EveryTable is a chain of healthy fast-food restaurants that appeared on Season 9 of Shark Tank. Sam Polk and David Foster founded the company to make nutritious and affordable meals more accessible, particularly in “food deserts,” where healthy food options are scarce.
EveryTable’s unique selling proposition comes from its novel business model. It uses commissary kitchens and small storefronts, allowing them to price meals according to the affluence of their restaurants’ neighborhoods.
This means meals are more affordable in lower-income areas, ensuring access to healthy food regardless of socio-economic status. The company operates a grab-and-go concept where customers can buy ready-made meals prepared by professional chefs.
These meals, including kale chicken Caesar salads, vegan miso grain bowls, and Jamaican chicken with coconut and beans, are considerably healthier than traditional fast food options. Customers can either take these meals home or heat them at the store.
EveryTable appeared on Shark Tank in 2018, where the founders presented their mission to make healthy food accessible to all. They sought an investment of $1 million for a 5% stake in their company.
EveryTable concept attracted the attention of the Sharks, and they secured a deal with Rohan for $1 million in exchange for a 10% stake in the company.
Following the show, EveryTable has seen significant success, raising substantial funds through a crowdfunding campaign and attracting notable investors. Its mission, business model, and the quality of its product make it a good choice for consumers seeking affordable, nutritious meals.
The company’s social enterprise model, which addresses food inequality, also makes it a desirable choice for ethically-minded consumers. EveryTable’s impressive growth and expansion plans indicate a promising future for this groundbreaking business.
|Founder||Sam Polk and David Foster|
|Business||Foods that are fresh and healthy at a fast-food price|
|Investment Seeking||$1,000,000 for 5% equity in EveryTable|
|Final Deal||$1,000,000 for 10% equity in EveryTable|
|EveryTable Episode||Season 9, Episode 21|
|EveryTable Business Status||In Business|
|EveryTable Website||Visit Website|
|EveryTable Net Worth||$25 Million|
What Is EveryTable?
EveryTable is a food service company that aims to provide healthy, affordable, and convenient meals to individuals and communities. They operate on the principle that nutritious food should be accessible to everyone, regardless of income or location.
EveryTable offers various freshly prepared meals catering to different dietary preferences and restrictions. Their menu includes options for vegetarians, vegans, and individuals with gluten or dairy allergies.
The company uses high-quality ingredients and creates satisfying, nourishing, flavorful dishes. EveryTable’s pricing model is unique. They use a sliding-scale pricing system based on the average income of the community they serve.
It allows them to offer lower prices in lower-income areas, making their meals more affordable and accessible to a wider range. They believe everyone deserves access to nutritious food, and their pricing model reflects this commitment.
In addition to their physical locations, EveryTable also offers meal subscriptions and delivery services, making it even more convenient for customers to access their meals.
They have partnered with local farmers and suppliers to source fresh ingredients, supporting local communities and promoting sustainability.
EveryTable is committed to addressing food insecurity and food deserts, areas without easy access to fresh and healthy food options. They strategically open their locations in underserved communities, providing an alternative to fast food chains and grocery stores with limited healthy options. This approach helps improve these communities’ overall health and well-being by increasing access to nutritious meals.
EveryTable is a food service company that prioritizes accessibility, affordability, and nutrition. Through their pricing model and commitment to serving underserved communities, they are working towards making healthy food options available to everyone.
Who Is The Founder Of EveryTable?
EveryTable is a health-conscious fast-food chain co-founded by Sam Polk and David Foster. Sam Polk has an interesting background, having worked up to a senior trader position by age thirty.
However, after the financial crash of 2008-09, Polk reassessed his life and shifted his vision of success. He left his job to start a non-profit organization called Groceryships, which aimed to assist those living in food deserts — regions where access to fresh and healthy food is limited or non-existent.
Through Groceryships, he met David Foster, and the two began envisioning a new enterprise. The inspiration for EveryTable came from the challenges individuals and families face living in these food deserts.
Many parents involved in the Groceryships program revealed that their hectic schedules often forced them to rely on unhealthy fast food options. Witnessing this struggle, Polk and Foster saw an opportunity to create an affordable yet healthy alternative.
They left their day jobs and started working on a new business model that could provide healthy, made-from-scratch meals priced according to the affluence of their restaurants’ neighborhoods. This approach aimed to make nutritious food accessible to everyone, regardless of income level.
In 2015, they opened their first EveryTable location in Southern LA, the same area where Groceryships operated. Their business concept was unlike traditional restaurants.
They created a system where customers could walk in and purchase ready-to-go meals prepared by professional chefs. The meals offered a healthier alternative to traditional fast food; customers could take them home or heat them in-store.
EveryTable’s unique business model and social mission attracted considerable attention. The company experienced more success than anticipated, allowing it to open a second location in downtown LA within a year.
It wasn’t long before EveryTable caught the eye of the producers of ABC’s hit show, Shark Tank. The co-founders were invited to pitch their concept on the show, leading to increased exposure and a significant investment offer, setting the stage for the next chapter in EveryTable’s journey.
How Was The Shark Tank Pitch Of EveryTable?
The Shark Tank pitch of EveryTable was both promising and challenging due to the ambitious valuation the founders set for their company. Founders Sam Polk and David Foster were seeking a substantial $1 million investment for a 5% equity stake in their company, implying a company valuation of $20 million.
They presented their unique business model, showcasing their vision to provide a cheap, nutritious alternative to fast food that was accessible to everyone, irrespective of income.
The high valuation initially took aback the sharks. Guest shark Rohan Oza was among those who expressed reservations about the lofty valuation, along with some of the other sharks.
Barbara Corcoran and Lori Greiner couldn’t reconcile the valuation with the company’s current state and chose to step out without making an offer.
Despite the concerns, Rohan Oza was intrigued by the business concept and the founders’ vision. He recognized the potential for EveryTable to impact the healthy food industry significantly. However, he couldn’t accept the $20 million valuation and started negotiating for a larger equity share.
After some negotiation, Rohan and the founders agreed on a deal. They settled on an investment of $1 million in exchange for a 10% equity stake in EveryTable. The deal reduced the company’s valuation to $10 million.
In summary, the pitch successfully secured an investment offer despite the initial resistance due to the high valuation. The deal demonstrated the sharks’ belief in the potential of EveryTable’s unique business model and its mission to provide healthy food options to all communities.
What Happened To EveryTable After Shark Tank?
After appearing on Shark Tank, EveryTable continued to grow and evolve, even though the deal with Rohan Oza ultimately did not close. Founders Sam Polk and David Foster successfully expanded the company despite the setback.
In the time since their appearance on Shark Tank, they grew EveryTable into a thriving business with an estimated $19 million in annual revenue. They focused on providing fresh, affordable, and nutritious meals as a healthy alternative to fast food.
The brand’s commitment to ensuring healthy food is accessible to everyone remained a significant part of its business model. This, combined with their publicity and exposure from appearing on Shark Tank, likely contributed to their continued success and growth.
While details on the exact reasons for the deal with Rohan Oza not closing are not provided, it is not uncommon for Shark Tank deals to change or even dissolve after the show due to the due diligence process, change in circumstances, or differences in business philosophies.
Despite the lack of investment from the Shark Tank panel, the experience on the show and subsequent growth of EveryTable demonstrates that a strong vision, unique business model, and the ability to adapt and overcome challenges can still lead to success.
EveryTable Shark Tank Update
EveryTable, founded by Sam Polk and David Foster, continued its journey after Shark Tank with notable growth and impact. While the deal with Rohan Oza wasn’t finalized, the company expanded its presence significantly.
EveryTable achieved a remarkable growth of 200% in 2021, reaching an estimated revenue of $19 million. Despite the challenges posed by COVID-19, EveryTable secured around $32.3 million from 15 investors through 7 funding rounds.
EveryTable’s model features a diverse menu of over 28 healthy options at affordable prices, with pricing adapted based on different zip codes. From a single location, EveryTable expanded to 11 in 2020, aiming for substantial growth to 30 locations.
EveryTable unique central kitchen model allowed for competitive pricing, and their community service extended to various sectors, including business, education, healthcare, and government, providing meals to the homeless and remote students.
In essence, EveryTable thrives in providing nutritious and diverse food options online and in physical stores, reflecting its mission to address food inequality and accessibility challenges.
Is EveryTable Still In Business?
Our research shows that EveryTable is still in business and has continued to thrive. As of the provided information, EveryTable has expanded its presence significantly. In 2022, they launched 40 stores, and they have plans to triple their footprint by opening 10 new Los Angeles outlets by the end of the year.
Additionally, they aim to establish 75 more stores in 2023. The company’s “Pay It Forward” campaign enables customers to purchase meals for those in need, addressing community challenges like food insecurity.
EveryTable has garnered recognition for its efforts, being recognized as a top 10 dining company by Fast Company. They have also secured substantial funding, with a Series C-2 financing round of $25 million and a later Series C round of $55 million.
These investments have been led by various impact investors and venture firms, supporting EveryTable’s mission of providing accessible and affordable nutritious food across regions and channels.
What Is the Net Worth Of EveryTable?
According to our research, the net worth of EveryTable is estimated to be $25 million. The valuation of EveryTable was $10 million after securing an investment from Rohan Oza on Shark Tank.
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