Jada Spices Shark Tank Net Worth 2023
With an estimated net worth of $1.2 million in 2021, Jada Spices has come a long way since receiving their deal on Shark Tank.
In only a year, the company’s value has grown to $757K and it generated an astonishing $4 million in sales during May 2022.
With estimates of even higher sales at the end of 2022, it looks as though Jada Spices will continue its impressive growth streak for years to come.
What is Jada Spices?
Jada Spices Chicken Salt is a nutrition and product company that produces healthy and vegan alternatives to several conventional cooking ingredients. Their products are not only vegan and nutritious but also certified Kosher and GMO-free.
Their product line includes five varieties of their renowned Chicken Salt, Turmeric Salt, Plant-Based Porkless Mix, Plant-Based Chick’n Mix, and Plant-Based Mediterranean Chick’n Mix.
The founder of Jada Spices Chicken Salt is Khasha Touloei. Before starting the company, Khasha was focused on becoming a medical doctor. He completed his medical degree from the College of Osteopathic Medicine of the Pacific in Pomona, California in 2012 and is now a board-certified dermatologist.
The idea for Jada Spices Chicken Salt stemmed from the challenges Khasha faced as a medical student. During his studies, he observed that patients with high blood pressure and type 2 diabetes often failed to comply with dietary recommendations.
He believed that people’s resistance to change was primarily due to taste and flavor, and he wondered if healthier foods could be made more appealing, especially for those who are medically vulnerable.
This led to the development of Jada Spices Chicken Salt and subsequently, plant-based vegan mixes. Khasha’s objective was to make healthy cooking more accessible, easier, and ultimately, more enjoyable.
What happen to Jada Spices at the Shark Tank Pitch?
Kasha works as a dermatologist, while Maynard is an engineer who founded Hip Hop Science, a company that teaches STEM to kids.
Maynard also has a full-time job at FLOW Media Group, a social media digital agency, but he and Kasha have managed to attend culinary exhibits across the United States to promote their products for the past two years.
During their pitch to the Sharks, Kasha and Maynard offered a 20% stake in their company for $250,000, indicating a valuation of $1.25 million. They shared their story, distributed samples, and fielded questions.
The Sharks were impressed by the flavor of their various spices, especially their latest product, the Plant-Based Chick’n Mix, which can be used to create vegan chicken-flavored patties and nuggets at home.
The cost of producing each chicken salt flavor is about $0.80, but they retail for $8.99 on Amazon and $4.99 in stores, resulting in substantial profit margins.
Despite the impressive margins and compelling pitch, most of the Sharks were hesitant to invest in the food and spices industry. While they enjoyed the taste, some Sharks expressed skepticism. Mark was wary of entering the market, and Kevin was concerned that the company lacked focus and direction. Lori believed that the company was not yet ready for investment.
However, Barbara Corcoran, who has experience building and developing businesses similar to Jada Spices, was willing to invest $250,000 for a 33% ownership stake in the company.
Jada Spices after the Shark Tank Pitch.
As of July 2021, it appears that the agreement with Barbara has not been successful. Due to the inclusion of several new menu items, the company changed its name to Jada Brands.
They introduced Mediterranean Chicken and a meat substitute made from synthetic pork to their vegan chicken offerings. The company generates an annual revenue of $4 million.
Jada Spices Net Worth
Jada Spices Net Worth is estimated to be $1.2 Million in 2021.
Jada Spices Competitors
There are no competitors identified for Jada Spices.
Jada Spices FAQS
How much does Jada Spices Cost?
Jada Spices sells for $4.99 on Amazon and $8.99 in shops.
Is it true that Jada Spices landed a contract on Shark Tank?
Dr. Khasha Touloei and Maynard Okereke entered Shark Tank Season 12 Episode 4 seeking $250,000 for 20% of their vegan chicken salt and Seasonings Company, and accepted an offer of $250,000 for 33% from Barbara Corcoran.
How did Jada Spices perform on Shark Tank?
The sharks were immediately won over by Jada Spices, appreciating the flavour of the salts and the flavours of the plant-based chicken.
The impressions were heightened when Khasha and Maynard revealed that they had sold $319,000 in chicken salt in 2019 and were on target to sell approximately $500,000 in 2020.
Jada Spices is owned by whom?
Khasha Touloei owns the company.
How are Jada Spices products sold?
They are sold online via their website, as well as in GNC, Vitamin Shoppe, Fresh Thyme Farmers Market, and other retailers.
What is the revenue of Jada Spices?
Jada Spices has an annual revenue of $4 million.
Is Jada Spices an investment opportunity?
Yes, it is an investment opportunity. They can invest in the company.
Is Jada Spices a Scam?
Jada Spices is a legit company.
Has Jada Spices been on Shark Tank?
Yes, it has been. It appeared on Season 12 Episode 4 on 6, November 2020. It went into a deal with Barbara Corcoran.
How can they contact Jada Spices?
They can contact them through their official website at www.jadaspices.com or by emailing them at [email protected]
How long do Jada goods have a shelf life?
Their seasonings may be properly kept for a period of four years (expiration date can be found printed on all bottles).
To avoid caking with the lid closed, we recommend storage in a cold, dry place.
Each bag of their Chick’n Mix will also have an expiration date printed on it (usually one year).
What should they do with their Chick’n Mix and Chicken Salts?
To avoid caking with the lid closed, they recommend storage in a cold, dry place.
Are Jada Chicken Salts gluten-free?
Yes! Gluten-Free Chicken Salt is available. They’re also MSG-free, soy-free, and completely vegan.
Where can they discover recipes that make use of their products?
Their Vegan Chicken Salt and Plant-Based Chick’n Mix spices are great for bowls, spaghetti, soups, tacos, and more.
Their spices are equally delicious with non-vegan foods like fish, red meat, chicken, eggs, and others. On their website, they may find recipes and meal ideas.
Where exactly are Located?
Their headquarters are in beautiful Los Angeles, California, right here in the United States.
They are now an internet business, with merchandise supplied from Miami, Florida.
Is there soy in the Plant-Based Chick’n?
Their Plant-Based Chick’n mix has no soy whatsoever.
What exactly is turmeric?
Turmeric is a spice obtained from the turmeric plant’s roof.
It is recognized to have anti-inflammatory properties, among many others.
Turmeric is present in all of their seasoning combinations.
Their Turmeric Salt has more turmeric than their Chicken Salt tastes.
What is the net worth of Khasha Touloei?
Currently there is no update about his worth.
What is the net worth of Maynard Okereke?
Currently there is no update about his worth.
Does the Plant-Based Chick’n need to be refrigerated?
Their Plant-Based Chick’n requires no refrigeration. Feel free to keep it wherever they like. Once prepared, they recommend storing it in the refrigerator like any other meal.
Why is it named Chicken Salt?
Chicken Salt began in Australia and rapidly became a cultural phenomenon.
The original Australian mix incorporates dried chicken fat and chicken stock to give it the distinctive chicken flavour, thus the term “chicken salt.”
Their Vegan Chicken Salt has the same excellent flavour that consumers enjoy without any animal byproducts, MSG, or chemicals.
They also incorporated turmeric to give additional health advantages.
