In 2018, Emily and Cole Williams created something completely new in the culinary world: Slice of Sauce. This innovative product made classic condiments like ketchup and barbecue sauce mess-free and sliceable, aiming to revolutionize how we enjoy our favorite flavors on the go. The idea quickly garnered attention, leading to a successful Kickstarter campaign and a memorable appearance on “Shark Tank.”
The Spark: From Kitchen Experiment to Kickstarter Success
Slice of Sauce was inspired by Emily Williams’ attempt to repurpose her father’s barbecue sauce recipe. By drying the sauce, she made a flavorful sheet that, when sliced, offered a convenient alternative to traditional condiments. Recognizing its potential, the couple launched a Kickstarter campaign in 2018 and raised over $30 million, validating market interest in their innovative product.
Shark Tank Spotlight: High Hopes and a Promising Deal
In 2021, the Williamses pitched Slice of Sauce on Season 12 of “Shark Tank,” seeking $200,000 for 10% equity. Their pitch highlighted the product’s convenience and innovative solution, and it caught the attention of guest shark Alex Rodriguez. Rodriguez offered $200,000 as convertible debt, converting to 15% equity when sales hit $1.8 million—a deal the founders eagerly accepted on air.
Behind the Scenes: Challenges in Scaling Production
Despite the on-air agreement, the deal with Rodriguez ultimately fell through during post-show negotiations. The company had major challenges scaling production because manufacturing the slices was laborious and expensive. Without the anticipated investment, Slice of Sauce struggled to meet demand and streamline operations, and was unable to cash in on the “Shark Tank” exposure.
Market Reception: A Polarizing Product
Slice of Sauce’s innovative approach was received with mixed reactions from consumers. Some lauded the convenience and the mess-free experience, while others were skeptical about altering traditional condiments. Its premium price point of $5.99 for eight slices also raised concerns about its value proposition compared to conventional sauces, impacting its market penetration.
Financial Overview: Funding and Revenue Streams
The company raised initial funding via a Kickstarter campaign and later raised a seed funding of $220,000. In spite of these investments, Slice of Sauce remained pre-revenue when it appeared on “Shark Tank.” It lacked substantial sales and had challenges in scaling production, limiting its financial growth and sustainability.
Closure: Signs of a Business Winding Down
Signs indicated that Slice of Sauce was closing operations by late 2021. The company’s website became inactive, social media accounts were also inactive, and customers complained about unfilled orders and lack of communication. The company issued no official statement about the closure, but evidence showed the company was dissolved.
New Ventures: The Emergence of Radd Foods
Despite their previous challenges with Slice of Sauce, Emily and Cole Williams started a new venture, Radd Foods, which focuses on dairy-free cheese slices in flavors like Frank’s RedHot and Tangy Ranch. This pivot showed their resilience and commitment to innovative food products. Radd Foods has since grown with products in over 40 stores across Indiana and Lower Michigan.
