Bleni Blends has brought something new to the vending machine industry. Instead of the usual snacks and drinks, their vending machines sell smoothies and iced coffees. Founders Peter and Stuart Shapiro got a deal with Lori Greiner and Daniel Lubetzky. As a result, Bleni Blends is now worth an estimated $3 million.
The Shapiro’s Brothers
Peter and Stuart Shapiro are from Wynnewood, Pennsylvania. Peter has an MBA from Temple University, while Stuart holds a BSM from Tulane University. Both had promising careers before pursuing entrepreneurship.
At first, Peter was the VP of Enrollment Management at Tulane University, and Stuart was practicing law. They started working together in 2015, purchasing rental properties. The following year, they launched Robotic Desserts.
Founding Bleni Blends
With Robotic Desserts, Peter and Stuart gained experience using automation. Then, they wanted to venture into an untapped market by making smoothies via vending machines.
Their expertise led them to create Bleni Blends, a 12-square-foot touch-screen vending machine that prepares smoothies in 60 seconds. Moreover, the device uses fresh fruits and dairy-free ingredients.
The product was officially launched in 2019. One thing that made it stand out is unlike most vending machines, it doesn’t accept cash. Their machines only accept card payments and operate 24/7 with a low-time commitment.
Getting on Shark Tank
Bleni Blends started out in the greater Philadelphia area. They allowed people to buy their machines and operate them independently. Some also hosted their kiosks for profit without making a considerable investment.
Their top locations are gyms, malls, healthcare facilities, and universities. At some colleges, students can pay using their campus cards. To scale operations, the founders needed more capital. In 2022, Peter and Stuart Shapiro got accepted onto Shark Tank after going through their rigorous application process.
Shark Tank Company Status
When the episode aired, the Shapiro brothers were prepared for a huge uptick in orders. The publicity from the show is huge as season 14 averaged 3.5 to 4 million live viewers on ABC.
Bleni Blends has over 50 vending machines in the United States and Canada, with hospitals being the most popular location. They also have one location in the UK!
If you’re interested in buying a smoothie vending machine outright it will cost you $30,000. In addition, you will need to purchase the products from Bleni Blends. To make financial sense, the machine needs to make around $2,000 per month.
The company sells 12 frozen beverage flavors for around $5.50. The blends are also lactose- dairy- and gluten-free. Unfortunately, there are no available customer reviews available online. The founders stated that they were in an unexplored territory after all. Regardless, their startup is worth an estimated $3 million.
It’s still too early to tell if Bleni Blends will succeed. One thing that might give them encouragement is the success of Vengo, a vending machine company that appeared on Shark Tank and is now worth $50 million!
