Oilerie USA Olive Oil Franchise Update | Shark Tank Season 6

Olive oil may be one of the most used ingredients in America, but few options are available for good, quality products. That’s why Curt Campbell wanted to provide a better olive oil purchasing experience, after being inspired on a trip abroad.  Will the sharks offer Curt a deal on Shark Tank Season 6? Find out in our Oilerie USA update!

Shark Tank Oilerie USA Update

Oilerie USA Update

  • Entrepreneurs:  Curt Campbell
  • Business: Bulk olive oil franchise
  • Ask: $500,000 for 35% equity
  • Result: No deal
  • Sharks: None

Curt managed to turn his start up olive oil business, Oilerie USA, into a multi-location franchise. He brought his finest oils to the tank, handing out samples for the sharks to try. Lori Greiner especially loved his truffle oil. Curt was hoping to expand his franchises and become the Starbucks of olive oil.

A single bottle of oil is sold for about $16.50, while it only costs him $3.60 to produce.  Curt’s impressive margins come from the fact that he buys in massive bulk from Italy, allowing him to get olive oil for as little as $0.21 an ounce.

In the year before coming onto Shark Tank, Curt managed to generate more than $3.1 million in gross revenue. Much of the revenue comes from what Curt calls the ‘Oilerie USA’ franchise system, which has expanded to retail locations in states like Ohio, Oregon, and Minnesota. Curt charges a franchise fee of $37,500 in addition to an 8% royalty in perpetuity.

Lori Greiner dropped out first because she had concerns about the amount of stress that Curt had previously faced and worried about whether he could handle a partnership as the company grew into the future. Barbara Corcoran agreed and also decided to drop out without making an offer.

Robert Herjavec just wasn’t that impressed with the oil, so he dropped out. Kevin O’Leary, the self proclaimed “collector of olive oil”, didn’t believe that the company had reached a stage where it could be a profitable investment in the future. Mark Cuban also felt that he wouldn’t be the ideal partner, so he became the final shark to drop out as well.

While all the sharks were impressed with Curt as an entrepreneur, he ended up leaving the tank without a deal.  What ever happened with this business? Keep reading our Oilerie USA update to find out!

We have great news to report! Research for our Oilerie USA update revealed that since appearing on Shark Tank, Curt’s company has managed to stay in business. He generates approximately $5 million in gross revenue every single year. You can learn more and purchase their products on the Oilerie USA website.

If you’d like to find out more about the other companies appearing in Season 6 Episode 6, follow the links below for the episode’s other company updates.

For even more on companies and products, be sure to stop by our Season 6 Products Page!