Fat Shack Update | Shark Tank Season 10

Tony Armenti couldn’t find any late-night food after college when everything was closed by dinnertime. So he launched Fat Shack, a place serving loaded sandwiches filled with fries, mac and cheese, bacon, and more, all available until 4 AM. With help from his friend Kevin Gabauer, Fat Shack grew fast and started franchising. Will the sharks get on board with this late-night food fix? Let’s find out in our Fat Shack update and pitch recap.

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

Tom and Kevin entered Shark Tank Season 10, seeking $250,000 for 7.5% equity in their fast-food business. After their pitch, they agreed to deal with Mark Cuban for $250,000 for 15% equity.

In terms of a Fat Shack update, the company has grown from 11 to about 30 locations across 13 states, with annual franchise-wide revenue reaching $17.54 million.

Shark	Result
Mark Cuban	Accepted offer of $250,000 for 15% equity
Kevin O’Leary	$250,000 for 25% equity
Daymond John	$250,000 for 25% equity
Robert Herjavec	$250,000 for 17% equity
Lori Greiner	No offer

Shark Tank Fat Shack Pitch

• Entrepreneurs: Tom Armenti and Kevin Gabauer
• Business: Fast Food / Junk Food
• Ask: $250,000 for 7.5% equity
• Result:  $250,000 for 15% equity
• Shark: Mark Cuban

Tom and Kevin pitched Fat Shack on Shark Tank, asking for an investment to grow their fast-casual restaurant franchise.

Fat Shack sells high-calorie comfort food like cheesesteaks, burgers, and their Fat Sandwiches, which are packed with fried appetizers and sauce.

The business stays open until 4 AM and mainly targets college students and late-night crowds.

To kick off their pitch, Kevin leaned into the humor. He tossed out a kale salad in mock disgust, then built one of their monstrous sandwiches on stage, stacking it high with fried goodies and cheese.

The sharks laughed but paid attention. Tom added that their menu also includes wild options like deep-fried funnel cake bites and triple-stacked cheeseburgers.

Tom originally launched Fat Shack in 2010 with just $5,000. He rented out a local bagel shop during its off hours and ran the business at night.

Eventually, he moved to Colorado and opened a full-time location. Kevin joined him, and they expanded to 11 stores across three states.

Two locations are company-owned, and the other nine are franchised.

As the pitch continued, Lori Greiner asked about the calorie count. Tom admitted the sandwiches range from 700 up to a massive 2,000 calories.

Kevin O’Leary looked stunned. Daymond John and Robert Herjavec, however, complimented the flavor.

Mark Cuban asked about franchising. Tom and Kevin explained that the franchise fee is $18,000, with a 6% royalty. It costs $75,000 to $100,000 to open a location.

Robert wanted to know who manages the franchises. Tom said many franchisees are former employees who worked their way up through the business.

At that point, they shared their numbers. Fat Shack had generated over $22 million in total sales. In the previous year alone, they made $5.7 million.

Mark asked about their lowest-performing store. Tom said even the weakest store was still profitable.

Robert pointed out that a $30,000 return wouldn’t justify a big equity stake. That’s when the offers started rolling in.

Mr Wonderful offered $250,000 for 25% equity. Daymond quickly made the same offer.

Meanwhile, Robert countered with $250,000 for 17% equity but wanted to hold off on payouts until certain milestones were met.

Mark also offered $250,000 for 17% equity but had concerns about investing in an unhealthy food business.

Tom then countered Mark’s offer, asking if he’d do the deal at 15% equity. Mark agreed

Ultimately, Tom and Kevin secured a deal and a partner to help take Fat Shack to the next level.

In our Fat Shack update, we will explore how the company has expanded since appearing on Shark Tank.

Shark Tank Fat Shack Update

Our Fat Shack update found that the deal with Mark Cuban closed successfully.

Within 48 hours of the episode airing in May 2019, the company received over 3,000 franchise inquiries, although the founders remained selective and moved forward slowly.

From 2020–2021, the business expanded steadily, going from 11 locations at pitch time to about 30 by 2025, all across 13 states.

Further, our Fat Shack update found that each store averages roughly $620,000 in sales, and median franchise sales reached $889,873 as of the latest Franchise Disclosure.

According to Kona Equity and Food Republic, system-wide revenue in 2023 was approximately $17.54 million, a roughly 777% increase since its Shark Tank debut.

In early 2025, Fat Shack celebrated its 15th anniversary and confirmed that its newest menu item, the value-priced “Fat Stacks” at $5.99, had been rolled out.

Fat Shack remains privately held. Both founders continue to lead actively, with Tom even pitching in at the Fort Worth store during late-night shifts.

Mark Cuban was undoubtedly an influential factor and has played a huge role in helping Tom and Kevin grow their business.

We can only imagine that our next Fat Shack update will be even better.

You can find the other company updates from Season 10 Episode 23 here:

• Coyote Vest Update
• Quickflip Update
• BatBnB Update

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