CBS Foods Shark Tank Net Worth 2023
During the pitch on Shark Tank, CBS Foods company was valued at $800,000. Additionally, there were other investors who invested in the company.
Since appearing on the show, CBS Foods has made a lot of sales. As a result, it can be inferred that the valuation of the company has increased in 2021.
What is CBS Foods? Who is the founder of CBS Foods?
CBS Foods is a company located in Brooklyn, New York, USA that provides a variety of dining options to its customers.
Their offerings include French Fries made from Non-GMO soybean oil, as well as delicious burgers and chicken tenders made from free-range chicken that are both healthy and wholesome.
Additionally, the company provides a toppings bar filled with various flavors, including garlic, to enhance the taste of your food.
The founder of CBS Foods, Shawn Davis, was inspired to create the company after his 10-year-old daughter came home from school with a vegetarian booklet.
In response, Davis began developing meals using fish instead of traditional meat sources to support his daughter’s newfound passion for cooking.
Growing up in a challenging environment, Davis’s mother believed it was best for him to live with family friends who owned a restaurant.
It was there that he developed his love for cooking and learned the ins and outs of the industry.
Over time, Davis honed his skills and became interested in other food products, eventually discovering the U.S. Food and Drug Administration (FDA) while researching other food companies.
Davis saw an opportunity to create a product that differed from the industrial chemical flavorings used by other companies.
Instead, he developed natural and flavorful alternatives that could be used in a variety of settings, such as sprinkles for sweets and other baked goods found in fast food establishments.
CBS Foods Shark Tank Pitch
Shawn Davis decided to present his brand business idea to the Sharks investors after achieving success with his business. His aim was to seek their help in expanding his firm to a national level.
Upon entering the Shark Tank, Davis boldly requested $200,000 for 25% of the company at a $800,000 value. He then showcased his Shrimp Burger in four variants and offered samples to the Sharks, tempting them with his delicious offerings.
Davis emphasized the size of the hamburger and turkey-burger markets, claiming that his company, CBS Foods, was best positioned to capture a share of the market.
Kevin O’Leary expressed concerns about the cost of making and selling Shrimp Burgers, stating that the cost of manufacturing was $.87 against a sale price of $1.63, indicating little margin.
However, Davis argued that they were buying a brand, and his margins were a solid 63 percent when all factors were considered.
While Mark Cuban loved the product, he was unfamiliar with the food industry and could not offer value, so he was out of the deal. Barbara Corcoran didn’t like shrimp, so she declined the offer.
Kevin O’Leary informed Davis that he was already doing business with him since he owned the debt of one of the top shrimp firms. However, he believed that Davis’ margins were insufficient, and he exited the deal.
Robert Herjavec felt that Davis’ valuation was too high, so he withdrew from the deal. Only Daymond remained at the table after four Sharks left. However, he also declined the offer, as he felt that Davis’ valuation was too high.
Even though the Sharks did not invest in his company, the televised exposure drew the attention of other investors, and CBS Foods now has annual sales of more than $5 million.
Despite the Sharks’ missed opportunity, Chef Big Shake resurfaced in 2018 as Big Shake’s Hot Chicken, a quick casual restaurant in Nashville with one franchisee in Huntsville, AL.
In the autumn of 2021, a third site will open in Tampa. He also offers his breading mix and spices to restaurants and customers. The new enterprise will make $3 million each year by 2021.
Competitors of CBS Foods
The company competes with companies that are creating similar or identically branded snacks. These include; Netflix, The Walt Disney Company, NBCUniversal and Hulu.
Net Worth of CBS Foods
During the pitch the company was valued at $800,000 and there other investor in the company who invested and also they have make a lot of sales since the Shark Tank episode.
This mean the valuation of the company have increased in 2021.
CBS Foods FAQs
What is CBS Foods?
CBS Foods is a company which offers dining choice to its consumers, in the form of products such as French Fries which are made from Non-GMO soybean oil, delicious burgers and chicken tenders that are made from free range chicken which is not only healthy but wholesome.
The company also supplies a toppings bar that is filled with flavors such as garlic to make your food taste good.
Who is the founder?
Shawn Davis is the founder of CBS Foods. He founded the company when his 10-year-old daughter brought home a vegetarian booklet in school, which inspired him to think in terms or coming up with meal ideas that used fish instead of meat.
What is his offer on Shark Tank?
Shawn was asking for $200,000 for 25% equity of the company at valuation of $800,000.
Did he get an offer?
No, the Sharks refused to invest in the company.
Is still in business?
Yes, CBS Foods is still in business and making sales in the market.
Is he still in the industry?
Yes, Shawn Davis is still in the industry and working as a consultant.
Has there been any news on his personal life?
No, no news about his personal life or else.
Who are the competitors?
The company competes with companies that are creating similar or identically branded snacks. These include; Netflix, The Walt Disney Company, NBCUniversal and Hulu.
How is the business model?
The company’s business model involves exploring the market of potential clients and negotiating with them on their needs.
After this, the firm produces products that satisfy the needs of the consumers.
Is it profitable?
CBS Foods is in the process of making its sales profitable, however, at this point in time, it is difficult to determine their profitability.
What are the strengths?
The strengths of the brand include; it is easily available, it has a large market and the company supply the product at a cheaper price, compared to others in the same field.
What is the weakness?
The main weakness of this brand includes; lack of knowledge and experience, growing demands and preferences and not having enough funds to start up.
What is his projected future growth?
Chef Big Shake’s Hot Chicken plans to expand across Tennessee and Alabama with franchisees until 2021.
What is the business strategy?
The company’s business strategy involves coming up with new ideas that will satisfy majority of the consumers. This then ensures that the firm remains within the market.
What is his competitive advantage over others?
The company’s competitive advantage includes; their ability to come up with new products, high standards of service and low prices.
Shawn Davis was able to come up with new ideas that satisfied majority of the consumers. He also came up with new products that kept him within the competition.
How much is his revenue?
CBS Foods has annual sales of more than $5 million.
What is the net worth of Shawn Davis?
The net worth of Shawn Davis is estimated at $6 million.
