Did Lori Say MagicDates Should Be Shot Behind A Barn? | Shark Tank US | Shark Tank Global

Diana Jarrar is seeking $150k for 10% of her company Magicdates.

From Season 13 Episode 16

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Did Lori Say MagicDates Should Be Shot Behind A Barn? | Shark Tank US | Shark Tank Global
https://www.youtube.com/channel/UCREgA-BmOocJ9Is_bZV6aJQ

[Applause] next in the tank is a business based on an ancient [Music] treat hi sharks my name is Diana Gerard I’m originally from Damascus Syria and I’m here seeking $150,000 in exchange for 10% equity in my company growing up in the Middle East my beautiful home land had everything to offer Under the Sun including a sweet and indulgent treat all you had to do was pick it from a palm tree sharks I’m talking about the date fruit these sweet resilient and wrinkly treats nourished my body and spirit with each and every single bite and that’s how magic dates was born we’ve taken Divine dates and Blended them with crunchy walnuts cacao nibs coconut and get this we covered them in Rich 100% dark chocolate and when it comes to our satiating treats you can say no to added sugars no to Dairy no to gluten and yes to real whole flavorful Foods sharks I’m on a mission to bring my homeland’s ancient secret ingredient to the world so will you join me on a magic Journey with magic dat in front of you are delicious treats to try for yourselves and nourish your bodies or as we say back home which is the most popular so the uh triple chocolate Crunch that’s the one I went for first chocolate on chocolate on chocolate H is good oh wow the Lush lemon one is fantastic that’s my one of my favor I the triple uh chocolate di how many calories so in our original line that’s not covered in chocolate per serving that’s two bytes is 100 calories and the chocolate coverage variety is 120 calories is that a lot that sounds like a lot so here’s the thing nutrient density is a lot is about a lot more than just calories these are no added sugar and they’re choke full of fiber which we are a fiber deficient country and in just one serving of magic dates you’re getting 15 to 20% of their daily recommended value of fiber how did you get into this business I I have a bit of a path but I’ll start at the end for you mark because point of inspiration for me was actually one of your entrepreneurs so several years ago before I started magic dates I had taken my outside I was on my way to law school and a friend of mine approached me to help him help an entrepreneur come up with a vegan recipe for her paleo Ice Cream Sandwich Company Frankie Frankie yeah and di just real quick so everybody knows yeah Frankie came on two seasons ago with coconut girl which were these amazing ice cream sandwiches that were healthy for you and so she’s doing great we just sold part of the company she’s doing so well that’s incredible so I met Frankie I went to her kitchen I told my friend you have me for a couple of months I’m applying to law school I’m going to study international human rights law and I just fell in love with this it was like a whole new world had opened up to me and you know going back a little bit further when I moved on my own to La when I was 19 food became a connector for me I learned how to make all my mom’s best Arabic food recipes and I would invite friends over and that’s how I would connect with them and that’s my intention with magic dates and really dates are the perfect vehicle because as you may know they have a history in the Middle East of thousands of years of cultivation and they came here just 100 years ago an agricultural Explorer brought 11 shoots from Morocco and they thrived in Coachella Valley cuz it was so hot and dry and that’s why we have 95% of the crop being grown here in California learn something new on Shark Tank every day give us an idea of what’s going on in distribution sales margins Etc yeah so it was a completely Grassroots effort I launched at the farmers market and in 2018 I got into the first 30 doors here in LA and what were sales in 2018 so in 2018 $330,000 and then in 2019 we did $100,000 and then 2020 we did 136,000 so that was up 30% this is all retail at this point this is all retail so that’s there’s nothing direct to Consumer we did very little direct to Consumer cuz I was just not focusing my resources and Dana this year what are you tracking at this year we’re projecting to close at $175,000 that’s interesting and what do these cost you never told us what they sell for and what they cost so the cost out of the manufacture out the door landed is $160 and they retail between $4.99 and $5.99 oh your margins are great yeah we have 42 to 48% margins and we are focusing more on directed consumer now and what I’d like to share with you I think this would be a good time to reveal a bit of a secret what are you what are you holding back we have been marketing under a different um look would you like to see it sure hair sorry these are the old no these are the new okay I’m going to show you the Gary bags all right let’s see the old thank you thank you thank you I realized that with our old branding and packaging and and messaging we weren’t quite hitting the values what upgraded your packaging and and is it proven to give you better sell through you’re literally the first people to to be holding it in your hands I actually like this packaging better you see what it is it’s light and Magic dates pops really well I agree with laor I like the old packaging better for the same reasons but when you change packaging it’s never an indication that sales are booming right it’s an indication like okay they’re not where we want them to be let’s let’s try to do something yeah right and so while I think it’s a good product there is just not that one thing that’s in the headline that just says I have to try so for those Reasons I’m out okay good luck and congratulations appreciate it thank you so much yeah Dan you’re definitely on Trend but as an investor I I don’t see the growth or the early hit I don’t see the Catalyst right now I’m out dates are really not my space it’s just not something for me at the moment I’m out thank you Damon appreciate it you know Diana you gave up international human rights law that is something so needed and so important and in this Arena there’s tons of dat likee products and treats I’ve seen lots of them if it were me I I would say I think the other career path is something that was really just so important and something you’d be so great at Lori grineer is saying to walk away from your business and take it out behind the barn I honestly I honestly am saying go with your passions do what you want but I feel because this is such crowded space I’m sorry I’m out thank you laori I really respect your feedback di it’s very impressive your passion is clear obviously I have um a similar background being half Lebanese so I’m very familiar with the region and you’re very impressive um I’m sorry but I’m underwhelmed with the sales I’m you know I was actually sitting on the fence trying to figure this one out we’ve been at Whole Foods for almost over a year now and it moves really well there I’ve reshift Focus this year so instead of going out to get more retail accounts I wanted to approach the digital marketing and earm space I get it but this is such a tough slog I mean I love your story and eat dates I understand the merits of them I get it yeah I’m just having a real hard time with it you know I’m going to make you an offer commencement with the risk 150,000 for 33 and a3d it’s like a third of the business yeah that’s actually not horrible that’s not a bad offer I don’t want to give up a third of my company I came in here like don’t give up a 30-year company cuz the thing is I have to also value what I know I can do and I know that that’s not not something you may see yet I do I’m sorry I look it has to be you know at the end of the day I got to go to work this is It’s a brutally competitive space dates are a commodity it’s tough It’s really tough a commodity but there are new ways to to represent them nobody has covered dates in% dark chocolate you have an offer would you do 150,000 for 20% no would you meet me at all in the middle no you’re completely from on 33% 33 and a third third oh that’s really tough I really cannot give up that much of my company because again I believe what to you really have to think this through you don’t have a great story on Revenue okay I’m sorry I’m telling you the truth I agree I agree I you know this is a this is a flyer for me and I’m willing to help you out and I’m willing to get behind it I do not put my name on deals to fail okay I don’t do that then I’m not going to be flexible in terms of what I want I want a 33 and a3d you going to help us blow it up Mr Wonderful no I’m going to help you fail after I give you 150,000 of course I’m going to do that okay okay yes yeah let’s freaking do it you don’t make me regret this okay can we hug don’t make me regret this thank you appreciate thank you so much all for your feedback and time I appreciate you take care bye thank you congratulations oh Mr Wonderful is incredible I think 70% of something big is better than 100% of something really really small and I want to work with Mr wonderful he was my number two choice but he’s my number one now 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