Last fall, we published a story about Julia Cheek (Taylor), GoMag’s first cover girl and an incredible individual. GoHorseShow also talked to Julia in June of this year when her horse, the legendary, Zippo LTD passed away.
When we caught up with her in September of last year, Julia told us a little bit about her fledgling company, EverlyWell, a direct to consumer health testing company that specializes in at-home kits that are easy to read and understand.
At that time, the company offered seven kits and was really just beginning to get exposure.
Fast forward to November 26, 2017 and Julia and her company EverlyWell have increased to thirteen tests and are on national television pitching their product on ABC’s Shark Tank and trying to win a deal.
We caught up with Julia to find out about the whole experience. And let’s just say, with a resume full of big wins in many areas of life, Julia can go ahead and add this one to her list.
The Process
If you’re familiar with the show, you know that the “sharks” are incredibly successful business people who are looking for companies to invest in. Considering that the sharks are only interested in the best of the best, one can imagine that the auditioning process is neither easy, nor quick.
“The entire auditioning process was very competitive and required a lot of commitment,” said Julia. “The application itself took about 20 hours to complete, and we had to spend a ton of time thinking about how to communicate our pitch in a way that was attention-grabbing for both the sharks and the consumers.”
Julia also worked with all of her investors to craft her deal-worthy pitch.
“I spent a lot of time crafting my pitch and perfecting an angle that would give the sharks and the audience enough digestible information without getting into the weeds of at-home health tests,” she said.
When asked what on earth would make her want to dive into this, it came down to, well… being a fan.
“I’m a big Shark Tank fan and I’ve watched the show for a number of years,” said Julia. “One of our investors, Halle Tecco (the founder of Rock Health) and one of our board members mentioned that they thought the show would be a good idea, so I ended up applying.”
Good thing, too.
Inside the Tank
If you happened to watch the episode with Julia and EverlyWell on November 26, it was apparent from the very beginning that the sharks were impressed with Julia, beginning with her tenacity to offer 5% equity for one million dollars (a steep offer by Shark Tank standards), to her overall presentation, and her in depth knowledge of anything they asked of her.
Guest shark, Rohan Oza went as far as to tell her how incredible her presentation was, even though he declined to offer her a deal.
But since the sharks responded so favorably to Julia’s presentation we asked her if she was confident she would get a deal.
She said, “There was a general consensus from the sharks that there is a strong need for this product in our healthcare system, which was definitely rewarding to hear, and it also made me feel confident that I would get a deal.”
Lori Grenier was the shark who decided Julia’s company was worth investing in but decided to modify Julia’s offer slightly. Lori offered Julia a million dollar line of credit at 8% interest, but still the 5% equity.
An offer Julia was happy to agree to.
“I completely understood this wasn’t the normal check size or ownership stake that the sharks typically ‘bite’ on, but I was really excited that Lori offered a deal,” she said.
When you’re actually on the show versus watching it at home, chances are you don’t care which shark offers you a deal, but of course, everyone has their favorite shark, so we decided to ask Julia if she got the deal with the shark she was after.
“Mark Cuban and Lori Greiner had the most consumer and retail experience that I was looking for in an investor,” she said. “But going into it, I was interested in a potential deal with any of the sharks.”
What’s Next
National exposure on a major network show is sure to change things, and being on Shark Tank has certainly done some great things for EverlyWell.
“Since the show aired, we’ve hit a record in products sold and we are continuing to see significant sales and traffic that is steady,” said Julia. “We have quadrupled our daily sales steadily, and we had our first $1M month in November. All of our team’s hard work and preparation definitely paid off.”
Lori’s investment in EverlyWell will help the company roll out an additional 12+ tests next year.
“We’re extremely excited to be partnering with Lori,” said Julia. “We’ll also be announcing several big partnerships, that will all make our at-home health tests even more accessible and affordable for our consumers.”
If you know Julia’s personal story, you know why she started EverlyWell and her mission to bring easily accessible diagnostic testing straight to the consumer is still just as strong.
Regarding how being on Shark Tank has impacted her, she said, “This was a once-in-a-lifetime chance to tell EverlyWell’s story and educate a large consumer audience. We have a consumer product, and people don’t even know that this option exists for lab testing. I’m excited about the opportunity to change that narrative, and make lab testing more accessible and meaningful for consumers.”
Way to go Julia! Congratulations!
About Chenay: A Tucson, Arizona native Chenay started riding Pony Hunters at 6 years old until she found a passion for Paint horses in 1993. She began showing at APHA approved shows in November of that year and continued on with a successful Youth career until 2000. She went on to graduate from the University of Arizona in 2006 with a dual Bachelor of Arts in English and Creative Writing. Today, she lives in Yucaipa, California with her husband, son, and lots of animals, including a rescued APHA mare.
