Entrepreneurs Darien Craig and Brandon Echols pitched their sweet tea business, Y’all Sweet Tea, on Shark Tank Season 16. The company offers a variety of flavored sweet teas, coffee, and seasonings to create delicious beverages.
The idea was born when Darien Craig was fired and received his final paycheck. Using $300 from that paycheck, he bought jars, sugar, and tea to make sweet tea. He teamed up with co-founder Brandon Echols, and together they founded Y’all Sweet Tea on April 10, 2021.
They now need investment to expand their tea brand nationwide and get their products listed in more big-box stores. Let’s find out the latest update on this business.
| Company Name | Y’all Sweet Tea | |
| Founder/Co-Founder | Darien Craig and Brandon Echols | |
| Founded | 2021 | |
| Product | Sweet tea beverages | |
| Asked For | $500k for 5% equity | |
| Final Deal | $500k for 15% equity | |
| Shark | Lori Greiner and Rashaun Williams | |
| Episode | S16 E5 | |
| Air Date | Nov 15th, 2024 | |
| Business Status | In Business | |
| Website | Visit Website | |
| Headquarters | Hayden, Alabama, United States | |
| Annual (Revenue) | $3 Million | |
| Worth / Valuation | $10 Million | |
| Buy and Watch | Buy Now | Amazon Prime |
What Is the Background of The Founder?
Co-founder Darien Craig comes from a marketing background. He earned a BBA in Marketing from Jefferson State Community College. He has worked for a few years at a commercial printing company and TH Marine Supplies Company.
Additionally, he runs an outdoor marketing agency where he manages social media and creative content for clients’ businesses.
Brandon Echols comes from a finance background. He has worked as a licensed agent at New York Life Insurance Company and has also served as a manager at Regions Bank.
Currently, both of them are focusing on their tea brand. They have also partnered with internet personality Brenda Gantt to help their business gain recognition as a tea brand.
Business Pitch Episode Recap
Darien Craig and Brandon Echols asked the Sharks for $500,000 in exchange for 5% equity at a $10 million valuation for their beverage company, Y’all Sweet Tea.
They explained their product and mentioned that to boost sales, they have worked with several influencers, including one of the popular ones, Mama Sue’s Southern Kitchen. Mama Sue, whose real name is Sue Garrett, is a social media influencer and content creator, and she is also part of this Shark Tank pitch.
All 5 Sharks tasted the Sweet Tea and liked its flavor. The company makes each pack for $2.67, sells it wholesale for $4.34, and the retail cost is $7.25. The business has been running for 3 years and has crossed a total of $10.3 million in sales so far. Here’s the breakdown of sales by year:
- In the first year (2021), sales were $1.2 million.
- In 2022, sales grew to $2 million.
- In 2023, sales reached $4 million with a profit margin of 20%.
- In 2024, sales have already hit $3 million, and they project $5 million by the end of the year.
Additionally, 85% of the company’s sales are direct-to-consumer (D2C) through their website. Their product is also listed in 600 grocery stores across the Southeast.
They are planning to expand into big-box stores, and they’ve already discussed testing their product in 500 Walmart stores.
Guest Shark Rashaun Williams made an offer of $500,000 but wanted 10% equity in the company.
Brandon explained that their goal is to boost the company’s sales. Mark Cuban agreed that Rashaun could be a good fit to help with sales, so he decided to bow out of the deal.
Kevin O’Leary and Rashaun Williams teamed up to make an offer of $500,000 for 15% equity. Lori Greiner and Rashaun also teamed up to make another offer of $500,000 for 15% equity. So, Rashaun was involved in three offers: his offer, the one with Kevin, and the one with Lori.
Brandon countered with an offer of $750,000 for 15% equity, but the Sharks didn’t want to go above $500,000. In the end, Darien and Brandon accepted the offer from Lori and Rashaun: $500,000 for 15% equity.
Sharks Offers list!
| Sharks | Offers |
|---|---|
| Rashaun Williams | $500k for 10% equity $250k for 7.5% equity (Lori) $250k for 7.5% equity (Kevin) |
| Kevin O’Leary | $250k for 7.5% equity (Rashaun) |
| Mark Cuban | $125k for 7.5% equity |
| Barbara Corcoran | No Offer |
| Lori Greiner | $250k for 7.5% equity (Rashaun) |
| Founder’s (Countered) | $750k for 15% equity |
| Final Deals | $500k for 15% equity (Lori & Rashaun) |
Y’all Sweet Tea Shark Tank Update
The Sweet Tea brand, Y’all Sweet Tea, was already recognized as a tea brand with the help of social media influencers. However, after appearing on national television, the company expected an increase in the percentage of loyal customers.
Within minutes of the episode airing, thousands of visitors simultaneously visited the company’s website, and many of them likely made purchases.
You can check out Season 16 for more business progress reports.
