Luma soda is a sugar-free soda that is low in calories and free from harmful chemicals. It is a healthier alternative to popular sodas like Coke and Pepsi.
Jim Ottosen launched Luma Soda in 2017. He created the drink after he was tired of drinking sodas that contained too much sugar, additives, and preservatives.
The Company’s History
In 2017, Jim Otteson founded Luma Soda, which he says is a healthier alternative to traditional sodas. The company’s sodas are calorie-free and preservative-free, and they’re sweetened with honey and monk fruit juice. They’re available in several flavors, including classic cola, blood orange, lemon lime and cherry.
As an attorney for 26 years, Otteson was a regular diet soda drinker, but he discovered that they contain a lot of additives and chemicals that can be detrimental to your health. He started looking for healthier alternatives, and that’s when he found Luma Soda.
He launched the company in January of 2017. The initial focus was on Palo Alto, but he’s now shipping to restaurants and grocery stores around the country. He’s also starting to sell them online, and he’s even looking into adding a membership plan so customers can get a monthly supply of the drinks.
The Sharks are intrigued by the product, but they’re split on whether or not it would be profitable. Barbara Corocan offered $250,000 for a 20% stake in the business. This equates to a valuation of $2.5 million.
Rohan Oza also wanted to invest in the business, but he didn’t think it was a big enough opportunity to make an impact on his bottom line. Moreover, he preferred to work with entrepreneurs who could help his business grow.
After a long pitch, the Sharks were impressed with the business model and the concept of the product. They thought that he had potential to sell to brand name grocery stores. However, they weren’t sure how to market it.
They hoped that he would be able to use the money from the investment to boost sales. Unfortunately, he wasn’t able to secure a deal on the Shark Tank show.
Despite the Sharks’ rejection, the business continued to do well and is still in operation. It has $600,000 in inventory and a $30,000 cash reserve. It’s currently making $180,000 a month in sales, and they plan to grow the company.
Soda is a popular beverage that’s consumed by millions of people in the United States. In fact, Americans spend more on soda than they do on coffee. Soda consumption is largely driven by sugar and artificial sweeteners, which can be detrimental to your health. That’s why many consumers are turning to healthier alternatives like the ones Otteson created at Luma Soda.
The Founder’s Story
When Jim Ottosen started the business, he was searching for an affordable and healthy soda alternative. He was a lawyer for 26 years and consumed a lot of soda during trial preparations, but he realized that diet sodas were filled with nasty additives and chemicals. Eventually, he stopped drinking it and began looking for an alternative drink that was low in calories and had no chemicals or preservatives.
After a long search, he decided to create Luma Soda. It is a healthier alternative to regular soda that is sweetened with natural ingredients, such as honey and monk fruit juice. It comes in cola, cherry cola, lemon-lime, and blood orange flavors.
Its price range is $9.95 to $12.95 per 12-oz can and it is available in many stores. It is a popular choice for people who want to enjoy a refreshing drink while being healthy.
The founder of Luma Soda, Jim Ottosen, was looking for a $500,000 investment for 20% equity in his company. He wished to get the product in grocery stores as soon as possible.
He was able to raise $1,750,000 against a home equity loan and the value of his life insurance policy. He also spent $15,000 a month on marketing the business online.
However, he was not able to obtain a deal from the sharks on Shark Tank. They said that the business was small and he needed to invest more money in it.
Despite this, he managed to sell the drinks online and was very happy with his success. He believed that his product was unique and could attract consumers who are concerned about their health.
The entrepreneur’s goal is to get the product in all the major grocery stores across America, as well as other markets. He plans to spend more money on marketing his product.
He has already sold over 200,000 cans and he is still growing rapidly. The company currently has a total of $600,000 in inventory and a $30,000 cash reserve.
The entrepreneur has been able to make a net worth of $2,500,000 from the sale of his product. He has invested $1,750,000 in the business and is using his home equity to pay off his mortgage. He is spending about $15,000 a month on marketing his products, which is causing him to burn cash fast.
The Product’s Uniqueness
Luma Soda is a carbonated beverage that aims to replace conventional sodas since it is calorie-free and contains less sugar than other sodas. It is also made without harmful chemicals and preservatives. Its sweetness is naturally derived from monk fruit and honey. It is available in Blood Orange, Cherry, Lemon Lime and Cola.
Otteson started developing Luma Soda in 2017. He wanted to create a healthier soda that did not have any aspartame or artificial sweeteners. He contacted food companies and tested natural flavors until he found one that worked well.
He worked with a food scientist in Fremont, Sampson Hsia, who helped him create the drink’s flavor. They used a small amount of honey and monk fruit to sweeten the soda. This was a good choice for Otteson because it is non-caloric and contains antioxidants.
The drink has only 4 grams of sugar per serving, which is less than half the amount of sugar in a traditional carbonated soda. The product is also flavored with real fruits and vegetables, and it does not contain any preservatives or additives.
Otteson launched the company in 2017 and it quickly started making a name for itself. It is sold online, at a handful of grocery stores and restaurants.
Its main goal is to be available in all states by the end of this year. It is a fun drink for kids and adults alike, with a variety of flavors.
According to Otteson, his business plan is to eventually produce a large volume of the drink and expand its distribution to major retailers nationwide. He plans to make his product available at Whole Foods, Safeway, Trader Joe’s, and other stores that have a strong local presence.
In addition, he hopes to have the drink available at gyms and other health-conscious establishments. He said he wants people to know that they can have a good-tasting soda and avoid the unhealthy, chemical-filled alternatives.
He has a passion for the product, and he believes in its potential. He also said that his customers have been very happy with the results.
The Company’s Revenue
Founded in 2017, Luma Soda is a soda company that uses natural ingredients. It has one tenth the sugar of traditional sodas and no artificial flavors or sweeteners. The company also does not use preservatives or other chemicals that can be harmful to the human body.
Founder Jim Otteson was a lawyer for 26 years when he developed the idea for Luma Soda. During his time as an attorney, he often drank diet sodas and started to realize that the drinks contained harmful additives and chemicals. He decided to find a healthier option for his own health and created Luma Soda.
He started experimenting with recipes in his kitchen with his 13-year-old daughter and eventually found a combination that worked well. He then contacted Sampson Hsia, a food scientist in Fremont, to help him produce the product. He based his recipes on monk fruit, which is sweeter than sugar and has antioxidants.
When the product was ready, he began distributing it to restaurants and grocery stores in Palo Alto. Sancho’s Taqueria, Terun, Country Sun Natural Foods, Piazza’s Fine Foods and the gym Form Fitness have all carried Luma Soda.
Otteson’s goal is to expand the company nationwide and sell to brand name grocery stores. He hopes to get an investor to help him reach this goal.
The entrepreneur appeared on the Shark Tank Season 10 episode and asked for $500,000 for a 20% stake in the company. Barbara Corocan offered $250,000, but only if she could get guest Shark Rohan Ohza to invest in the company.
Although the company failed to make a deal on the show, Otteson has invested his own money into the business. He took out a home equity loan and has $1,750,000 in the company’s inventory. He has also spent $15,000 on marketing the product every month.
He says that he has generated $180,000 through sales and is looking for an investor who can boost their sales. He wants to increase the amount of products they produce and he needs help promoting the product.
Otteson aims to take the company nationwide and is looking for an investor who can help him achieve this. He believes that the product is unique and he would like to see it spread across the nation. He is confident that he can reach his target market if he makes the right moves.