Bubba-Q BBQ
DEAL
EPISODE SUMMARY
🕓 Air Date: December 6, 2013
Asking For:
$300,000 for 15%
Investor:
Daymond John
Deal:
$300,000 for 30%
PRODUCT SUMMARY
De-Boned Baby Back Rib Steaks are boneless ribs allowing for a cleaner, more convenient eating experience.
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Background Story
Al “Bubba” Baker, a former NFL player, resides in Avon, Ohio, with his wife Sabrina and their three children. After a successful 13-year career in the NFL, where he earned accolades such as Rookie of the Year and All-Pro status, Bubba transitioned from football to pursue his true passion: barbecue. His journey into the world of barbecue began when he opened his own barbecue restaurant, where he honed his skills and experimented with recipes.
However, Bubba faced a challenge at home – his wife Sabrina didn’t enjoy ribs due to the mess they created. Determined to find a solution, Bubba embarked on a quest to make ribs less messy while retaining their delicious flavor. This quest led to the invention of the De-Boned Baby Back Rib Steaks, an innovative product that allows consumers to enjoy ribs with a knife and fork, eliminating the mess associated with traditional ribs.
The idea for the product emerged after two decades of experimentation and refinement, during which Bubba developed a patented process to remove bones from fully cooked ribs while preserving the integrity of the meat. Bubba’s daughter, Brittani, became involved in the business, providing valuable insight and support. Together, they embarked on a mission to revolutionize the barbecue industry with their unique and convenient product. Based in Avon, Ohio, Bubba and his family have poured their hearts and souls into turning their barbecue passion into a successful business venture.
The Product
The De-Boned Baby Back Rib Steaks offer a convenient and mess-free way to enjoy the delicious flavor of ribs. These boneless ribs are fully cooked and ready to heat and serve, making them ideal for busy individuals or families looking for a quick and tasty meal option.
Using a patented process developed by founder Al “Bubba” Baker, the ribs are cooked with the bones intact before being carefully deboned while maintaining the integrity of the meat. This unique process ensures that each rib steak retains its flavor and tenderness, providing a dining experience comparable to traditional ribs without the hassle of dealing with bones.
The product appeals to a wide range of consumers, including barbecue enthusiasts, busy professionals, and families looking for a convenient meal solution. Whether enjoyed as a standalone dish or paired with sides, the De-Boned Baby Back Rib Steaks offer a flavorful and satisfying dining experience.
Customers can purchase the De-Boned Baby Back Rib Steaks from select stores where they are available. The pricing may vary depending on location and retailer, but the product offers excellent value for its quality and convenience. With its innovative approach to barbecue, the De-Boned Baby Back Rib Steaks are poised to become a staple in households across the country.
How It Went
The company’s position before Shark Tank
The De-Boned Baby Back Rib Steaks company has shown promising growth and potential in the competitive food industry. With sales reaching $154,000 over a one-year period and distribution in approximately 48 stores, the company has demonstrated early traction in the market. While still in the early stages, the company’s innovative product and strategic partnerships position it for future success. One of the key partners in the company is founder Al “Bubba” Baker, whose background as a former NFL player brings unique insight and passion to the business.
Additionally, Bubba’s daughter, Brittani, plays a significant role in the company, bringing a personal touch and dedication to the product’s success. The company’s distribution channels primarily consist of wholesalers and select stores where the De-Boned Baby Back Rib Steaks are available for purchase. These wholesalers play a crucial role in expanding the product’s reach and accessibility to consumers. In terms of funding, the company secured a deal with Daymond John on the TV show “Shark Tank,” where John offered $300,000 contingent on a licensing deal with a large meat processor for 49% of the company.
This funding injection provides the company with the necessary capital to further develop its product, expand distribution channels, and invest in marketing efforts to drive sales. While the company may have experienced initial challenges, including a period where founder Al briefly quit pursuing the idea, the acceptance of Daymond John’s offer signals a new chapter of growth and opportunity. With a clear business structure and a strong team in place, the company is well-positioned to capitalize on its innovative product and carve out a significant share of the barbecue market.
The Negotiations:
During the negotiations on “Shark Tank,” Al “Bubba” Baker sought $300,000 in exchange for 15% equity in his company, De-Boned Baby Back Rib Steaks. His pitch garnered interest from all five sharks, with Daymond John and Kevin O’Leary making competing offers. Kevin offered $300,000 contingent on a licensing deal with a large meat processor for 49% of the company, while Daymond matched the offer but with a 30% equity stake.
However, Mark Cuban and Robert Herjavec also expressed interest, albeit with different perspectives. Cuban praised the product’s taste and uniqueness but ultimately raised concerns about the company’s valuation and revenue. Herjavec questioned the feasibility of the licensing deal and emphasized the need for the company to increase its size before pursuing such partnerships.
Ultimately, Al accepted Daymond’s offer, citing his track record and expertise in the industry as reasons for his decision. While O’Leary’s offer also provided funding, Al believed John’s connections and vision aligned better with the company’s goals. The negotiations showcased the sharks’ diverse perspectives and highlighted the importance of strategic partnerships in scaling a business. Al’s acceptance of Daymond’s offer marked a significant milestone for De-Boned Baby Back Rib Steaks, positioning the company for future growth and success in the competitive food industry.
