What Happened to Pork Barrel BBQ after the Shark Tank Pitch?
What is Pork Barrel BBQ?
Pork Barrel BBQ is a company that provides rubs, spices, and sauces for use in both amateur and professional barbecue situations.
Additionally, they provide jerky-style snacks and breadcrumb alternatives for customers looking for low-carb snack options.
It was formed by two former workers of the United States Senate.
Who founded Pork Barrel BBQ?
Heath Hall and Brett Thompson launched Pork Barrel BBQ. They both worked for members of the United States Senate before founding the company, Heath as a policy analyst and Brett as a legislative director.
Heath continues to work with Heartland Dental as the Director of Government Affairs. Brett is active with the company, although he is also a director of Jos. A. Magnus & Co. and a partner at Banner Public Affairs.
Pork Barrel BBQ was conceived at a Senate meeting one night. Two employees were discussing dining options in Washington, D.C., when they observed the neighbourhood lacked a well-known barbecue restaurant.
After a few years of dormancy, the subject was resurrected.
What Happened to the Pork Barrel BBQ on Shark Tank?
Thompson and Hall appeared on Season 1 Episode 6 of Shark Tank in pursuit of $50,000 in return for a 10% share in their Pork Barrel Barbecue business. This amounts to a valuation of $500,000.
The Sharks find their sophisticated presentation and political satire amusing. They spark the Sharks’ interest when Thompson states, “Heath and I are passionate about two things: providing excellent barbecue and making a lot of money.”
He continues by demonstrating how the team exploited their product from idea through branding, marketing, and sales of barbecue and spice rubs.
Brett Thomson approaches the Sharks with a tray of their products, allowing the Sharks to try them and determine their suitability.
Kevin O’Leary like the flavour of the product but is uncertain about its popularity.
The partners proudly show the awards they just received at national competitions.
Robert Herjavec feels the partners are “joking” about the half-million-dollar valuation of the business. He questions if their appraisal is accurate.
Thompson returns to report that a 10,000-unit order is presently being manufactured and will be delivered within the next month.
Unexpectedly, Herjavec goes for the kill, demanding the asking fee.
Thompson dismantles the sales, proving that the products cost around $2 to produce and generate a 50% profit.
He estimates that within a year, the business would generate more than $4 million in revenue and more than $1 million in profit, “based on extremely conservative projections.”
Robert Herjavec admits to having purchased a barbecue sauce earlier. Herjavec, who was previously burned by a questionable investment, is now twice more cautious and displeased.
He believes Pork Barrel Barbecue lacks the brand recognition necessary to develop the distribution channels necessary to become a national seller. He has departed.
Kevin Harrington has also withdrew from the race, stating that he does not wish to face the risk.
Daymond John asserts that the barbecue sauce industry is saturated, which is why he declines to invest in Pork Barrel BBQ. Daymond John has announced his departure.
Kevin O’Leary claims he would have invested if both of them were working full-time on Pork Barrel BBQ rubs and sauces, but because they aren’t, Kevin O’Leary is also out.
Barbara Corcoran makes a comparison between Heath and the team’s mascot. She believes the statistics are illogical.
She believes $50,000 is insufficient to get their concept off the ground. Thompson discloses that they have invested $100,000 of their own funds in the initiative.
Corcoran offers a suggestion. She is willing to pay them $50,000 in exchange for a 50% stake in the business.
The owners of Pork Barrel Barbecue give Corcoran 40%, but he declines. The couple accepts the arrangement.
What became of Pork Barrel BBQ following its Shark Tank Pitch?
Barbara made her first Shark Tank investment. Collaboration with Barbara resulted in the development of three new sauces and a new product, bacon jerky.
They’d earned $3,000 in the six months preceding their Shark Tank appearance.
Seven years after its debut, sales had increased to $15 million.
Pork Barrel BBQ has grown into major retail locations, including military bases.
Pork Barrel Barbecue occurs in episodes 111 and 305 as a part of the upgrade. The lads announce the opening of their restaurant in the season 3 update, and Barbara appears dressed as a pig.
Season 6 Episode 624 has an additional update. They have increased their sales by $10 million since the prior report.
They are now available in 5000 locations, with an additional 3000 on the way. Sam’s Club has the merchandise on hand, indicating that $2 million in orders has been placed.
Pork Barrel BBQ has monetized the Shark Tank phenomena!
In December 2021, the firm is still going strong, with yearly revenues of $4 million.
What is Pork Barrel BBQ’s Net Worth?
Thompson and Hall participated on Shark Tank in return for $50,000 and a 10% share in their Pork Barrel Barbecue business. This amounts to a valuation of $500,000.
They accepted Barbara’s offer of $50,000 for a 50% ownership, bringing the worth to $100,000.
The Company’s current valuation is clearly greater as a result of its growth.
Who are Pork Barrel BBQ’s Competitors?
Queen City Q, Gates Bar-B-Q, Buckaroo’s Grille, Hog Hill BBQ LLC, and Boone’s Bar-B-Q Kitchen are the restaurant’s primary competitors.
What Happened to MTailor after Shark Tank?
What Happened to The Original Profender after the Shark Tank Pitch?
Pork Barrel BBQ FAQS
1. Where are the Pork Barrel BBQ’s headquarters?
The Pork Barrel BBQ headquarters is located in Alexandria, Virginia.
2. What does Pork Barrel BBQ specialize in?
Pork Barrel BBQ operates a retail outlet for barbecue spice rubs and sauces. The company specializes in barbecue and spice rubs.
3. Who is the founder and CEO of Pork Barrel BBQ?
Brett Thompson and Heath Hall have founded Pork Barrel BBQ. They are the principal owners of the business.
4. How can they contact Pork Barrel BBQ?
They contact Pork Barrel BBQ through their website.
5. When was Pork Barrel BBQ on Shark Tank?
Pork Barrel BBQ made its national broadcast debut on Mark Burnett’s famous ABC television show Shark Tank on September 13, 2009.
6. When was Pork Barrel BBQ founded?
Pork Barrel BBQ was founded in 2009.
7. What methods of payment do they accepts?
Pork Barrel BBQ accepts payments through Amex, Amazon pay, MasterCard, Venmo, Visa, Apple Pay, PayPal and Diners Club.
8. How much was Brett Thompson and Heath Hall seeking in the Tank?
Heath Hall and Brett Thompson were seeking $50,000 for a 50% stake in the business.
9. Did they get the deal from Sharks?
Yes. Barbara invested $50,000 in exchange for a 50% stake in the business.
10. What Happened to Pork Barrel BBQ after the Shark Tank?
Barbara made her first Shark Tank investment. Collaboration with Barbara resulted in the development of three new sauces and a new product, bacon jerky.
11. Is Pork Barrel BBQ still in business?
Yes, as of December 2021, the firm is still going strong, with yearly revenues of $4 million.
