Brass Roots Net Worth 2023 – What Happened After Shark Tank
Brass Roots is a brilliant, clever, and witty brand with so much potential – but did the Sharks think the same?
Aaron Gailmor, CEO, and founder of Brass Roots, decided to expand his opportunities and appear on Season 14 of Shark Tank.
Gailmor went onto the show hoping to secure $400,000 for 7% equity. Let’s look into who they are, how the pitch went, and where they are now.
What Is Brass Roots?
Brass Roots is a healthy snack alternative whose main ingredient is Sacha Inchi Seeds.
Their snacks are keto-friendly, vegan, plant-based, and have a low fodmap.
The company produces a variety of snacks, including Crunch Puffs, roasted Sacha Inchi Seeds, and even butter! The company has partnered with farms in Thailand and Laos for their specialty seeds, Sacha Inchi.
Sacha Inchi Seeds have become Brass Roots’ main ingredient because of their health properties, including their high protein content, fiber, and omega-3 fatty acids.
The snacks are sold on Amazon, ranging from $14,99-23,99 but are also available at various outlet stores, such as Whole Foods, Sprouts, and more.
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Who Is The Owner?
Aaron Gailmor is the founder and CEO of Brass Roots, which began in 2019.
The story of how the company started is quite a harm warming. Aaron’s father had a heart condition that affected his health – taking this personally, Aaron decided to learn about nutrition and how it could help his father.
During his endeavor to learn about nutrition, Gailmor came across Sacha Inchi Seeds, and so Brass Roots was born.
What Happened During The Pitch?
Gailmor appeared on the Tank asking for $400,000 for only 7% equity. He used his pitch to introduce Sacha Inchi Seeds and how he uses them in his product.
Kevin O’Leary was one of the first sharks to ask about the company’s finances. Although the company is not making a profit, it sold $35,000 worth of products in 2019, $250,000 in 2020, and $500,000 in 2021.
During the show airing, Gailmor mentioned how they spent at least $20,000 per month and had only $100,000 active cash in the bank.
Daymond jumped in, stating that $17,99 for a lightly salted snack is expensive but didn’t disagree that he would use the product.
At the time, the company’s valuation was $5 million, with Aaron being only 33% owner of the company.
Unfortunately, it was a domino effect of Sharks leaving from there. After some evaluation, Kevin decided he was out, and Mark Cuban believed Gailmor’s margin was much less, so he was out.
Lori thought the critical ingredient needed to be more well-known for it to sell well, so she pulled out. Lastly, Daniel Lubetzky didn’t believe the business wasn’t a suitable investment at the time.
Although Gailmor asked for $400,000 for 7% equity, he did not secure a deal from any Sharks.
However, the company is still in business as of January 2023 and is slowly expanding to more health-food retailers.
Customers can continue to purchase the snacks online or in certain outlet stores.