What Happened to Pork Barrel BBQ after the Shark Tank Pitch? Pork Barrel BBQ Shark Tank Update
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What is Pork Barrel BBQ?
Pork Barrel BBQ is a firm founded by two former United States Senate employees that produces a variety of rubs, spices, and sauces for use in both amateur and professional barbecue scenarios.
They also provide jerky-style snacks and breadcrumb substitutes for clients searching for low-carb snack choices.
Who are the Founder of Pork Barrel BBQ?
Pork Barrel BBQ was founded by Heath Hall and Brett Thompson. Before launching the firm, they both worked for members of the United States Senate, Heath as a policy analyst and Brett as a legislative director.
Heath is still working for the firm as the Director of Government Affairs for Heartland Dental. Brett is still involved with the firm, but he is also a Board Member at Jos. A. Magnus & Co. and a Partner at Banner Public Affairs.
The concept for Pork Barrel BBQ arose one night during a Senate meeting. Two workers were discussing meal possibilities in Washington D.C. when they noticed the neighbourhood lacked a recognized BBQ restaurant.
For a few years, the topic went dormant, but it was finally reignited.
What Happened to Pork Barrel BBQ at the Shark Tank Pitch?
Thompson and Hall appeared on Shark Tank Season 1 Episode 6 in search of $50,000 in exchange for a 10% stake in their Pork Barrel Barbecue firm. This equates to a $500,000 valuation.
The Sharks are amused by their polished presentation and political humour. They pique the Sharks’ interest when Thompson says, “Heath and I enjoy two things: producing terrific barbeque and generating a lot of money.”
He goes on to show how the team leveraged their product from conception through branding, marketing, and sales of their barbecue and spice rubs.
Brett Thomson approaches the Sharks with a tray of their products, so the Sharks may sample them and decide whether they like them.
Kevin O’Leary likes the flavour of the product but isn’t sure if it’s well-known.
The partners proudly display the prizes they just won in national tournaments.
Robert Herjavec believes the partners are “joking” about the company’s half-million dollar valuation. He wonders if their assessment is correct.
Thompson returns with the news that a 10,000-unit order is currently in production and will be delivered within the next month.
Herjavec, unexpectedly, goes for the kill, demanding the selling price.
Thompson deconstructs the sales, demonstrating that the goods cost roughly $2 to create and make a 50% profit.
He believes that “based on extremely conservative predictions,” the firm would make more than $4 million in sales and make more than $1 million in profit within a year.
Robert Herjavec admits to having previously purchased a barbecue sauce. Herjavec, who was once burnt by a shady investment, is now twice as timid and unimpressed.
He feels that Pork Barrel Barbecue lacks the brand awareness required to establish the distribution channels required to expand into a national seller. He’s gone.
Kevin Harrington says he does not want to take the chance and has withdrawn as well.
Daymond John claims that the market for barbecue sauces is congested, which is why he does not want to invest in Pork Barrel BBQ. Daymond John has stated that he is leaving.
Kevin O’Leary says he would have invested if both of them were working full-time on Pork Barrel BBQ rubs and sauces, but they aren’t, therefore Kevin O’Leary is out as well.
Barbara Corcoran compares Heath to the team’s mascot. She doesn’t think the figures make sense.
She doesn’t think $50,000 is enough to get their project off the ground. Thompson reveals that they are putting $100,000 of their own money into the venture.
Corcoran makes a proposal. She is willing to pay them $50,000 in exchange for 50% ownership of the firm.
The proprietors of Pork Barrel Barbecue offer 40%, but Corcoran refuses. The deal is accepted by the couple.
What Happened to Pork Barrel BBQ after the Shark Tank Pitch?
It was Barbara’s first Shark Tank investment. After collaborating with Barbara, the duo developed three new sauces and a new product, bacon jerky.
They’d made $3,000 in sales in the six months leading up to their Shark Tank debut.
Sales have risen to $15 million in the seven years after its debut.
Pork Barrel BBQ has expanded into major retail establishments, including delivery to soldiers by the United States Army.
Pork Barrel Barbecue appears in update parts in episodes 111 and 305. In the season 3 update, the boys announce the opening of their restaurant, and Barbara appeared dressed as a pig.
A further update arrives in Season 6 episode 624. They have made $10 million in sales since the last report.
They’re in 5000 stores right now, with another 3000 on the way. Sam’s Club has the goods on the shelf, which signifies that $2 million in orders have been placed.
Pork Barrel BBQ has turned the Shark Tank phenomenon into BIG BUCKS!
The company is still running strong in December 2021, with an annual sales of $4 million.
What is Net Worth of Pork Barrel BBQ?
Thompson and Hall appeared on Shark Tank in search of $50,000 in exchange for a 10% stake in their Pork Barrel Barbecue firm. This equates to a $500,000 valuation.
They accepted an offer from Barbara of $50,000 for 50% stake which brings valuation to be $100,000.
Current valuation is evidently higher since the Company has grown.
Who are the Competitors of Pork Barrel BBQ?
Pork Barrel BBQ Restaurant’s main competitors include Queen City Q, Gates Bar-B-Q, Buckaroo’s Grille, Hog Hill BBQ LLC, and Boone’s Bar-B-Que Kitchen.
Pork Barrel BBQ FAQS
What is Pork Barrel BBQ?
Pork Barrel BBQ is a firm founded by two former United States Senate employees that produces a variety of rubs, spices, and sauces for use in both amateur and professional barbecue scenarios.
Who founded Pork Barrel BBQ?
Pork Barrel BBQ was founded by Heath Hall and Brett Thompson, who both worked for the United States Senate.
How much were they seeking in the Shark Tank?
In 2009, the founders of Pork Barrel BBQ sought $50,000 in exchange for a 10% stake in the firm.
How much did they get in the Shark Tank?
They negotiated an offer with Barbara Corcoran where she agreed to pay them $50,000 in exchange for 50% ownership of the firm. This equates to a $100,000 valuation.
Is Pork Barrel BBQ still in business?
Pork Barrel BBQ is still in business as of December 2021, with an annual sales of $4 million.
How can they contact Pork Barrel BBQ?
They can get in touch with the team via their email address: [email protected]
Is Pork Barrel BBQ rub gluten free?
The Pork Barrel BBQ All-American Spice Rub is an all-purpose rub that they use at their restaurant, at competitions, and in their backyards.
This Gluten Free rub offers a Smokey and delicious taste profile inspired by classic barbecue seasonings and includes no preservatives or MSG.
When was Pork Barrel BBQ on Shark Tank?
Pork Barrel BBQ made its national broadcast debut on Mark Burnett’s famous ABC television show Shark Tank on September 13, 2009.
When was Pork Barrel BBQ founded?
Pork Barrel BBQ was founded in 2009.
What methods of payment do they accepts?
Pork Barrel BBQ accepts payments through Amex, Amazon pay, MasterCard, Venmo, Visa, Apple Pay, PayPal and Diners Club.
Where is Pork Barrel BBQ based?
Pork Barrel BBQ operates from its headquarters in Alexandria, Virginia (Del Ray).
Where can the public find out more about Pork Barrel Barbecue?
They can visit their official website at www.porkbarrelbbq.com
Who is the CEO of Pork Barrel BBQ?
The CEO of the firm is Brett Thompson.
What products does Pork Barrel BBQ make?
Pork Barrel BBQ manufactures a wide variety of rubs, spices, and sauces for use in both amateur and professional barbecue scenarios. They also make bacon jerky treats.
What is the net worth of Heath Hall?
Heath Hall’s net Worth is unavailable.
What is the net worth of Brett Thompson?
Brett Thompson’s net worth is unavailable.
