Ashley Drummonds is a personal trainer who went on Shark Tank and served up some of her personal concoction, ABS Protein Pancakes to the investors. They didn’t seem to care much about them until they heard the cost that made them almost choke on the sweet cakes.
ABS Protein Pancakes are gluten-free, all natural, and free from GMO’s yet full of protein and light on carbs. So far they come in three different flavors: cinnamon swirl, chocolate chip, and vanilla cake batter.
Drummonds told the sharks that it costs a whopping $12 to $14 to make a one-pound package and that she retails it for $42.95. Even so, she managed to get a deal done with shark investor Daymond John for $120,000 and 42% equity which was close to what she proposed at $120,000 for 40% equity valuing her company at $300,000.
Before Drummonds went on Shark Tank the business had existed for only 11 months. In the month following the Shark Tank appearance, ABS Pancakes gobbled up more revenue than it had in all of 2015. A San Diego, CA. factory makes the product while Drummonds and her boyfriend distribute it themselves from their Tampa, Fla. home. Drummonds said she hopes to put out new holiday flavors coming in the fall.
Drummonds said she came up with the idea while working in the fitness industry. She would hear clients complain about not being able to find products that actually tasted good and not like eating cardboard. She wanted something that was high protein, all natural but low in sugar. Breakfast being one of her favorite meals she realized there were no pancake or waffle mixes that had less than 35 grams of processed carbs, lots of sugar, and preservatives. So there’s where it started. She then began to make her way on her own journey to solve the problem for herself and for others.
Drummonds says, “There is a huge place in the fitness world with athletes, competitors, and cross fitters who love the ABS Protein Pancakes because of the macro-nutrients that specifically fits their nutritional needs. At the same time, since the product is all natural and gluten free. There is a huge market in the health conscious individual who prefers to stick to a Paleo or all natural nutrition plans as well. Those who suffer from Celiac disease, a gluten allergy, absolutely love the pancakes because most gluten-free products don’t taste great.”
She even started getting calls from Bariatric surgeons and weight-loss clinics who want to offer the ABS Protein Pancakes to their patient because it helps them stay on track long term so there are numerous markets for the ABS Protein Pancake line.
So after lots of research, googling, and numerous visits to manufacturers, she finally found one that could make the pancake mix that matched her formula. The product was launched in July and has taken off since then with orders flooding in. She started, and continues to run this product through numerous ecommerce channels. And btw, according to Drummonds, ABS stands for authentic beauty and strength.
So what do you think are we game?