Quevos Before Shark Tank
Quevos are healthy, keto-friendly chips that are made from egg whites and they’re great for the body. This is a low-carb snack that only contains 4 grams of carbs, as well as 8 grams of protein, and 4 grams of fiber. Quevos are a great substitute for unhealthy, crunchy snacks, and they’re good for diabetics. Additionally, the chips only consist of natural ingredients such as milk, pea protein, coconut, chia seeds, avocado oil, and of course egg whites. As it stands, this snack is available in a variety of flavors such as Quevos Rancheros, Honey Mustard, Sour Cream and Onion, and Dill Pickle.
Founded by Zack Scheier, Quevos was launched in 2018. While he came up with the idea for Quevos, Zack attended William College and studied to gain his Bachelor of Arts degree in Philosophy and Economics. As someone who is a Type 1 diabetic, the founder often struggled to find healthy enough snacks that he was able to eat. He enjoyed chips and other fried snacks; however, due to the amount of salt in them, he ended up going through his medication a lot quicker. Not to mention he had to count every single gram of carb that he consumed daily. With that, Zack became his own inspiration behind creating Quevos, as he became determined to make a salty snack with little to no salt.
The idea for Quevos came to Zack while he was making eggs one day. As the egg progressed, he paid attention to the outer areas that were becoming crispy. This made him think to himself that he could base his new snack on those crispy parts. Zack immediately got to work on his new business venture, and with the help of his sister Carly and his best friend Nick, the trio was able to perfect the recipe in just two years. Not long after, Quevos was being noticed by the Future Founders Pitch Competition and they won a challenge at the University of Chicago’s New Venture Challenge. Additionally, Zack participated in the Kraft Heinz Springboard, where the entrepreneurial trio gained insight into how to run and market the Quevos business successfully. Eventually, with their parents’ permission, the Zack and Nick dropped out of college and started running Quevos full time.
Quevos started with a Kickstarter campaign shortly after being launched. The trio raised more than $70,000 from that event, which they used towards bettering their packaging. Fortunately, the guys were able to keep the business in line after the covid-19 pandemic hit, and it didn’t appear to affect their sales too much. In fact, Quevos has expanded into roughly 1,100 stores throughout the United States including Vitamin Shoppe, Hannaford’s, and Whole Foods. The chips are also being sold on Amazon. Nonetheless, turning a new business within the food industry into a success can be difficult without the right moves. Hence why Zack and Nick are hoping a shark will invest in them and help Quevos take its next big step towards success.
Quevos on Shark Tank
Zack Scheier and his friend, Nick Hamburger, entered Shark Tank in costumes that make it look like they’re riding on chickens. The duo is asking for a $200,000 deal in exchange for a 5% stake in the business, Quevos. The guys start pitching their egg whites chips to the sharks, explaining to them all of the healthy benefits they have. Especially for diabetics. While Zack and Nick tell the investors about themselves and their story, the sharks have samples of the chips to taste. They seem to like them.
Jumping right into the talk of their sales, Zack reveals that the business was started with $70,000 raised from a Kickstarter campaign. After that, in 2019, Zack and Nick did $260,000 in sales. During the time of their appearance on Shark Tank, there was still one more month in the year, but they’ve already done $660,000 worth of sales thus far. Zack and Nick reveal that they believe they’re on their way to reaching $3 million in sales by the end of 2020. They mention that 20% of their sale is from the 1,000+ stores the Quevos are in, while the other 80% of their sales is from online orders. After the pandemic hit, they switched to doing more online sales. They have also decreased their production costs to $2.40 before appearing on the show.
Overall, the sharks seem happy with the sales. So much so that Kevin O’Leary immediately speaks up to offer the guys a $200,000 deal in exchange for a 2.5% stake in Quevos. He also wants a $0.10 royalty until the founders pay back the $400,000. Before they respond, guest shark Daniel Lubetzky chimes in to offer them a $200,000 deal in exchange for a 10% stake in the company and a line of credit for $200,000. Once negotiations conclude, Zack and Nick decide to decline Kevin’s offer and accept Daniel’s offer.
Quevos Now in 2023 – The After Shark Tank Update
Since appearing on Shark Tank, Zack Scheier and Nick Hamburger appear to have turned Quevos into a success. The deal they secured with Daniel Lubetzky has also been concluded; however, the business is mentioned on Daniel’s website, where he has nothing but good things to say about the guys. For instance, the shark has said, “I think they see potential, as I do, for Quevos to grow enormously, but right now their focus needs to be on building what they have and not spreading too thin.” Additionally, Daniel provided Zack and Nick with $1.35 million to put towards building up the business. Based on this, it seems as though Daniel really wants to see the Quevos business succeed and become a nationally known brand. Aside from the extensive help from the shark, the founders also received another $3.6 million that was raised from a variety of additional investors.
Following the guys’ time on the show, they did $500,000 worth of sales in just two weeks and they’re on track to hit an estimated $1 million in sales before or by 2025. With that being said, it’s clear that customers love the Quevos egg white chips. Especially considering the business has reached an average of 4.8 stars and a good 98% of their customers approving the chips. As far as expanding the business goes, Zack and Nick have gotten the snack into 1,500 stores around the nation, including in Canada. The egg white chips can now be found at select GNC, Wegman’s, The Vitamin Shoppe, Whole Foods, and Mariano’s locations, as well as on Amazon and their website. From the update, it’s clear that Zack and Nick will be growing Quevos even further, which customers can now keep up on by viewing their YouTube videos and Instagram posts.