What is Nuchas? Nuchas is a business specializing in handcrafted Argentinian-style empanadas with various savory and sweet fillings. It was founded by Ariel Barbouth and his wife Leni in New York City in 2011.
Summary
- Nuchas is a New York-based company specializing in Argentinian-style empanadas.
- Founder Ariel Barbouth appeared on Season 10 of Shark Tank seeking $2 million for 8% equity.
- Despite receiving offers from Daymond John and Barbara Corcoran, he left without a deal.
- Nuchas has since expanded its wholesale operations and partnered with various companies.
- The company has faced challenges due to the COVID-19 pandemic but continues to grow.
- Nuchas is estimated to be generating about $4 million per year in gross revenue.
Nuchas Shark Tank Update | Shark Tank Season 10
What is Nuchas?
Nuchas is a company that makes delicious, handcrafted empanadas. Empanadas are like little pies filled with tasty things like meat, cheese, or vegetables.
Nuchas was started in New York City by a man named Ariel Barbouth and his wife, Leni. They wanted to share the flavors of Argentina with New Yorkers.
Nuchas’s Shark Tank Appearance
Ariel Barbouth went on the TV show Shark Tank to try and get money to help his business grow. Shark Tank has business experts called “Sharks” who listen to people’s ideas and decide if they want to invest money in them.
Ariel appeared on Season 10 of Shark Tank. He hoped the Sharks would like his empanadas and want to help him make Nuchas even bigger.
Nuchas on Shark Tank Pitch
1. Ariel’s Pitch
| Entrepreneurs | Ariel Barbouth |
|---|---|
| Business | Nuchas – Handcrafted Argentinian Empanadas |
| Ask | $2 million for 8% equity |
| Deal | No deal |
| Sharks | Mark Cuban, Lori Greiner, Daymond John, Barbara Corcoran, Kevin O’Leary |
| Season – Episode | Season 10, Episode 12 |
| Original Air Date | November 18, 2018 |
| Website | Nuchas |
| Key Points of Pitch |
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| Why Sharks Declined |
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2. The Sharks’ Offers
Even though the Sharks liked the empanadas, they didn’t all agree on how to invest in Nuchas. Daymond John offered Ariel $2 million, but he wanted to own a bigger part of the company (25%).
Barbara Corcoran had a different idea. She wanted to own all of the stores where Nuchas sold empanadas and give Ariel a loan to make more empanadas for stores.
3. Why No Deal Was Made
Ariel thought his company was worth a lot of money, and he didn’t want to give the Sharks too much control. He also wanted to keep his stores.
So, even though the Sharks made offers, Ariel decided not to take any of them. He left Shark Tank without a deal.
Nuchas Update
1. Post-Shark Tank Growth
Even though Ariel didn’t make a deal on Shark Tank, things have gone pretty well for Nuchas! He used some of the ideas the Sharks gave him, like selling more empanadas to other businesses.
He also started selling Nuchas empanadas across the United States through their website. This helped Nuchas reach more people and grow.
2. Franchise Model
At first, Ariel tried letting other people open their own Nuchas stores. This is called franchising. It’s like copying a successful business in a new place.
However, Nuchas later decided to focus more on selling their empanadas wholesale.
3. Wholesale Partnerships
Nuchas found new ways to sell lots of empanadas. They teamed up with other companies to offer their empanadas in different places.
For example, they worked with a company that delivers meals for kids. This helped them reach more customers and sell more empanadas.
4. Impact of the COVID-19 Pandemic
Like many businesses, Nuchas faced challenges when COVID-19 hit. People weren’t going out as much, so they had to find new ways to sell their empanadas.
They focused more on online sales and deliveries. This helped them keep the business going during a tough time.
5. Current Revenue and Valuation
Today, Nuchas is doing well! They sell their empanadas online, in some stores, and to other businesses.
It’s estimated that they make around $6 million in sales each year. This shows that even without a Shark Tank deal, Nuchas has become a successful business.
The Future of Nuchas
1. Expansion Plans
Nuchas seems to be focusing on making it easier to get their empanadas everywhere. They are working on getting their empanadas into more stadiums, arenas, and other places where lots of people gather.
Imagine grabbing a tasty Nuchas empanada while watching your favorite team play! They also want to sell their empanadas to more businesses, so you might see them pop up in your local grocery store or at your office cafeteria.
2. New Product Development?
While Nuchas is known for their amazing empanadas, they might decide to offer other foods in the future.
Perhaps they’ll create new empanada fillings or even branch out into other Argentinian treats. This could help them attract even more customers and keep things interesting for their current fans.
FAQs
Where can I find Nuchas empanadas?
You can find Nuchas empanadas at their retail locations in New York City, or order them online for nationwide delivery through their website. They are also available through wholesale partnerships with various businesses, including stadiums, arenas, and meal delivery services.
What flavors of empanadas does Nuchas offer?
Nuchas offers a variety of both savory and sweet empanadas, with fillings like beef, chicken, pork, and vegetables. They also have vegetarian and vegan options.
Does Nuchas offer franchise opportunities?
While Nuchas previously offered franchises, they have shifted their focus to wholesale distribution.
How did Nuchas overcome the challenges of the COVID-19 pandemic?
Nuchas adapted to the challenges of the pandemic by focusing on online sales and deliveries, as well as expanding their wholesale partnerships.
What is the estimated annual revenue of Nuchas?
Nuchas is estimated to generate around $6 million in annual revenue.
The Bottom Line
Nuchas is a great example of a business that found success even without securing a deal on Shark Tank. By focusing on quality ingredients, delicious flavors, and strategic partnerships, they have grown into a thriving company with a bright future. Whether you’re a fan of empanadas already or just curious to try something new, Nuchas is definitely a brand to watch (and taste!).
