Soupergirl Shark Tank Update – Shark Tank Season 10
Marilyn and Sara Polon Cook Up a Deal for Soupergirl on Shark Tank with Their Fresh, Vegan Soups.
Marilyn and Sara Polon want to cook a deal for Soupergirl, their fresh soup company, in Shark Tank Season 10 Episode 3. The mother/daughter team started their business back in 2008. They currently have two brick-and-mortar retail locations, a home delivery service, and retail distribution. Soupergirl is in over 50 Whole Foods and other natural-goods stores on the East Coast and 20 Costco stores from Massachusetts to D.C.
Check out other Shark Tank Season 10 Episodes.
About Soupergirl
| Category | Details |
|---|---|
| Business Name | Soupergirl |
| Founders | Marilyn Polon, Sara Polon |
| Industry | Food, Health |
| Product | Fresh, vegan soups |
| Investment Asked | $500,000 for 10% equity |
| Deal Status | No Deal |
| Valuation | $5 million (at the time of the Shark Tank pitch) |
Sara, a former standup comic, started eating vegan a number of years ago. That’s what inspired her to start Soupergirl. All the soups are vegan. Flavors like black bean sweet potato chili, split pea rosemary soup, zucchini chickpea bisque, tomato gazpacho, and more will appeal to almost any palate.
Sara and her mom, along with 30+ employees, cook “thousands of gallons” of soup each week. They cook them up in small batches—about forty gallons at a time. They sell their soups in individual containers at their retail locations and as part of their Soupergirl meal programs.
A program contains either 12 or 20 soups. You can pick your own or let them do it for you. Programs can be one-time deliveries or set up as a regular monthly option.
Prices range from $6.70 to $8.25 per meal, depending on the amount of soup ordered and the frequency of delivery. While profits are important to Sara and her mom, Sara is trying to “change your palate.” They “source responsibly” for all their ingredients. Sara wants to grow the business to have Soupergirl in every state. She’s hoping a Shark will like her soup.
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Posts about Soupergirl on Shark Tank Blog
Soupergirl Shark Tank Recap
Marilyn and Sara enter the Tank seeking $500,000 for 10% of their business. They tell the story of how they started and give their pitch. After that, they feed the Sharks some soup. Sales in 2016 were $1.4 million, and in 2017 they were $2.4 million. This year (2018), they project $3.8 million.
Margins are low, though – only 5%. This is largely due to them not using co-packers and making the soup themselves. Sara is committed to that due to the kosher aspect of the soups.
Did Soupergirl Get a Deal on Shark Tank?
Mark thinks she’ll keep needing more money; he’s out. Kevin thinks the business is worth $750,000 now, less the debt, which is “a hundred and change;” he’s out.
Daymond says she’d need to do $100,000 to get his money back; he’s out. Matt says the other Sharks are being too dire, but he still goes out. Lori thinks the company logo and name are great, but the margins are no good; she’s out.
Soupergirl Shark Tank Update
The Shark Tank Blog constantly provides updates and follow-ups about entrepreneurs who have appeared on the Shark Tank TV show. Just a few weeks after they taped their segment in June 2018, Matt Higgins called them and offered to be an adviser.
Higgins told The Washington Business Journal, “I have my own criteria for what I will invest in and what I won’t invest in, but just because something is not personally investable to me does not mean it’s also not a tremendous product with phenomenal potential.”
In 2019, revenue was nearly $6.5 million. Thanks to the COVID-19 pandemic, 2020 sales flattened, and she closed her brick-and-mortar stores in Washington, DC.
In September 2020, she did a $2 million funding round with Chevy Chase, Maryland-based Arborview Capital, Honest Tea founder Seth Goldman, and Glen’s Garden Market founder Danielle Vogel. She wants to expand her production kitchen to triple her direct-to-consumer business in the first quarter of 2021 and expand her grocery store presence.
More Growth
As of June 2021, Soupergirl is in Whole Foods Markets in the greater DC, Philadelphia, Pittsburgh, and Richmond areas, and several smaller chains like Dawson’s and Yes Markets.
In August 2021, Sara was one of five winners of Kroger’s first “Go Fresh & Local Supplier Accelerator,” a competition that attracted over 1,000 entrants. Winning the Shark Tank-style competition means she’ll have her Soups in Harris Teeter stores and Kroger’s in the first quarter of 2022.
In March 2022, Kroger and Harris Teeter began selling the soups in their stores. They also redesigned their websites and can now ship soup anywhere in the eastern US.
Also, in 2022, Soupergirl received a Fair Food certification indicating that food grown on farms the company purchases treats workers well and doesn’t violate their human rights. In March 2023, the company closed its last brick-and-mortar location in Takoma, DC. It moved into a larger production kitchen to focus on preparing soups for its over 500 retail outlets. Soupergirl’s net worth in 2022 was over $20 million.
As of August 2024, the company’s annual revenue is $9 million, and its valuation is $30 million.
Where Can You Buy It?
Soupergirl soup is available for purchase on their official website and also on Amazon. Check out their social media for more recent updates on pricing, including Facebook and Twitter.
Quick Summary
- Marilyn and Sara Polon pitched Soupergirl on Shark Tank, seeking $500,000 for 10% equity.
- Soupergirl offers vegan soups in retail locations, home delivery services, and over 50 Whole Foods stores.
- Despite not securing a deal, Soupergirl has grown significantly, reaching a $30 million valuation and $9 million in annual revenue as of 2024.
Check out the updates of other businesses that appeared on Shark Tank Season 10, Episode 3.
