“This could be something big.” – Robert Herjavek, Shark Tank Episode 520
So….as we noted in our last blog post, Shark Tank hosted a Kids-Themed Episode this past Friday on ABC. We love Shark Tank and we were especially interested to see how Henry Miller of Henry's Humdingers Honey would do since his business consists of making spiced honey with names like Grumpy Grampa, Naughty Nana, Phoebe’s Fireball and Diabolical Dad. He got shredded by “Mr Wonderful;” Kevin O’Leary, who suggested that this was not a large scale business playing in a small category. In the end, Mark Cuban and Robert Herjavec offered to buy out 75% of Henry’s company for $300k. For a 16-year old entrepreneur that sounds like a pretty good deal. Like all things Shark Tank though, you never really know if a deal is going to go thru. We’ll stay mum on that one till we know more.
TheraBee is not only in the business of creating Culinary Honey™, we have the proprietary Honey Bliss Balls™ and a line of Skin & Body Care that is gaining momentum with athletes. We like our chances and love the fact that culinary honey has now been named an “emerging category,” at least by a famous billionaire. The point for us in watching this episode carefully was to see what the response to a similar product would be in “The Tank.” Robert is right, “creating a new category is a huge challenge”, but like Mark Cuban said, there are always opportunities when you create a new category.
With TheraBee, we are definitely looking for the new opportunity. It’s a risk, a lot of work and a roller coaster of emotions, but we really believe in the product, our brand and the opportunity for us as entrepreneurs. We also love our customers and the many friends of TheraBee who keep us on our toes and give us confidence in our future success.
“I see an idea, I see an opportunity, and I can see the endgame and how it can be enormous.” – Mark Cuban, Shark Tank Episode 520