Cousins Maine Lobster, Wine & Design, and More Franchisors Made Deals on the Hit Reality Show
Hopeful entrepreneurs have been competing on Shark Tank since it originally aired in Aug. 2009. The hit reality show has been a game changer for many up-and-coming brands, including several franchises.
The idea for the show is simple: entrepreneurs present to a panel of experts — or “sharks,” — with a deal to invest in their business. The hope is that at least one shark will take a bite. Before deciding to invest or not, the sharks drill contestants with tough questions about sales, market, growth plan, and more.
Franchise Brands That Appeared on Shark Tank
After appearing on Shark Tank, the franchises below took their businesses to the next level. While some reached success thanks to the show, others stepped away and found it on their own.
Cousins Maine Lobster
Date on Shark Tank: Oct. 19, 2012
Deal: Owners and cousins Jim Tselikis and Sabin Lomac accepted $55,000 for 15% of the business from “shark” Barbara Corcoran. They initially asked for $55,000 for 5%.
Shark: Barbara Corcoran
How Shark Tank Changed the Business Model: The first Cousins Maine Lobster food truck launched in 2012. Tselikis and Lomac went on the show before scaling the business and getting another truck running. After accepting the deal from Corcoran, the business expanded with trucks and brick-and-mortar locations.
Fun Fact: The cousins turned down the opportunity to be on the show twice.
College HUNKS Hauling Junk and Moving
Date on Shark Tank: Debut episode on Aug. 9, 2009
Deal: Co-founders Omar Soliman and Nick Friedman turned down a deal from shark Robert Herjavec for $250,000 for 10% of College HUNKS Hauling Junk and Moving.
Shark: Robert Herjavec
How Shark Tank Changed the Business Model: Before going on the show, Soliman and Friedman made over $3 million in sales and expanded the business to six franchise locations. They went on the show looking for $250,000 for 25% equity in another venture called College Foxes Packing Boxes, a female-centric spin-off replica of College HUNKS. The spin-off ultimately went nowhere, and Soliman and Friedman turned down Herjavec’s offer in order to keep full ownership of College HUNKS.
Fun Fact: College HUNKS has donated more than 3 million meals to U.S. Hunger.
Tom + Chee
Date on Shark Tank: May 17, 2013
Deal: According to QSR, entrepreneurs Trew Quackenbush and Corey Ward asked for $600,000 for 10%; sharks Mark Cuban and Barbara Corcoran teamed up for a deal totaling $600,000 for 30% of the business and franchise rights to Texas and New York respectively. Cuban ultimately pulled out after pushing for corporate growth over the franchise, and Corcoran stayed in for an undisclosed amount.
Shark: Barbara Corcoran
How Shark Tank Changed the Business Model: Before appearing on the show, Tom + Chee had multiple locations. The brand continues to expand through franchising today.
Fun fact: Tom + Chee was acquired by GSR Brands in 2017.
Wicked Good Cupcakes
Date on Shark Tank: April 26, 2013
Deal: Mother-daughter duo Tracey Noonan and Dani Vilagie asked for $75,000 for 20% of the business. They accepted $75,000 for $1 royalty up to $75,000 and $0.45 on every jar ever sold from Mr. Wonderful, Kevin O’Leary.
Shark: Kevin O’Leary
How Shark Tank Changed the Business Model: Before appearing on the show, the cupcake jar company earned $73,000 in sales, and the storefront business made $100,000, according to Noonan. After making the deal on Shark Tank, Wicked Good Cupcakes became a nationally- recognized brand and launched its first food truck franchises in 2018.
Fun Fact: Noonan conceived the idea for the cupcake business after attending cake decorating classes with Dani.
Cinnaholic
Date on Shark Tank: May 9, 2014
Deal: Co-founders Shannon and Florian Radke originally asked for $200,000 for 20% of the business. The couple accepted the offer of $200,000 for 40% from “shark” Robert Herjavec but ultimately pulled out after the show’s airing.
Shark: Robert Herjavec
How Shark Tank Changed the Business Model: Herjavec urged the couple to focus on nationwide shipping, but they wanted to open more brick-and-mortar locations across the U.S.
Fun Fact: The swallow on Cinnaholic’s logo comes from the traditional sailor tattoo and represents experience and family.
Wine & Design
Date on Shark Tank: May 12, 2017
Deal: Entrepreneurs Harriet and Patrick Mills asked for $500,000 for 10% equity in the art studio franchise. The couple ended up getting $500,000 for 10% plus $350,000 at 12% interest, according to Shark Tank Recap.
Shark: Kevin O’Leary
How Shark Tank Changed the Business Model: The couple opened multiple Wine & Design locations before going on the show. All of the locations were owned by women. The brand continues to grow through franchising today.
Fun Fact: O’Leary was invited to the grand opening of the company’s 82nd store in Raleigh, N.C., in Dec. 2019.