Bleni Blends is bringing a new twist to the vending machine industry. Instead of the usual snacks and drinks, their vending machines sell smoothies and iced coffee. Founders Peter and Stuart Shapiro have struck a deal with Lori Greiner and Daniel Lubetzky. As a result, Bleni Blends is now valued at $3 million.
Shapiro brothers
Peter and Stuart Shapiro are from Wynnewood, Pennsylvania. Peter holds an MBA from Temple University, while Stuart holds a BS from Tulane University. Both had promising careers ahead of them before they started their own businesses.
Peter, who is Tulane’s vice president of enrollment management, and Stuart, an attorney, began working together in 2015, purchasing rental properties. The following year, they launched Robotic Desserts.
Founding of Bleni Blends
With Robotic Desserts, Peter and Stuart gained experience using automation and then wanted to tap into the untapped market of making smoothies through vending machines.
They used their expertise to invent Bleni Blends, a 12-square-foot touchscreen vending machine that makes smoothies in 60 seconds using fresh fruit and dairy-free ingredients.
The product was officially launched in 2019. One of the great features of this product is that it does not accept cash, unlike most vending machines. Their machines only accept credit card payments and operate 24/7, requiring very little time.
Appeared on Shark Tank
Bleni Blends was originally located in the greater Philadelphia area. They allow people to purchase the machine and operate it independently. Some also open kiosks to earn a profit without making a large investment.
Their main locations are gyms, malls, medical institutions, and universities. In some universities, students can pay with campus cards. In order to scale up operations, the founders need more funds. In 2022, Peter and Stuart Shapiro were admitted to Shark Tank after a rigorous application process.
After Shark Tank
The Shapiro brothers were prepared for a big increase in orders when the series aired. The series was very well promoted, as the 14th season averaged 3.5 million to 4 million live viewers on ABC.
Bleni Blends has over 50 vending machines in the United States and Canada, with hospitals being the most popular locations. If you are interested in purchasing a smoothie vending machine outright, it will cost you $30,000. In addition, you will need to purchase the product from Bleni Blends. To be economically sound, the machine will need to make about $2,000 per month.
The company sells frozen drinks in seven flavors for around $5.50. These mixed drinks are also lactose-free, dairy-free, and gluten-free. Unfortunately, there are no customer reviews available online. The founders say they are in an unexplored space after all. Regardless, their startup is worth an estimated $3 million.
It’s too early to tell if Bleni Blends will be a success. One thing that might encourage them is the success of Vengo, a vending machine company that was once on Shark Tank and is now valued at $50 million!
Categories: Shark Tank
Source: svlsf.edu.vn