Chi’Lantro BBQ Net Worth
Chi’Lantro BBQ was valued at around $3 million when it appeared on Shark Tank. Since then, the company has earned over $9 million and is now worth about $10 million.
The founder has also shared some insights into how the experience changed her life. In 2017, Barbara Corcoran invested $600,000 of her own money for 20% equity in Chi’Lantro BBQ.
What is Chi’Lantro BBQ and Who is the Founder of Chi’Lantro BBQ?
Chi’Lantro BBQ is a restaurant and food truck that offers a unique fusion of Korean BBQ and Mexican cuisines. Their menu includes items such as kimchi fries, Korean fried chicken wings, tacos, and Mexican-style rice bowls that are infused with Asian spices.
Jae Kim founded Chi’Lantro BBQ in 2010 in Austin, Texas, and his best-selling dish is the Kimchi Fries, which are caramelized kimchi fries topped with cheddar, onions, cilantro, sriracha, and a magic sauce.
After seven years in business and with several brick-and-mortar locations in the Austin region, Kim’s food truck and restaurant gained widespread popularity for its innovative concept of blending Korean and Mexican flavors.
The fusion of classic Mexican cuisines such as tacos with Korean cuisine was pioneered by California in the mid-2000s. Jae Kim introduced this concept to Texas, where it quickly became a hit with food lovers.
Chi’Lantro BBQ Shark Tank pitch
Jae Kim, the founder of Chi’Lantro BBQ, auditioned for Shark Tank three times before being chosen to participate on the show.
During his pitch, he asked for $600,000 in exchange for a 15% stake in his company, which was valued at $4 million. Kim had already established a fleet of food trucks and three brick-and-mortar restaurants, with plans to expand to four.
The Sharks were impressed with Kim’s Korean-Mexican fusion cuisine, particularly the kimchi fries, and Barbara Corcoran offered $600,000 for a 30% stake, which Kim countered with a 20% stake, and the two struck a deal.
However, the deal ultimately fell through, and Kim continued to grow his business, with eight restaurants, a catering division, and a truck fleet.
During the Covid-19 pandemic, Kim pioneered the concept of neighborhood pop-ups, where he parked a truck in a neighborhood for a few hours, allowing residents to access his food while adhering to quarantine protocols.
Despite the failed deal with Corcoran, Chi’Lantro BBQ is thriving, with annual revenues estimated to be $14 million in 2021.
Net Worth of Chi’Lantro BBQ
The company was valued at $4 million during the pitch, after Barbara Corcoran’s acquisition the company was valued at $3 million.
However, the company had made a lot of sales since then with annual revenue of over $14 million. This shows that the net worth of the company has increased in 2021.
Chi’Lantro BBQ FAQs
What is Chi’Lantro?
Chi’Lantro is a restaurant and food truck specializing in fusions of Korean BBQ and Mexican cuisines.
Their unique menu features kimchi fries, Korean fried chicken wings, tacos, and Mexican-style rice bowls blended with Asian spices.
What is Chi’Lantro BBQ Founded?
Chi’Lantro BBQ was founded in 2010 by Jae Kim in Austin, Texas.
What is his offer on Shark Tank?
Jae was asking for $600,000 for 15% equity shares of the company.
Did he get the deal?
Yes, Barbara Corcoran gives him $600,000 for 20% of the company’s shares, which were valued at $3 Million. She got the deal done with Jae Kim.
Did they close the deal?
No, the deal didn’t get closed.
Is Chi’Lantro still in business?
Yes, The Company is still in business.
Where is Chi’Lantro located?
Chi’Lantro is in Austin, Texas.
Is his food tasty?
Yes, your food taste is very yummy and good.
What does Chi’Lantro mean?
Chi’Lantro means “Kimchi friend” in Korean.
How did he start the company?
Jae Kim launched his first Chi’Lantro BBQ food truck in 2010 after graduating from college with a degree in physics.
What is his Product?
Korean food served in restaurants and food trucks in Austin, Texas.
Who are his competitors?
Nothing much in Austin, Texas market only one restaurant in Austin called Seoul Grill restaurant.
Is Chi’Lantro kimchi vegan?
Chi’Lantro, known for its Kimchi fries, is a popular Korean-Mexican fusion restaurant in the Austin neighborhood.
The signature hot kimchi topping is vegan, and virtually every dish on the menu may be customized to be vegan or gluten-free. Chi’Lantro bowls, tacos, and burritos are all customized.
What is in Chi’Lantro magic sauce?
It made by mixing 2 tablespoon gochujang, a Korean chili paste add 2 tablespoon soy sauce 1 tablespoon and kimchi 1 tablespoon mayonnaise.
How successful is Chi’Lantro?
According to Kim, Chi’Lantro grossed an amazing $4.7 million in sales last year. “That is badass,” Kevin exclaims. “How much of that was due to truck traffic?” The money generated by the vehicles alone was between $300,000 to $400,000. Restaurants account for the remainder of sales, bringing in between $1 million and $1.5 million every year.
How many calories are in kimchi fries?
Fellow aficionados will concur with Wang when she expresses her fear of discovering the fat and calorie content.
Wang seems unsurprised, though, when I inform her that the kimchi fries have 1,183 calories and 86 grams of fat.
How many locations does Chi’Lantro have?
All five of our Chi’Lantro sites are easily accessible, with enough parking. I keep this in mind while selecting a site so that our customers feel comfortable entering the restaurant, picking up their meal, and returning to their business or home.
What is Chi Jeu Queso?
Chips with Chi’ Jeu Queso with crunchy corn tortilla chips, green chile queso.
What is the net worth of Jae Kim?
Jae Kim has a net worth above $7.72 million.
