Cousins Maine Lobster Shark Tank Deal
Seafood lovers, rejoice! Cousins Maine Lobster, known for their delicious lobster rolls and seafood dishes, made a splash when they appeared on Shark Tank in 2012. The dynamic duo behind the business, Sabin Lomac and Jim Tselikis, impressed the sharks and walked away with a deal that helped launch their brand to new heights.
The Cousins Take on Shark Tank
When Lomac and Tselikis entered the Shark Tank, they asked for $55,000 in exchange for 5% equity in their business. Their pitch was simple yet effective: they're two cousins from Maine who love lobster and wanted to bring the taste of their hometown to the rest of the country.
The sharks were immediately impressed with their pitch and the quality of their lobster. Mark Cuban, in particular, was interested in the cousins' business and offered them $55,000 for a 15% stake. However, Lomac and Tselikis knew they could negotiate a better deal and asked the other sharks if they were interested.
Barbara Corcoran and Kevin O'Leary both made offers, but it was Corcoran's $55,000 for 15% equity that ultimately won out. The cousins accepted the deal, and their business exploded in popularity.
Post-Shark Tank Success
After their appearance on Shark Tank, Cousins Maine Lobster became a household name. Their popularity soared, and they were able to expand their business to more locations across the country.
The cousins opened a food truck in Los Angeles, which quickly gained a following. They also started shipping their lobster rolls nationwide, which allowed customers to enjoy their food no matter where they were located.
In 2017, Lomac and Tselikis even opened their first brick-and-mortar restaurant in West Hollywood. The restaurant became an instant hit, and the cousins now have multiple locations across the country.
Conclusion
Thanks to their appearance on Shark Tank, Cousins Maine Lobster was able to take their business to the next level. Lomac and Tselikis' passion for lobster and their entrepreneurial spirit impressed the sharks, and their success since then is a testament to their hard work and dedication.
Today, Cousins Maine Lobster is one of the most popular seafood restaurants in the country. Their lobster rolls are a must-try for anyone who loves seafood, and their success story is an inspiration to anyone who dreams of starting their own business.