KaleMart24

Sam, founder of KaleMart24 in Montreal, Quebec, pitched his natural convenience store chain, asking for $500,000 for 5% of the company. The stores, around 1,000 square feet on average, sell natural, organic, and better-for-you snacks, drinks, smoothies, coffee, and hot food made in an industrial kitchen and delivered three times a week with a seven-day shelf life. Sam reported one 400 square foot store doing over $1,800 per square foot, another doing about $1,100 per square foot, average per-store revenue of about $1,000,000 with 45% gross margin and 15% net profit, total projected revenue of $4.7 million this year across three corporate stores and franchise fees, and nine franchise stores sold at about $40,000 each to set up.

Wes Hall went out immediately, comparing the concept to his own business Aisle 24 and warning of possible lawsuit costs. Brian Scudamore went out questioning the low franchise setup cost and doubting the numbers. Manjit Minhas and Michele Romanow went out citing concerns about Sam's defensiveness and readiness as a founder. Arlene Dickinson also went out, citing concerns about his composure and openness to feedback during the pitch. No deal was made.

KaleMart24 is still operating and sells through its website.