Jay’s Pet Butter made a memorable appearance on Shark Tank Season 15. The product was created by famous bodybuilder Jay Cutler and his business partner Brandan Fokken as a way to tap into the lucrative pet care market. They didn’t make a deal, but Jay’s Pet Butter is worth an estimated $1 million.
Founding Story
Jay’s Pet Butter was born from Cutler’s love of pets and Fokken’s expertise in fitness and nutrition. They combined their knowledge to create a nutritious and delicious product for pets of all breeds and ages.
The product was featured for its health benefits and was made from natural ingredients with no artificial additives. Brandon already ran his own peanut butter company called Fokken Nuts Peanut Butter. He loved peanut butter! Cutler’s five million plus followers on Instagram helped him build momentum, but he needed help to take it to the next level.
The product is available at jayspetbutter.com and is currently available in four flavors, such as blueberry, sweet potato and bacon crumble. Prices range from $13.99 to $14.99 for a 16-ounce can. Jay’s Pet Butter is relatively expensive, but claims to be of high quality.
Enter Shark Tank
40,000 companies apply to be on Shark Tank every year and it’s rare to see a celebrity come in seeking funding. Cutler is worth about $30 million, so it’s clear he’s not here for the money! These guys gave a professional presentation and were well rehearsed. They made the right decision to turn down Kevin’s royalty deal because it would have taken too much cash out of the company.
After Shark Tank
Jay’s Pet Butter is expected to see a big boost in sales and brand awareness after its appearance on Shark Tank. When we checked their website, we saw that two flavors were already sold out.
With the publicity from Shark Tank and Cutler’s legion of fans, the company should do at least $100,000 in sales next week. The only problem is how to fulfill the orders since the guys only recently learned that the episode was going to air.
Pet peanut butter may be a niche market, but competition is fierce. According to an article on the three healthiest brands by Doglab.com, Jay’s Pet Butter didn’t make the list, so it has a lot of work to do! Given that they only sell four flavors, the duo will be looking to expand the product line to cater to a wider range of pet dietary needs. The founders’ commitment to quality and understanding of pet nutrition will be key factors in future growth.
For non-pet owners, spending $14 on peanut butter for your dog might seem strange, but some people will gladly spend that much to treat their pets. APPA reports that Americans spent $136.8 billion on their pets in 2022! The brand joins a list of exclusive peanut butter businesses that have appeared on the show, including Nuts ‘N More and Wild Squirrel Nut Butter.
Categories: Shark Tank
Source: svlsf.edu.vn