Shark Tank Nourish + Bloom Market, a grocery store founded by Jamie and Jilea Hemmings, entered Shark Tank USA in 2024 on Season 15. The founders were seeking $400,000 for 5% equity. But unfortunately they couldn’t secure a deal with the Sharks. In this article, we will explore Nourish + Bloom Market Net Worth in 2024, its Shark Tank pitch summary and more.
Nourish + Bloom Market Net Worth
As of March 2024, Nourish + Bloom Market’s net worth is unknown. However, Nourish + Bloom Market’s business valuation was $8 million based on their pitch of $400,000 for 5% equity in 2024.
| Net worth | Not Available |
| Annual Sales Revenue | Not Available |
| Profits | Not Available |
| Lifetime sales | $800K |
| Employees | 2-10 employees |
Nourish + Bloom Market Net Worth Timeline
| Net Worth 2024 | Not Available |
| Net Worth 2023 | Not Available |
Shark Tank Nourish + Bloom Market Update from Season 15
The founders presented their business idea to five Sharks. To win investment, they must prove their company’s worth and future growth potential. They needed a solid business plan, good finances, and sales data to impress the Sharks. But most importantly, they showing they have what it takes to run the company successfully according to the Sharks’ standards.
Their main store was constructed in 2022, costing $1.5 million. They’ve made $800,000 in sales since then, but they haven’t reached a profit yet. In the month before filming, they made $22,000 in sales.
They also own a smart vending machine and a satellite store suitable for placement in hotels. They expected the container store model to be the most profitable, with a 25% profit margin.
Barbara Corcoran asked how their system works. Jamie explained that customers download the app and will enter their payment details. When they want to shop, they scan their code at the entrance. Then, they can grab whatever items they need. Their AI system automatically charges them for the groceries. Before leaving, they can check their receipt on the app to ensure accuracy.
Lori preferred to work with entrepreneurs she could assist, but since she lacked knowledge about this business, she decided not to invest. Barbara shared Lori’s sentiment and is unsure about where she could contribute. Because of this, she also decided not to invest as well.
Mark Cuban asked about their funding. Jilea explained they’ve raised $440,000 from friends and family, secured an SBA loan for $875,000, and have a couple of convertible notes totaling $250,000.
Guest shark Jason Blum found Nourish + Bloom Market’s message confusing and thought they were moving too fast, so he opted out. Kevin O’Leary believed the technology posed too many challenges and decided not to invest. Mark Cuban also declined the deal due to financial concerns. Finally, the founders went out without a deal on the Shark Tank Show.
| Company Name | Nourish + Bloom Market |
| Founders | Jamie and Jilea Hemmings |
| Business | Autonomous grocery store |
| Episode | Season 15, Episode 18 |
| Asked Deal | $400,000 for 5% equity |
| Final Deal | No deal |
| Sharks | No Sharks |
| Business Status | In Business |
| Company Website | Visit Website |
| Headquarter | Fayetteville, North Carolina, USA |
What Happened to Nourish + Bloom Market after Shark Tank?
As of March 2024, the Nourish + Bloom Market is still in business. After appearing on Shark Tank, Nourish and Bloom Market gained more attention. They have a flagship store in operation, and you might be surprised by how it operates. Customers using the store’s app and scanning a QR code, then choosing the groceries. After, the store automatically charges the bill and sends an email receipt, similar to Amazon Go stores.
The market operates 24/7 with staff to restock and assist customers. They also have a bistro. The bistro operates from 11 a.m. to 7 p.m., and during this period, the market is staffed by two employees who handle food and inventory stocking. Outside of these hours, customers can access the store via their app.
The main Nourish + Bloom Market store is situated in Fayetteville, Georgia, and is well-popular within the local community. They are praised for their excellent service, and their customers are highly satisfied.
In the upcoming update for Nourish + Bloom, Jilea and Jamie plan to open three new stores in Atlanta, Georgia, by 2024. The prices are budget-friendly, ranging from $11 to $28, so you can enjoy good food without breaking the bank. Also, you can purchase your own Nourish + Bloom Market products through their website.
Nourish + Bloom Market Founders
Jamie and Jilea Hemmings are the founders of Nourish + Bloom Market. The company started in July 2022. However, Jamie and Jilea Hemmings’s Net worth is unknown as of March 2024.
The couple, who have an autistic son, prioritize providing him with healthy food options. After relocating from Chicago to Georgia, they noticed a lack of healthy choices in their area. Jamie and Jilea aim to assist Americans living in food deserts by providing healthier options. Recognizing that 1 in 8 people lack access to fresh and nutritious food, they founded their company, Nourish + Bloom Market.
With Jamie’s experience founding four other businesses and Jilea’s entrepreneurial background, they are no strangers to entrepreneurship. They still own a business named Stretchy Hair Care.
Jamie has a history of developing scheduling technology applications for the pharmaceutical and cannabis industries. His cannabis app, Leaf Tyme, made it to the final round of the release competition at SXSW. Jamie also writes for Medium and Thrive Global about black men’s impact in the technology industry.
Jilea holds recognition as one of the 25 Most Influential Black Women in Business and stands as a finalist for SXSW. She’s passionate about addressing food deserts through autonomous grocery technology. Also, she focuses on educating the next generation about STEM and retail technology jobs.
Also, she supports diversity at work and hosts podcasts about life, business, health, and hair care. That is The Untold Truth, The Green Nyle Podcast, and Tender Heads Matter.
Nourish + Bloom Market Achievements and Awards
| Year | Achievements and Awards |
| 2024 | The company was featured on Shark Tank Season 15 |
Conclusion
Shark Tank is a TV show showcasing different business ideas, helping them succeed. Nourish + Bloom Market was one of the ventures featured on the show. Despite the loss of the deal, the company showed that success is possible with the right idea and execution. Now, we eagerly await to see how their success story unfolds in the future.
Before you leave, check out the other company updates in Season 15, Episode 18.
