Legal Grind Shark Tank Net Worth 2023
Legal Grind, a company that appeared on the television show Shark Tank, was evaluated to be worth $1.3 million.
As of June 2022, the company’s net worth was estimated to be $1.5 million. However, it is currently uncertain what the company’s net worth will be in the year 2023.
What is Legal Grind? Who is the Founder of Legal Grind?
Legal Grind is a firm that offers affordable legal representation for uncontested legal situations, including spousal and child maintenance, divorce, and will drafting.
The legal specialists at Legal Grind assist clients in preparing the necessary documents to represent themselves in court. These professionals can meet with clients at coffee shops, workplaces, or over the phone or remotely.
Legal Grind was founded in 1996 by Jeff Hughes, a certified attorney who graduated from law school in Los Angeles and passed the Bar Exam.
However, due to a sluggish economy, job opportunities were scarce for Jeff.
As a result, Jeff’s mission was to discover a way to provide high-quality legal assistance to as many people as possible. Even though the physical facility has closed, Jeff remains the CEO of Legal Grind.
Jeff introduced the “coffee and counsel” concept when he launched Legal Grind, which aimed to provide low- to middle-income workers with affordable access to an attorney or paralegal from a Santa Monica coffee shop.
This original idea attracted a lot of media attention, enabling thousands of Americans who couldn’t afford an attorney to obtain the legal assistance they needed.
Although Legal Grind has expanded and diversified its services over time, Jeff’s core belief that everyone should have access to the legal protections and rights offered by the US legal system remains the same.
Legal Grind Shark Tank Pitch
Jeff and Annie were contestants on season 1 episode 13 of Shark Tank, seeking a $200,000 investment for a 15% stake in their company, which would value it at $1.3 million.
During their pitch, Jeff explained that their company, Legal Grind, earns around $200,000 annually with a profit of $20,000 to $30,000. However, the Sharks had mixed opinions about investing.
Daymond John was hesitant to invest in a business that involved working with lawyers, while Barbara Corcoran was skeptical of the company’s potential to replicate its success through franchising.
Kevin Harrington emphasized the importance of addressing any issues before expanding through a franchise model and didn’t think Legal Grind was currently a well-oiled machine.
Robert Herjavec disliked the concept of Legal Grind and believed that Jeff and Annie had no intention of franchising until recently.
Kevin O’Leary found no value in the company and dismissed it as “terrible theatre.”
Ultimately, Jeff and Annie chose not to franchise and instead continued to operate their original Legal Grind store. Jeff also maintains a legal blog and serves coffee at the store, although the physical location closed in June 2021. Legal services are still available through their website.
What is the Net Worth of Legal Grind?
Jeff and Annie appeared on Shark Tank in search of a $200,000 investment in exchange for a 15% ownership in their firm. This translates to a $1.3 million valuation. Current net worth is unavailable.
Who are Competitors of Legal Grind?
Legal Grind faces competition in its market space from the firms such as; Calegal1, Bruce Verhoeven Foundation and Petersen Law.
Legal Grind Shark Tank Episode Summary
|Shark Tank Episode||Shark Tank Season 1 Episode 13|
|Founder & Entrepreneur||Jeff Hughes|
|Amount Asked For||$200,000 for a 15% stake in the business|
|Deal: Accepted Offer||No deaL|
|The Shark Investor||nON|
|Business Net Worth||$1.33 million valuation|
|Business Status||The business is no longer operations|
Legal Grind FAQS
What is Legal Grind?
Legal Grind is a business that provides legal services to people who are unable to afford a lawyer.
Who is the founder of Legal Grind?
The founder of Legal Grind is Jeff Hughes.
How much were they seeking in the Shark Tank?
The Sharks wanted a $200,000 investment in exchange for 15% of their company.
Did they get the deal from the Sharks?
No, The Sharks were not interested in the deal and Jeff and Annie made their way out of the Shark Tank.
Is Legal Grind still in business?
The physical location is no longer open as of June 20, 2021. Legal services are still offered through the website, and Jeff maintains a frequent blog regarding legal topics.
Where is Legal Grind located?
The physical location is located at Santa Monica, California.
When was Legal Grind established?
Legal Grind was established in 1996.
What services does Legal Grind provide?
Legal grind provides legal representation for uncontested family court matters such as spousal and child maintenance, divorce, will drafting and bankruptcy filing.
How much does it cost to represent themselves?
The cost of legal representation depends on the type of case they are involved with.
What is the business model for Legal Grind?
Attorney Jeff Hughes started Legal Grind in 1996 employing a “Coffee and Counsel” model — combining a coffee shop on Lincoln Boulevard in Santa Monica with access to attorneys delivering casual, face-to-face legal counsel available at the tables for a small fees.
When was Legal Grind aired on Shark Tank?
Legal Grind was aired on Shark Tank Season 1 Episode 13 on January 29th, 2010.
Does Legal Grind have a physical location?
No, the physical location was shut down in June 2021.
What is net worth of Jeff Hughes?
Jeff Hughes’s net worth is unavailable.
What is the target market for Legal Grind?
The target market for legal services is low-income individuals and families, who are otherwise unable to afford a lawyer.
What is Legal Grind mission?
Legal Grind’s mission is to provide middle-income Americans and small companies with inexpensive, skilled legal services in novel ways.