FryAway Cooking Oil Solidifier Update | Shark Tank Season 14

While discussing a massive “fatberg” of congealed grease found in London’s sewers, Laura Lady realized how harmful improper oil disposal could be. In her own kitchen, she saw how leftover cooking oil often ended up clogging pipes or being dumped into landfills. To solve this, she created FryAway, a plant-based powder that solidifies oil and makes it easy to throw away or compost. As innovative as the product is, will the sharks invest in this idea? Read our FryAway update and pitch recap to find out.

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

Laura entered Shark Tank Season 14, seeking $250,000 for 10% equity in her cooking oil solidifier. After her pitch, she made a deal with Lori Greiner and Mark Cuban for $250,000 for 22% equity.

In terms of a FryAway update, the company successfully expanded its reach by launching products in over 1,100 Kroger stores and gaining recognition through media coverage like Food and Wine’s Game Changers column. 

Shark	Result
Lori Greiner and Mark Cuban	Accepted offer of $250,000 for 22% equity
Kevin O’Leary	$250,000 for 10% equity
Robert Herjavec	No offer
Daymond John	No offer

Shark Tank FryAway Pitch

• Entrepreneur: Laura Lady
• Business: Cooking oil solidifier
• Ask: $250,000 for 10% equity
• Result: $250,000 for 22% equity
• Sharks: Lori Greiner and Mark Cuban

Laura entered Shark Tank to tackle one of the kitchen’s messiest problems: disposing of used cooking oil without blocking pipes and harming the environment.

She explained how collecting the hot oil in jars, instead of pouring it down the sink isn’t a great solution either.

According to Laura, it can take more than 400 years for that container to break down.

Laura is asking for $250,000 to scale production and bring her eco-friendly solution to even more homes.

FryAway is a plant-based, non-toxic powder that makes disposing of used cooking oil simple and safe. 

The powder solidifies warm cooking oil into a solid, Jello-like block. Once hardened, it can be tossed in the trash or composted. 

Thus, there’s no need for messy containers or harmful dumping down the drain. 

In just one year of being in business, FryAway has earned over $700,000. Further, the company is also cash-flow positive, which was even better news for the sharks to hear.

They admired these numbers but sought more information about future projections and plans before committing their own funds to the business.

Each FryAway product is priced between $9.99 and $15.99, with a landed cost ranging from $0.96 to $1.96. 

While the company has seen success marketing on Amazon, the platform significantly reduces its net profit margins. 

Laura shared promising news: FryAway will launch in 1,100 Kroger stores by the end of 2022.

Kevin O’Leary didn’t think his beliefs about fried foods would allow him to invest in good faith, so he dropped out first. 

Daymond John also dropped out without making an offer because he felt that he couldn’t provide value. 

Robert Herjavec was also out because it wasn’t the right fit for him.

As sharks slowly dropped out, Laura started running out of options. Mark Cuban suggested that maybe she should make him an offer that he could not refuse.

In the meantime, Lori Greiner wanted to make an offer of $250,000 for 20% equity. Then Mark wanted to join in on Lori’s deal, and they countered Laura with $250,000 for 25% equity.

Laura wanted to stick with 20%, but they countered her back at 22%, and she accepted.

What do you think happened next for Laura and her company? Keep reading our FryAway update to find out. 

Shark Tank FryAway Update

Our FryAway update found no evidence that the deal with Lori Greiner and Mark Cuban was finalized, as the contract is still under due diligence.

However, shortly after its episode aired, FryAway experienced a significant surge in orders, leading to increased website traffic and sales. 

The company also expanded its retail presence, with products becoming available in over 1,100 Kroger stores across the United States. 

Furthermore, publications such as Food and Wine featured the company in their Game Changers column, highlighting its innovative approach to cooking oil disposal.

Additionally, BuzzFeed ranked FryAway as one of the top 17 Shark Tank products of the year in 2023. 

At the time of this writing, FryAway’s net worth had grown to an estimated $6 million, and its annual revenue reached approximately $2.8 million. 

Products are also available on the official website. We will let you know when we have more news about a FryAway update.

For more updates from Shark Tank Season 14 Episode 13, be sure to check the links below:

• Anytongs Update
• Copy Keyboard Update
• Slick Barrier Update

Before you go, be sure to check out our list of all the Shark Tank Season 14 products.