About Three Jerks Jerky
Three Jerks Jerky uses only the best meat using Filet Mignon to produce their jerky. Jordan and Daniel pitch their tasty beef jerky in Shark Tank Season 7. They are asking $100,000 for 15% equity.
Jordan and Daniel have $350,000 Three Jerks Jerky sales in the previous twelve months and sells for $11.99, with their best store selling it for $17.99. The cost to make is $3.99. They don't want to reduce their price because they are a premium jerky.
Three Jerks Jerky uses a co-packer, but Three Jerks Jerky needs to buy in larger quantity. They also need to get into national stores.
When they first started their company they had three partners, but they whacked the guy represented by the chicken in their logo.
Three Jerks Jerky Episode Data
- Company: Three Jerks Jerky – Website
- Entrepreneurs: Jordan Barrocas and Daniel Fogelson
- Ask: $100,000 for 15% equity
- Episode Season 7 Episode 705
- Companies in this episode:
- Three Jerks Jerky
- Switch Witch
- The Skinny Mirror
- xCraft
- Bantam Bagels – Featured Update
- Sharks:
- Mark Cuban
- Daymond John
- Kevin O'Leary
- Lori Greiner
- Robert Herjavec
- First Aired: 04/10/2014
- Deal: Daymond John $100,000 for 15% equity and an option for another $100,000 for 15%
What do the Shark Tank Investors say about Three Jerks Jerky?
- Mark Cuban – loves their beef jerky, and he loves beef jerky. His problem with the deal is the jerky market is brutally competitive, and he is not willing to take that journey. He is out.
- Daymond John – calls himself a Jerkologist. His mother used to say that you can never have too much hot sauce or beef jerky in the house. He offers $100,000 for 20%. Daymond John drops to 17.5%, but they want to know if that is enough to keep it interesting. Daymond improves his deal to $100,000 for 15%, and will offer another $100,000 for an extra 15% if they need the money. They ask Daymond to partner with another Shark.
- Kevin O'Leary – Likes Jordan and Daniel offering $100,000 for 33.3%. He agrees the valuation is reasonable, but he is worth the extra equity. Kevin thinks he is worth more than the average Shark. He will put up $125,000 for 33.3% Kevin bumps to $150,000 for 33.3%
- Lori Greiner – makes it interesting, she is going to offer $100,000 for 20%
- Robert Herjavec – thinks they have done a lot of things well, and he loves beef jerky. He offers $100,000 for 20% equity. Robert tells Jordan he will go in with Lori giving them $100,000 for 15% with an option for another 15% for $100,000.
Three Jerks Jerky after Shark Tank
Sales spiked for the Beef Jerky company after the Shark Tank pitch appeared on ABC. They sold $250,000 on the night of their episode. Daymond John closed the deal, and connected them with Rastelli Foods Group to package the beef jerky recipe. The deal further allowed them to expand the amount of stores they are in adding thousands of locations, and sales in the millions.