Ariel Barbouth came onto Season 10 of
Shark Tank Nuchas Update
- Entrepreneurs: Ariel Barbouth
- Business: Empanadas
- Ask: $2 million for 8% equity
- Result: No deal
- Sharks: None
The first question on the mind of the sharks was the company’s sales numbers. It turns out that Ariel’s company had already done $5 million in the current calendar year. The company operated a kiosk in Times Square that averaged $800,000 in revenue, annually. Another $3 million of the company’s gross revenue was from sales to external third parties.
Ariel told the sharks that he expected to net about $700,000 in profits during the current year and can multiply that net profit number by three times that amount if his company reached its projection of $12 million in gross sales.
Mark Cuban didn’t see any way for him to make his money back and admitted to Ariel that he wouldn’t be able to make an offer to his business. He would be the first shark to drop out of the negotiations without making an offer. It wouldn’t take long for Lori Greiner to drop out as well because she didn’t want to invest $2 million for such a small chunk of equity.
Daymond John decided to offer $2 million for 25% equity in the business. Shortly after hearing Daymond’s offer, Barbara Corcoran also made an offer of $1 million for 100% of the company’s retail portion, while she would offer the other $1 million as a loan.
Ariel respectfully declined both offers and ultimately left
It appears that he’s managed to grow his company, despite struggling through the COVID-19 pandemic at times. Nuchas is still in operation and is estimated to be generating about $4 million per year in gross revenue. The Nuchas company has also landed a collection of new partnerships and continues to look for new ways to grow and expand.
You can find the other company updates from Season 10 Episode 18 here:
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