Lucinda Cramsey wants the Sharks to take a bite out of Moink, her “ethically sourced and humanely raised” meat subscription box, in Shark Tank episode 1015. Cramsey runs the company with her husband, Adam. Moink is a combination of “moo” and “oink,” the sounds their animals make. The native mid-westerners moved back to the heartland after living in New York City and established an organic farm. Lucinda was avoiding pork but Adam wanted pork chops, so he began raising “free range” pigs (like Lucinda’s mother used to). That was the genesis of Moink.
They started talking to other small farmers in their area who raised beef and chicken in the same manner as the Cramseys. Together, they pondered ideas about how to get their kind of meat to consumers. Each of their neighbors didn’t care for the “big agriculture” way of delivering meat to the marketplace. They thought a monthly subscription box would be a good delivery method because it would allow them to plan ahead.
Challenges and Solutions
The problem they encountered was scale. Their three small farms couldn’t sustain a nationwide meat delivery business – they were too small. Size is what makes their meat better. The animals live a more humane existence and are free to roam instead of being raised in small, industrialized pens. Lucinda and Adam reached out all across the country to other like-minded farmers who were “fed up with the hijacked food system” and they launched Moink.
Moink is a subscription box service. They offer grass-fed beef, pastured pork, free range chicken and wild caught fish. Delivery options are every 3, 4, or 6 weeks and FedEx shipping is free in the lower 48 states. Each box costs $159 and has 12-14 pounds of meat in it. It scrubs up to about $13 a pound on average – a little pricey, but not for premium quality.
They’re looking for a Shark to help them realize their vision of becoming “a go-to source for humanely raised and ethically sourced meats for the consumer, as well as an outlet for grass-based farmers to sell their proteins.” Will a Shark want a taste of this business?
Moink Company Information
Video
Posts about Moink on Shark Tank Blog
Moink Shark Tank Recap
Lucinda enters seeking $250,000 for 10% of her business. It’s clear she’s passionate about her business and family farms. She explains that 4 companies control 80% of the meat market in the USA, making it difficult on small farmers. As for her company, she grew from $85,000 in sales in 2017 to $730,000 in 2018.
While the Sharks love her passion and her story, they don’t like the thin margins or the 10% net profit on sales. Lori is a pescatarian, so she goes out. Daymond says he can’t get behind her as an entrepreneur, so he goes out too.Mark has an interest in Echo Valley Meats, so he’s out. Jamie remarks that these Sharks forget what it’s like to be small with thin margins. This pisses Mark off a bit and the other Sharks take offense.
Jamie then offers $400,000 for 20%, more than Lucinda asked for. Lucinda balks, but Jamie says the increased investment will help them scale faster and meet demand. After mulling it over, Lucinda accepts the offer.
Moink Shark Tank Update
The Shark Tank Blog constantly provides updates and follow-ups about entrepreneurs who have appeared on the Shark Tank TV show. The deal with Siminoff did close and the company gets an update segment in season 11, episode 1107. In the update, Jamie visits the farm. It was later revealed Jamie bought a farm in her town. As of June, 2021 the company was on track to do $7.4 million in revenue for the year.
The company gets a second update segment in October, 2023 in episode 1505. In the update, Lucinda says family farms are struggling because they’re being snuffed out by big business. During Covid, things got hard, but Lucinda’s community got together and helped them deliver their products. When there were no workers, community members came and helped. They’re not only still standing, they’re flourishing.
When she pitched to the Sharks, she had $800,000 in sales. Today she has over $55 million in lifetime revenue. She says when she pitched, Kevin scoffed at her 20% margins. They’re still 20% and Lucinda says she carries a healthy bottom line. They moved their shipping facility to a rural community of 97 residents; 22 of which they employ. Jamie says Moink is not only a business, it’s a movement and Lucinda is a force of nature. She cares about the community. They helped build sidewalks and other businesses have opened; they’re even opening a bakery in town and they hope their community will become a model of change for rural America. Lucinda says to change the world, you have to make doing the right thing profitable and she’s living proof.
As of July, 2024, the company is still very much in business and thriving. They now offer gift boxes and annual revenue is $10 million.
Shark Tank Blog will follow up on Moink and Lucinda Cramsey as new information becomes available.
*Editor’s note: I have tried this and the meats are exceptional. Click HERE to order.
