Pork Barrel BBQ on Shark Tank
|Best Friends and now Multi- Millionaire's|
of the Pork Barrel BBQ Business
|Pork Barrel BBQ|
The Sharks may of loved the taste but the Entrepreneurs were looking for a $50,000.00 investment for only 10% of the entire business. Daymond John questions the half a million dollar valuation they have put on the business and Robert Herjevic thinks they are just joking with such a high number.
They explain over the next year alone, Pork Barrel Barbecue is expected to do $4.1 million with over a million dollars in pure profit. The numbers are not adding up for a few of the Sharks wondering why they are only asking for $50k when they are expecting to make a million dollar's within the next year.
The $4.1 million in sales are based on a hard copy 30,000 unit order with a major grocery chain which is expected to grow substantially in the future. That's a lot of projecting that the Sharks are having a hard time swallowing which leads to Robert Herjevic and Kevin Harrington going out. Daymond John thinks its a crowded market to break into and decides to hold on to his investment dollars for another deal. Kevin O'Leary comment's "you guys are politicians and hobbyists making sauce". OUCH!
Barbara Corcoran seems fixated on the Pork Barrel logo which has a pig on it. Thinking creatively outside the box, Barbara tells Heath that she can't help notice the resemblance of him and their mascot pig. I assume that was a compliment, for business purposes of course. Barbara is interested in perhaps investing but thinks $50k might not be enough to grow this company as big as she in vision's. Brett assures Barbara that they have an additional $100k in addition to her investment which completely changes the dynamics of this opportunity.
Even with the additional $100k Brett and Heath have just committed to closing this deal, Corcoran stands firm only offering them $50k and still wants 50% of the Pork Barrel Barbecue Business. They ask her to come down to 40% and Heath will become the new mascot wearing a pigs costume, but she quickly turns them down.
With the only deal on the table inside the Shark Tank, Thompson and Hall take Barbara's offer which even surprised her they didn't try to counter one more time. With the success of this business, those few extra percentage points are now worth a small fortune all their own.
Pork Barrel Barbecue Shark Tank Update:
If there was ever a Success Story coming out of the Shark Tank that really stands out, the Pork Barrell Business has to rank with the best of them. Brett and Heath, with Barbara's help, grew from a few national grocery stores to several thousand in a very short time. In fact they have become one of Corcoran's most Successful Investments that a good portion of Corcorans Book is dedicated to their business.
All the Sharks had the Opportunity to ring in the opening bell at NASDAQ in 2011 which included past Shark Tank Contestants including Brett Thompson and Heath Hall. Talk about fantastic Free publicity standing next too and rubbing elbows with all the Sharks in front of millions of more potential customers.
Heath took the opportunity to interview all the Sharks while still inside the NASDAQ and asked them if they regret not investing in the Pork Barrel Barbeque Business. Most did in fact regret not investing but they also realized it was a Fantastic Investment for Barbara Corcoran. The picture might look a lot different if the deal fell into place any other way.
I'm sorry but the more I look at Heath in this video, the more I can see what Barbara was seeing between the Pork Barrel BBQ mascot and Heath Himself. Could they really have created the mascot with his image in mind? Simply Brilliant!
Pork Barrel BBQ - Award Winning BBQ Sauce and Rub Sampler Pack