Oilerie Shark Tank Pitch Net Worth
During his appearance on Shark Tank, Campbell was looking for investors to provide $500,000 to support his company’s growth. In return, he was willing to offer them a 35% ownership stake in his firm.
This implies that the net worth of his company was estimated to be approximately $1,428,571.42.
What is Oilerie and Who Founded Oilerie?
Oilerie is a specialty store that offers handcrafted olive oil for customers to taste and purchase. The olive oil is prepared in-store, ensuring maximum freshness, and is kept in large metal containers that hold around 4-5 gallons of oil each.
Customers can sample various flavors of olive oil in-store and have a bottle filled in front of them when they are ready to purchase. In addition to olive oil, the store has expanded to include balsamic vinegar, spices, Italian market items, and snacks.
Currently, there are eight Oilerie locations across the United States, as well as an online store. The company sources all of its EVOO from the province of Lazio, located about an hour south of Rome, Italy.
Oilerie was founded by Curt and Amy Jo Campbell in 2003 after they were inspired by the hand-crafted bottled olive oil they discovered in stores during a trip to Europe.
The couple started bottling their own handcrafted olive oil from their home in Wisconsin just six months later.
Today, Oilerie has grown to become the largest single-location retailer of extra virgin olive oil in the United States.
Oilerie Shark Tank Pitch?
In 2007, Oilerie began offering franchise opportunities and opened its first satellite location in Milwaukee in December 2008. By the time Curt appeared on Shark Tank in October 2014, seven franchised Oilerie locations were already in business.
During the pitch, Curt sought $500,000 in exchange for a 35% stake in his firm, indicating a value of $1,428,571.42. He targeted Mr. Wonderful, who collects olive oil, and impressed the Sharks by offering them samples of his handcrafted olive oil.
Curt revealed that he had generated $3.1 million in revenue through his franchise business the previous year and had seven franchisees paying him an 8% royalty. However, he also admitted that he had stopped working at the businesses due to the stress involved.
Lori Greiner was concerned about partnering with Curt after hearing about his admission and informed him that she was out if she believed he wasn’t ready for the stress. Barbara also expressed her doubts about Curt’s ability to handle the stress, and Robert left as he did not find the olive oil to be his interest.
Kevin and Mr. Wonderful also withdrew their offers, but Mark praised Curt for his resilience and hard work.
Although Curt left Shark Tank without a deal, he was determined to make his business successful. In the episode Beyond the Tank, he said that leaving the show without a contract was devastating, but he sought help from corporate trainers to train franchisees and expand his business.
Despite the Sharks’ refusal, Oilerie continued to grow and celebrate its 15th anniversary four years after Shark Tank. The company currently has nine locations in the United States and generates $5 million in annual revenue.
Additionally, they expanded their product offerings to include bread dipping oils, balsamic vinegars, nut oils, and health and beauty products containing olive leaf extract and olive oil.
Oilerie Net Worth
Campbell enters the Shark Tank seeking $500, 000 in exchange for a 35% stake in his firm. This indicates a $1,428,571.42 value.
There is no Competitors identified for Oilerie.
What is the Oilerie?
The Oilerie is an all-natural, handcrafted brand of extra virgin olive oil, balsamic vinegar, and select specialty products from around the world.
What makes Oilerie products so special?
The Oilerie sources all of its EVOO from province of Lazio, about an hour to a little village south of Rome, Italy. It is all natural, 100% pure and fresh as the day it was pressed.”
How many Oilerie franchises are there?
The Oilerie is now the largest hand bottler of extra virgin olive oil and aged balsamic vinegar in the United States, with six franchisees.
Is Oilerie olive oil?
Garlic Extra Virgin Olive Oil from Oilerie. Without a doubt, the best-selling olive oil in their store.
This Italian garlic extra virgin olive oil is excellent for bread dipping, spaghetti, drizzling over freshly grilled steaks, and a drop behind each ear before going out dancing.
Who founded Oilerie?
Curt Campbell, who was the founder of Oilerie, Curt started Oilerie back in 2003.
What makes Oilerie stand out from the competition?
They are an all-natural, handcrafted brand of extra virgin olive oil, balsamic vinegar, select specialty products from around the world.
What do they need to open my Oilerie?
They will need a small business license as well as a product that is 100% natural, held to the highest quality standards such as theirs.
Is Oilerie easy to operate?
Absolutely. Their franchisees run their own retail operation, but they also have templates and resources available for them.
How do get started?
Curt and Amy Jo Campbell came up with the idea for an olive oil business on a 2003 trip to Europe. They were astounded by the hand-crafted bottled olive oil they discovered in stores around Poland. Six months later, the Campbell’s were bottling their own handcrafted olive oil from a modest home in Wisconsin.
How long has Curt worked in the olive oil business?
Curt worked in the olive oil business for ten years, managing two Olive Oil stores prior to starting Oilerie with Amy Jo.
Does profits margins for Oilerie vary between franchises?
No, the margins are kept equal to help maintain an even playing field for the franchises.
How much does it cost to start an Oilerie franchise?
Between $141,486 and $223,947 is the projected investment necessary to launch an Oilerie USA franchise.
There is an initial franchise fee of between $30,000 and $37,500 that covers the cost of obtaining the right to operate a company under the Oilerie USA brand.
Where is Oilerie located?
The Oilerie, as seen on ABC’s Shark Tank, has a shop located in Southeast Green Bay where only the finest ingredients produced in their production facility just south of Rome, Italy make it to the store shelves.
What is the revenue of the Oilerie?
As of November 2021, the firm is still profitable, generating $5 million in yearly revenue.
What is the net worth of Curt Campbell?
What is the net worth of Amy Jo Campbell?