Southern Culture Foods Shark Tank Net Worth 2023
Erica recently entered the Shark Tank in a bid to gain $100,000 in exchange for a 25% stake in her firm. This would value it at $400,000. Despite this large valuation, Barbara offered $100,000 for a 38% stake instead which valued the company at a much lower 263,157.89.
Unfortunately Erica’s business was closed by March 2022 and she was unable to reap the benefits of her offer from the sharks.
What is Southern Culture Foods?
Southern Culture Foods is a company that specializes in creating delicious pancake and waffle mixes with organic ingredients. They offer a variety of flavors, including Vanilla, Bourbon Salted Pecan, and Banana Pudding.
Erica, who has always had a passion for cooking, discovered her love for cuisine at a young age and even won a culinary competition on The Food Network. However, she was dissatisfied with the pancake options available at her local store and decided to experiment with different flavors.
After receiving positive feedback from friends and family, Erica founded Southern Culture Foods in April 2012. Her company gained traction after attending a local sample event and America’s Mart, a culinary trade exhibition in Atlanta, where she received orders totaling over $80,000.
Erica continued to work her day job while making her pancake mixes at night in a commercial kitchen. However, in January 2013, she became a full-time entrepreneur.
Today, Southern Culture Foods offers twelve different varieties of “Short Stack” pancake and waffle mix, as well as syrups, BACON rub, and gift boxes. These products are now available in over 100 gourmet food stores nationwide and can also be purchased on Amazon.
Southern Culture Foods Shark Tank Pitch
During her appearance on Shark Tank, Erica presented her company, Southern Culture Foods, to the investors. Erica recently entered the Shark Tank in a bid to gain $100,000 in exchange for a 25% stake in her firm. This would value it at $400,000. Barbara, one of the investors, offered Erica $100,000 in exchange for a 38% stake in the company.
This meant that the new valuation of Southern Culture Foods would be $263,157.89, which was lower than Erica’s initial valuation. Despite the concerns of some of the other Sharks about the company’s ability to secure permanent listings with large stores, Erica accepted Barbara’s offer.
Erica explained that she needed the funds to fulfill an order from QVC, which had placed an order for 50-75,000 units of her pancake mixes. Barbara expressed concerns about QVC’s low profitability and suggested that getting into large box stores was the best way to make money in the food industry.
After some negotiation, Erica and Barbara settled on a deal in which Barbara would own 38% of Southern Culture Foods in exchange for her $100,000 investment. Erica walked away from the show with a deal that helped her expand her business.
Since her appearance on Shark Tank, Erica has expanded her product line and her products are now available in over 3,000 locations across the country. In 2018, she appeared on CNBC’s The Profit and received an investment of $75,000 from Marcus Lemonis in exchange for a stock stake. As of August 2021, Erica’s business earns $5 million in yearly sales.
Southern Culture Foods Net Worth
Erica enters Shark Tank in search of a $100,000 investment in exchange for a 25% stake in the firm. This represents a $400,000 valuation.
She accepted an offer from Barbara of $100,000 for 38% stake thus valuing it at 263,157.89.
Southern Culture Foods Competitors
There is no competitor identified for Southern Culture Foods.
Southern Culture Foods FAQS
What is Southern Culture Foods?
Southern Culture Foods is a line of gourmet pancakes and waffles.
Who is the founder of Southern Culture Foods?
How much was she asking in the Shark Tank?
Southern Culture Foods was asking $100,000 for 25% ownership.
How much did she get from Shark Tank?
She accepted a deal from Barbara Corcoran of $100,000 for 38% ownership.
When was Southern Culture Artisan Foods founded?
It was founded in 2011
Where is Southern Culture Artisan Foods’s headquarters?
Its headquarters is in Decatur Georgia, USA.
Can they use regular milk instead of buttermilk?
Absolutely. For 6 pancakes, 1/2 cup milk is required, and for 12 pancakes, 1 cup milk is required.
Do they have a vegan recipe for their mix?
Except for Banana Pudding, Chocolate Chip Cookie Dough, and Peanut Butter Chocolate Chip, none of their mixes include dairy.
They can use almond milk or soy milk instead of buttermilk, using 1/2 cup for 6 pancakes and 1 cup for 12 pancakes.
They might also use an egg substitute and vegetable oil. Vegan instructions are included with their vegan-friendly mixtures.
Can they make waffles with their mix?
Yes, they can create four waffles from a single container of their mix. Simply spoon the batter into a waffle machine, set to their preferred setting(s), and they will have a lovely golden waffle.
Do they have syrups or recommend a syrup?
Yes, they bottle their own 100% pure maple syrup, which is excellent. They sell Grade a Dark Amber Maple Syrup in bottles.
Why does their product say all natural if they use organic ingredients?
They would need to get USDA organic certification in order to designate their products as organic. They have opted to achieve a non-GMO certification, which ensures that their product contains no genetically modified organisms, only pure goodness.
What is the shelf life of their products?
Their goods typically have a shelf life of 12 months.
How long do they take to ship?
Normally, they ship within 48 hours; but, during busy seasons, it may take longer.
Due to the number of orders received following their appearance on ABC’s “Shark Tank,” they predict that it will take more than 7 days to ship their orders.
They are working as swiftly as possible to send as soon as feasible.
May they cancel their order? What about refunds?
Once placed, all orders are final and non-refundable.
How did Southern Culture Foods started?
Erica Barrett is the Founder and CEO of Southern Culture Artisan Foods, a breakfast lifestyle brand she founded after noticing a lack of quality breakfast products on the shelf at her local grocery store.
What is the net worth of Erica Barrett?
Do they have a website?
Yes, their website is www.southernculturefoods.com.
Shortstacks Pancake Mix Shark Tank Update