What is Salted, the company featured on Shark Tank Season 11? Salted is a delivery-first restaurant service that operates a variety of health-conscious virtual restaurant brands out of the same kitchen. They offer diverse menus including cauliflower crust pizzas, vegan-friendly Chinese food, Korean-inspired bowls, and affordable salads.
Summary
- Salted is a delivery-first restaurant service with multiple brands.
- Founder Jeff Applebaum pitched on Shark Tank Season 11 seeking $500,000 for 5% equity.
- He did not secure a deal from any of the Sharks.
- Despite this, Salted is still in business and has expanded to 17 locations.
- Each location generates an annual revenue of $1 million to $2.5 million.
- Salted has raised $10.5 million in funding and plans to expand to 60 locations by the end of 2024.
Salted Shark Tank Update | Shark Tank Season 11
What is Salted?
Salted is a modern food service company that focuses on delivering healthy meals. They operate a variety of virtual restaurant brands, all from the same kitchen.
This means they don’t have traditional restaurants with dining rooms. Instead, they partner with delivery services to bring their food directly to customers.
Salted aims to provide convenient and nutritious options for today’s health-conscious consumer. Their brands offer a range of cuisines, from cauliflower crust pizzas to vegan-friendly Chinese food.
Salted’s Shark Tank Pitch
| Entrepreneur | Jeff Applebaum |
|---|---|
| Business | Delivery-first restaurant service with multiple brands |
| Ask | $500,000 for 5% equity |
| Deal | No deal |
| Sharks | Mark Cuban, Barbara Corcoran, Kevin O’Leary, Lori Greiner, Rohan Oza |
| Season | Season 11 |
| Original Air Date | May 15, 2020 |
| Website | Salted |
| Key Points of Pitch |
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| Why Sharks Declined |
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Salted on Shark Tank Season 11
1. The Pitch and the Sharks’ Response
Jeff Applebaum, the founder of Salted, delivered an energetic pitch on Shark Tank. He highlighted the unique concept of his business and the growing demand for healthy, convenient meals.
He showcased some of Salted’s brands, including CaliFlower (cauliflower crust pizza), Ginger Bird (vegan Chinese food), and Moonbowls (Korean-inspired bowls).
While the Sharks were impressed with the food, they had reservations about the business model. They were particularly concerned that Salted had already gone through three different iterations, with the first two failing.
2. Why the Sharks Said No
Each Shark had their own reasons for declining to invest in Salted:
- Barbara Corcoran was immediately out after learning about the company’s financial losses and previous failures.
- Rohan Oza found the concept “too scary” and was nervous about the founder’s track record.
- Kevin O’Leary thought the valuation was too high and the market was too competitive.
- Mark Cuban didn’t see how Salted stood out from other food delivery services.
- Lori Greiner felt that Jeff was avoiding her and didn’t want to work with someone who didn’t seem to want her help.
Ultimately, the Sharks felt that Salted was too risky an investment, despite its potential.
Salted Update: After Shark Tank
1. Continued Growth and Expansion
Despite not getting a deal on Shark Tank, Salted has continued to grow. They have significantly expanded their operations since appearing on the show.
They now have 17 kitchens across the United States. These kitchens are located in major cities like Los Angeles, San Francisco, Chicago, and New York.
This allows them to reach a large customer base and offer their delivery services to more people.
2. Financial Performance
Salted is doing well financially. Each of their locations brings in an impressive annual revenue between $1 million and $2.5 million.
This shows that their business model is working and that customers enjoy their food. They have also been successful in attracting investors.
They recently raised $10.5 million in funding. This money will help them continue to grow and expand their business.
3. Future Plans
Salted has ambitious plans for the future. They aim to have 60 locations by the end of 2024. This expansion will help them reach even more customers and solidify their position in the food delivery market.
They are also constantly working on improving their menu and adding new brands. They recently rebranded Ginger Birds to Ginger Bowls and now have six brands in total. This gives customers a wide variety of healthy and delicious meals to choose from.
Salted’s continued success after Shark Tank shows that they have a strong business model and a dedicated team. They are a company to watch in the growing food delivery industry.
Salted’s Brands and Menu
Salted isn’t just one restaurant; it’s like a collection of different restaurants all working together under one roof. Each brand has its own unique menu and style of food. Let’s take a closer look at what they offer:
1. CaliFlower
If you love pizza but want a healthier option, CaliFlower is the answer. They make delicious pizzas with a crust made from cauliflower.
This makes their pizzas gluten-free and a good source of vegetables. They have a variety of toppings to choose from, so you can find your perfect pizza.
2. Ginger Bowls
Ginger Bowls offers Asian-inspired dishes that are full of flavor. They focus on fresh ingredients and bold sauces. Their menu includes dishes like Orange Cauliflower, Kung Pao Tofu, and Dan Dan Noodles.
Many of their dishes are vegan-friendly and soy-free, making them a great option for people with dietary restrictions.
3. Moonbowls
Moonbowls is all about healthy and delicious Korean-inspired bowls. These bowls are packed with fresh vegetables, lean proteins, and flavorful sauces.
They are a great option for a quick and nutritious meal. Some of their popular bowls include the Bulgogi Beef Bowl and the Spicy Pork Bowl.
4. $5 Salad Co.
Want a fresh and affordable salad? $5 Salad Co. has you covered. They offer a variety of salads with different toppings and dressings, all for just $5. This makes healthy eating easy and budget-friendly.
5. Other Brands
Besides these popular brands, Salted also operates a few other exciting concepts:
- Lulubowls: This brand offers Hawaiian-inspired bowls with fresh fish, rice, and tropical flavors.
- Thrive Kitchen: This brand focuses on keto-friendly meals that are low in carbohydrates and high in healthy fats.
With so many different brands and menus to choose from, Salted has something for everyone. Whether you’re in the mood for pizza, Asian food, a healthy salad, or something more adventurous, you’re sure to find something delicious.
FAQs
Where is Salted located?
Salted currently operates in several major cities across the U.S., including Los Angeles, San Francisco, Chicago, New York, and more. You can find their kitchens in 17 locations.
How does Salted deliver food?
Salted partners with all the major food delivery platforms. This means you can order your favorite Salted meals through apps like DoorDash, Uber Eats, Grubhub, and Postmates.
Is Salted food healthy?
Salted focuses on providing healthier options. They offer a variety of dishes with fresh ingredients and nutritious choices. Many of their meals are also suitable for specific dietary needs, like gluten-free, vegan, and keto.
Is Salted expensive?
Salted offers a range of prices to fit different budgets. Their $5 Salad Co. brand provides affordable salads, while their other brands offer meals at slightly higher price points, reflecting the quality of ingredients and unique cuisine.
The Bottom Line
Salted is a great example of a business that didn’t let rejection on Shark Tank stop them. Even though they didn’t get a deal, they kept working hard and growing their business. Today, Salted is a successful company with a bright future.
Here are some key takeaways from their story:
- Believe in your idea: Even when faced with setbacks, Salted’s founder continued to believe in his vision.
- Adapt and evolve: Salted went through several changes before finding the right business model.
- Focus on the customer: Salted provides convenient and healthy food options that people want.
Salted’s journey shows that success is possible even without the help of the Sharks. They are a true inspiration for aspiring entrepreneurs.
