Avocaderia Update | Shark Tank Season 9

Alessandro Biggi’s booming avocado restaurant, Avocaderia, faces a common startup hurdle: limited capital for growth. Despite immense popularity and a loyal following, their current location restricts expansion. Biggi seeks funding to capitalize on the surging avocado trend and open new Avocaderia locations. Let’s see if the sharks are interested in potentially investing in this business in our Avocaderia update and pitch recap.

If you’re short on time, here’s a quick overview of what happened to Avocaderia after Shark Tank.

Alessandro Biggi pitched Avocaderia, his avocado-focused restaurant concept, on Shark Tank. He sought $300,000 for a 10% equity stake. After a compelling presentation, he secured a deal with Mark Cuban and Barbara Corcoran for $400,000 in exchange for 20% equity.

In terms of an Avocaderia update, the company continues to thrive and has expanded to five locations, with each store averaging around $1 million in annual revenue.

Shark	Result
Mark Cuban and Barbara Corcoran	Accepted offer of $400,000 for 20% equity
Lori Greiner	No offer
Rohan Oza	No offer
Robert Herjavec	No offer

Shark Tank Avocaderia Pitch

• Entrepreneur: Alessandro Biggi
• Business: Avocado-themed restaurant
• Ask: $300,000 for 10% equity
• Result: $400,000 for 20% equity
• Sharks: Barbara Corcoran and Mark Cuban

Alessandro Biggi, founder of Avocaderia, pitched his innovative avocado-centric restaurant concept to the sharks during Shark Tank Season 9. His objective is clear: securing a financial partnership to fuel the growth of his one-of-a-kind avocado bar. 

Alessandro explained that his business is a unique concept positioned as the world’s first avocado bar. This innovative eatery caters to a growing demographic—health-conscious millennials—by offering a fresh and exciting menu centered around the versatile avocado. 

He tells the sharks his story and pitches his business. 

Avocaderia isn’t just about avocado toast. It’s a celebration of this popular ingredient! Their innovative menu goes beyond the typical, showcasing the avocado’s versatility in a variety of delicious dishes. 

Diners embark on a unique culinary adventure where the avocado takes center stage, transforming from a supporting role to the star of every plate. 

Avocaderia uses high-quality, responsibly sourced avocados as the foundation for its creative menu. This allows it to craft a unique dining experience for its customers, offering exciting flavor combinations and innovative ways to enjoy avocados. 

Their dedication to sustainability and culinary creativity has garnered significant attention within the food industry, and Avocaderia is constantly growing and redefining how people perceive and enjoy this popular fruit. 

He then offered the sharks samples of his dish, and they were impressed by the delicious samples. Despite being open for only eight months, the business is generating significant revenue, averaging $2,250 per day, which translates to a total of $75,000 in sales. 

Alessandro revealed that he had invested $70,000 to launch the venture and is now seeking investment from the sharks to open a second location in Chelsea.

His ambitious vision is to expand to 20 locations within the next five years, estimating a cost of $200,000 per establishment. 

Alessandro plans to utilize revenue generated from future sales to open additional locations. He projects that each new location will bring in approximately $750,000 in annual revenue. 

When Robert Herjavec asks about the high valuation of $3 million, Alessandro explains that the business is already profitable, has received significant interest in franchising opportunities, and is currently developing a cookbook. 

While Lori Greiner appreciates his concept, avocados aren’t her personal favorite, so she’s out.  

Robert Herjavec is impressed by the idea, but the current valuation doesn’t align with his investment goals, and he exits the deal. 

Guest shark Rohan Oza enjoys the food; however, the exclusively avocado-based menu doesn’t resonate with him, so he’s out, too.  

Barbara Corcoran expressed strong interest in the business and proposed a $300,000 joint investment with Mark Cuban in exchange for a 25% ownership stake. 

Alessandro felt this offer wasn’t ideal and countered with a request for $300,000 but for only 15% ownership. 

Mark, however, found this counteroffer unappealing. Alessandro then presented a revised proposal of $400,000 for 20% ownership. This offer found favor with both Barbara and Mark, and they reached a deal.

Let’s get a current day Avocaderia update to see how the company is doing after the deal with Mark and Barbara.    

Shark Tank Avocaderia Update 

The deal with Mark Cuban and Barbara Corcoran never materialized.

Despite the deal falling through, Alessandro persevered. In May 2018, approximately three months following the episode’s original airing, Alessandro successfully opened a second Avocaderia location. 

Our Avocaderia update research found that the company experienced a temporary setback in 2019 when one location faced a brief closure due to a sewage leak addressed by the health department. 

Despite this challenge, their combined sales across the remaining locations surpassed $1 million that year. However, the emergence of COVID-19 in 2020 necessitated a shift in their initial growth strategy. 

During the strict lockdown measures in New York City, Alessandro’s restaurant was fortunate to participate in Operation Feed Brooklyn, a program that provided food to the homeless. 

This initiative provided funding for Brooklyn restaurants to prepare meals for healthcare workers on the frontlines of the pandemic. 

As a result, Alessandro was able to reopen his establishment and contribute to the community effort briefly. 

Following a successful reopening in June 2021, after New York City restaurants resumed full operations in May, Avocaderia was able to move forward with its expansion plans. This included the addition of a third location shortly after restrictions were lifted.  

By February 2022, the company achieved a significant milestone, reaching $3 million in annual revenue. Their continued success led to further expansion, with a fourth location opening in New York City by February 2023. 

Most recently, in April 2024, Avocaderia added a fifth store, solidifying its presence in the city. 

The company’s current performance is impressive, with each location averaging over $1 million in annual revenue. 

With the company’s prospects looking good, we are confident that our next Avocaderia update will be a success!

You can find the other company updates from Season 9 Episode 22 here:

• Gunnar Optiks Update
• Solsource Update
• Sunniva Super Coffee Update

Before you go, be sure to check out our Shark Tank Season 9 page for more updates.