Slice of Sauce Update | Season 12
Condiment packets can be annoying. They are difficult to open and make a mess!
Cole and Emily Williams wanted a better way to use condiments.
Will they get a deal on Shark Tank Season 12? Read our Slice of Sauce update to find out!
Shark Tank Slice of Sauce Update
- Entrepreneurs: Cole and Emily Williams
- Business: Dehydrated, sliced condiments
- Offer: $200,000 for 10% equity
- Deal: Alex Rodriguez provided $200,000 as a loan, converting to 15% equity after $1.8 million in sales.
- Shark: Alex Rodriguez
Cole and Emily presented their company, Slice of Sauce, on Shark Tank Season 12 Episode 10.
Their product transformed sauce into sliceable sheets using a dehydration process.
Shelf Life and Pricing Concerns
Each slice lasted 12 months without refrigeration. While the idea stood out, the price raised concerns.
They sold an eight-slice pack for $5.99, positioning it as a premium product.
They emphasized offering flavor and convenience, not just a regular condiment.
Early Challenges
The sharks quickly identified issues.
Cole and Emily launched Slice of Sauce through a 2018 Kickstarter campaign, raising $34,000. However, two years later, they had no revenue.
Production challenges forced them to rely on manual methods. They sought funding to invest in equipment for large-scale production.
Financial Background
They invested $120,000 of their own money and secured $500,000 from family, friends, and a tech accelerator.
Despite their efforts, the sharks doubted the product’s market demand and affordability.
The Deal
Cole and Emily asked for $200,000 in exchange for 10% equity, pitching their product as a mess-free solution for sandwiches.
The concept was simple yet creative—condiments in sliceable form, like a savory fruit roll-up.
The sharks sampled a grilled cheese sandwich made with the slices and enjoyed the bold flavor and convenience.
Instead of patents, they relied on trade secrets and had ongoing licensing deals with brands like McCormick, Stubb’s, and Frank’s.
The product wasn’t available when filming, but they expected $1.8 million in sales in their first year.
Despite having no revenue, guest shark Alex Rodriguez showed interest.
Alex offered $200,000 as a loan, converting to 15% equity if sales reached $1.8 million. Cole and Emily accepted the deal.
What Happened Next?
The deal with Alex Rodriguez never closed, and the company shut down.
Studies confirm that their website is not working, and they have not updated their social media since September 2021.
Although they aimed to revolutionize the condiment industry, they couldn’t.
- We are sharing our last update on Slice of Sauce.
