Where Is Vade Nutrition From Shark Tank Today?
Michigan couple Joe and Megan Johnson made a splash on Season 10, Episode 6 of "Shark Tank" with their product line, Vade Nutrition. Fans might recall the energetic introduction to the product involving an abundance of throwing protein powder around (so much so that Joe's black t-shirt resembled a fight with a bag of flour). Vade Nutrition sells pre-packaged pockets of protein powder in food-grade edible film. Available in chocolate and vanilla, it's an innovative product that eliminates the mess that other protein powders make — and it's still in business today.
Joe Johnson recounted how he'd graduated from a finance program at Michigan State and met Megan at a summer camp for college athletes there. The two were inspired to create Vade after Joe's countless messy encounters with protein powder tubs. With the product already available for purchase through their website and on Amazon, the pair sought a deal of $250,000 in exchange for 10% equity. (The Johnsons began selling their product in July 2017, with their appearance on "Shark Tank" happening in November 2018.) Although speculation surrounded the company's low profit margins thus far, two Sharks offered a deal that the Johnsons eventually accepted.
Since the company's appearance on "Shark Tank," Vade Nutrition has gone from strength to strength, with an expanded product line now available at multiple outlets and an expected lifetime sales amounting to a projected $32 million as of 2021. While there have been obstacles, it seems the only way is up for these victorious entrepreneurs.
Vade Nutrition is perfect for on-the-go athletes
When appearing on "Shark Tank," Joe and Megan Johnson explained that their protein powder contained 90 calories per serving, with 20 grams of protein, 1 gram of fat, and zero sugar. As exclaimed by Joe, it's "one of the leanest proteins ... on the market." The edible film is made from the main ingredient that coats vitamins and immediately dissolves (with a good shake) when mixed with water, milk, or juice. When quizzed about how the edible film impacts the price compared to other whey isolate powders, Joe Johnson explained that other brands usually market between $1.20 and $2 per portion, while their product cost around $1.50.
Starting from July 2017, when they commenced selling Vade Nutrition, the duo outlined that they invested $300,000 in inventory but yielded only $80,000 in profits. This was due to problems with a faulty batch of the protein from the distributors, to which Mark Cuban responded, "Welcome to being an entrepreneur."
Lori Greiner considered making a deal, but guest star Alex Rodriguez partnered with Mark Cuban to offer a $700,000 deal in exchange for 40% equity. Joe attempted to knock the equity stake to 25%, with an immediate "no" from the Sharks and Kevin O'Leary declaring, "That's a huge amount of money." However, after some conferring, the Johnsons accepted the deal, excited for the prospective "dream team."
What happened to the 'dream team?'
While the deal with Alex Rodriguez and Mark Cuban was exciting, it never materialized. And information regarding the unfinished deal is limited.
Nevertheless, in an interview with Honest Ecommerce in 2022, Joe Johnson explained that the visibility and credibility that "Shark Tank" brought the Vade Nutrition line was fantastic. It didn't do too badly for the company's sales, either — they almost tripled overnight. He also highlighted that although the appearance on "Shark Tank" gave the line a spike in sales, this was followed by a "steady decline," and the company's sales consequently leveled out.
As Johnson explained, the company needed to figure out how social media could support and expand Vade Nutrition's popularity. The company needed to build a customer base who returned to purchase the product repetitively, rather than relying on one-off transactions. This is where the business really needed to catch on.
Vade Nutrition continues to grow
Vade Nutrition is still in business and has experienced tremendous growth. In 2019, Vade Nutrition gained the ECRM "Buyers Choice Award," and in 2020, the company partnered with the manufacturer Amway. In 2022, Vade Nutrition ranked 392 on the Inc. 5000 annual list of the fastest-growing companies in America. Joe Johnson also made the Forbes 30 under 30 list.
The protein pods are now available at 8,000 retail locations, including Winn Dixie, Walmart, GNC, and CVS. With 1.1 million customers and predicted sales of more than $10 million in 2022. Its popularity on Amazon has also continued growing, with thousands of positive reviews describing how convenient, great-tasting, and easy-to-use the product is. Vade Nutrition has also expanded its product line to include dissolvable collagen packs with MCT oil, plant-based protein pods, pre-workout and bundle starter packs, and accessories. The company has also added cappuccino and strawberry milkshake flavors to the whey protein line.
What led to this success is not only smart partnership and product expansion choices, but also an awareness of when social media strategy can negatively impact sales. In the same interview with Honest Ecommerce, Johnson described how the budget designated for advertisements on Facebook was unsustainable given the platform's privacy policy changes. This motivated the decision to focus on the retail expansion of Vade Nutrition instead.
One dissolvable pack at a time
Vade Nutrition is set on growing its team and expanding its product line. Vade aspires to be recognized not just as a protein powder company, but rather as a nutritional supplement enterprise. For customers of all ages and backgrounds, Vade Nutrition hopes to be a popular, portable supplement option.
While the details of the agreement on "Shark Tank" remain mysterious, it's worth noting that a 2016 Forbes survey revealed that 73% of deals struck on the program underwent modifications, and 43% fell through. A clear example of this was with Plate Topper from "Shark Tank," where Lori Greiner announced that the deal fell through post-episode. Forbes also revealed that due to non-disclosure agreements, many entrepreneurs can't discuss the details of their deals.
While it may forever remain uncertain what really happened between Vade Nutrition and the Sharks, the protein-loving duo has created a successful product line with intriguing prospects ahead.