Jay's Pet Butter made an unforgettable appearance on Season 15 of Shark Tank. The product was founded by famed bodybuilder Jay Cutler and his business partner Brandan Fokken to tap into the lucrative pet care market. They didn't make a deal, but Jay's pet butter was worth an estimated $1 million.
Founding story
Jay's Pet Butter originated from Cutler's passion for pets and Fokken's expertise in fitness and nutrition. They combined their knowledge to create a product that provides nutritious and delicious food for pets of all breeds and ages.
The distinguishing feature of this product is its health benefits and it is made from natural ingredients without any artificial additives. Brandon already runs his own peanut butter company called Fokken Nuts Peanut Butter. He is obsessed with peanut butter! Cutler has helped them build momentum with over 5 million followers on Instagram, but they need help taking it to the next level.
The product is available at jayspetbutter.com and is currently sold in four different flavors such as blueberry, sweet potato and bacon bits. Prices range from $13.99 to $14.99 for 16-ounce cans. Jay's Pet Butter is relatively expensive but claims to offer a quality product.
Enter Shark Tank
With 40,000 companies applying for Shark Tank every year, it's rare to see celebrities asking for money. Cutler is worth approximately $30 million, so it's clear he's motivated by more than just money! These individuals gave professional presentations and were well rehearsed. They made the right decision by rejecting Kevin's royalty deal because it would have taken too much cash away from the company.
After Shark Tank
Following the episode of “Shark Tank,” Jay's Pet Butter saw a huge boost in sales and brand awareness. When we checked their website, both flavors were sold out the night they aired. With the publicity from “Shark Tank” and Cutler's large following, the company should do at least $100,000 in sales.
Peanut butter for pets may be a niche market, but the competition is fierce. According to Doglab.com's article on the three healthiest brands, Jay's Pet Butter didn't make an appearance, so it still has a lot of work to do!
Given that they only sell four flavors, the two companies will look to expand their product lines and 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.
To non-pet owners, spending $14 on peanut butter for dogs may seem strange, but some people will happily spend the money to treat their pets. APPA reports that Americans spent $136.8 billion on pets in 2022! The brand joins an exclusive list of 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