Island SodaWorks

Mandolyn Jonasson
Vancouver Island, BC

The pitch

Mandolyn Jonasson from Vancouver Island, BC, pitched Island SodaWorks in Season 10, Episode 4, asking the Dragons for $150K for 40% of the company.

Asked for$150K for 40%
Valuation$375Kimplied by the ask
OutcomeNo deal

Offers in the Den

Dragon	Offer	Result
Manjit Minhas	Out - concerned about coachability and willingness to expand off the island	Out
Joe Mimran	Out - not enough business savvy yet	Out
Michele Romanow	Out - beverages are too expensive to ship, doesn't fit her online-growth thesis	Out
Jim Treliving	Out - doesn't see how the business makes money if it must stay on Vancouver Island	Out
Michael Wekerle	Out - production scale far too small	Out

Mandolyn Jonasson, from the Oceanside area of Qualicum on Vancouver Island, BC, asked for $150,000 for 40% of Island SodaWorks, a naturally fermented probiotic soda made with cane sugar, local berries and herbs, sold only on Vancouver Island with a requirement that production stay there. Bottles sell for $3.99 each, and the company offers four bottled flavours twice a year plus over a hundred keg SKUs sold direct to restaurants. The company sold $50,000 worth of soda since entering retail in January, with all bottles currently hand-filled, and both Whole Foods and Choices Markets have expressed interest in carrying the product.

Manjit Minhas went out, questioning whether the founder was coachable enough to expand beyond Vancouver Island. Joe Mimran went out, citing a lack of business savvy despite liking the product. Michele Romanow went out because beverages are too costly to ship for her online-focused investment approach. Jim Treliving went out, saying he did not see how the business could make money while restricted to the island. Michael Wekerle went out over the small scale of production. There was no deal.

Pitch details from CBC’s Dragons’ Den pitch page.