What Happened to Simply Good Jars after Shark Tank? Simply Good Jars Shark Tank Update
What is Simply Good Jars?
Simply Good Jars is a company that provides ready-to-eat, chef-prepared meals in jars, with a focus on using high-quality ingredients and minimal packaging.
The company’s offerings include options such as SouthWestern Cobb, Smoked Salmon, Simply Greek, and Heavenly Pesto.
The company also prioritizes ethical and sustainable practices that benefit both the business and the community.
The company was founded by Chef Jared Cannon, who has an associate’s degree in culinary arts from The Culinary Institute of America, a bachelor’s degree in business administration from Florida International University, and a master’s degree in business administration from Temple University’s Fox School of Business and Management.
Prior to starting Simply Good Jars, he held several high-level positions in the food industry, including Corporate Executive Chef.
Who is the founder of Simply Good Jars?
Jared Cannon, a renowned chef from Philadelphia, founded Simply Good Jars after becoming frustrated with the lack of nutritious fast food options.
He began selling the jars, which are made from recycled plastic and can be returned for cleaning and reuse, in 2017 in the Philadelphia area.
For each jar returned, a meal is donated to a local charity. The jars contain 9.2 ounces of varying weekly menus, such as salads and quinoa dishes, and retail for $9.49.
The company currently only operates in the Philadelphia region, but plans to expand in the future.
They are also working with Go Puff which has over 500 delivery hubs worldwide for delivery inside the Philadelphia metropolitan region.
What Happened to Simply Good Jars at Shark Tank pitch?
In episode 1217 of Shark Tank, Jared Cannon presents his business, Simply Good Jars, which are nutritious meals packaged in recyclable jars.
He is seeking $500,000 in exchange for a 7% stake in the company, which is valued at $7.1 million.
He distributes samples of his salads, which cost between $2.50 and $3.60 to prepare but retail for between $8.99 and $10.99.
He made $300,000 in sales in 2019, and plans to earn between $700,000 and $750,000 in 2020.
The company anticipates profitability in 2021. He has raised $2.5 million to date and currently controls 51% of the firm.
Due to the Covid-19 pandemic, he had to shift his sales strategy, expanding into convenience stores and offering delivery through Grub Hub.
Kevin offers $500,000 in exchange for 9.5% interest and 7% equity shares, but Jared ultimately accepts Mark’s offer of $500,000 for 10% equity shares with Lori in the deal.
What Happened to Simply Good Jars after Shark Tank?
Mark and Lori’s agreement was not completed, but the company experienced a significant increase in sales and inquiries following the initial airing.
They have since built another factory in Philadelphia and plan to expand their distribution to 28 states in 2022 through future agreements.
As of February 2022, the company is still operating with a yearly income of $4 million.
Net Worth of Simply Good Jars
The company’s value was estimated at $7.1 million during the pitch, but since the company is still in operation, its current net worth may be higher.
Simply Good Jars FAQs
What is Simply Good Jars?
Simply Good Jars is a fast-casual restaurant in Philadelphia, Pennsylvania. They specialize in chef-prepared, ready-to-eat meals that are delivered to customers in reusable jars rather than plastic or paper containers.
Who is the founder?
Chef Jared Cannon of Philadelphia founded Simply Good Jars. He was a renowned chef in Philadelphia for 18 years, but while pursuing an MBA and working full time, he frequently ate cuisine that was “quick, easily accessible, and frequently unhealthy.
How much was seeking on Shark Tank?
Jared was seeking for $500,000 for 7% stake of the business, valued at $7.1 million.
Who invested on Simply Good Jars?
Mark and Lori invested in this company by giving $500,000 for 10% equity shares of the company.
Is Simply Good Jars still in business?
Jared and his partner sold 2,000 jars a week before Shark Tank aired. As of February 2022 the company is still in business with annual revenues of $4 million.
How much is Simply Good Jars cost?
Each jar retails for $9.49 throughout the Philadelphia region (at time of publishing). They are now limited to the Philadelphia region, but Conrad intends to expand.
Where is the headquarter of Simply Good Jars?
The headquarter of Simply Good Jars is in Philadelphia.
How long do Simply Good Jars keep their freshness?
Each jar has less than 600 calories and keeps for up to five days in the refrigerator. Additionally, they provide a catering service – ideal for eating fresh during in-office meetings.
What is the procedure for returning Simply Good Jars?
Simply Scan the QR code on the jar and vow to keep it out of the garbage; they’ll make a donation to a local food charity to assist someone in need.
Simply Good Jars is what sort of business?
Produces food jars with the intention of distributing food goods to local populations via vending machines.
Is Simply Good Jars shipping?
Yes, Simply Good Jars is shipping worldwide and there is no extra charge for shipping. Enjoying a delicious meal delivered to you at the office can be done in minutes.
What is Simply Good Jars information?
Simply Good Jars provides ready-to-eat, chef prepared meals that are sold in food jars. They are now limited to the Philadelphia area but plan to expand beyond that region soon.
Is Simply Good Jars safe for food?
Yes, Simply Good Jars are safe for food. They are made of recyclable and toxin free materials, which can be put into the microwave or dishwasher without any problems. The meals include ingredients like brown rice, chicken, broccoli and carrots.
What is the net worth of Jared Cannon?
Jared Cannon founded Simply Good Jars and his net worth is not available.
