Split Tree Cocktails

Steve Morrier, from Ottawa, Ontario, asked for $50,000 for 30 per cent of Split Tree Cocktails, a company making cocktail syrups, mixes and cordials from whole, fresh and dry ingredients with no artificial flavours, sweeteners or dyes. Each bottle sells for about $10 and makes up to 16 drinks. Morrier started the company with a $2,000 investment, has generated cash flow from the start, and has done about $20,000 in sales in his first few months. He recently signed a vendor agreement with Whole Foods and a nationwide agreement with Chapters-Indigo. Production is now handled by a co-packer at the same cost as making it himself, and ingredients are currently sourced locally through produce distributors.

Joe Mimran went out, saying the branding was credible but that competitors would come after the business aggressively once it gained traction. Michele Romanow also went out, saying Manjit Minhas would be the ideal partner given her manufacturing and sourcing expertise. Michael Wekerle offered $150,000 for 50 per cent of the company for five years, after which he would return the equity, but Morrier chose to accept Manjit Minhas's offer of $50,000 for 20 per cent, citing her ability to help with sourcing ingredients, bottles, caps and distribution.

After accepting $50,000 for 20% from Manjit Minhas, Steve Morrier moved from making cocktail mixes by hand to a full production facility, rebranded products with Manjit Minhas's Polo Club Gin into a new Elevated Gin and Tonic line, secured listings with Safeway and Sobeys, and projected up to $10 million in sales in the company's first year under the new plan.