Next into the tank is Alessandro Biggi of Avovaderia, seeking $300,000 for 10 percent equity.
Avocaderia is an avocado bar where every dish features the popular green fruit. According to their website, everything on the menu includes avocado in some form: “We have developed tasty recipes just for you: we smear ’em onto toast, mash ’em into guacamole, or top your morning eggs with a couple slices. Whatever your day feels like, we give it the perfect taste.” The quick-serve restaurant, which is located in Brooklyn, New York, serves avocado toasts, smoothies, salads and more.
The sharks think the food is very good and Barbara Corcoran likes its “beautiful” presentation. They did $75,000 in sales last month and are projected to do $4.3 million next year. With an investment, he hopes to open 20 more restaurants.
Lori Greiner finds the food “delicious” and likes the mission, but isn’t the biggest fan of avocados. She goes out, followed by Robert Herjavec over the valuation. Guest shark Rohan Oza worries about the avocado-focused menu as well. He goes out. Corcoran, however, likes the single-mindedness and design and offers $300,000 for 25 percent. Mark Cuban would also be involved in the offer. He counters 15 percent, which Corcoran rejects. Ultimately, he counters again at $400,000 for 20 percent, which they accept.
Each week on “Shark Tank,” budding entrepreneurs have the opportunity to pitch their emerging businesses to multi-millionaire and billionaire investors, known as sharks: Mark Cuban, owner of the Dallas Mavericks; Daymond John, fashion mogul and founder of FUBU; Kevin O’Leary, self-proclaimed Mr. Wonderful and founder of O’Leary Financial Group; Barbara Corcoran, real estate maven; Lori Greiner, queen of QVC; and Robert Herjavec, technology guru and founder/CEO of the Herjavec Group.
Philanthropist and Virgin Group founder Richard Branson, Spanx founder Sara Blakely, Skinnygirl Cocktails founder and Real Housewife Bethenny Frankel, Vitamin Water founder Rohan Oza and former MLB player Alex “A-Rod” Rodriguez are also slated to appear as guest sharks this season.
“Shark Tank,” which is based on “Dragons’ Den,” is produced by Mark Burnett and first debuted in 2009. To date, the sharks have invested more than $100 million in various companies after engaging in numerous bidding wars and shark fights. A new episode airs each Sunday at 9 p.m. on ABC.
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Author: Erica Abbott