Pan’s Mushroom Jerky Shark Tank Net Worth 2023

Michael’s original offer of $300,000 for a 10% stake in his company suggested a $3 million valuation but he accepted an offer from Mark of $300,000 for 18%. This reduces the valuation to $1,666,666.67.

Despite this lower figure, Michael’s firm is doing incredibly well and is reportedly making annual sales of $5 million. This suggests that Michael made a great decision by taking Mark’s offer as it shows considerable growth and stability within his business.

What is Pan’s Mushroom Jerky?

Pan’s Mushroom Jerky is a plant-based snack made with shiitake mushrooms, based on a family recipe from entrepreneur Michael Pan. It is vegan, high in fiber and vitamin D, paleo, kosher, soy-free, and gluten-free, as well as delicious.

Despite his background in electrical engineering, Michael Pan drew inspiration from his family’s recipe and worked from his Washington home to create a new edition of a popular snack. Today, Pan’s Mushroom Jerky is sold at over 700 locations across the country, and Michael leads a thriving and still-growing business.

During a visit to Malaysia, Michael became familiar with Buddhist customs, including vegetarianism. His family had long known that the mushrooms growing nearby could be a tasty and nutritious substitute for meat. Recognizing the value of his family’s recipe for health-conscious snackers, Michael brought Pan’s Mushroom Jerky to store shelves, and we can all be grateful he did.

What happen to Pan’s Mushroom Jerky at the Shark Tank Pitch?

In 2018, Michael took a leap and founded his vegan, high-fiber, and vitamin D-rich firm that is paleo-friendly, kosher, soy-free, gluten-free, and completely organic.

Furthermore, the products do not contain any preservatives. Pan’s Mushroom Jerky is available in several flavors, including Original, Zesty Thai, Applewood BBQ, and Salt & Pepper.

To help grow his business in the vegetable jerky industry, Michael offers $300,000 for a 10% stake in his company, valuing it at $3 million. He tells his story and distributes samples in search of a Shark who can help him achieve market dominance.

Michael’s sales are split 60/40 between retail and online, and the retail price of his plant-based jerky is between $7.99 and $8.99. However, it only costs him $1.67 to produce each bag.

In 2018, the company generated $300,000 in sales, and in 2019, revenue increased to $755,000. By 2020, the company had already earned $620,000 in year-to-date revenue. The Sharks are impressed with the company’s financials, with 77% margins and 10% profit margins.

Lori Greiner and Blake Mycoskie make a joint offer of $300,000 in exchange for a 30% stake, which would give each of them a 15% ownership in Pan’s Mushroom Jerky. Michael is hesitant to cede so much control, but they assure him that their connections with big-box retailers like Starbucks will significantly increase his sales.

Mark Cuban, a vegetarian, also supports Michael’s idea and offers $300,000 for a 20% stake in the company. Michael negotiates with Mark and agrees to give him an 18% stake.

Ultimately, Michael and Mark are pleased with their collaboration agreement, which they believe will help Pan’s Mushroom Jerky grow even further.

Pan’s Mushroom Jerky after the Shark Tank

The company seems to be functioning normally, despite being out of stock on both their website and Amazon. They have completed their agreement with Mark.

Pan’s seems to have faced considerable shipping issues after their appearance on Shark Tank, which is why they sold out during the first rerun.

To meet the demand, they have increased their working hours and personnel. The startup aims to achieve $3 million in annual sales by June 2021.

Pan’s Mushroom Jerky Net Worth

Michael offers $300,000 for 10% of his firm, suggesting a $3 million valuation but he accepted an offer from Mark of $300,000 for 18% thus brings the valuation to be $1,666,666.67.

Pan’s Mushroom Jerky Competitors

The main competitor of Pan’s Mushroom Jerky is YumEarth.

YumEarth offers a wide range of healthy and natural products including gummy bears, fruit snacks, and sour belts.

Pan’s Mushroom Jerky FAQS

What happened to Pan’s Mushroom Jerky?

Pan’s Mushroom Jerky is still in operation and has grown exponentially since its appearance on Shark Tank.

Within a week of their appearance on Shark Tank, the firm sold out of its scrumptious vegan mushroom jerky snack.

Where can they purchase Pan’s Mushroom Jerky?

G&R Specialty sells and ships this item from Amazon Fulfilment. FREE Shipping within on orders over $25.00.

Pan’s Mushroom Jerky is owned by who?

Michael Pan is the founder of Pan’s, a vegan mushroom jerky firm.

Where is Pans Mushroom Jerky made?

Pan’s Mushroom Jerky officially released in four delectable varieties in 2018, all inspired by their family’s original recipe and their desire for a fulfilling plant-based snack.

Today, Pan’s Mushroom Jerky is manufactured in Portland, Oregon and is sold in over 1,000 retail locations throughout the United States.

Is Pan Mushroom Jerky vegan?

Pan’s Mushroom Jerky is made using a 30-year-old family recipe from Malaysia.

Pan’s Mushroom Jerky is vegan, gluten-free, cholesterol-free, and paleo-friendly, as well as a good source of vitamin D.

What is the sugar content of Pan’s Mushroom Jerky?

They are made entirely of mushrooms, canola oil, and maltodextrin (and contain less than 2 grams of sugar per serving).

How long does Mushroom Jerky keep?

They should be chewy. At the hour mark, flip slices. Allow for complete cooling before transferring the slices to an airtight container.

The jerky can keep for up to a week in the refrigerator.

Is Pan’s Mushroom Jerky available for purchase in Canada?

This item is only available for delivery to Toronto.

Is it necessary to refrigerate Mushroom Jerky?

Pan’s Mushroom Jerky has a six-month unopened shelf life.

On the back of the bag, there is a freshness date for reference.

They recommend resealing and refrigerating after opening to maintain maximum freshness, and enjoying within a couple weeks.

Is Pan’s Mushroom Jerky no longer available?

Pan’s Mushroom Jerky is still in operation and has grown exponentially since its appearance on Shark Tank.

What ingredients are used in Pan’s Mushroom Jerky?

Organic dried shiitake mushrooms, water, avocado oil, organic coconut sugar, Himalayan pink salt, and organic chia seeds are used in this recipe.

Consult our store locator to determine whether a retailer near their offers Pan’s.

In shark tank, who is Blake?

Blake Mycoskie is a serial entrepreneur, philanthropist, and bestselling author best known for establishing TOMS Shoes.

He is also the creator of One for One, a business model that donates a pair of shoes to a person in need for every product purchased.

How much salt is in Original Mushroom Jerky?

Sodium content of Mushroom Jerky, Original is 190mg.

How much potassium is in Original Mushroom Jerky?

Potassium content of Mushroom Jerky, Original: Potassium is 160mg.

What is the net worth of Michael Pan?

Unknown.

When Pan’s mushroom jerky aired on Shark Tank?

It was on 20, November 2020 season 12 episode 6.