Beyond Sushi Update | Shark Tank Season 10

Guy Vaknin came onto Shark Tank to pitch his company Beyond Sushi to the sharks. He asked for an incredible $1,500,000 investment, offering back 25% equity for his company’s West Coast operation, while also offering 5% equity to his company’s East Coast operations. Before we get into the Beyond Sushi update, let’s see if Guy Vaknin was able to make a deal with the sharks.

Shark Tank Beyond Sushi Update

• Entrepreneurs: Guy Vaknin
• Business: Healthy Sushi Alternative
• Ask: $1,500,000 for 25% equity (West) + 5% equity (East)
• Result: $1,500,000 for 30% equity (West) + 15% equity (East)
• Shark:  Matt Higgins and Lori Greiner

Guy started discussing each of his locations that he currently has open for his unique sushi business. He mentioned that he currently has six different locations at the time of making his Shark Tank pitch, starting back in 2012.

He told the sharks that his largest locations are capable of doing $2,000,000 in sales annually, while his smaller locations can do $600,000 to $1,000,000 annually. His plans to expand to the West Coast complicated some of his financial numbers and ultimately put his company $300,000 into the negative for the previous year.

After hearing some of the financial sales numbers and unit costs of his business, Daymond John decided to drop out because he didn’t understand enough of the logistical aspects of the restaurant industry. Kevin O’Leary decided to drop out as well, except for a completely different reason. Kevin believed the valuation was way too high and couldn’t see it as an investable company.

Unfortunately for Guy, he was running out of sharks. Mark Cuban would also drop out for a similar reason to Kevin, primarily because he didn’t see a return on investment by providing cash for Beyond Sushi.

Guest shark Matt Higgins definitely seemed interested in providing Beyond Sushi with an offer, but verbalized his concerns about the equity misalignment between the operations on the East Coast and West Coast. Lori Greiner wanted a piece of the action and teamed up with Matt to make an offer to Guy, offering $1,500,000 for 15% equity on the East Coast and 30% equity on the West Coast. After a few moments to think about it, Guy Vaknin decided to accept Matt and Lori’s offer. Now let’s look at our Beyond Sushi update.

Unfortunately in our Beyond Sushi update research, we found out that Guy never finalized the deal with Lori and Matt, ultimately deciding to pause his plans on the West Coast expansion. The reasoning for canceling the deal isn’t completely clear, but he continues to experience a ton of success in New York City where many of his company’s locations currently exist.

You can find the other company updates from Season 10 Episode 3 here:

• Soupergirl Update
• Bundil Investment App Update
• Cup Board Pro Update

Don’t forget to take a look at our Season 10 products page! We’ve got more company updates from Shark Tank Season 10.