Keisha Smith, the creator of Sanaia Applesauce, gave the world a new and delicious kind of applesauce it had never tasted before.
Apples are pureed and cooked down into a delicious sauce called Sanaia Applesauce, which is intended for consumption by adults. According to the company’s founder, every commercially available sauce is marketed specifically for children. In contrast, Sanaia Applesauce is made for mature palates.
Sanaia Applesauce
Due to the prevalence of kid-oriented brands, Sanaia Applesauce set out to fill the void in the market by developing an applesauce designed specifically for adults.
The Sanaia Applesauce is made using one or two baked green apple wedges per jar, which are both healthy and tasty.
One or two baked green apple wedges are included in each jar of Sanaia Applesauce. On Season 10 of “Shark Tank,” she is looking for a $150,000 investment in exchange for 15% of her food company. Four 7.75-ounce jars of Sanaia cost $19.99.
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Before Shark Tank
Keisha was up on a Bahamian island, where she became familiar with local herbs and flavours. After being sick at the University of Virginia, she attempted to prepare her first batch of applesauce since leaving home.
She threw together a fruity concoction, reviving a childhood memory by blending together a variety of fruits. Having no prior experience in business, Keisha had no plans to launch her own company. She started doing it on the side because she enjoyed the challenge and wanted to eat well. Her interest, however, quickly blossomed into a fervour, which ultimately led to the success of her enterprise.
She started out by blending together basic fruits like apples and guava to make her first pot of applesauce. Keisha quickly began scale production of Sanaia Applesauce with a personal investment of $500,000. Keisha’s applesauce drew a lot of attention because of its paradisiacal flavour.
After quitting her work as a human resources executive and putting her savings into Sanaia Applesauce, Keisha became financially dependent on her family. In order to enhance the production and distribution of Sanaia Applesauce, Keisha decided to approach Shark Tank in hopes of gaining the necessary financial support.
Who Created Sanaia Applesauce?
Sanaia Applesauce was started by Keisha Smith-Jeremie. Keisha founded Sanaia Applesauce after serving as the head of human resources at News Corp and the Managing Director of Global Co-head of Talent Management at Morgan Stanley.
How Sanaia Applesauce Fared on the “Shark Tank”?
When Sanaia Applesauce creator Keisha Smith Jereme approached the ABC show Shark Tank for funding, her company had been in operation for only nine months. Keisha was featured on Season 10 Episode 2 of “Shark Tank.”
Keisha made an appearance on Shark Tank to ask for a $150,000 investment in exchange for a 15% ownership in her company, Sanaia Applesauce. She begins by telling the sharks her backstory.
Keisha revealed to the sharks that the product had only been put through a six-month trial run through direct sales to consumers. About $40,000 in sales were earned during that time period.
Keisha speculated that the majority of purchasers were people looking to switch to a healthy, plant-based diet. She only loses $4 on each jar of Sanaia applesauce she makes, but she can make over $42 on each set she sells.
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Keisha thinks the price is fair for the organic applesauce recipe, but Kevin O’Leary was concerned that it seemed too expensive. The investors were interested in how much she had managed to scrounge for her organic applesauce brand.
Keisha replied the sharks quickly and told them she had invested $250,000 to get her business started.
Lori Greiner pulled out of discussions before Keisha could respond because she did not think the investment was a good fit for her.
Similarly, Robert Herjavec bowed out because he disagreed with the presentation, notably its assessment of the product’s success at trade shows. Barbara Corcoran warned Keisha that if she made an offer, it would probably be offensive.
She made a decision to manifest it verbally and offered her $150,000 in exchange for 75% of the business. Keisha’s quick rejection prompted Barbara to walk away from the table.
Kevin expressed his concerns and ultimately decided to pull out of the venture due of the high risk involved. Keisha knew that her last chance to close a transaction was with Mark Cuban, and despite his doubts, he was still interested.
Keisha said she was fine with his offer of $150,000 for a 25% interest. At first, Keisha turned down Barbara’s offer of $150,000 for a 75% share of Sanaia Applesauce. Mark made Keisha’s second offer of $150,000 for a 25% stake in Sanaia Applesauce, which she accepted immediately.
After Keisha’s appearance on Shark Tank, Mark Cuban invested in her Sanaia Applesauce business. Mark Cuban complained that the jar packaging was more expensive than the paper cup packaging, suggesting that she should switch to the latter in order to maximise profit.
Net Worth
Before appearing on Shark Tank, Sanaia Applesauce had a valuation of $1 million. Since Sanaia Applesauce didn’t return until 2022, following the COVID pandemic, nobody knows how much money the company is worth at this point.
Recent Developments in Sanaia Applesauce
Keisa’s appearance on the Shark Tank show prompted her to leave her position as a human resources executive. Keisha moved on to a position at Tory Burch and stopped paying attention to Sanaia Applesauce.
In 2020, the Sanaia Applesauce factory shut down because of the widespread COVID-19 virus. But in a February 2021 interview with CNBC, Keisha revealed her intentions to revive Sanaia Applesauce production.
You can get your hands on some tasty Sanaia Applesauce at any Walmart, both online and in-store.
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Frequently Asked Questions
Which Shark Has Had the Least Success?
Barbara has made fewer than 20 deals across the 11 seasons of Shark Tank. For every successful deal, roughly as many have fallen through, according Forbes. As the least wealthy of the primary sharks with a net worth of $80 million, her reluctance to invest is reasonable.
Can You Buy Your Way into “Shark Tank?”
While the judges of “Shark Tank” do receive compensation for their time, whatever money they put into an episode is their own. The entrepreneurs, on the other hand, make a deal with a handshake if one of the panellists is interested. But if no one on the panel wants to help, the entrepreneur is out of luck.
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