Echo Valley Meat Shark Tank Update | Echo Valley Meat after Shark Tank
What is Echo Valley Meat?
Echo Valley Meat is a meat company that sells meat products online and through its retail store, located in Peoria, Illinois.
Echo Valley Meat is fresh, healthy, and sustainable food startup with plans to expand to the United States in the near future.
Echo Valley has developed a new, low-environmental-impact way of producing higher quality meat than traditional methods. It also offers custom processing services at affordable rates for farmers’ unsold animals.
Dave Alwan, founder of Echo Valley Meats, was reared in his family’s meat industry. When he was 11 years old, he began cutting meet and had to stand on a milk crate to reach the cutting table.
Echo Valley Meats’ product line includes prime rib, steaks, spiral-sliced hams, sausages, cheese, mixed nuts, gourmet coffee, and a variety of other foods.
The majority of goods is manufactured in Illinois and may be customized with a logo. Any goods can be sent in bulk or supplied individually to a customer’s home or business.
Who is the founder of Echo Valley Meat?
Dave Alwan, founder of Echo Valley Meats, was reared in his family’s meat industry. When he was 11 years old, he began cutting meet and had to stand on a milk crate to reach the cutting table.
Dave’s family owns the famed Alwan and Sons meat firm in Peoria, Illinois; in 1998, Dave sold his part and opened Echo Valley Meats in neighboring Bartonville.
Echo Valley Meats is a traditional, independent butcher shop with a meat processing business attached.
Echo Valley Meats has grown to three locations and added pre-made meals, catering services, and mail order items throughout the years.
Dave’s objective is to give the greatest quality meats to his consumers, and he plans to expand by building other “conventional” butcher shops in strategic places and boosting his online sales.
What Happened to Echo Valley Meat at Shark Tank pitch?
Dave made his first appearance on Shark Tank in Episode 26 of Season 22 to pitch his meat company to Shark Tank investors.
Dave presented the Sharks to his gourmet meats and provided several samples; he was seeking $300,000 for a 20% ownership in his firm.
Dave has been in the meat industry his entire life and is looking to grow via ecommerce.
The Sharks eat his food, and while they all enjoy it, there are those who have misgivings. Kevin is a fan of the product, but believes Dave is just interested in using the Sharks’ money to experiment with internet marketing; if he cannot see a return on his investment, he is out.
Robert has never heard of Dave and is therefore excluded, but he is a fan of the award-winning summer sausage. Mark believes Dave does not grasp ecommerce, and hence he is also out.
Daymond, who is not a huge meat eater, is also excluded. Lori believes Dave will be successful, but she does not believe she will be able to repay her investment soon enough, therefore she is also out.
Dave goes empty-handed, despite the Sharks’ feeding frenzy on his samples. He departs more adamant than ever.
Dave was unsuccessful in obtaining a deal in episode 26, but he was luck by pitching his firm for the second time on Episode 21 Season 4 in an attempt to secure a partnership with the Sharks.
He explains why he wasn’t able to close the business the first time and demonstrates how he discovered his client acquisition expenses.
Dave enters the Tank demanding $150,000 for a 20% stake in the firm valued at $750,000, less than half of what he initially requested; Dave states that he is here to strike a deal.
Following another description of his firm, his son wheeled out a cart with samples. Daymond recalls the cuisine as wonderful; the other Sharks concur, and Mark admits to ordering frequently.
Dave describes how his sales surged; he spun off the mail order firm and generated $1.4 million in revenue. This time, Dave is solely offering the Sharks the mail order business.
He continues by explaining that it costs $12 to get a client but just $1 to maintain one with profits of $260,000 on sales of $1.4 million.
Kevin contrasts Echo Valley to Omaha Steaks, which offers significant Christmas discounts. Dave needs the money to stock up on meat during the season’s cheap pricing.
Lori says she like Dave’s narrative but is not a huge meat eater, so she is exit the deal. Kevin offers $150,000 in exchange for 20% stake in Wicked Good Cupcakes if he sells them on the web; the condition is that he wants the entire business.
Robert offers $300,000 for 35% stake in the business, but Kevin replies with $150,000 for 17.5% equity in the business.
Mark counters with $150,000 for 25% equity shares in the mail order firm, with an option to purchase further shares in the retail operation, but he needs to know now. Dave closes the deal with Mark.
What Happened to Echo Valley Meat after Shark Tank?
Dave Alwan is maybe one of the most famous Shark Tank Success Stories of all time. He made over $1 million in sales in the weeks after the performance!
Following his performances, Dave continued to do well in business. He has $5 million in yearly sales as of October 2021.
Competitors of Echo Valley Meat
The company competes with the following companies in the market; Hill Meat, Everglades Seasoning, Baker Commodities, Prime Meats, West Coast Prime Meats, Slanker Grass-fed Meat, Augustus Ranch Meat Company and Ramey’s Marketplace.
Net Worth of Echo Valley Meat
During the pitch the company was valued at$750,000, after the investment done by Mark Cuban the company valued at $600,000 and since then the company had grown in sales with annual revenue of $5 million in 2021. The company net worth is estimated at $5 million.
Echo Valley Meat FAQs
What is Echo Valley Meat?
Echo Valley Meat is a meat company that sells meat products online and through its retail store, located in Peoria, Illinois.
Who is the founder?
The founder of Echo Valley Meat is Dave Alwan, who previously sold his part of the family meat business and founded Echo Valley Meat.
How much was asking on Shark Tank?
The company was seeking $150,000 for a 20% stake in the firm valued at $750,000.
Did he get the deal?
Yes, Dave did get the deal from Mark Cuban for $150,000 million for 25% equity shares in Echo Valley Meat.
Is Echo Valley Meat still in business?
The company is still in operation as of October 2021. The company has reported annual revenue of $5 million.
What meat company was on Shark Tank?
Echo Valley Meats was such a hit as a new Shark Tank product that it was quickly designated as a “Featured Update” in Season 4, Episode 21.
What is their mission?
They are a family owned and operated business with the goal of providing high quality, local products to customers throughout the U.S.
How do I buy Echo Valley Meat?
Customers can buy Echo Valley Meat online or in the retail store.
What is the phone number of Echo Valley Meat?
The phone number of Echo Valley Meat is +1 309-697-0083.
How do I pay?
Customers can pay for their orders via credit card, check and money order. Refunds will take approximately five to seven business days.
What is their website?
Echo Valley Meats’ official website is www.echovalleymeats.com.
Which email should I contact?
Please contact [email protected] with any questions or concerns.
How is the business model?
They maintain a retail store and offer hip, easy to use website for customers to order products online.
What is the marketing Strategy?
The Echo Valley Meat Company maintains an active social media presence on Facebook, Twitter and Instagram, in addition to the website.
What are Echo Valley Meat products?
Echo Valley Meat ship nationwide, using dry ice to package their products. They use a special imprinted grill that catches drippings for flavorful basting and have a selection of seasonings to add flavor to their meat.
Who are the targeted customers?
They offer products for both men and women as well as for children.
Are there any Echo Valley Meat deals?
There are no specific deals offered by the company at this time.
What is the net worth of Dave Alwan?
Dave Alwan’s net worth is unknown.
