|
Bee Sweet Lemonade Net Worth |
$5 million |
|
Founder |
Mikaila Ulmer |
|
Founder Date of Birth |
September 28, 2004 |
|
Current Age of founder |
18 years old |
|
Shark Tank Season |
Season 6, Episode 23 |
|
Amount Requested |
$60,000 |
|
Amount Received |
$60,000 |
|
Equity |
25% |
|
Location |
Austin, Texas, USA |
Bee Sweet Lemonade is a business run by eighteen years old Mikaila Ulmer. Bee Sweet Lemonade sells a lemonade that has been sweetened with honey and sugar. Due to a certain copyright issue, though, the business is now known as Me and the Bees Lemonade.
Bee Sweet Lemonade Net Worth or Me and the Bees Lemonade Net Worth
Bee Sweet Lemonade’s net worth is estimated to be about $5 million after the Shark Tank deal.
Bee Sweet Lemonade’s Founder
Bee Sweet Lemonade is founded and is currently owned by Mikaila Ulmer. When she was four years old, Mikaila Ulmer was stung by two bees. Due to her excessive aversion to bees, her mother encouraged Mikaila Ulmer to read and study more about bees to find their place in the ecosystem.
Upon reading and researching, Mikaila Ulmer found out about the concerning situation regarding bees dwindling in population. She was further motivated by her father to develop a new product that she could showcase in a business competition for children, the Acton Children’s Business Fair.
Mikaila Ulmer came up with the idea of Bee Sweet Lemonade and started making lemonades sweetened with local honey. The business was an instant success as Mikaila Ulmer found herself running a full-fledged lemonade business. Some of the revenue generated in the business was also donated to help save bees around the world.
Bee Sweet Lemonade During Shark Tank
Mikaila Ulmer entered Shark Tank with her father seeking $60,000 in exchange for a 10% stake in the business. She introduced her business and the products, telling the Sharks about her interest in saving bees, and how she started the business while she was competing in a children’s business competition.
Impressed by Mikaila Ulmer’s professional pitch, the Shark accepted the free samples from her as she told the Sharks about the sales made last year. Mikaila Ulmer stated that her business made around $25,000 in sales last year.
When asked where the product was being sold, Mikaila Ulmer replied that the lemonades were being retailed in Whole Foods markets. It was stocked in more than thirty locations in four different cities in the United States of America.
In the end, Daymond John offered $60,000 in exchange for a 25% share in the company. Mikaila Ulmer, after giving it careful thought and a quick consultation with her father, agreed on the offer.
What Happened to Bee Sweet Lemonade After Shark Tank Deal?
Since the Shark Tank deal, Bee Sweet Lemonade increased its sales by more than 350%. In April 2016, Bee Sweet Lemonade agreed on a distribution deal with Whole Foods to sell the lemonade in more than fifty-five stores across four different states i.e. Louisiana, Texas, Oklahoma, and Arkansas.
As of June 2022, the company revenues $5million annually. While in April 2023, Bee Sweet Lemonade announced an $11 million distribution contract with Whole Foods.