BarBees Bartending Update | Shark Tank Season 15
Jess Blakley and Willow Sprague appeared on Shark Tank (Season 15) with an ask of $75,000 for 10% equity in BarBees Bartending.
BarBees offers interactive and celebratory, virtual and in-person mixology classes for bachelorette parties, corporate events, birthdays and other social gatherings.
Will the Sharks see any investment opportunity in BarBees? Find out in BarBees Bartending update.
If you’re in a hurry and don’t have time to read the whole story, here’s a brief overview of what happened to BarBees after Shark Tank.
Jess Blakley and Willow Sprague appeared in Shark Tank Season 15 and got a deal from Daniel Lubetzky for $75,000 for 20% equity against the original ask of $75,000 for 10% equity. In terms of the BarBees update, the company is booking cocktail classes online, and now their services are available nationwide.
| Company Name | BarBees Bartending |
|---|---|
| Founders | Jess Blakley, Willow Sprague |
| Founded | 2020 |
| Products | Mobile mocktail class |
| Ask | $75,000 for 10% equity |
| Deal | $75,000 for 20% equity |
| Sharks | Daniel Lubetzky |
About the Company
Willow Sprague and Jessica Blakley both attended Belmont University, but their academic plans were distinct. Even though Willow studied business and Blakley pursued science, they became the closest friends.
In 2019, they went to a bartending class spontaneously and coincidentally found the idea that a magnificent drink could improve social connections and celebratory minutes at get-togethers.
They opened BarBees Bartending later that year in Nashville, Tennessee, inspired by this concept.
Initially, the company provided mobile bartending services for Nashville-area weddings, parties, and other large private events.
Jess and Willow quickly achieved success with their bartending service by leveraging their love of cocktails and bringing people together.
In 2020, because of the COVID-19 pandemic, BarBees had to shift their business model. They started offering virtual cocktail classes as a way for individuals to learn mixology and associate during quarantine.
This ended up being a brilliant business move, as virtual classes permitted BarBees to extend their services.
To accommodate various occasions and preferences, BarBees Bartending provides flexible booking options. Their top classes include corporate classes and bachelorette classes.
The classes typically last 60 or 90 minutes, during which the group is taught to make two or three cocktails. In addition, they provide in-person classes.
A BarBees mixology class is intended to be fun, instructive, and intuitive. Customers select two or three signature cocktails that they wish to learn beforehand.
BarBees then gives a shopping list of all the necessary liquor which the client buys. The instructor of BarBees brings all of the other essential items, tools and ingredients to the event.
Through their website or a variety of third-party agencies, reservations can be made conveniently. Prices vary based on the type of session and the number of people in it.
Famous cocktail choices incorporate top picks like Mojitos, Margaritas, Old Fashioneds, and French 75s. They also offer non-alcoholic “mocktail” choices.
The expense of a 90-minute class goes from $60-$90 for each person. The cost for a one-of-a-kind date night experience is $100 per person, and it includes a 30-minute lesson. Virtual get-togethers are accessible at $200 for a session of 45 minutes.
Previously, it was just Jess and Willow, and they have now expanded into a group of 25. The estimated net worth of BarBees Bartending is $0.5 million.
BarBees Bartending Shark Tank Pitch
Entrepreneurs Jess Blakely and Willow Sprague pitched their company BarBees Bartending and asked for $75k for 10% equity.
The ladies began by serving their most popular drinks, Rosemary Honey Paloma and Strawberry Oldfashioned, to the Sharks.
Kevin O’Leary asked, “ What are your sales?”
Willow and Jess replied they made $19,000 in revenue in 2019. During the pandemic, in 2020, they switched to virtual classes and earned $38,000.
In 2021, they returned to offline classes, earning $76,000. After that, in 2022, they opened in four cities and made just under $190,000. In 2023, they are expecting $400,000 in sales. Right now, they are available in 7 cities.
Willow explained that corporates and bachelorettes made up the majority of their customers. The income is split between 52% bachelorette, 26% corporate and the rest consists of other get-togethers.
Lori Greiner asked, “What do you need from a Shark?”
Willow proceeded with that $20,000 would be utilized on an automated booking platform. Another $20,000 for upgrading the onboarding of cocktail class instructors. As it takes approximately $5,000 to expand in each city, the remaining funds were required for expanding to even more cities.
Mark Cuban is out because he considered the business would ultimately be too difficult to scale.
Daymond John said, “I don’t want to be in the service industry.” and went out.
Kevin O’Leary said, “You guys are the real deal” to Jess and Willow. However, he is also out because, being a wine connoisseur, he cannot support the mixed drink company.
Daniel Lubetzky has already set up systems that BarBees can utilize. He offered $75,000 for 20% equity.
Lori Greiner refused to invest as well, expressing she couldn’t provide a better offer than Daniel’s offer.
Willow then countered Daniel for $75,000 for 15%; however, he warned that it might increase to 25%. She countered again for $115,000 and 20% value, but Daniel didn’t agree.
At last, the ladies acknowledged Daniels’ offer and grabbed a deal of $75,000 for 20% equity.
Company Update
Since their appearance on ‘Shark Tank,’ BarBees Bartending has earned massive recognition, bringing about an extraordinary rise in popularity and demand.
The organization’s commitment to giving a stand-out and engaging service keeps on driving its prosperity all around the country.
The size of the worldwide cocktail market in 2022 was US $86 million, and this industry is continuously developing, indicating further growth opportunities for BarBees.
In February 2024, this company is operational and doing great business. We are in touch with the founders and update you further.
More updates from Shark Tank Season 15:
Conclusion
Jess and Willow began BarBees with a shared interest in uniting individuals over cocktails. The journey of BarBees through the pandemic and post-pandemic stage was motivating. They digitalized their mixology classes and adjusted to the actual model when required.
BarBees Bartending couldn’t persuade most sharks, yet Daniel Lubetzky offered them a deal. Willow and Jess acknowledged the proposal to support automation, onboarding improvement, and development. It’s for sure that Daniel will assist them with expanding their business.
