Pan’s Mushroom Jerky is a plant-based product that made a significant impact when it debuted in Season 12 of the television series Shark Tank.
The product offers a healthier, vegetarian alternative to traditional meat-based jerkies, making it a valuable addition to the growing market for plant-based foods.
Pan’s Mushroom Jerky is primarily made from shiitake mushrooms, a nutritious and flavorful variety known for its robust texture. The mushrooms are marinated in a unique blend of spices and seasonings before being dehydrated, imbuing them with a taste and texture similar to traditional beef jerky.
Additionally, the product is free from artificial preservatives and colors, making it a more natural option for health-conscious consumers.
The product’s features extend beyond its main ingredient. Pan’s Mushroom Jerky comes in various flavors, including original, barbecue, zesty Thai, and applewood BBQ, catering to a range of taste preferences. This makes the jerky a nutritious and versatile snack that satisfies many cravings.
Its commitment to health and sustainability sets Pan’s Mushroom Jerky apart and makes it a good choice. The product offers a high-protein, cholesterol-free, and fiber-rich alternative to meat-based jerkies, thus meeting the dietary needs of vegetarians, vegans, and those reducing their meat intake for health reasons.
Furthermore, by using mushrooms as the primary ingredient, the product also caters to environmentally conscious consumers, as the cultivation of mushrooms is generally more sustainable and environmentally friendly than raising livestock for meat.
Pan’s Mushroom Jerky allows consumers to enjoy the flavor and texture of jerky while supporting health and sustainability.
|Company Name||Pan’s Mushroom Jerky|
|Product||Jerky with Shiitake mushrooms that is vegetarian and gluten-free|
|Investment Seeking||$300,000 For a 10% stake in Pan’s Mushroom Jerky|
|Final Deal||$300,000 For an 18% stake in Pan’s Mushroom Jerky|
|Pan’s Mushroom Jerky Episode||Episode 12, Season 6|
|Pan’s Mushroom Jerky Business Status||In Business|
|Pan’s Mushroom Jerky Website||Visit Website|
|Pan’s Mushroom Jerky Net Worth||$2 Million|
What Is Pan’s Mushroom Jerky?
Pan’s Mushroom Jerky is a plant-based snack made from shiitake mushrooms. It is seasoned with various spices and ingredients to create a savory and umami flavor.
The jerky is vegan, gluten-free, and a good source of fiber and protein. It is a popular alternative to traditional meat jerky for those seeking a vegetarian or vegan option.
Pan’s Mushroom Jerky is a brand of mushroom-based jerky that Michael Pan created. It is made using shiitake mushrooms, which are marinated and dehydrated to create a chewy and savory snack. The jerky is seasoned with spices and ingredients to enhance its flavor.
Pan’s Mushroom Jerky is known for its rich umami taste, similar to traditional meat-based jerky. It is available in different flavors, including Original, Zesty Thai, Salt & Pepper, and Applewood BBQ, offering various taste options for consumers.
Pan’s Mushroom Jerky is plant-based and available as a vegan and vegetarian product. It is also gluten-free, making it a suitable snack option for individuals with gluten sensitivities or dietary restrictions.
Additionally, the jerky is low in calories and fat compared to traditional meat jerky while still providing a good source of fiber and protein.
Pan’s Mushroom Jerky has gained popularity as a healthier and more sustainable alternative to meat snacks. It offers a unique and satisfying texture and flavor profile that appeals to mushroom lovers and those seeking plant-based snack options.
Who Is The Founder Of Pan’s Mushroom Jerky?
Michael Pan founded Pan’s Mushroom Jerky. Before establishing his own business, Pan had a diverse background that included roles in the technology sector. His journey into the plant-based food world began unexpectedly during a family trip to Malaysia.
While in Malaysia, he discovered a unique vegetarian snack that his relatives had been making, remarkably similar to the beef jerky he was familiar with. The secret, he found out, was that this jerky was made from mushrooms.
Recognizing the potential of this product, especially in light of the rising interest in plant-based foods, Pan decided to introduce this unique product to the American market.
He worked diligently to perfect the recipe, eventually creating what is now known as Pan’s Mushroom Jerky.
Before appearing on Shark Tank, Pan’s Mushroom Jerky had already made significant strides. The product was sold in various health food stores, gourmet shops, and online platforms.
Pan’s efforts in promoting the product had also started to bear fruit, with a growing customer base and positive feedback. However, the appearance of Shark Tank brought widespread recognition and the potential for rapid expansion.
The exposure offered by the show allowed Pan to introduce his innovative mushroom jerky to a much wider audience and further solidify its place in the plant-based food industry.
How Was The Shark Tank Pitch Of Pan’s Mushroom Jerky?
Michael Pan, the founder of Pan’s Mushroom Jerky, appeared on Shark Tank Season 12 to pitch his mushroom-based jerky product to the sharks.
Michael Pan, the founder of Pan’s Mushroom Jerky, showcased his unique product during their Shark Tank pitch. He explained that his jerky is made from mushrooms, offering a vegetarian and sustainable alternative to traditional meat-based jerky.
The jerky is made from shiitake mushrooms and aims to deliver a delicious umami taste and meaty texture that appeals to both herbivores and carnivores.
Michael was seeking a $300,000 investment in exchange for a 10% equity stake in his business, valuing Pan’s Mushroom Jerky at $3 million.
All of the sharks, including guest shark Blake Mycoskie, Lori Grenier, and Mark Cuban, were impressed by the taste and concept of Pan’s Mushroom Jerky.
Blake and Lori teamed up to make an offer of $300,000 for 30% equity in the company.
Mark Cuban followed with an offer of $300,000 for 25% equity in the company.
Michael countered the offers to negotiate a better deal that would allow him to retain more equity in his company.
After some negotiation, Michael secured a deal with Mark Cuban. He accepted the $300,000 investment in exchange for an 18% equity stake in Pan’s Mushroom Jerky.
Following the episode’s airing, Pan’s Mushroom Jerky experienced a significant boost in sales. Within 24 hours, they sold $650,000 worth of jerky, and a few days later, they reached over $1,000,000 in total sales.
The update also revealed that the company expanded its distribution to include Whole Foods locations in Oregon, Washington, Southern California, Arizona, Nevada, and Hawaii. The product is also available at HEB stores throughout Texas.
Pan’s Mushroom Jerky also introduced new flavors and merchandise to their product line. Customers can purchase the jerky directly from the Pan’s Mushroom Jerky website or through Amazon.
Michael’s appearance on Shark Tank and his deal with Mark Cuban proved to be a turning point for Pan’s Mushroom Jerky, leading to increased sales and expanded distribution opportunities.
Did Pan’s Mushroom Jerky Get a Deal on Shark Tank?
Yes, Pan’s Mushroom Jerky did secure a deal on Shark Tank. Founder Michael Pan appeared on Season 12, Episode 6 of the show, which aired on November 20, 2020.
He pitched his plant-based mushroom jerky to the Sharks, highlighting its nutritional benefits, simple ingredients, and various certifications such as being vegan, kosher, and paleo-friendly.
During the pitch, Michael waited until the Sharks tried the jerky and expressed their liking before revealing that it was made from mushrooms. This surprise twist impressed Shark Lori Greiner even more. Michael sought a $300,000 investment for a 10% equity stake in his company.
Lori joined forces with guest Shark Blake Mycoskie, the founder of TOMS Shoes, to offer the requested investment amount but with a higher equity share of 30%.
Mark Cuban, who had experience in the vegan snack market and a portfolio of successful plant-based companies, also offered $300,000 for a 20% stake.
After some negotiation, Mark lowered his equity share to 18%, while Lori reduced hers to 15%. Ultimately, Michael accepted Mark’s offer despite Lori’s disagreement.
So, in summary, Pan’s Mushroom Jerky did strike a deal on Shark Tank. Mark Cuban invested $300,000 for an 18% stake in the company.
Did Pan’s Mushroom Jerky Get a Deal on Shark Tank?
Yes, Pan’s Mushroom Jerky did get a deal on Shark Tank. In the episode, Michael Pan pitched his vegan beef jerky substitute made from shiitake mushrooms. He was seeking a $300,000 investment for 10% of his business.
Michael shared his story and offered samples to the Sharks. He expressed his desire to become a leading brand in the veggie jerky space.
The Sharks were impressed with the sales numbers and the product itself. Lori Greiner and Blake Mycoskie teamed up to offer $300,000 for 30% equity (15% each), leveraging their relationships with big chains like Starbucks.
Mark Cuban also made an offer of $300,000 for 20% equity. Michael countered with 18%, and ultimately, he accepted Mark’s offer.
After the episode aired, Pan’s Mushroom Jerky experienced significant success. In the week following the original air date, they achieved over $1 million in sales.
However, the company faced some challenges with shipping and fulfillment, causing them to run out of stock on their website and Amazon temporarily.
Despite these challenges, Pan’s Mushroom Jerky continued to grow. They expanded their production facility and saw their sales expand as well. By June 2021, the company had annual revenues of $3 million.
By July 2022, their products were available in over 3500 retail locations, including major chains like Kroger, Walmart, and H-E-B. As of 2023, Pan’s Mushroom Jerky’s annual revenue is estimated to be closer to $5 million.
What Happened To Pan’s Mushroom Jerky After Shark Tank?
After appearing on “Shark Tank,” Pan’s Mushroom Jerky experienced a significant boost in sales and gained substantial attention. During the pitch, founder Michael Pan impressed the Sharks with his vegan mushroom jerky’s taste and nutritional benefits.
Ultimately, he accepted an offer from Mark Cuban, receiving $300,000 for 18% equity in the company.
Following the episode’s airing, Pan’s Mushroom Jerky saw a remarkable surge in sales. Within 24 hours, they sold nearly as much as they had the previous year.
After four days, online sales surpassed $1 million, and they received a staggering 33,000 sales directly attributed to their “Shark Tank” appearance.
The success continued as Pan’s Mushroom Jerky expanded its distribution. It quickly became available in over 800 stores, with plans to expand to over a thousand more locations nationwide.
Today, the brand is sold in over 3,500 stores across the United States, including major retailers like Whole Foods, Sprouts, and Kroger Family Stores.
Pan’s Mushroom Jerky has also diversified its product offerings. They now provide six flavors of mushroom jerky: Original, Zesty Thai, Teriyaki, Salt & Pepper, Applewood BBQ, and Curry.
The company offers online ordering, variety packs, a subscription service, a rewards program, and recipe suggestions on its website.
Additionally, Pan’s maintains an active social media presence with thousands of followers on Facebook, Twitter, and Instagram, where they regularly share discounts, sales, and promotions.
Looking ahead, Pan’s Mushroom Jerky continues to expand and innovate. They have tripled their staff and expanded production to meet growing demand.
The company plans to launch in over 2,000 more stores and recently announced that its products will be available in Costco stores. They have also introduced larger bulk bags, holding four times the amount of their regular-sized bags.
Furthermore, Pan’s Mushroom Jerky shared the exciting news that one of their team members is a contestant on Season 13 of “MasterChef, United Tastes of America.”
James Barfield, known as PTG JLove on the show, represents the West Coast region and adds to the company’s exposure and recognition.
Pan’s Mushroom Jerky’s appearance on “Shark Tank” propelled its success and allowed the brand to thrive in the plant-based snack market.
Pan’s Mushroom Jerky Shark Tank Update
After appearing on Shark Tank, Pan’s Mushroom Jerky experienced a significant boost in its business. Michael Pan secured a deal with investor Mark Cuban, who invested $300,000 for an 18% equity stake in the company.
This partnership proved valuable as Cuban brought his extensive experience working with consumer packaged goods companies.
Following the show, Pan’s Mushroom Jerky quickly gained popularity and saw a surge in sales. Within days of the on-screen debut, the company made approximately $1 million in sales.
The team worked diligently to meet the growing demand and built an effective customer relations team to ensure customer satisfaction.
With Cuban’s guidance and expertise, Pan’s Mushroom Jerky expanded its distribution across the United States.
The product is now available in over 3,500 stores nationwide, including mainstream retailers like Marshalls and Whole Foods. Additionally, customers can purchase the jerky directly from the Pan’s website.
Pan’s Mushroom Jerky offers eight flavors: teriyaki, applewood BBQ, and zesty Thai. The product has gained popularity among vegans and non-vegans due to its unique taste and texture. It is sold in 2.2-ounce packs priced at $8.
The company continues to expand its retail presence, with recent announcements of availability in select Whole Foods locations in the Northeast and H-E-B locations across Texas.
Pan’s Mushroom Jerky has established itself as a successful plant-based snack brand through effective marketing efforts and a growing customer base.
Is Pan’s Mushroom Jerky Still In Business?
Our research shows that Pan’s Mushroom Jerky is still in business. After appearing on “Shark Tank” and securing a deal with investor Mark Cuban, the company experienced significant growth in popularity and sales.
They have expanded their product offerings to include six flavors of mushroom jerky and have increased their production capacity.
Pan’s Mushroom Jerky is now available in over 1,000 stores across the United States and continues to operate out of Portland, Oregon.
What Is the Net Worth Of Pan’s Mushroom Jerky?
According to our research, the net worth of Pan’s Mushroom Jerky is estimated to be $2 million. The valuation of Pan’s Mushroom Jerky was $1.66 million after securing an investment from Mark Cuban on Shark Tank.
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