In Shark Tank Season 12 Episode 6, the sawdust briquette charcoal product Prime 6 was unveiled. Riki Franco and Oren Franco, the co-founders of Prime 6, appeared on the Shark Tank program and requested $200,000 at a $2 million valuation in exchange for 10% of their company’s stock.
Prime 6, a premium sustainable charcoal. According to some facts about this product, food has been grilled for many years. Older people claim that any disease that might be present in it is eradicated by burning food to stay alive.
Since many people use grills for cooking their meals on trips or in picnics, grilling has become very popular.
People grill food like fish, chicken, vegetables, etc., and term it fun since the flavor is still fresh.
People used charcoal for grilling in the past, but now they primarily utilize electronic grilling equipment.
The test used for natural grilling differs from the one used for electronic grilling. Many think using charcoal for grilling can contaminate food because part of the charcoal may go into the food.
Prime 6 has introduced Eco-Friendly, Reusable Sawdust Briquettes Charcoal to address this issue with charcoal. This environmentally friendly charcoal is produced from entirely safe hardwood sawdust.
Although the market for barbecue grills is huge and favorable for this product, many other companies could have produced a similar item.
What Is Prime 6?
A sustainable hardwood charcoal briquettes manufacturer with its headquarters in New York City is called Prime 6. This business was founded in 2018, and it uses Planet Wood charcoal, according to LinkedIn.
Compressing the hardwood sawdust results in uniformly shaped charcoal that has been slowly carbonized.
Its hexagonal shape promotes improved air circulation, enabling more consistent cooking. It produces nearly no ash and burns longer and hotter than other charcoals.
Any size and form that is suitable for barbecues can be created from this charcoal. This applies to some grills, such as the Green Egg and Kamado Joe, as well as smokers and pizza ovens.
This prime six charcoal has a long shelf life and can be used seven times.
The smoke there gives the grilled food a fantastic flavor that is also quite good. However, if the chemicals and bonding agents used to make the charcoal are toxic, the smoke that results from burning can contaminate food.
Prime 6 Charcoal’s lighting arrives in 10 to 20 minutes, is highly dense, and lasts for more than an hour.
It is constructed entirely of natural wood; it contains no artificial additives, smoke, or sparks. This sawdust briquette charcoal is only meant to be used outside; it cannot be used inside.
Update On Prime 6 Shark Tank
|Company Name||Prime 6|
|Founder||Riki Franco and Oren Franco|
|Product||eco-friendly, reusable, sawdust briquettes|
|Asked For||$200,000 for 10% Equity|
|Final Deal||$200,000 for 25% Equity|
|Episode (Shark Tank USA)||Season 12, Episode 6|
|Air Date||November 20, 2020|
|Business Status||In Business|
|Net Worth||$2 Million *estimated|
Prime 6 Contact Details
|Place||New York, United States|
How Did Prime 6 Get Its Start? – Riki Franco and Oren Franco Fish Tank
Riki Franco is the co-founder and CEO of the Prime 6 company, and Oron Franco is the COO. Both of them are married.
IDC Hetzalia in Israel awarded Riki Franco a Bachelor of Arts in Finance, and Columbia Southern University awarded her a Master of Business and International Management in 2012.
She had previously held positions as a finance officer in Mexico and the vicinity of New York City. She currently serves as a mentor at the Entrepreneurs Roundtable Accelerator, German Accelerator Tech, and New York Base NUMA New York.
The International Culinary Center in New York City is where Oron Franco completed his culinary arts diploma program.
He is also a professional chef and has been The Private Chef NYC’s director of operations for over six years.
Before Shark Tank, The Top 6
Western Beef stated in May 2019 that it had agreed to serve as its sole partner for Prime 6 Sawdust Briquette Charcoal.
“New York City’s BBQ Headquarters” was where it all began. His business partner, Western Beef, intended to offer Prime 6 charcoal on the Instacart website.
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In addition, Las Vegas, Nevada-based Chef’s Choice and Baldour’s Two Foods Provider supply Prime 6.
Additionally, Prime 6 is selling the item on well-known websites like Walmart and Lowes.
Some chefs, notably those from the Union Square Hospitality Group, Manhatta, and Star Restaurant Group use this Prime 6.
According to Francos, she will donate 2 to 3 plants for each pack of charcoal that is sold.
Was a Deal Made with Prime 6 on Shark Tank?
Riki Franco and Oren Franco, the co-founders of Prime6, approached Shark and requested $200,000 in exchange for 10% of his company’s shares.
Shark loved how Riki had presented her product in a novel way. She covered every aspect of her invention in this demo so that he could quickly secure finance.
At a suggested retail price of $18.99, Riki said in Shark Tank that her product cost 9 pounds. Nine pounds of that weighs the same as 30 pounds of regular charcoal.
There is a sizable profit in it, considering that the cost of production is $3.39. Walmart is selling its 22-pound pack for $26.64.
Their 9-pound may be purchased for between $10.99 and $12.99.
After they were introduced, they made $30,000 in sales in the first year. She had sold goods in the food industry, retail, online, etc.
Kevin O’Leary offered his proposal. He said he would aid the direct in entering the consumer route in exchange for his $200,000 offer for 25%.
Said Lori Greiner. She thinks she might have a conflict of interest. She turned down the offer.
According to Mark Cuban, the deal is excellent and very exciting, but he cannot enter it because of his agreement with Instafire.
According to Blake Mycoskie, if something does not excite him, he is no longer interested in it.
As a professional griller, Daymond John claims to match Kevin’s offer of $200,000 for 25%.
Franco, the company’s creator, ultimately chose Kevin’s offer of $200,000 for 25% interest.
What transpired with Prime 6 following Shark Tank?
The company experienced a significant improvement in its sales following the $800k valuation agreement in the Prime 6, and it also signed contracts with other dining services.
Due to the high demand for this charcoal product, it is now widely accessible on several platforms, and many people have purchased it for grilling.
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Before appearing on Shark Tank, he distributed only a few food services. Still, since then, he has expanded to become a distributor for several other food companies, including Us Foods, Sysco, Wismettac, Baldor, Chees Choice, Fortune Fish & Gourmet, and PFG.
Numerous brick-and-mortar and online retailers, such as Dierbergs, Walmart, UNFI, Lowe’s, Kroger, The Fresh Market, Piggly Wiggly, Safeway, Woodman’s Markets, Alberstons, and FoodFCity, carry it.
There is now little information available regarding its earnings, but after a year from Shark Tank, it would have sold millions of dollars.
Where is Prime 6 available?
You may get this Prime 6 Charcoal from Walmart, Amazon, or the company’s website.
These include UNFI, Lowe’s, Kroger, The Fresh Market, Piggly Wiggly, Safeway, etc. This is also offered on several retail platforms.
What’s the net worth of Prime 6?
This company was valued at $2 million when Prime 6 demanded funds from Shark Tank, but after the agreement with Kevin, the price dropped to $800,000.
According to the Shark Tank founder, this business is thriving and has no liabilities. This Prime 6 member’s current net worth is thought to be $2 million.
Does Prime 6 still operate?
Yes, Prime 6 is still operating domestically and internationally; they sell their charcoal. Consumers often purchase it for grilling.
Although it manufactures its medicine in the US, the Covid19 epidemic has significantly reduced its sales.
The Prime 6 is now recovering slowly, but it might be able to conduct international distribution in the near future.
Prime 6 Contact Details
|Place||New York, United States|