Reely Hooked Fish Shark Tank Net Worth 2023
Steven and James were entrepreneurs who sought an investment of $75,000 in exchange for a 25% ownership stake in their business, Reely Hooked Fish, when they appeared on the television show Shark Tank.
By offering this deal, they valued their company at $300,000.
What was Reely Hooked Fish? Who were the Founders of Reely Hooked Fish?
Reely Hooked Fish was a small enterprise located in Pembroke Pines, Florida that specialized in producing a wholesome smoked fish dip. They combined their seafood with natural ingredients obtained from local farmers’ markets.
The dip highlights the taste of the fish and avoids using excessive fillers. It is made using a proprietary formula that is both unique and authentic in flavor.
After being caught, the fish is stored on ice and transported to their plant where it is professionally filleted and cleaned. It is then immersed in their exclusive brine before being smoked for an extended period with locally-sourced woods.
Reely Hooked dips are made with Greek yogurt, which has fewer calories and more protein than traditional mayonnaise-based products. The result is a smoky, sweet, and nutritious dip that has gained a following of dedicated fans.
Steven Markley and James Arcaro are the two entrepreneurs responsible for this delicious dip. Both co-workers share a passion for fishing and enjoy eating their catch.
They use traditional family techniques to prepare their freshly caught seafood, and their smoked fish dip has become a favorite among their friends and family.
Reely Hooked Seafood Company’s signature dip is made with amberjack and kingfish (also known as king mackerel), caught by the duo on their own boat in the waters near Fort Lauderdale.
Reely Hooked Fish Shark Tank Pitch
Steven and James made an appearance on episode 11 of Shark Tank season 9 with the intention of obtaining $75,000 for a 25% ownership of their company. This would value their company at $300,000.
During their presentation, they shared their story and provided samples of their product to the Sharks. There was some discussion and negotiation about the ingredients before they got down to business.
After three months of sales, their product had only generated approximately $10,000 in revenue. They had managed to sell their product through three craft breweries and one small shop.
The cost to manufacture each container of their product was $4.50, and the cost to sell it was $12. They believed that they could reduce their manufacturing costs by purchasing fish in larger quantities.
Their goal was to invest in their company in order to improve their facility and run the business full-time.
One of the Sharks, Daymond, felt that their product needed to be sold in more than just three breweries. Lori complimented their dip but felt that it would be difficult to scale and decided not to invest.
Robert was uninterested in their low sales and left the deal quickly. Kevin O’Leary felt that their company’s valuation was too high and decided not to invest as well.
Mark asked if they could generate $1000 in sales each week, and they responded positively. Mark offered them exactly what they were asking for – $75,000 for 25% ownership, and they accepted.
After their appearance on Shark Tank, their product, Reely Hooked Fish Co., was branded as “A Mark Cuban Company” and was introduced to various establishments in Florida, such as Luekens Wine & Spirits, Badfins Food + Brew, Da Kine Poke, and Sweetest Knights Key West, among others.
Shipping was a challenge due to the fresh fish in their product, so they were only able to collect email addresses until they could resolve the shipping issue. Their Facebook page has not been updated since July of the previous year, and their website is no longer available.
According to Steven Markley’s LinkedIn page, he founded a pool service company called Pools Next Door in July of 2019, but it appears to have closed in June of 2021.
What is the Net Worth of Reely Hooked Fish?
Steven and James appeared on Shark Tank in search of $75,000 for a 25% stake in their company. This equates to a $300,000 valuation.
Who were the Competitors of Reely Hooked Fish?
There are no competitors identified for Reely Hooked Fish.
Reely Hooked Fish FAQS
What is Reely Hooked Fish?
Reely Hooked Fish is a small business in Pembroke Pines, Florida that produces a nutritious, smoked fish dip made with fresh fish.
Who are the Founders of Reely Hooked Fish?
Steven Markley and James Arcaro are the two funders behind this tasty concept.
How much was they seeking in the Shark Tank?
The pair was seeking $75,000 for a 25% stake in their business, which would have valued it at $300,000.
Did they get the deal from the Sharks?
Mark Cuban offered $75,000 for 25% – exactly what they asked for – and they accepted.
What is the Website for Reely Hooked Fish?
The website is no longer active or accessible.
Is Reely Hooked Fish available on Social Media?
Their Social Media has not been updated since July 2019.
Can they buy Reely hooked fish dip?
They are no longer in business.
Is the Reely Hooked Fish firm still in operation?
Reely Hooked Fish is no longer in operation.
Where is Reely Hooked fish dip located?
Reely Hooked Fish Co. was a tiny company situated in Pembroke Pines, Florida that produces a nutritious smoked fish dip.
When was Reely Hooked Fish featured on Shark Tank?
Reely Hooked Fish appeared on Shark Tank season 9 episode 11 on November 12th, 2017.
What kind of fish were they using?
They were using king mackerel, as it smokes well due to its high oil content.
How can they contact Reely Hooked Fish?
Reely Hooked Fish is no longer in operation.
What is the net worth of James Arcaro?
James Arcaro’s net worth is unavailable
What is the net worth of Steven Markley?
Steven Markley’s net worth is unavailable.
When was Reely Hooked Fish founded?
Reely Hooked Fish was founded in 2016.
What were Reely Hooked Fish made with?
Reely Hooked Fish was a smoked fish dip made with Greek Yogurt with apple for extra flavour.
How many calories were there in Reely Hooked Fish?
Reely Hooked Fish had 245 calories in the whole container with 32 grams of protein.
How much were they selling?
Each container was $4.50 to make and retail for $12.
Were Reely Hooked Fish privately or publicly owned Company?
Reely Hooked Fish was privately owned.
