What Happened To The Kombucha Shop After Shark Tank?
The Kombucha Shop began as a kombucha home brewing solution in 2013. The demand was definitely there, as sales of the fermented tea increased five times to $600 million per year from 2013 to 2015, according to The Columbus Dispatch. With a tart taste, the beverage contains fermented bacteria and yeast, which might not sound appealing to some. However, kombucha has many health benefits; studies show that it contains probiotics, which may improve gut health and might have a positive effect on mental health, per Medical News Today.
The kombucha market is still continuing to grow, with a market size of almost $748 billion worldwide (via Statista). It's projected to make $1.3 million by 2024 with just supermarket sales. It almost seems like the owner of The Kombucha Shop, Kate Field, could see the future when she presented her business on Season 10 of ABC's "Shark Tank," per Shark Tank Blog. According to ABC, the show follows a team of investors as they listen to pitches and decide what companies and products to invest in. Field is just one of the entrepreneurs that have entered the tank looking for a deal.
Kate Field became extremely excited about kombucha
In 2018, Kate Field, owner of The Kombucha Shop, stood in front of the "Shark Tank" investors to present her company, per Shark Tank Recap. The business began around 2013 when Field was working with low-income families to teach them the ins and outs of making nutritious food choices (via The Kombucha Shop). She became extremely excited about the product and in no time at all, she was assembling kits for home-brewed kombucha in a rented warehouse.
According to Shark Tank Recap, her business already had $3 million in sales before she even stepped foot in front of the investors, though this information didn't stop the sharks from being wary at first. The worries faded, and every shark present made Field a deal. After some negotiating, she eventually agreed to an offer from Barbara Corcoran and Sara Blakely. The two split the deal of $200,000 upfront and $150,000 in credit for 10% of the company. Field wanted $350,000 for a 10% stake in her company, so this was almost exactly what she asked for.
A multi-million dollar acquisition
At the end of the show, the curtains closed but the deal never did (per Shark Tank Blog). Ultimately, it doesn't seem to matter, as the publicity from The Kombucha Shop's episode awarded Kate Field with 15,000 orders and a deal with Whole Foods. In 2021, Habib Bakshi bought The Kombucha Shop, which now makes around $2 million annually. The entrepreneur addressed questions about his decision to acquire the company and stated in a press release, "Our health means everything, perhaps now more than ever. The effects of superior brewed kombucha are clear and backed by numerous health experts."
Aside from kombucha home-brewing kits, The Kombucha Shop also sells bottling supplies for kombucha storage, numerous flavorings such as raspberry and mango, a whole line of merchandise, and pouches of tea. It also has supplies to aid with brewing including pH strips, temperature gauges, heating wraps, and tea bags.