Seafood can be expensive, difficult to buy, and tricky to cook. Houston moms Emily Castro and Melissa Harrington are here to change that with their seafood delivery service, Fish Fixe. After pitching their company on
If you’re short on time, here’s a quick overview of what happened to Fish Fixe after
Melissa Harrington and Emily Castro appeared on
|Accepted deal of $200,000 for 25% equity
|$200,000 for 33.3% equity
Shark Tank Fish Fixe Update
- Entrepreneurs: Emily Castro and Melissa Harrington
- Business: Seafood delivery service
- Ask: $200,000 for 15% equity
- Result: $200,000 for 25% equity
- Shark: Lori Greiner
Emily Castro and Melissa Harrington love seafood, and it’s their mission to help moms all over the country love it too. They hope to make healthy seafood options accessible to individuals and families nationwide with their delivery service, Fish Fixe.
Fish Fixe delivers portioned seafood complete with thawing and cooking instructions right on the bag. Plus, the bags absorb odor, perfect for those who worry about the fishy smell.
The entrepreneurs present the sharks with samples of their recipes to get started, and the sharks love it. They are particularly drawn to the spicy cajun sauce and note the good quality of the fish.
Right off the bat, the sharks start with the questions.
Melissa and Emily share that the business is 100% direct-to-consumer and did $821,000 in revenue last year. However, it only made $20,000 in profit due to the cost of fish and high customer acquisition costs. Their production cost is also high — at about $111 on an average order of $148.
Though they are poised to do $1.2 million in sales in the year of filming, they’re facing some distribution issues.
A business boom during the pandemic left them scrambling and shipping costs have gone through the roof. This is one of the things they hope a shark can help with.
Mark Cuban doesn’t like that the costs are so variable, considering the market price of the fish and shipping costs. So, he drops out first.
Robert Herjavec doesn’t have enough experience with shipping and distribution to be able to help, and he’s out as well.
Surprisingly, Kevin O’Leary gives them an offer immediately. This fits right in his Chef Wonderful wheelhouse and he can offer them all of the resources that they need, but he wants to be a partner. He offers $200,000 for 33.3% of the business.
Guest Shark Nirav Tolia drops out next because he doesn’t understand enough about fish.
Lori Grenier follows, saying they shouldn’t give away equity and they just need some help — not necessarily a partner.
This leaves only Kevin’s deal on the table. Emily and Melissa counter at 25% equity, but he isn’t flexible at all. The lowest he’ll go is 30%.
He tries to sell them, assuring them that his main demographic for Chef Wonderful products is moms, which is the duo’s target market.
Mark jumps in to advocate for Kevin because he thinks that Mr. Wonderful is the best shark to help them out. Still, Kevin won’t budge.
In a last-minute turn of events, Lori Greiner says she doesn’t want them to give away that much equity. Instead, she offers $200,000 for 25% equity, which they accept almost immediately.
She snatched the deal right out of Kevin’s mouth! Was this a great move from Lori? Read on in our Fish Fixe update to find out.
Fish Fixe is still thriving, with customizable portioned boxes available directly from the Fish Fixe website.
During a Fish Fixe update in
They also shared that Lori offered them some great advice about customer relations and helped navigate a distribution deal to help lower shipping costs to the West and East Coast and increase their profit margins.
In an interview with Tasting Table, Melissa shared that they’re planning to expand seasoning and spice offerings, as well as exploring the idea of full-service meal kits.
It looks like Emily and Melissa are getting closer to their goal of making healthy and easy-to-make seafood options accessible to everyone. We can’t wait to see what our next Fish Fixe update reels in!
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Andrew Smith is the founder and owner of Shark Tank Recap. He is a longtime Shark Tank fan that has been watching it for years and has seen every episode multiple times. His friends know him as the Shark Tank expert, because he can answer any question about the show! His favorite Shark Tank products are Bertello's pizza oven and Bug Bite Thing!