During the tenth season of Shark Tank, 2018, a network of vegan eateries called Beyond Sushi was highlighted. By providing a variety of inventive, organic, kosher sushi along with other natural Japanese-inspired cuisine, Beyond Sushi transformed the vegan sushi market.
The philosophy of the company is focused on a nutritious diet and environmental preservation. The company also provides catering services.
The company won the hearts of the audience, but will it melt the hearts of the Sharks? Let’s now review the Beyond Sushi upgrade.
About the Founder
Guy Vaknin, a Moroccan-born Israeli, learned how to whip up exquisite meals from his grandmother. After serving in the Israeli military for a while and earning a degree in technology, he enrolled in the Institute of Culinary Creations.
Tali, Guy’s partner, launched their initial business serving with Tali’s meatless specialties, in 2012.
Founding the Beyond Sushi
A series of restaurants called Beyond Sushi serves sushi substitutes made from plants. According to Vaknin, 40% of the customers at Beyond Sushi do not consider themselves vegan, which demonstrates the popularity of his organic, healthful food.
Chef Vaknin employs vegetables, fruits, spices, aromatics, and whole-grain flour to make flavorful, yet healthful dishes. His exceptionally well-liked and prosperous locations in New York also provide online purchases and pickup.
Shark Tank Appearance
Vaknin’s presentation for a total of $1.5 million for 25% of his West Coast enterprises and 5% of his East Coast enterprises, Beyond Sushi made a sensation on Shark Tank.
He claimed that the bigger sites generate $2,000,000 in revenues yearly, whereas his smaller ones can generate $600,000 to $1,000,000 yearly.
Daymond John decided to leave the program after seeing some of the monetary revenue figures and unit expenses of his company. He felt Vaknin lacked sufficient knowledge of the administrative facets of the food industry.
Kevin O’Leary departed too, but for a quite distinct cause. He doubted the organization to be a profitable one because he thought its worth was simply exorbitant.
Mark Cuban subsequently withdrew from the project since he failed to realize a profit from lending money to Beyond Sushi.
Visitor Shark, Matt Higgins expressed worries about the capital imbalance between the businesses on both the eastern and the western Coast. Though, it intrigued him to make an offer to the company. To support the situation, Greiner and Matt made a joint offer to Guy. They proposed $1,500,000 in exchange for 15% interest on the East Coast plus a 30% stake on the West Coast.
After Shark Tank
After the show, Guy subsequently closed the agreement with Lori and Matt and finally decided to postpone his ambitions to expand to the West Coast.
You can visit Beyond Sushi in New York City’s Herald Square. It was backed by 25% of Sandy Beall’s equity, the creator of Ruby Tuesday.
The contract failed irrespective of everything went smoothly in the shark tank; yet, the company is still valued at more than $10,000,000, presently.
The company has grown and established 6 vegan restaurants in Manhattan. The valuation of Beyond Sushi in 2023 is $23 million and Vaknin has an estimated wealth of $17 million.
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