Lauren Padawer has traveled a long way from Alaska to the Shark Tank. Lauren is the founder of the Alaska Glacial Mud Company, and has come to the Shark Tank seeking $100,000 in exchange for a 20% equity in her business.
Alaska Glacial Mud Company on Shark Tank
As a commercial fisherman, Lauren knows that Alaska is already famous for wild salmon. But some day, she would like to see Alaska just as famous for its luxurious, nutrient-dense glacial mud. The idea for Alaska Glacial Mud Company started during a camping trip as they went down the Copper River. As soon as Lauren stepped in, her feet sank into buttery mud. It was a mind-blowing sensation sensation, so she proceeded to cover her face and body in the most wild spa in the world. After washing it all off, her skin felt soft and glowing. With the help of the Sharks, Lauren can help to bring the Alaska mud into the beauty market and supply it across the world.
Barbara asks the most obvious question, if Lauren is the first to discover the healthy properties of this mud. To Lauren’s knowledge, there are no other Alaskan mud products on the market; Lauren then distributes the products to the Sharks, which contain an assortment of the products that Alaska Glacial Mud Company carries.
Lauren explains that the mud goes through a refining process to ensure quality control, and Kevin asks the necessary question – does the quality control ensure that there is no bear secretion (poop?) Lauren ensures that the mud is the cleanest mud in the world, and comes from one of the most pristine wild rivers in the world – she actually wants Kevin, the fabled Mr. Wonderful, to come up so she can give Kevin an Alaskan Mud facial. Despite Kevin’s protesting, Lauren insists that the mud is extremely pure – Kevin steps up, and Lauren begins to brush on the facial over Mr Wonderful’s tired visage.
Kevin receiving his Alaskan Mud facial
Lori, the expert in beauty products, ask how long the facial mask would need to sit on Kevin; in order to try, it takes about 10 to 15 minutes. The impurities are drawn up out of the skin due to the microfine clay particles, which help to draw out imperfections and damaged skin cells. They also absorb toxins and exfoliate the skin. As Kevin sits down, his face covered with the Alaskan Mud facial mask and the Sharks tease him for his new appearance (likening him to a golem or a mud devil), Lauren continues to explain the details of Alaskan Glacial Mud. The Copper River, which is where most of the mud comes from, comes from a pure and wild place – Copper River Salmon serves as a testament to the purity of the Copper River. Very little modern waste or toxins interact with the Copper River, giving it that truly crisp, fresh taste and helping all the species within it not only to survive but thrive in their home.
Robert asks how the sales are of Alaska Glacial Mud Company, including how products are sold, and Lauren says that to date, there have only been $36,000 in sales for the year – of course, such a low number alerts all the Sharks. Lauren does not have a retail shop, and wholesales the product to spas and all over the world. Lori asks if she most interested in targeting the spas, to which Lauren says that she is primarily targeting the spas but there are a lot of products that people buy for themselves, especially thanks due to the depressed economy. A jar of the product sells for $34, and costs about $3 to make one jar. The margin impresses all the Sharks, but Lori reveals the truth that it can be hard to crack into the spa product market due to there being so few products that spas will reliably carry and endorse. Lori says that she understands that Lauren is having a problem getting in, but there are hundreds of people who want to get in and so few possibly can, and for this reason and from her past experience, she is out of the deal first.
Robert asks how much money and energy Lauren has invested herself, who reveals that she has invested $50,000 from her own savings. However, outside of Alaska Glacial Mud Company, Lauren is also a fisherman primarily around the Copper River, but the fishing season only lasts for 3 months out of a year; Mark points out that it can be so scary for those people, the Alaskan/separated people, to make their living for an entire year in such a short amount of time. On the fishing side of things, Lauren grosses a little over $100,000 per year in just over 3 months of time. All of the Sharks are impressed, and Barb makes the comment that she would like to buy into the fish business. At this point, the Sharks probe Lauren with questions about her fish business. Lauren insists that she’s a risk-taker and that fishing is a man’s world, citing that there are only seven women in her hometown who fish commercially. However, she feels that with the Alaska Glacial Mud company, she can find a new home outside of the fishing market.
Mark speaks up, saying that one of the hardest decisions as a new entrepreneur is making the decision when to grow something organically (just grind it out), or to spend a lot of money and essentially create a surge of capital. Mark continues on, saying that there has to be an organic next step in place for there to be some expansion so that the dots can be connected in the growth. Mark says that Lauren might want to change the name to Copper River Mud Company in order to help leverage any potential deals she may want to make, but for the time being, it is just not a company he would want to invest in. Mark also exits the deal.
Lauren says that Alaska is hot for tourism right now, and that tourists will spend $3 million in 2013 alone on products within the $30 to $40 price range. However, Robert points out that there are other products and anyone walking into a spa doesn’t know the background of the Alaska Glacial Mud Company, and would not instinctively feel the need to him; Robert also says that there are products which enter the Shark Tank and jump out at him and cause him to get invigorated, but the Alaska Glacial Mud Company simply doesn’t excite him. Robert is also out of the deal.
Lauren pleads with the two remaining Sharks, Kevin and Barb, to help her bring the product to the shelves of
A sample of the products that Alaska Glacial Mud Co. carries
Spas across the world. Barb speaks up, saying that she likes Lauren and finds that she has a good story – she jokes that she could see Lauren hanging out with the bears and fishing all day long. However, Barb says that she invested in a company in Nordos in nearly the exact same space of Lauren’s business, a natural beauty product business, and she learned a lot of things about the cosmetics industry. The thing is that it is very hard to be retail and spa, so it would be best to figure out what the market is or else a lot of money is going to be wasted. Barb wishes Lauren the best, but is out of the deal as well.
Kevin is the last Shark remaining, and his facial mask is beginning to set in. Kevin mentions that the most glaring problem he has, which none of the other Sharks brought up, is that anyone can go get mud out of the Copper River and sell it themselves. Kevin asks if Lauren feels it is true that she is subsidizing her successful business, the fishing business, with an unsuccessful one and funding an otherwise failing venture. There is very little profit, and Kevin says that it is not a business but is more a hobby. Kevin points out the ridiculousness in having mud on his face, but otherwise breaks the unfortunate news that he is not interested.
Lauren leaves the Shark Tank without finding an investment in Alaska Glacial Mud Company.
Alaska Glacial Mud Company Now in 2018- The After Shark Tank Update
Alaska Glacial Mud Company is still around in 2016, with little surprise. However, I was unable to find any specifics of the sales, but it can be presumed that Alaska Glacial Mud Company is doing quite well as they seem to have expanded their product line with an addition or two since their Shark Tank appearance in 2013. Reviews as recent as November 13 of 2015 can be found, so Alaska Glacial Mud Company is still quite relevant in the natural beauty game.
