What Happened on the Shark Tank Episode?
Paige Hansen enters Shark Tank Season 16 with her business that looks after the earth’s soil and saves biodiversity while serving yummy beverages. Paige serves samples to the Sharks and explains the goodness of both her product and its key ingredient, buckwheat.
BAM is America’s first plant-based milk made from buckwheat. Paige founded the company, inspired by her own dairy allergy, to create a plant-based milk. It is primarily sold in Southern California, Nevada, and Arizona. Paige shares that she recently launched BAM in Whole Foods. The product is made with sustainably sourced ingredients. Paige consulted organic farmer Klaas Martens, who grows buckwheat.
Kevin asks for the number of sales as he questions the $2.5 million valuation. Paige shares that she recently started in November last year, and the lifetime sales are $50,000.
Paige is asked about her production and selling price. She makes each bottle for $2.94 and sells it for $4.95 to her distributors. On shelves, the product is priced between $8.29 and $10.99.
Shark Rashaun Williams asks about her profit. Paige clarifies that she is not yet profitable. Rashaun acknowledges the early stage of the business and refrains from criticism, distinguishing his approach from Kevin’s.
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What Makes BAM Unique?
BAM is developed at the Cornell Food Venture Center Pilot Plant. It is made with the insights and expertise of farmers and experts in the matter.
- BAM buckwheat serves creamy and slightly nutty milk beverages.
- It is loaded with antioxidants and magnesium.
- BAM’s labeling clarifies that it is dairy-free and gluten-free.
- It provides 4 grams of protein per 8-ounce serving.
- The company uses buckwheat, which is climate-smart and helps regenerate depleted soil.
- It aims to improve both soil health and consumer health.
- Buckwheat suppresses weeds, prevents erosion, and attracts beneficial pollinators.
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Did BAM Get a Deal on Shark Tank?
After Paige is done explaining her business model, from the reasoning behind the $2.5 million valuation to her projections, sales, and profits, the sharks share their views.
- Kevin says he understands everything about the business and the product. However, he adds that he did not like the taste of the product, which is why he will not invest.
- Mark, known for his best one-liners, shares his advice with Paige. He tells her that her business needs a dedicated community for support. This will help her reach like-minded people who believe soil health is more important than the price. After saying that, he adds that he is out.
- Lori also goes out but wishes Paige well.
- Daymond gives positive feedback. He says the business is too early for him, but Paige is doing great with where her business is.
- Rashaun also says he is out because the business lacks certain elements that he can contribute to it.
Paige returns without a deal but feels more motivated than ever before.
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What Happened to BAM After Shark Tank?
The ‘Shark Tank’ spotlight drove a notable increase in BAM’s digital presence, boosting social media engagement. According to Google Trends, online search traffic has been climbing sharply since the episode.
Where Can You Buy It?
Try out the deliciously different organic beverage and buy it from BAM’s official website. BAM offers three flavors: Original, Hint of Vanilla, and Extra Creamy.
Quick Summary
- Journalist-turned-entrepreneur Paige founded BAM, a plant-based beverage company.
- They serve beverages made from buckwheat. Buckwheat has many beneficial qualities for both people and biodiversity.
- Paige does not secure a deal with the sharks but is still optimistic about the future.
