PhoLicious Update | Shark Tank Season 16
During the pandemic, Joseph and Anh Trousdale were working long hours as essential workers and couldn’t enjoy the authentic Vietnamese pho they loved because restaurants were closed. The instant pho at the store didn’t taste right, so they decided to make their own. They created PhoLicious, an instant pho that’s easy to make in five minutes but still has the rich, traditional flavors of homemade pho. Will they earn a deal? Let’s find out in our PhoLicious update and pitch recap.
If you’re short on time, here’s a quick overview of what happened to PhoLicious after
Joseph and Anh entered
In terms of a PhoLicious update, the product is now sold in over 450 Walmart stores and 150 Sam’s Club locations nationwide.
| Shark | Result |
| Kevin O’Leary | Accepted offer of $500,000 for 15% equity |
| Daniel Lubetzky | $500,000 for 20% equity |
| Mark Cuban | No offer |
| Robert Herjavec | No offer |
| Lori Greiner | No offer |
Shark Tank PhoLicious Pitch
- Entrepreneurs: Joseph and Anh Trousdale
- Business: Pre-packaged authentic Vietnamese soup
- Ask: $500,000 for 10% equity
- Result: $500 for 15% equity
- Sharks: Kevin O’Leary
Joseph and Anh entered
PhoLicious is an instant version of authentic Vietnamese pho. It offers a quick and convenient way to enjoy the rich, aromatic flavors of this traditional rice noodle soup.
With their investment ask, Joseph and Anh plan to scale production, expand distribution, and ensure that their instant pho becomes a staple in kitchens across America.
Moreover, unlike other instant noodles, which often taste the same, PhoLicious comes in rich flavors made from a family recipe.
Each bowl comes with a special “pho tea bag” filled with spices like cinnamon, cloves, and star anise. These spices give the broth an authentic and warm taste.
Furthermore, customers can add fresh toppings like herbs, lime, or bean sprouts to make it feel like a meal from a restaurant.
It costs $1.75 to produce one bowl of PhoLicious, which is sold wholesale for $3.89 and retails for $5.48.
Anh shared with the sharks that they started PhoLicious in May 2021. That year, they made $68,000 in sales by selling directly to customers online.
In 2022, their revenue grew to $438,000. By 2023, they hit $2.1 million. This year, they expect their sales to reach between $5 million and $6 million.
PhoLicious products are sold in 133 Sam’s Club stores and 250 Walmart locations. They plan to add their products to 107 more Sam’s Clubs by fall.
On average, each Walmart sells about 30 bowls of PhoLicious per week across all flavors.
The business operates out of a 47,000-square-foot facility in Houston, Texas, where it handles both manufacturing and distribution.
When the entrepreneurs revealed that they sold their house for $250,000 to fund their business, the sharks were impressed.
They used the money to grow from a small 1,700-square-foot space to their current location.
PhoLicious became profitable at the end of 2022, and so far this year, they’ve made $390,000 in profit.
Kevin O’Leary says he can triple the size of their distribution in 60 days and makes an offer of $500,000 for 20% equity.
Meanwhile, guest shark Daniel Lubetzky says he’s bringing 30 years of food industry experience, from manufacturing to development. He matches Kevin’s offer of $500,000 for 20% equity.
Lori Greiner says the other sharks have made better offers than she can provide, and she decides to step out.
Robert Herjavec says he hasn’t had pho before but loves their product. However, he shares the same sentiment as Lori and exits.
Mark Cuban says he thinks the business is too dependent on shelf space. He adds that it could face challenges in price-competitive stores and exit the negotiations.
The entrepreneurs counter Kevin and Daniel’s offer with 12% equity.
Daniel immediately refuses, emphasizing the amount of work his team would be putting into the business.
In contrast, Kevin jumps in and says he will do the deal for 15% equity.
Joseph and Anh accept Kevin’s offer of $500,000 for 15% equity, leaving the show with a deal in hand.
Let’s get a PhoLicious update to see where the company is today.
Shark Tank PhoLicious Update
Our PhoLicious update found that as soon as the episode aired, the company received a big boost in sales.
Further, since their episode was filmed, PhoLicious products are now available in over 450 Walmart locations and 150 Sam’s Club locations across the United States.
In late Autumn 2024, PhoLicious attended the Walmart Open Call as a mentor.
During the event, they shared their journey and insights from their 2022 experience, reflecting their growth and recognition in the industry.
Things are looking bright for the future. Once the dust settles, we will be back for another PhoLicious update!
For more updates from the
Before you go, be sure to check out our list of all the Shark Tank Season 16 products.
Marvin Uzor
Marvin Uzor is a content contributor for Shark Tank Recap. He specializes in crafting engaging, well-researched content that delve into the latest Shark Tank stories, keeping readers hooked. He has a soft spot for his favorite Shark Tank companies, Bombas and Doorbot, known for their innovation and impact.