Atlas Monroe, a black woman-owned vegan restaurant, serves natural, plant-based food. Vegan food that is bright and very tasty is promised on the website. Atlas Monroe provides everyone, not only vegans, an opportunity to live a better yet enjoyable lifestyle with selections ranging from ribs to fried chicken to filled turkey rolls and veg sides, as well as chocolate cake.
All of the dishes are vegan, thus the cured bacon, for example, is made with rice. The fried chicken is made of wheat protein that has been battered and spiced. Atlas Monroe provides frozen meals to restaurants around the country, although they are mostly an internet business. Here’s the official Atlas Monroe commercial, as well as a review of the company’s products.
Atlas Monroe Quick Facts:
|Net Worth (2022):||$7 million – Estimated|
|Pitch:||Plant-based, vegan fried “chicken”|
|Entrepreneur:||Deborah Torres and Johnathan Torres|
|Asked for:||$500,000 for 10%|
Who Is the Founder of Atlas Monroe?
Deborah Torres is an entrepreneur in the food industry. Deborah and her family became vegan after a fortuitous meeting with a stranger at a grocery store. Deborah soon had her own plant-based fried chicken on the go, and it was a hit.
Atlas Monroe was born after she provided her food as a one-off at a VegFest, won the Best Dish award, and one thing led to another. Torres’ interview can be found here, in which she explains her personal narrative and discusses five key business lessons she learned from her time on Shark Tank.
What Happened During the Pitch?
The Sharks were contacted by Johnathan and Deborah Torres, who asked for $500,000 in exchange for a 10% stake in Deborah’s firm, Atlas Monroe. The Sharks were enthralled by the fried chicken samples provided. However, as appraisals and statistics were flung around, the conversation quickly became heated and muddled.
Watch the misunderstanding that developed during the game when the Sharks questioned Torres about her stats, which led to Kevin O’Leary yelling. Barbara Corcoran said that the company was too new to attract investors. She declined to participate.
The Beginning of The Investment:
Mark Cuban made an offer: a $500,000 line of credit in exchange for a 30% stake in the business. Cuban then invited Rohan Oza to join him inside. They made a joint offer of $1 million for the entire company. They also provided a ten percent royalty on sales to the Torres.
Torres rejected the offers from Cuban and Oza because she saw that the Sharks’ interest demonstrated Atlas Monroe’s worth and promise. She preferred to have complete control of her business. Here’s a link to a podcast with Deborah Torres.
Torres alleged that Shark Tank had misrepresented her and Atlas Monroe by manipulating talks to create a biased narrative after the episode aired. Atlas Monroe has developed its own manufacturing plant in order to improve order-to-ship time.
Torres predicts that after purchasing a multi-million-dollar facility, they would become the world’s largest manufacturer of plant-based deep-fried chicken, with sales exceeding $2 million a year after the Shark Tank episode aired. In 2021, a second site will open.
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