Shark Tank investors can sometimes be full of surprises.
A recent episode of Shark Tank was no exception.
With the myriad of ideas that come through the door on Shark Tank there have been some obviously good investments and some straight-up losers.
On this particular episode of Shark Tank, 23-year-old entrepreneur Evan Lutz, founder and CEO of Hungry Harvest, landed a great deal.
A deal twice the amount that he came to Shark Tank looking for, in fact.
Lutz has built a business around the country’s discarded produce. The produce that gets thrown out from supermarkets because it isn’t pretty enough to sell is bought by companies like Hungry Harvest and sold, at a discount, to those willing to save some money eating produce that isn’t perfect-looking.
In addition to trying to make a profit, Hungry Harvest donates a box of ugly produce to the hungry for every box that is sold.
Hungry Harvest box prices range from $15-$55 and include veggies, fruits, leafy greens and sometimes have some seasonings inside.
Hungry Harvest isn’t doing too bad, sales-wise. In fact, in their first six months, Hungry Harvest made $37,000 in sales.
In the last six months, they’ve had $104,000 in sales and now have over 500 customers currently subscribed.
But, Lutz admitted that they had a $20,000 net loss.
Lutz brought Hungry Harvest to Shark Tank looking for $50,000 for a 5% stake in his company. He left with a $100,000 for 10% equity deal with investor Robert Herjavec.
What do you think? Would you have done like Shark Tank investor Robert Herjavec and invested in Hungry Harvest? It seems like an admiral ambition, right?