When cooking oil is poured down the drain, this not only creates blockages but also contaminates water sources. That’s why Laura Lady wanted to come up with a solution to this massive kitchen problem. Her non-toxic, plant-based powder transforms cooking oil into organic waste, making it a safer choice. Will she get a deal on
Shark Tank FryAway Update
- Entrepreneurs: 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 got the sharks’ attention with her product, FryAway, which seems to be solving a big problem both in the kitchen and in 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!
Mess-free Cooking oil Disposal ---- Cleaning up after frying doesn’t have to be messy. Solidify up to 8 cups of leftover oil in 3 easy steps so you can easily toss away your cooking oil straight into the trash. No more messy spills, containers of oil or costly drain pours.
In just one year of being in business, FryAway has earned just over $700,000, a wonderful milestone. The company is also cash-flow positive, which was even better news for the sharks to hear.
While they were impressed with these numbers, they wanted to learn more about future projections and plans before committing their own funds to the business.
The selling price of each product is between $9.99 to $15.99, while the landed cost is between $0.96 and $1.96. FryAway has had successful marketing on Amazon, but it’s eating up a lot of the net-profit margin that the company experiences.
There is some good news according to Laura though, as she expects to launch FryAway 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!
We have great news to share in our FryAway update! Its products are now available in more than a thousand Kroger Stores, since appearing on
Laura is hoping that her partnership will continue to lead to more opportunities. The company continues to remain in business at the time of writing and Laura continues to heavily market her company’s products on Amazon and through retail distribution.
Products are also available on the official website and when we get more news on a FryAway update we will be sure to let you know!
Do you want to learn about the other companies featured in Season 14 Episode 13? Follow the links below for our other company updates from the episode.
For even more on companies and products, be sure to stop by our Season 14 Products Page!
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Jeremy is a regular contributor at Shark Tank recap. He has a ton of passion for the show and enjoys researching information about what all the companies are up to now. His favorite Shark Tank companies are The Cookie Dough Cafe and Kronos Golf!