What Happened to Simply Good Jars After Shark Tank?
What is Simply Good Jars?
Simply Good Jars is a firm that provides ready-to-eat chef-prepared meals in jars. In addition to a focus to high-quality ingredients and minimal packaging, SouthWestern Cobb, Smoked Salmon, Simply Greek, and Heavenly Pesto are now available.
Furthermore, Simply Good Jars is committed to conducting business in an ethical and sustainable manner that helps both the company and the society.
Simply Good Jars was founded by Philadelphia chef Jared Cannon. Jared graduated from The Culinary Institute of America with an associate’s degree in culinary arts, Florida International University with a bachelor’s degree in business administration, and Temple University’s Fox School of Business and Management with a master’s degree in business administration.
After completing his education, he worked in a number of high-level roles in the food sector, including Corporate Executive Chef, before founding Simply Good Jars.
Who is the founder of Simply Good Jars?
Simply Good Jars was founded by Philadelphia chef Jared Cannon. Cannon was a well-known chef in Philadelphia for 18 years, but while getting an MBA and working full-time, he regularly ate “quick, easily available, and usually unhealthy” cuisine. He wanted fast food that was also healthful, so he started his own brand.
In 2017, he began selling Simply Good Jars in the Philadelphia area. Packaging is also an important component of the story.
The packaging for the food is composed of recycled plastic and is intended to be reused.
Customers who repurchase may return the jars to be cleaned and reused. For each jar returned to Phil abundance or the Salvation Army in the Philadelphia area, Jared gives one meal.
In terms of food, each jar holds 9.2 ounces. Weekly menus change, but at the time of writing, they featured Southwestern Cobb Salad, Simply Greek Salad, Smoked Salmon, Chicken Quinoa, and Heavenly Pesto.
The price of each jar is $9.49. They are now restricted to the Philadelphia area, but Conrad plans to expand. Currently, Go Puff only delivers inside the Philadelphia metropolitan area, despite the fact that the firm has over 500 delivery hubs globally.
What Happened to Simply Good Jars at Shark Tank pitch?
Jared Cannon hopes the Sharks will bite on his Simply Good Jars, which are nutritional meals packaged in recyclable jars, in Shark Tank episode 1217. Perhaps Conrad needs the help of a Shark to get out of Philadelphia.
Jared appeared on Shark Tank in seeking of $500,000 in return for a 7% stake in his company, which worth $7.1 million.
After giving his presentation and sharing his expertise, he distributes samples. The Sharks adore the salads, which cost between $2.50 and $3.60 to cook but cost between $8.99 and $10.99 to purchase. In 2019, he made $300,000 in sales.
He expects to earn between $700,000 and $750,000 in 2020. The company expects to be profitable in 2021. He has raised $2.5 million to date and presently owns 51% of the company.
The Covid-19 outbreak pushed him to make a dramatic change. The majority of sales came from “smart coolers” installed in hotels, airports, conference centers, corporate buildings, and schools and universities.
When the outbreak hit, the bulk of those locations “disappeared overnight.” He moved into 175 convenience stores and a few local Walgreens sites, where he started cooking salads in cloud kitchens and offered delivery through Grub Hub and others.
Kevin offers $500,000 in return for a 9.5% interest and a 7% stake in the company.
Robert was the first Shark to exits, and he was swiftly followed by Daymond.
Mark was pleased and expressed a desire to contribute $500,000 in return for a 7% stake in the company. Jared replies with an offer of 8% equity, but Mark wants Lori in on the deal as well for $500,000 in exchange for 10% equity shares. Jared accepts the offer and goes away with a deal.
What Happened to Simply Good Jars After Shark Tank?
Mark and Lori’s deal was never completed. Following the first air date, sales increased by 1500%, and the company received over 750,000 inquiries.
They just built a third facility in the Philadelphia area and want to distribute their products in 28 states by 2022, thanks to certain undisclosed partnerships.
The firm is still in operation as of February 2022, with yearly revenues of $4 million.
Net Worth of Simply Good Jars
During the pitch, the firm was valued at $7.1 million. Since then, the company has continued to operate, and its net worth may now exceed that of pitch.
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Simply Good Jars FAQs
What is Simply Good Jars?
Simply Good Jars is a Philadelphia, Pennsylvania-based fast-casual restaurant. They specialize in chef-prepared, ready-to-eat meals served in reusable jars rather than plastic or paper containers to consumers.
Who is the founder?
Simply Good Jars was established by Philadelphia chef Jared Cannon. For 18 years, he was a renowned chef in Philadelphia, but while getting an MBA and working full-time, he regularly ate cuisine that was “fast, easily available, and usually unhealthy.”
How much was seeking on Shark Tank?
Jared was looking for $500,000 for a 7% stake in the company, which was worth $7.1 million.
Who invested on Simply Good Jars?
Mark and Lori made a $500,000 investment in this firm in exchange for 10% equity shares.
Is Simply Good Jars still in operation?
Before Shark Tank premiered, Jared and his partner sold 2,000 jars in a week. The firm is still in operation as of February 2022, with yearly revenues of $4 million.
What is the price of Simply Good Jars?
Throughout the Philadelphia area, each jar costs $9.49. (At time of publishing). They are now restricted to the Philadelphia area, but Conrad plans to expand.
Where is Simply Good Jars’ headquarters located?
Simply Good Jars’ headquarters are in Philadelphia.
How long do Simply Good Jars remain fresh?
Each jar has fewer than 600 calories and may be stored in the refrigerator for up to five days. They also offer catering, which is perfect for eating fresh during in-office meetings.
What is the return procedure for Simply Good Jars?
Simply scan the QR code on the jar and pledge not to throw it out; they’ll make a gift to a local food bank to help someone in need.
What kind of company is Simply Good Jars?
Produces food jars with the goal of delivering food to local residents through vending machines.
Is delivery available for Simply Good Jars?
Yes, Simply Good Jars ships globally and there are no additional shipping price. It only takes a few minutes to have a wonderful lunch delivered to your office.
What exactly is Simply Good Jars data?
Simply Good Jars sells ready-to-eat, chef-prepared meals in food jars. They are now restricted to the Philadelphia area, but want to expand beyond that shortly.
Is it safe to eat Simply Good Jars?
Yes, Simply Good Jars are food-safe. They are composed of recyclable and toxin-free materials that are safe to use in the microwave or dishwasher. Brown rice, chicken, broccoli, and carrots are among the components used in the meals.
