What Happened to Three Jerks Jerky after the Shark Tank Pitch? Three Jerks Jerky Shark Tank Update
What is Three Jerks Jerky?
Three Jerks Jerky is a firm that specializes in superior jerky. What differentiates Three Jerks Beef Jerky from other beef jerky is that they use solely Filet Mignon, whereas the majority of other beef jerky uses the round cut (rump).
Because filet mignon, or tenderloin, is the most soft cut of meat, its jerky is very tender.
Barrocas began researching how to produce their own jerky after munching on some tough beef jerky one night.
Soon after, the two former Emory College roommates began manufacturing beef jerky in their flat using an old dehydrator Barrocas’ mother gave him.
Within a short period of time, they were sharing their beef jerky with friends and family who were clamouring for more.
As any good entrepreneur would, they saw their opportunity and began manufacturing their jerky in a commercial facility.
They obtained all USDA clearances and immediately began work.
They successfully collected over $45,000 through a Kickstarter effort in mid-2013 to build out their e-commerce site, construct marketing materials and packaging, and generate enough inventory to begin selling.
A two-ounce package of Three Jerks beef jerky costs between $12 and $15 — a tiny amount to pay for the Filet Mignon of Beef Jerky.
Who Founded Three Jerks Jerky?
Daniel Fogelson and Jordan Barrocas are the founders of Three Jerks Jerky.
What happen to Three Jerks Jerky at the Shark Tank Pitch?
Daniel and Jordan enter the contest wanting $100,000 for a 15% stake in Three Jerks Jerky.
This shows a valuation of $666,666.67. While handing out samples, they recount their narrative and explain why their jerky is unique. Sharks adore jerky.
Three Jerks Beef Jerky has grossed $350K in the last year at an average price of $11.99 each pack. That is more than double the price of typical “gas station beef jerky.”
Each pack costs them $3.20 to produce, and they are unwilling to reduce the price.
They’re losing money purchasing raw materials at minimum purchase prices, and they want the Sharks’ money to purchase in bulk.
One of the things that sets them apart from many other jerkies is that theirs is gluten-free; the majority of beef jerky contains gluten.
They believe that in order to expand, they must establish relationships with national chains.
The Sharks are interested in identifying the third jerk.
They apparently had a third partner who was a genuine jerk, whom they dumped.
Mr. Wonderful responds, “The third jerk was whacked!” Although everyone in the room is aware that jerky is competitive, Three Jerks is the only brand that uses Filet Mignon.
Kevin offers $100K in exchange for 33%. He does not believe his price is excessive, as he is well aware of his worth.
Mark claims to enjoy the jerky, but the business is too competitive, and he’s simply not invested in the trip; he’s out.
Robert offers $100,000 for a 20% share.
Daymond describes himself as a “jerkologist” and offers $100K in exchange for 20%.
Lori then offers $100K in exchange for 20%.
Four Sharks have accepted offers, three of which are identical. Kevin maintains his desire to join, but.” Kevin counters with a $125K offer for 33%. Kevin is asked by the Jerks to match Daymond, Lori, and Robert’s assessment.
Daymond then offers $100K in exchange for 17.5 percent, and the Jerks inquire as to whether he intends to remain active in the firm.
Robert inquires, “How much cash do you require?” They respond, “$200,000.”
Kevin offers $150K for 33% and Daymond offers $100K for 15% with the possibility to pay another $100K for 15%, but he needs a response immediately since he prefers decisive partners.
Following a commercial break, Robert says he’ll go in with Lori for the same deal as Daymond, but the Jerks respond, “Daymond, you have a deal.” “I enjoy being a jerk!” Daymond responds.
What Happened to Three Jerks Jerky after the Shark Tank Pitch?
Since doing the deal with Daymond, Daniel and Jordan have been knee deep in Filet Mignon.
They did $250K in sales the night they aired and $1.4 million since airing three months prior to the update. That’s over 150,000 bags of jerky.
Their growth has challenges: their co-packer can’t keep up with demand.
Daymond says too many sales is a good problem to have.
He introduces them to Rastelli Foods Group, a co-packer that can maintain quality and reduce cost. Now the sky is the limit for Three Jerks.
As of 2018, they were in over 3000 retail locations. They also send their jerky into space on SpaceX flights.
As of August, 2021, the company is still in business, but its founders have stepped away from the day to day operations and they both have jobs.
Barrocas is the Chief Executive Officer at Direct Global Partners.
Fogelson is in operations at Malibu mylk. Annual revenue is $4 million.
Three Jerks Jerky Net Worth
Daniel and Jordan enter the contest wanting $100,000 for a 15% stake in Three Jerks Jerky. This shows a valuation of $666,666.67. They accepted an offer of the same.
Three Jerks Jerky Competitors
Three Jerks’ primary competitors are The Jerky Club, and Chic’s Jerky.
Three Jerks Jerky Shark Tank Episode Summary
|Company/Product||Three Jerks Jerky|
|Shark Tank Episode||Shark Tank Season 7 Episode 5|
|Founder & Entrepreneur||Jordan Barrocas and Daniel Fogelson|
|Amount Asked For||$100,000 for a 15% stake in Three Jerks Jerky|
|Deal: Accepted Offer||$100,000 for 15% equity of the company.|
|The Shark Investor||Daymond John|
|Business Net Worth||Company valuation of $666,666.67|
|Business Status||The business is still in operations|
Three Jerks Jerky FAQS
Who made a financial investment in Three Jerks jerky?
When Barrocas appeared on the ABC series “Shark Tank,” in which participants pitch company ideas to investors.
Daymond John contributed $100,000 in exchange for a 15% share in Three Jerks Jerky and billing on the company’s name.
What brand of beef jerky was shown on Shark Tank?
Jerky Three Jerks Jordan Barrocas and Daniel Fogelson, co-founders of Three Jerks Jerky, appeared on “Shark Tank” in 2015, seeking $100,000 in finance for 15% of their firm.
Does beef jerky have pork?
Beef jerky is a dehydrated beef product. There are three types of jerky: pig jerky, chicken jerky, and turkey jerky.
How come filet mignon is better?
Filet Mignon is the best steak available and comes from the most valuable portion of the animal. Filet Mignon is tender and buttery, putting other cuts of meat to shame.
How much jerkiness is contained in each bag?
Each jerky package includes precisely two ounces of Filet Mignon Beef Jerky.
Due to the method they manufacture and dehydrate their product, it should be about similar to 5 ounces of raw Filet Mignon.
How long is the jealousy?
If left unopened, their jerky can keep for up to 12 months.
They recommend refrigerating after opening. It should keep for two weeks if properly kept. Each bag will also include a printed expiration date on the bottom.
Are there any artificial ingredients added?
Certainly not. None of their Filet Mignon Jerky varieties include nitrates, added MSG, or artificial preservatives.
Is the jerky gluten-free?
Nope, their whole line of Filet Mignon Jerky is gluten-free!
Is the jerky free of allergens?
They advise customers who are concerned about allergies to examine all ingredients before to purchase.
The following tastes have allergies that are often encountered. BUT, please, double-check all ingredients!
Authentic – Soy, Fish (Anchovies from Worcestershire Sauce)
N/A – Memphis Barbecue
Adobo Chipotle – Soy, Fish (Anchovies from Worcestershire Sauce)
Hamburger Burger Contains Soy and Fish (Anchovies from Worcestershire Sauce)
Churro de Bourbon de Maple – Soy
What is the purpose of the fish in the jerky?
They omit seafood from their jerky. They use Worcestershire Sauce into several of their tastes, and their preferred Worcestershire Sauce contains anchovies.
How long will it take for their order to be shipped?
Generally, purchases are shipped within 24-48 hours after being placed (excluding weekends). It may take longer during moments of increased demand.
How much do shipping fees include?
At the pricing listed below, they provide the following shipping methods:
Shipping at a low cost (4 – 10 Business Days) – $5 for Standard Shipping, (3 – 5 Business Days) – $10 for Express Shipping.
My jerky arrived in imperfect condition! What do they do?
They regret if an issue happened during the shipping process and their item arrived damaged.
If this sad situation occurs, please snap a photo and call them immediately.
Kindly send them an email with their name, order number, and a detailed description of the issue. They will gladly assist them.
Is it possible for them to include a gift note with their order?
Regrettably, they are unable to add gift notes at the moment.
How can they contact Three Jerks Jerky?
Phone: 856-803-1100 x 175.
What is the net worth of Daniel Fogelson?
What is the net worth of Jordan Barrocas?