Nuchas Shark Tank Net Worth 2023
In 2019, Barbouth appeared on season 10 of Shark Tank seeking $2 million for an 8% equity stake, giving it a valuation of $25 million.
However, he could not negotiate a fair deal with the potential investors on the show and left without any funding. Despite this setback, Nuchas continued to grow.
It launched an online store and opened up food stalls in other high-traffic locations like Jacob Javits Center and Georgia World Congress Center.
Nuchas currently makes over $5 million per year. The company has recovered from losses due to the COVID-19 pandemic and is doing better than ever.
It has opened three more outlets since appearing on Shark Tank, bringing the total number of retail outlets to six. It also opened a website where people can make orders from the comfort of their homes.
What is Nuchas? Who Founded Nuchas?
Nuchas is a company that specializes in producing empanadas, a type of convenient snack.
The ingredients used in making these empanadas are carefully crafted by hand from reliable sources known for their high quality.
Despite being created in the United States, Nuchas empanadas draw inspiration from all over the world.
Customers can choose from three different flavors: beef, chicken, or sausage. Nuchas was founded in 2009 by Ariel Barbouth, who started out with a small kiosk in Times Square, New York City, with the help of his wife.
As the demand for empanadas grew, Nuchas expanded its operations to include food trucks and pushcarts.
Empanadas quickly became popular among consumers due to their convenience and portability. Nuchas has gained the attention of culinary critics, with several notable achievements to its name.
In 2013, Nuchas was the recipient of the People’s Choice Award, the Rookie of the Year Vendy, the People’s Taste Award, and the Best New York Food Truck in the New York vs. Boston competition.
Nuchas Shark Tank Pitch
An empanada is a pastry that can be filled with various ingredients and baked or fried.
Nuchas is a company that specializes in making empanadas with fillings such as beef, pig, chicken, and desserts, as well as vegetarian and vegan options. All their products are baked by hand using ingredients free of hormones and antibiotics.
At their retail outlets, the cost of an empanada ranges from $4 to $6 depending on the filling, and they are actively seeking wholesale customers to expand their reach.
The owner, Ariel, is looking to increase Nuchas’ retail base and eventually sell the product in supermarkets, and hopes to invest in expanding their wholesale production capacities.
During an episode of Shark Tank, Ariel sought a $2 million investment in exchange for 8% of his company. The Sharks were impressed with the taste of the empanadas but wanted to see the stats.
Ariel shared that his four retail sites in New York City had made $2 million in sales the previous year, while his wholesale company made $3 million in sales. He estimated a profit of $750,000 for the current year and $3 million the next year.
Daymond offered $2 million for a 25% stake in the company, while Barbara offered $1 million for the entire retail operation and a $1 million loan to build the wholesale operation.
She also proposed opening a retail franchise and buying all merchandise from the wholesaler. Ariel rejected Daymond’s offer and ultimately rejected Barbara’s offer, as he did not want to give up his retail company.
However, shortly after the intended air date of the Shark Tank episode, Nuchas began offering franchises with the wholesale part of the company supplying all franchisees.
They also began shipping directly to consumers across the United States and partnered with Yumble to offer empanadas for kids.
When the Covid-19 epidemic struck in 2020, Nuchas aimed to keep their employees safe and their business going while seeking new prospects.
As of June 2021, the company generates $4 million in revenue per year and continues to grow. They have contracts with 50 stadiums and are searching for more as they reopen.
In April 2021, Nuchas teamed up with Franklin Junction, a host kitchen company, to enable remote manufacturing for the wholesale side of their business.
Unlike ghost kitchens, host kitchens work with existing restaurants to generate additional income from their kitchens.
Nuchas Net Worth
Nuchas net worth is $25 million at the Shark Tank.
Nuchas Competitors
Their closest competitor is Fricano’s Pizza, which makes frozen pizzas.
Nuchas FAQS
Did Nuchas get a deal on Shark Tank?
Nuchas Gets Two Offers But Leaves Without a Deal.
Who owns Nuchas?
Ariel Barbouth is the owner of Nuchas.
What are Nuchas empanadas?
Nuchas specializes in American made but Argentinian inspired empanadas, deliciously baked and perfectly shaped hand held pies.
Offering flavours ranging from braised short rib to shrimp jambalaya to vegan shiitake curry, Nuchas’ grab-and-go gourmet meals have become a New York favourite.
How are Nuchas empanadas made?
Nuchas empanadas are baked fresh onsite.
No antibiotics or hormones are used in their ingredients.
Each pie is hand shaped by our team of pastry chefs at your request, then quickly fried in olive oil to keep the product ready to eat while also maintaining the integrity of the shape.
How is Nuchas different from other empanada brands?
They are different because we only use the best ingredients.
They use no preservatives, no additives, and our product is 100% natural.
No fake meats, fake dairy products, or fake oils are used in our empanadas.
When were Nuchas empanadas launched?
Nuchas was founded in 2011.
How many flavours of Nuchas empanadas are there?
They offer five flavours of empanada; Beef, Chicken, Pork, Veggie and Sweet Potato.
Which episode was Nuchas aired on Shark Tank?
Nuchas was aired on season 10 episode 18.
