What Happened to Traditional Fisheries After Shark Tank?
What is Traditional Fisheries?
Traditional Fisheries was a seafood distribution company concerned about the growing population of lionfish in the Atlantic Ocean, which had been labeled an “environmental terrorist.”
Lionfish have no natural predators because of their venous spines; they feed on lucrative snapper, grouper, shrimp, crab, and lobster larvae.
Traditional Fisheries was founded to encourage people to consume Lionfish (which are entirely safe to eat) to help reduce the economic and ecological impact caused by lionfish in the ocean.
Dave Johnson, the originator of Traditional Fisheries, is a fisherman from Wayzata, Minnesota. On the Riviera Maya in Mexico, he spent time fishing for large game fish such as gigantic snoop.
He married and moved to the area shortly after. Johnson became aware of the Riviera Maya reef’s and its residents’ alterations.
Who is the founder of Traditional Fisheries?
Dave Johnson and Gary Groomes founded Traditional Fisheries. Dave Johnson has made it his duty to aid in eliminating invasive Lionfish from the Caribbean Sea and along the Florida coast.
The Lionfish is a Pacific Ocean native mainly found in Indonesia; it is also a popular aquarium fish. Lionfish first arrived in coastal Florida in the 1990s, and it is thought that they entered this foreign ecology due to careless aquarists throwing them into the ocean.
The Lionfish is poisonous and has no natural predators in the seas of the southern United States and the Caribbean. This led to an increase in their population and a negative impact on several indigenous species, including grouper and snapper.
Furthermore, by preying on the species that maintain coral reefs, they contribute to the destruction of the reefs. While the Lionfish may never be wholly eradicated in its new environment, the Traditional Fisheries people have a natural way of regulating it: they capture and prepare it. Their business is catching and selling Lionfish for human use.
What Happened to Traditional Fisheries at Shark Tank pitch?
On Shark Tank episode 419, Gary Groomes and Dave Johnson pitch Traditional Fisheries swim. They are seeking a Shark to help them build their business.
Gary Groomes and Dave Johnson came to Shark Tank seeking $225,000 in return for a 25% stake in their firm, worth $900,000.
They characterize the lionfish as an “environmental terrorist,” saying that since its accidental introduction 20 years ago, it has become the second most common species in the Atlantic and Caribbean seas.
Because of their lack of natural predators and ferocious appetite for commercial species such as snapper, lionfish pose a severe threat to the ecological equilibrium.
Groomes and Johnson propose resolving the issue by turning lionfish into a delectable dish.
Daymond John was curious about how the fish, which live in caverns on reefs, might also be caught commercially.
The fish, according to Groomes, must be speared. The pair has arranged for spearfishermen to supply their catch. During the previous year, the company earned $12,000 in sales.
The most difficult challenge for the company, according to Robert Herjavec, will be educating consumers about the new fish dish. “I don’t care how much supply they have if there is no demand,” he says as he exits.
Kevin O’Leary mentions lobster’s origins, claiming that it took 40 years to evolve from “the sea’s bug” to a delicacy. He believes that lionfish will take too long to create a commercial presence. He also exits.
Resolving the “educational problem,” according to Daymond John, will cost more than $225,000. He went out. Mark Cuban agrees. He went out too.
Lori Greiner favored anything that helps the economy, but she “can’t imagine people running to eat lionfish.” The final Shark exits and the couple leaves without concluding a deal with the shark.
What Happened to Traditional Fisheries After Shark Tank?
The complex subject of consumer education appears to have been too much of a turnoff for the Sharks. Markets for lionfish would have to be built from the ocean floor up.
When the product is so difficult to get, the cost of marketing and building a market niche is just too expensive.
Traditional Fisheries would not have been able to continue their mission of eradicating the invasive lionfish from the Atlantic and Caribbean without a Shark investment.
Their website is no longer operational, and their social media accounts have been dormant since 2011.
They can only hope that others will step up to combat invasive species and take the place of Traditional Fisheries, which has been sunk beneath the waves.
This company went out of business a few months after their show aired. They might have been forerunners.
Lionfish filets are now available in Publix and Whole Foods Market and various online retailers as of July 2021.
Competitors of Traditional Fisheries
Traditional Fisheries’ business was quite similar to that of Live Wild Fish, Inc. Both organizations intend to collect and prepare Lionfish to provide consumers with a safe and delicious alternative to their current fish selections.
Net Worth of Traditional Fisheries
During and after the pitch, the firm was valued at $900,000. Since then, the company has gone out of business; therefore, the net worth is not available.
Traditional Fisheries FAQs
What is Traditional Fisheries?
Traditional Fisheries is a spearfishing service that contributes to the interests and demands of Florida’s marine ecology.
Who was the founder?
Dave Johnson and Gary Groomes started Traditional Fisheries.
Who was the company’s CEO?
Dave Johnson and Gary Groomes started Traditional Fisheries. Mr. Johnson is the CEO of Traditional Fisheries, while Mr. Groomes serves as President and Director of the firm.
How much funding did Traditional Fisheries ask from the Sharks?
The Traditional Fisheries Company requested $225,000 in return for a 25% ownership in their company, which would be worth $900,000 after Shark Tank.
How much money did Traditional Fisheries make from Shark Tank?
Traditional Fisheries did not receive a deal during their Shark Tank presentation.
Is Traditional Fisheries still in operation?
Traditional Fisheries went out of business, and it appears that its efforts to combat the invasive Lionfish in Florida and other states have been put on hold. They could have gone out of business since then.
What products did Traditional Fisheries offer?
Lionfish filets were available for purchase at Traditional Fisheries. They also had a free recipe section on their website, and they will be publishing a book soon.
How did Traditional Fisheries begin?
Dave and Gary banded together to help their community by eradicating an unwanted species from the sea, utilizing Dave’s spearfishing skills.
Were Traditional Fisheries safe to consume?
Traditional Fisheries was deemed safe for human consumption. All of the goods were hand-picked to assure quality control, and the lionfish captured were healthy and well-cared for before being served.
Was traditional fishing legal?
Traditional Fisheries was entirely lawful because they fished in open waters using traditional ways rather than unreleased prohibited species. The firm gave a brief history to convince buyers that the lionfish were never taken illegally on its website.
Were Traditional Fisheries’ products being shipped?
As a way of distributing its Lionfish, the Traditional Fisheries Company used to send items worldwide. However, its website has been dormant since 2011, and it is unclear whether they are still delivering items out of Florida.
Where did the lionfish get caught by Traditional Fisheries?
Traditional fishermen captured lionfish in open seas off the coast of Florida by spearfishing. They first targeted Atlantic and Caribbean Lionfish but will extend to other places as their expansion plans progress.
How much did Traditional Fisheries charge for a lionfish?
On their website, Traditional Fisheries offered complimentary recipe booklets and lionfish filets. It is unknown how much they charged for the lionfish filets, but the free books were accessible through online retailers such as Amazon and Barnes & Noble.
How can I place an order for Traditional Fisheries’ products?
Traditional Fisheries’ items are available on their website; however, they have subsequently been withdrawn from the product list due to their demise.
Is Traditional Fisheries accredited?
Traditional Fisheries lacked any legal or non-legal accreditation. They declared on their website that they were not certified by any federal authorities but that they complied with all spearfishing rules and regulations.
Does Insurance cover traditional Fisheries?
Traditional Fisheries lacked insurance and operated on an unofficial basis.
What distinguished Traditional Fisheries?
Traditional Fisheries aimed for a very specialized niche market, the demands they were able to meet through spearfishing programs.
They have also received much media attention in recent years because of the hopeful nature of their attempt to eradicate Lionfish from Florida waterways.