First Saturday Lime Before Shark Tank
While there may be a wide variety of insecticides out there, not all of them are as eco-friendly or pet friendly as most may want them to be. Most standard insecticides are not safe for pets or even children to be around, as they can irritation or potential harm. Due to this, a trio of entrepreneurs decided to create their own insecticide. A much safer and eco-friendly solution to getting rid of unwanted insects.
Two sisters, Jana and Jessica Jacobs, along with Jana’s husband Zac McDaniel, founded their safe insecticide company, First Saturday Lime. Jana is a restaurant owner, which means she is all too familiar with wanting to keep bugs out of her business. Prior to coming up with their own solution, Jana used to use standard insecticides; however, those contained a lot of chemicals, which wasn’t good for the work place. This determined Jana to work with her sister to find a better way of repelling bugs without all those harsh chemicals.
Growing up, their father had been the owner of a limestone business. He had taught his daughters all about the best ingredient for getting rid of pesky bugs. That ingredient was lime. With that information, they were determined to come up with a bug-repelling solution using lime. Though, they knew the negative effects that lime could have on one’s skin and eyes, and they needed to work around that in their product. Fortunately, they had a friend who is a chemist to help them create the best and safest insecticide.
First Saturday Lime can be used for multiple reasons. Not to mention it’s simple to use as the consumer just needs to spread a layer around the home or any area they wish to keep insects away. With that being said, this solution can be used to keep any potential insects away as well as killing off any insects that are already infesting. Additionally, the name of the product was created as a reminder for consumers to apply the insecticide once a month on the first Saturday.
After launching First Saturday Lime, the sales weren’t doing too well. They were coming in slowly; however, the two sisters didn’t give up hope. They continued to run their business and eventually business improved. Nonetheless, Jana, Jessica, and Zac want to further expand their insecticide business.They’re hoping to get First Saturday Lime on the shelves in some home improvement stores, and they think a shark can help them with that.
First Saturday Lime on Shark Tank
Jana, Jessica, and Zac enter the Shark Tank seeking an offer of $100,000 for a 10% stake in their company, First Saturday Lime. The trio begins pitching their insecticide to the sharks as the sharks view the product. The entrepreneurs go on to mention that, while they do not have a patent for their product yet, they do have a patent in place for their distribution process. They make it known that they need a shark’s help with further expanding their business, as well as some guidance in general.
The trio then begins to bring up their numbers. They explain that each bag of insecticide costs about $1.60 to make and sells for $19.99. Given that, between the time of their launch and their appearance on the show, their business made $150,000 in sales. So far, the sharks seem impressed; however, they are concerned as to why the bags are being shipped for free when they are 20-pound bags. They believe that the trio is losing money by doing that.
Regardless, Robert Herjavec speaks up first. He doesn’t think that their business is ready, he thinks they have more work to do. He goes out of the deal. Following him, Kevin O’Leary goes out as well, stating that he doesn’t want to invest in a product that requires too much education to distribute. Mark Cuban then chimes in to state he is out as well due to him not knowing much about the industry. Just when this may be starting to not look so great for the entrepreneurs, Lori Greiner chimes in with an offer.
Lori likes the idea, and she likes that it’s a safe alternative to other brands. She offers them $100,000 for a 33% stake in First Saturday Lime. Immediately, the trio tries to counter her; however, guest shark Daniel Lubetzky interrupts. Daniel tells the trio that he wants to partner with Lori, otherwise he’s out. Lori thinks that’s a good idea, and they plan to split the stake of 33% between them. Jana, Jessica, and Zac try to counter-offer them for a 20% stake. Though, because their investors would be getting them more sales, Lori and Daniel won’t accept the counter.
Lori chimes back in to tell the entrepreneurs that she is willing to finance any upcoming orders. With that, the trio once again tried to counter for a 25% stake, but Lori declines. This is when Kevin jumps back in to offer the entrepreneurs $100,000 for a 25% stake. Immediately, Jana, Jessica, and Zac accept his offer.
First Saturday Lime Now in 2023 – The After Shark Tank Update
Following the trio’s appearance on Shark Tank, First Saturday Lime appears to be doing great, though the deal with Kevin O’Leary didn’t close. It appears that their opportunity on Shark Tank did however increase their presence. In fact, since the show aired, First Saturday Lime has been featured in USA Today, Pets+, and even Better Homes and Gardens. The company has also been named as an Amazon’s Choice Product and has received many successful 5-star ratings.
As for their goal to expand and further grow their company, the entrepreneurs definitely succeeded at that. They even got their products on the shelves of stores like they wanted. For instance, First Saturday Lime can now be found in around 600 garden stores across the USA, including Home Depot and Walmart. Given that, their yearly sales have reached $500,000, which is continuously growing. As of 2023, First Saturday Lime has a net worth of $1 million.