Beyond Sushi Vegan Restaurant Update | Shark Tank Season 10

While serving vegan sushi at the NYC Vegetarian Food Festival in 2012, Chef Guy Vaknin saw how limited clean, plant-based options were in the sushi space. People wanted healthier food without fake meats or fish, but choices were slim. That experience led him to launch Beyond Sushi. It’s a plant-based roll made with vegetables, fruits, and whole grains. Would his mission to reinvent sushi hook any of the sharks? Let’s find out in our Beyond Sushi update and pitch recap.

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

Guy entered Shark Tank Season 10, seeking $1,500,000 for 25% equity (West) + 5% equity (East) in his healthy sushi alternative. After his pitch, he made a deal of $1,500,000 for 30% equity (West) + 15% equity (East) with Lori Greiner and guest shark Matt Higgins.

In terms of a Beyond Sushi update, the company  expanded to seven locations in New York City before the pandemic forced several closures. It now operates three Manhattan locations and generates an estimated $5 million annual revenue under the broader City Roots Hospitality brand.

Shark:	Result:
Lori Greiner & Matt Higgins	$1,500,000 for 30% equity (West) + 15% equity (East)
Kevin O’Leary	No offer
Daymond John	No offer
Mark Cuban	No offer

Shark Tank Beyond Sushi Pitch

• Entrepreneur: 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)
• Sharks:  Matt Higgins and Lori Greiner

Chef Guy stepped into Shark Tank with a colorful display of sushi rolls, except these weren’t your typical sushi.

He introduced Beyond Sushi, a 100% plant-based sushi brand that skips the fish and instead uses vegetables, fruits, and whole grains to create bold, flavorful rolls.

As a vegan chef, Guy made it clear that he doesn’t believe in fake meats either. His menu also includes wraps, dumplings, and salads, which were all made from fresh, natural ingredients.

He handed out samples of his top-selling rolls like the Mighty Mushroom Roll and The Sunny Side. The sharks were impressed by how good everything tasted.

Guy then asked for $1.5 million in exchange for 25% of his West Coast business and 5% of his East Coast business.

His goal was to expand beyond New York and take his plant-based concept to the West Coast.

As the sharks dug into the food, the questions started flying. They wanted to understand how the business worked, what it made, and what it cost.

Guy explained that each roll has eight pieces, just 280 calories, and costs him $1.50 to make. He sells it for $7.50, which gives him a healthy profit margin.

At the time of the pitch, Beyond Sushi had six locations spread across Manhattan, all served by one large commissary kitchen.

He shared that his largest store brings in $2.5 million a year in revenue, while smaller ones earn between $600,000 and $1 million.

Back in 2015, he partnered with the former owner of Ruby Tuesday, who now owns 25% of the East Coast business.

In 2016, Beyond Sushi made $2.4 million in revenue and earned a $600,000 profit.

But in 2017, after opening two large locations and investing in the commissary kitchen, the company posted a loss of $272,000 despite hitting $4 million in sales.

For 2018, Guy projected sales of $5.6 million.

Daymond John was the first shark to bow out. He said the restaurant jargon made things too complicated for him to follow.

Kevin O’Leary also passed, saying the $5 million valuation didn’t make sense to him.

Mark Cuban followed, saying that while he admired Guy, he just didn’t feel confident enough in the numbers to invest.

That left guest shark Matt Higgins and Lori Greiner. Both liked the food and the business, but they had concerns about the risk tied to expanding into the West Coast.

To balance that, they offered to invest the full $1.5 million, but they wanted 30% of the West Coast business and 15% of the East Coast business instead.

Guy took a moment to think about it. Then he smiled and accepted the offer.

Now let’s look at our Beyond Sushi update to find out what happened following Shark Tank!

Shark Tank Beyond Sushi Update

Our Beyond Sushi update found that the deal with Matt and Lori ultimately fell through during the due diligence phase, as Guy decided not to proceed with the investment.

Despite this setback, Beyond Sushi continued to thrive in New York City. The company expanded to seven locations at its peak.

Sadly, COVID-19 necessitated the closure of several outlets. Nevertheless, the company persevered by focusing on takeout, delivery, and outdoor dining options.

At the time of this Beyond Sushi update, the company operates three locations in Manhattan. Further, it has diversified its offerings through City Roots Hospitality, a catering division, and additional vegan restaurants like Willow, Coletta, and Anixi.

It’s hard to say for sure, but best we can tell Beyond Sushi brings in around $5 million per year.

If we get any more news, we will be back for another Beyond Sushi update!

You can check out our other company updates from Season 10 Episode 3 by following the links below!

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

Before you go, be sure to check out our list of all the Shark Tank Season 10 products.