Traditional Fisheries Shark Tank Pitch
The lionfish is a damaging fish that is causing economic and ecological problems around the world. Traditional Fisheries is helping to reduce the damage these fish are causing. They are fishing for the venomous fish, and turning them into a tasty treat. Sales so far amount to $12,000 coming into their Shark Tank Pitch.
The Lionfish is the worst invasive fish in the ocean, known as an exotic fish, originally intended for aquariums ended up being dumped into the Atlantic Ocean.
They feast on fish that we love to eat such as Snapper, Grouper, Lobster, Shrimp and Crab. it is the 2nd most populous fish in the Western Atlantic and the Caribbean. Lionfish feast on fish that is crucial to keeping coral reefs alive.
Traditional Fisheries serves Lionfish in the Shark Tank. Mark asked why they call it Lionfish as a delicacy and not coming up with a name that is more appealing The Sharks think it tastes good, tasting like Flounder.
Robert Herjavec is familiar with the Lion Fish, as a beautiful fish from Aquariums and did not know that this fish is so devastating. Daymond says he is going home to butter up Skippy out of his Aquarium.
Lionfish needs to be fished with Spears, making it difficult to scale. The fish is comparable in cost to other delicacies.
Traditional Fisheries has a tremendous market acceptance issue, because if there is no demand, supply does not matter.
Traditional Fisheries Episode Data
- Company: Traditional Fisheries
- Entrepreneur: Gary Groomes & Dave Johnson
- Ask: $225,000 for 25% equity
- Episode Season 4 Episode 420
- Companies in this episode:
- First Aired: 03/28/2013
- Deal: No Deal
What do the Shark Tank Investors say about Traditional Fisheries?
- Mark Cuban – likes the idea behind the business, saying it is a good problem to solve, but doesn't feel it is enough money to solve the problem so, he is out.
- Daymond John – doesn't believe $250,000 is enough money to educate the public on Lionfish. He is out.
- Kevin O'Leary – sees an educational problem and is out.
- Lori Greiner – does not see people looking to eat Lionfish. She is out.
- Robert Herjavec – doesn't see this as a good deal as there is no demand for this fish. He is out.
Traditional Fisheries after Shark Tank
The website is gone, and it looks like fishing for Lionfish is no more as well.