Lulu Bang is a name that may have caught your attention if you’ve ever watched Shark Tank. Created by Kelly Jorrae and Ashley Beard, Lulu Bang offers a line of sauces that pack bold, unforgettable flavors, and the brand has grown into something special over the years. From humble beginnings to its big break on the show, Lulu Bang has faced its fair share of challenges and triumphs. But just how is the business doing today? And what’s its net worth? Let’s take a closer look at Lulu Bang’s journey and financial story.
The Story Behind Lulu Bang
Lulu Bang was born out of Kelly Jorrae and Ashley Beard’s love for unique, flavorful sauces. Their signature sauces—like the Bourbon Marinade, It’s Just Hot, Asian Persuasion, and BBQ Fusion—offer something different from your everyday condiments. They quickly gained a loyal following of customers who were excited about these new, flavorful options.
Lulu Bang’s Pitch on Shark Tank
In 2016, Lulu Bang’s founders took their products to Shark Tank, hoping to secure a $150,000 investment in exchange for 10% of the business. Their pitch was full of energy, but the Sharks weren’t entirely convinced. Despite their enthusiasm, none of the Sharks decided to invest. However, the exposure was invaluable, and it set the stage for Lulu Bang’s growth.
Here’s a quick summary of how the pitch went:
| Aspect | Details |
|---|---|
| Investment Sought | $150,000 for 10% equity |
| Key Products | Bourbon Marinade, It’s Just Hot, Asian Persuasion, BBQ Fusion |
| Sharks’ Response | Concerns about scalability and distribution challenges. |
| Outcome | No deal, but huge exposure for the brand. |
Even though the deal didn’t happen, the exposure from the show gave Lulu Bang a huge boost and led to increased recognition in the marketplace.
How Lulu Bang Is Doing After Shark Tank
Post-Shark Tank, Lulu Bang didn’t just sit back and relax. Instead, the brand rolled up its sleeves and worked hard to expand.
| Aspect | Details |
|---|---|
| Founders | Kelly Jorrae and Ashley Beard |
| Signature Products | Bourbon Marinade, It’s Just Hot, Asian Persuasion, BBQ Fusion |
| Shark Tank Appearance | Season 8; Sought $150,000 for 10% equity; No investment secured |
| Retail Expansion | Available in ShopRite and other retailers |
| Online Sales | Available through the official Lulu Bang website |
| Revenue | Estimated annual revenue between $1 million and $2 million |
| Pricing | Increased from $3.99 to $7.99 per jar |
| Pop-Up Restaurant | Lulu Bang Burgers and Wangs in Philadelphia |
Here are a few key steps they took:
- Retail Expansion: Lulu Bang products are now available in major retailers like ShopRite, making it easier for customers to find and buy their favorite sauces.
- Online Sales: The brand built a strong online presence, offering its products through their own website, which helped them reach customers beyond the local market.
- Pop-Up Restaurant: In a bold move, Lulu Bang launched a pop-up restaurant, Lulu Bang Burgers and Wangs, in Philadelphia, where they served up their signature sauces in a fun and interactive environment.
These steps helped Lulu Bang grow and gain new fans, despite not securing a deal on Shark Tank.
Also read: Click and Carry Net Worth: From Shark Tank to Success
Lulu Bang’s Net Worth
When it comes to financials, Lulu Bang isn’t a publicly traded company, so exact numbers are hard to pin down. However, it’s estimated that the brand is bringing in somewhere between $1 million and $2 million in annual revenue. A big part of this growth has been due to their pricing strategy. The price of a jar of sauce, which started at $3.99, has increased to $7.99, showing the premium value people place on their products.
While the company doesn’t share its net worth publicly, it’s clear that the brand is doing well, especially considering its growth in retail and online sales.
Looking to the Future
What’s next for Lulu Bang? The brand has shown no signs of slowing down. While it’s unclear exactly what their next big move will be, it’s safe to say that they’re poised for more growth. Whether it’s expanding their product line or opening more pop-up restaurants, the future looks bright for Lulu Bang as they continue to win over more fans with their creative flavors.
Conclusion
Lulu Bang’s journey from Shark Tank to today is a story of perseverance and growth. While the Sharks didn’t take the bait, the exposure from the show gave the brand a significant push forward. Since then, Lulu Bang has expanded into retail, grown its online presence, and even opened a pop-up restaurant. With a loyal following and a unique product line, Lulu Bang’s future looks promising. If you haven’t yet, it might be time to try one of their bold sauces for yourself.
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