Pork Barrel BBQ
DEAL
EPISODE SUMMARY
🕓 Air Date: September 13, 2009
Asking For:
$50,000 for 10%
Investor:
Barbara Corcoran
Deal:
$50,000 for 50%
PRODUCT SUMMARY
Pork Barrel BBQ offers all-American barbecue sauce and spice rubs, aiming to bring monumental flavor to the entire nation.
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Background Story
Pork Barrel BBQ, headquartered in Washington, D.C., was born out of a unique blend of political insight and culinary passion. Co-founders Brett Thompson and Heath Hall, both conservatives with backgrounds in politics, shared a vision to redirect what they perceived as wasteful government spending towards a more productive and tangible endeavor. Drawing inspiration from their political backgrounds and a shared love for barbecue, Thompson and Hall sought to create a business that epitomized the American Dream while offering a delicious product that transcended political boundaries.
Thompson, a lobbyist on K Street, brought his expertise in navigating Washington’s political landscape to the table. With a keen understanding of government spending and policymaking, he recognized the potential to repurpose funds from “useless pork barrel spending” into a venture that would create jobs and contribute to the economy. Hall, with a background in advocacy and a passion for barbecue, shared Thompson’s entrepreneurial spirit. Together, they saw an opportunity to leverage their skills and resources to build a successful barbecue sauce and spice rub company.
Their journey began in Missouri, known as the Show-Me State, where Thompson and Hall honed their appreciation for authentic barbecue flavors. Drawing from their personal experiences and the vibrant barbecue culture of their home state, they developed recipes for their signature all-American spice rub and barbecue sauce. Their shared love for barbecue and their commitment to the American Dream fueled their determination to launch Pork Barrel BBQ, setting them on a path to success in the competitive world of barbecue sauces and rubs.
The Product
Pork Barrel BBQ offers a range of products centered around their all-American barbecue sauce and spice rub. Their barbecue sauce is a rich and flavorful blend crafted from high-quality ingredients, perfect for slathering on ribs, pulled pork, chicken, and more. It boasts a balance of sweet and tangy flavors that complement a variety of dishes, making it a versatile addition to any barbecue spread.
The all-American spice rub is a meticulously crafted blend of natural herbs and spices, carefully selected to enhance the flavor of meats and vegetables. Its balanced combination of savory and aromatic ingredients creates a mouthwatering seasoning that elevates the taste of grilled, smoked, or roasted foods.
Both the barbecue sauce and spice rub embody the essence of American barbecue traditions, offering consumers a taste of authentic flavors with every bite. Available for purchase online through the Pork Barrel BBQ website, as well as in select grocery stores and retailers nationwide, these products are accessible to barbecue enthusiasts and home cooks alike.
Priced competitively, the barbecue sauce and spice rub offer exceptional value for their quality, making them an attractive option for anyone looking to elevate their barbecue experience without breaking the bank.
How It Went
The company’s position before Shark Tank
Pork Barrel BBQ has positioned itself as a promising player in the barbecue sauce and spice rub market, leveraging its unique brand identity and quality products to drive growth and expansion. With a focus on strategic partnerships and effective marketing, the company has established itself as a reputable brand in the industry. Partnering with major grocery store chains and retailers nationwide, Pork Barrel BBQ has secured widespread distribution for its products, reaching a broad customer base of barbecue enthusiasts, home cooks, and food lovers.
The company’s commitment to quality and authenticity has earned it a loyal following, with positive feedback from competitive barbecue teams, veteran chefs, and home cooks alike. In terms of funding, Pork Barrel BBQ has utilized a combination of personal investment and external capital to fuel its operations and growth initiatives. While the founders initially invested their own funds into the business, they have also secured additional funding through strategic partnerships and investor support. With a focus on profitability and sustainable growth, Pork Barrel BBQ closely monitors its financial performance, aiming to maximize profits while minimizing expenses.
By maintaining a lean and efficient operation, the company has achieved positive financial results, with steady revenue growth and healthy profit margins. As the company continues to expand its product offerings and market reach, it remains committed to its core values of quality, authenticity, and innovation. With a dedicated team of professionals overseeing operations, marketing, and product development, Pork Barrel BBQ is well-positioned to capitalize on opportunities in the competitive barbecue industry and achieve long-term success.
The Negotiations:
During the negotiations on Shark Tank, Brett Thompson and Heath Hall of Pork Barrel BBQ sought a $50,000 investment for a 10% stake in their company. While they showcased their product’s quality and potential, Sharks expressed concerns about valuation, distribution, and the founders’ commitment.Barbara Corcoran made the only offer, proposing $50,000 for a 50% stake. Although this represented a significant equity share, Corcoran believed in the product’s potential and saw an opportunity to leverage her expertise and resources to drive growth.
Thompson and Hall accepted Corcoran’s offer, securing a deal that would provide the necessary capital for expansion while also benefiting from Corcoran’s mentorship and connections. Other Sharks, including Kevin O’Leary and Mark Cuban, expressed doubts about the company’s valuation and the founders’ commitment, ultimately opting not to invest. Despite facing skepticism, Thompson and Hall remained steadfast in their belief in Pork Barrel BBQ’s potential, ultimately securing a deal that would propel their company forward.
