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Don’t worry, we have covered all the details of Minus Cal Shark Tank Update. This particular article will reveal everything from Minus Cal Shark Tank Update 2024 to Minus Cal Net Worth.
Minus Cal, a weight-loss product, appeared on Shark Tank episode 1 of Season 11. However, the business didn’t make any great impression.
As per new reports, Minus Cal is out of business. What made Minus Cal go out of business after Shark Tank is an intriguing question.
Before that, let us remind you that Minus Cal is infamous for an argument with one of the judges, Mark Cuban. At this moment, the audience might want to know what happened to Minus Cal and the aftermath of Shark Tank.
Minus Cal Key Highlights
- Minus Cal was founded by Barrett Jaques and Crom Carmichael, who combined a protein bar with a fat blocker.
- The product contains Choleve, extracted from green tea, which breaks down fat molecules.
- Minus Cal is currently out of business, with co-founder Barrett Jaques leaving to pursue a construction business.
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What is Minus Cal?
Founder Barrett Jaques and Crom Carmichael pitched their product, Minus Cal, as a fat blocker. According to their research, 70% of Americans are obese and suffering from being overweight.
Minus Cal is a snack bar and tablet that blocks the fat from the body. The product contains ‘Choleve’, extracted from green tea which removes fat and controls calories.
| Name | MinusCal |
| Founders | Barrett Jacques and Crom Carmichael |
| Product | A fat blocking protein bar made from Choleve and fruits ingredients |
| Features | Blocks the absorption of fat, leads to weight loss, completely safe for health and tasty |
| Initial Funding | Launched in 2017 |
| Shark Tank Appearance | Season 11 Episode 1 |
| Shark Tank Deal | No Deals |
| Current Status | Not In Business |
According to studies, Choleve is a “proprietary blend of fragmented tea extracts”. It is a supplement to lower cholesterol, regarded to be safe.
They combined a protein bar with a fat blocker and made their product Minus Cal. According to their research, Choleve breaks down fat molecules by enzymes in the small intestine to pass a small portion of fat undigested.
They pitched that if anybody eats Minus Cal along with a healthy diet and exercise they will lose 100 calories.
Who Is The Founder Of Minus Cal?
Entrepreneurs Barrett Jaques and Crom Carmichael are the founders of Minus Cal.
Minus Cal offering for the investor?
Jacques and Carmichael sought $500,000 for 20% equity. That was a big amount when they didn’t have any sales revenue at all.
Did Minus Cal get a deal on Shark Tank? With explanation
The young guy Barrett Jaques and the much older Crom Carmichel with their product Minus Cal appeared in episode 1 of season 11 of Shark Tank. However, the product failed to impress the Sharks to get a deal.
As they pitched their product, the judges claimed the product was misleading. The founder’s answers deviated during the session which created more confusion. Moreover, they didn’t have any sales history.
Guest shark Daniel Lubetzky was the first to be out. He said he prefers fresh and natural foods. Next, Kevin O’Leary Sharked out due to a lack of sales.
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Lori Greiner was also out. Robert Harjavec is out next, claiming his confusion about where he would invest. Next leaves Mark Cuban.
Mark Cuban was already frustrated with the claim that the product would not work and that it was misleading. Crom defended saying they never said it would lose weight but rather helps lose calories.
It caused a huge argument in the show. Mark Sharked Out and the two entrepreneurs had to leave the show.
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How Did Minus Cal Start & How Did It Do?
Minus Cal after Shark Tank didn’t get approval from the judges. Their entire pitch was out of appeal, causing a huge argument in the show.
They didn’t even share the details about their cost and retail price. They reveal that they just started the business and entered the show shortly after.
What happened to Minus Cal Before Shark Tank?
The two founders are both from Nashville, Tennessee. Crom Carmichael is originally from South Bend, Indiana but moved to Nashville. Both are alumni of Vanderbilt University.
While Carmichael had a career in business and media, Barrett Jacques was a recording artist at Sony Music Entertainment.
When Barrett was trying to expand his business portfolio, he preached the idea of the protein bar. He discovered the Choleve substance from green tea.
Barrett took help from Carmichael to extract Choleve from green tea. They increased the green tea concentration by 20 times. That’s how they made Minus Cal.
Their product is a protein bar that comes in three flavours– Chocolate, Peanut Butter and Apple Cinnamon. It was available in capsules as well. With this, they hoped to attract new investors from the show.
What happened to Minus Cal after Shark Tank?
Minus Cal let down the judges and left the show Shark Tank. Currently, they are out of business. The founders only started their sale just before the reality show.
Minus Cal made a negative outcome from the show after an argument with Judge Cuban. After the show, they did attract a few audiences and they got a boost in sales.
However, after a year the sales started dropping with heavy negative reviews. The company shut down in 2020.
After or recent shark tank company fact and figure
The business is no longer continued. According to reports, co-founder Barrett Jaques left the company. He is now in a construction business.
After the show Minus Cal gets an annual revenue of $2300. Their lifetime sales are at $28,000.
Why did Minus Cal go out of business?
Barrett and Crom preached their product Minus Cal as a weight-loss protein bar that absorbs fat. Judge Mark Cuban from the very beginning questioned their authenticity.
Co-founder, Crom Carmichael defended his product which led to a harsh argument between the two. Neither of them shared much information about their journey and sales information. All the judges Sharked out the product.
Cuban persuades everyone not to buy the products. The impact was negative but Minus Cal got themselves a chance to sell their products once again. After coming out of Shark Tank, they sold their products on Amazon for almost a year.
Unfortunately, the reviews are all negative. Some customers complain that the product does not work. They objected that Minus Cal is a scam. One of the customers even had to be hospitalised.
The sale went down. In fact, the company now no longer exists. Barrett Jaques left the company. Minus Cal is now not available in markets.
Are there any products like Minus Cal in the market now?
Few protein bars in the market could easily beat the Minus Cal. Companies like Builtbar and Premier Protein are the alternatives which have revenue over $10 million and are even lower prices than Minus Cal.
How much is Minus Cal’s net worth?
Minus Cal’s Net worth was estimated to be $5000. Currently, it is out of business. As for the 2024 update Minus Cal’s net worth is $0.
Before shark Tank valuation
There is no official valuation of Minus Cal before Shark Tank as they appeared shortly after their new sale.
After the Shark Tank valuation
- Net worth $5000
- Annual Revenue $2300
- Profits $190
- Lifetime Sales $28,000
FAQS about Minus Cal
What is Choleve in Minus Cal?
Choleve is a proprietary blend of fragmented tea extracts that is a fat blocker.
How much did Minus Cal seek on Shark Tank?
Minus Cal sought $500,000 for 20% equity.
What flavours did Minus Cal offer?
Minus Cal offered three flavors: Chocolate, Peanut Butter, and Apple Cinnamon.
Where can I buy Minus Cal now?
Minus Cal is no longer available for purchase.
What were the sales figures for Minus Cal?
Minus Cal had an annual revenue of $2300 and lifetime sales of $28,000.
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