Shark Tank Cousins Maine Lobster Episode
Shark Tank is a television show that provides individuals the opportunity to present their business ideas to a panel of high-profile investors, otherwise known as "Sharks." One of the most successful pitches on the show was by cousins Jim Tselikis and Sabin Lomac who presented their seafood business, Cousins Maine Lobster. In this article, we'll take a closer look at the Cousins Maine Lobster episode and learn more about the history, products, and success of this thriving business.
The History of Cousins Maine Lobster
Cousins Jim Tselikis and Sabin Lomac, both from Maine, had always dreamed of bringing the taste of their hometown to the rest of the country. They decided to start their business in 2012 with a food truck that sold authentic Maine lobster rolls in the Los Angeles area. The company soon became popular, attracting long lines of customers eager to taste the fresh, delicious lobster meat.
As the business grew, Jim and Sabin decided to expand their offerings by introducing new products such as lobster bisque, lobster mac and cheese, and lobster tacos. With the success of their food truck, Jim and Sabin decided to open a brick-and-mortar location in Los Angeles, and eventually franchised the business, opening locations across the United States.
The Cousins Maine Lobster Pitch on Shark Tank
Jim and Sabin appeared on season 4 of Shark Tank, seeking a $55,000 investment for 5% equity in their business. They presented their lobster products to the Sharks and explained their vision for the future of the company. The Sharks were impressed with their passion and the quality of their products, and the cousins eventually struck a deal with Sharks Barbara Corcoran and Mark Cuban, accepting $55,000 for a 15% equity share in the business.
The partnership with Barbara and Mark proved to be beneficial for Cousins Maine Lobster. Their investment not only provided the necessary funds to help the business grow, but their experience and connections helped Cousins Maine Lobster expand its presence across the country. The exposure from the show also helped the business gain even more popularity and recognition, leading to further growth and success.
Cousins Maine Lobster Products
The core product of Cousins Maine Lobster is their traditional Maine lobster roll. The lobster meat they use is freshly caught in Maine and transported to their locations daily. They also offer a variety of other lobster-based dishes, such as lobster tacos, lobster bisque, and lobster mac and cheese. In addition to their lobster products, Cousins Maine Lobster also offers non-lobster menu items such as clam chowder and shrimp tacos.
The Success of Cousins Maine Lobster
Since appearing on Shark Tank, Cousins Maine Lobster has experienced significant growth and success. The company now has over 20 franchises across the country and has expanded its menu to include a wider variety of lobster-based dishes. In addition to their brick-and-mortar locations, Cousins Maine Lobster still operates its original food truck and participates in food festivals and events across the country.
The company has also continued to receive recognition for its quality products and service. Cousins Maine Lobster has been featured on numerous television shows, such as The Today Show, Good Morning America, and The Chew. In 2018, the company was even selected as one of Oprah's Favorite Things.
Conclusion
The success of Cousins Maine Lobster is a testament to the power of a great pitch and a quality product. Jim Tselikis and Sabin Lomac's passion for bringing the taste of Maine to the rest of the country, combined with their dedication to providing high-quality lobster products, has led to the growth and success of their business. Their appearance on Shark Tank was a turning point for the company, providing the exposure and connections necessary for their business to thrive. Cousins Maine Lobster is an inspiring example of what can be achieved with hard work, dedication, and a little bit of luck.