Darien Craig and Brandon Echols, childhood friends from Hayden, Alabama, have achieved remarkable success with their beverage company, Y’all Sweet Tea, which they co-own. Their journey to entrepreneurship was featured on a recent episode of ABC’s “Shark Tank,” where they secured an investment to further grow their business.
From Setback to Startup
Craig founded Y’all Sweet Tea in 2021 after facing a major setback: he was fired from his job. With only $7 left to his name, he used $300 from his final paycheck to purchase the initial supplies needed to start his tea business. “The week I got fired, I had $7 to my name,” Craig shared on the company’s website, recounting how that small investment laid the foundation for what would become a thriving enterprise.
Rapid Growth and Impressive Revenue
Y’all Sweet Tea has quickly gained traction, generating $4 million in revenue last year, with nearly $800,000 in profit. The company sells its products directly to consumers and is also available in approximately 600 grocery stores, primarily in the southeastern United States. A standout moment for the brand occurred when they launched a flavored tea, “Georgia Peach,” which sold an astonishing 10,000 units in just 35 minutes—$100,000 of that in the first eight minutes alone.
Shark Tank Appearance
During their appearance on “Shark Tank,” Craig and Echols sought a $500,000 investment in exchange for a 5% equity stake in Y’all Sweet Tea. Guest investor Rashaun Williams quickly offered them the full amount for a 10% stake, emphasizing his belief in their potential. While Mark Cuban and Barbara Corcoran opted out, Kevin O’Leary expressed his admiration for their sales figures and proposed a joint offer with Williams for $500,000 for a 20% stake, which they would split.
Lori Greiner also entered the bidding with a joint offer alongside Williams for $500,000 for 15%. Ultimately, Craig and Echols accepted Greiner and Williams’ offer, valuing the combination of Williams’ venture capital expertise and Greiner’s retail experience over the more favorable financial terms of O’Leary’s proposal.
Looking Ahead
The deal marks a significant milestone for Craig and Echols, who believe that the partnership will help them navigate the next stages of growth for Y’all Sweet Tea. “Rashaun is an awesome businessman and Lori has so much experience in retail,” Echols remarked. “It couldn’t have been a better deal.”
With the support of their new investors, Craig and Echols are poised to expand their brand further, continuing to build on the success they’ve achieved from such humble beginnings.
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