what happened to chi lantro after shark tank

Restaurant dreamers are a dime a dozen, only getting the dollars to go from idea to reality (and profitability) tin nowadays insurmountable hurdles. Startups often cobble together cash by borrowing from friends and family and maxing out credit cards, but once that commencement food truck or brick-and-mortar location gets off the ground, what'south next? Over the final few years, some hopefuls take gone the "Shark Tank" road—the TV evidence where entrepreneurs come to pitch ideas for all kinds of business concern. Several budding restaurateurs were able to convince one or more Sharks to invest in their concepts and partner with them for growth. Here are their strategies and stories—including ane that succeeded despite a no-become from the Sharks.

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1. Cousins Maine Lobster: Practise your pitch

Maine natives and cousins Sabin Lomac and Jim Tselikis launched Cousins Maine Lobster as a single nutrient truck in Los Angeles in 2012, serving lobster rolls—a specialty along the New England coast. Authenticity and sustainability were the craveability points they pitched to the Sharks in 2013, including a direct connection to a Maine lobster supplier who could guarantee fresh product delivered to California within 24 hours. The pair watched all four seasons of "Shark Tank" to gear up and proficient fielding questions before they came on the show—resulting in a $55,000 investment from Barbara Corcoran to expand their armada of trucks. Corcoran'due south marketing savvy and media connections helped spread the word, and the business organization took off. The company now has 20 trucks, including the newest in Nashville and San Antonio, and sales have reached $20 million, co-ordinate to Cousins' website. In an interview with Business Insider, Corcoran said that Lomac and Tselikis fabricated the best pitch she had ever seen.

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2. Tom + Chee: Exercise the math

Founders Drew Quackenbush and Corey Ward launched Tom + Chee, a grilled cheese and love apple soup concept, by investing $2,400 in a tent and a griddle, so setting up shop next to a Cincinnati skating rink. A year afterward, they had earned plenty coin to open one brick-and-mortar store in Cincinnati, offering unique items like a grilled cheese doughnut. Somewhen, they opened a second shop and sold one franchise, and gross annual sales climbed to $i.5 million. So when the duo came on "Shark Tank," they could back up their pitch with some solid numbers—something the Sharks are understandably picky about. What Quackenbush and Ward wanted was an investment of $600,000 to expand the franchising side of the business. Shark Barbara Corcoran took the bait, offering the money and her expertise in scouting out real estate deals. Since the show aired in 2013, Tom + Chee has expanded to 19 locations and claims to have 170 stores under contract.

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three. Chi'lantro: Persistence pays

Korean charcoal-broil concept Chi'lantro, which built its reputation on its signature kimchee chips, also had something of a track record when founder Jae Kim appeared before the Sharks. Although he had practical a couple of times before, he finally got his chance in belatedly 2016 when Chi'lantro was pretty well-established. In six years, he had grown Chi'lantro from a lone food truck to a 4-unit of measurement fast casual in Austin, Texas, complete with a catering arm and kimchee facility. Barbara Corcoran liked that growth and agreed to invest $600,000 for a twenty% stake in the restaurant company. Kim, who told the Sharks his sales should reach $6 million this year, plans to open up a fifth location in Austin and aggrandize into Houston in 2017. The cash infusion is earmarked for expansion outside Texas.

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4. Big Shake's Hot Craven: The one that got away?

Shawn Davis, who goes by the proper noun "Chef Big Shake," came on "Shark Tank" in 2011 looking for $200,000 to get his shrimp burgers into wider retail distribution. The Sharks passed on the bargain, merely deep-pocketed angel investors were watching the show and Davis'southward appearance generated interest and dollars. Gradually, he was able to get the shrimp burgers into fifteen supermarket bondage in 2,000 outlets across 26 states. Annual revenue hit $five 1000000, and Shark Mark Cuban admitted in an interview that passing on Chef Large Shake was a error. At the fourth dimension, Davis wasn't thinking of launching a restaurant concept, only in 2014, he used some of his profits to open Big Shake'southward Hot Chicken in Franklin, Tenn.—jumping in early on the Nashville hot chicken tendency. Able to procure more venture capital, he aims to grow the fast-casual chain in 2017, although an indictment for tax evasion late in 2016 may hamper his plans.

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Source: https://www.restaurantbusinessonline.com/marketing/3-shark-tank-restaurant-successes-one-got-away

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