LoliWare on Shark Tank
|Loliware Edible Cups receiving valuable advise from|
Marcus Lemonis before
appearing on the Shark Tank Episode 702
The entrepreneurs behind the Loliware Biodegradable edible products is Chelsea Bringanti and LeAnn Tucker, who'll both appear on the next Shark Tank Episode 702 this Friday night. Exactly how they came up with the idea making edible cups goes all the way back to entering a Jell-O contest in 2010. Sure, lot's of decorative molds have been created for Jell-O, but these two Industrial Designers took the challenge to a whole new level. The result was a fully functional disposable drinking cup that's 100% biodegradable and 100% edible using all-natural ingredients. Soon you'll be able to have your cake and eat the plate too.
After dominating the Jell-O contest with their new edible invention, Chelsea and LeAnn took the Loliware cups to Kickstarter raising over $10,000.00 helping to kick start this a soon-to-be Shark Tank product. Interestingly, the only pledge you could receive the Loliware Edible Cups was the highest pledge set at $500. For only $500 you'd receive ten custom edible cups to host you own sustainable party. Though no one took them up on that offer, they still managed to reach their $10,000 goal.
One of my other favorite Sharks Marcus Lemonis, who's not on the Shark Tank, but has his own Show called The Profit, evaluated the Loliware Business on a CNBC Special in August 2014. Personally I think Marcus would make an excellent Guest Shark Tank Investor someday, especially seeing how he handled this brand new startup at that point and time. The Loliware edible cups is now the "first official product" tying both my favorite #1 and #2 Business Reality Shows together. But surprisingly, I have to disagree with Marcus Lemonis with his suggestion focusing more on the biodegradable aspects and less on the edible appeal. There's countless biodegradable products on the market, but not many you can eat and taste's good too. By combining the two major positives focused on "specialty niche's" seems like a clear winner for the Loliware edible products.
Take for instance Children's Birthday Parties where not only the "themed" cups are edible, all the plates and silverware are as well. The kids wouldn't care if the Loliware is biodegradable, but eating all the utensils tasting like a fruit roll-up treat, now that's something they'd all enjoy and insist on having at their own birthday party.
The Loliware might have started with an edible cup to prove the concept, but the opportunity creating other functioning edible products is simply mind-boggling. What other biodegradable and edible products would you like to see on the market?
Watch LeAnn Tucker and Chelsea Briganti this Friday night on a Brand New Shark Tank Episode 702, and see if the Loliware Edible Cups gets a deal with one or more Sharks.