Turbo Trusser Shark Tank Update - Net Worth, Pitch & Deal - Shark Tank Insights (2024)

Dry overcooked poultry was one of the problems many home cooks faced. It could be as simple as cooking a dry chicken or a turkey but they would come out dry. Brian and Kirk from Ohio saw this problem firsthand. They saw that trussing chickens and turkeys with twine was messy and hard to do. So, they created the Turbo Trussler. It was a quick and easy device to keep wings and legs close to the bird’s body for even cooking. This simple tool promised juicier results whether cooking in ovens, grills, smokers, or even air fryers.

The pair asked for $100,000 for a 10% stake in their company. While most Sharks didn’t think it was an investable opportunity, one Shark saw potential. But, did the founders manage to get a deal on Shark Tank? Find out in our Turbo Trussler Shark Tank Update!

Turbo Trusser Net Worth

Brian and Kirk asked for a $100,000 investment in exchange for 10% equity in their company. This meant they valued their company at $1 million. They made a deal with Kevin O’Leary for $100,000 in exchange for 33% of their company, plus a $1 royalty per unit sold in perpetuity. This new deal valued their company at approximately $303,030. After the show aired, Turbo Trusser saw a big increase in website traffic, sales, and social media exposure. With an estimated 10% yearly growth rate (typical business growth), the current net worth of Turbo Trusser is about $454,545.

Turbo Trusser Shark Tank Update

What Happened To Turbo Trusser After Shark Tank?

After the show ended, their website started receiving a flood of orders. Before Shark Tank, they had $90,000 in lifetime sales. But, they ended that year with $290,000 in sales. The popularity of the product saw a lot of counterfeit products in the market as well. This resulted in a loss of almost $300,000. But, with the help of the IACC (International AntiCounterfeiting Coalition), they managed to control the damage. One of the founders keeps an eye out for any counterfeit products on Amazon and reports them from time to time.

Did Turbo Trusser Get a Deal On Shark Tank?

Turbo Trusser did get a deal on Shark Tank, but it wasn’t an easy catch. Most of the Sharks swam away, thinking the business was too small to invest in. Robert, Barbara, Lori, and Mark all said no, believing they couldn’t make enough money from it. But Kevin O’Leary was the only Shark who made them an offer. It was $100,000 for a 33% stake in the company, plus a $1 royalty for each unit sold in perpetuity.

The inventors, Brian and Kirk, tried to negotiate better terms. They went back and forth with Kevin, hoping to keep more of their company. In the end, they decided to take Kevin’s original offer. They felt that having “Chef Wonderful” as a partner was worth the high price. So, despite the tough terms, Turbo Trusser left the Tank with a deal. It wasn’t what they first wanted, but they were happy to have a Shark on their team to help grow their business.

Founders Backstory

Brian and Kirk came from different backgrounds before teaming up. Brian worked in the pharmaceutical industry for 18 years. He gained experience with some of the biggest companies in the field. Kirk, on the other hand, started as a chef. He went to culinary school in the early 1990s. He also worked as a sous chef in large banquet kitchens and country clubs. But, he got tired of the cooking life and switched to contracting, which he did for 20 years.

Before the Turbo Trusser, they came up with six other products – four for barbecuing and two for pets. Kirk had also invented a wrench with over 800 positions, which he got patents for and licensed out. Even though none of their earlier inventions made money, they kept at it. Their persistence paid off when they created the Turbo Trusser, which solved a common cooking problem. They had sold 11,000 units at the time of their Shark Tank appearance.

Initial Pitch

Brian and Kirk appeared on Shark Tank to pitch their product, the Turbo Trussler. They asked for $100,000 in exchange for a 10% stake in their company. It was a device that helped cook truss chickens and turkeys easily. They even invited Kevin O’Leary, nicknamed “Chef Wonderful,” to come up and try out the product himself.

The founders showed how the Turbo Trussler worked by demonstrating it on a chicken. They also provided samples of cooked chicken for the Sharks to taste. It was made of food-grade stainless steel, was dishwasher safe, and was manufactured in the United States. The entrepreneurs shared that they’d sold about 11,000 units with only one return.

Queries About the Product

Barbara Corcoran asked if the delicious taste was due to the Turbo Trussler or the cooking method. The founders confidently said that the Turbo Trussler was the key to cooking the chicken evenly. They explained that trussing allowed the chicken to cook as one piece instead of five. It resulted in more evenly cooked for the chicken.

Robert Herjavec admitted he didn’t cook much. He wondered if trussing was a common practice. The founders replied that while many people did truss their poultry, they often found it intimidating when using traditional twine. They pointed out that tying up a chicken with twine usually required watching online tutorials, which was time-consuming. Robert asked if the founders had made money from their previous inventions. They honestly answered that they hadn’t earned a dime, but they kept inventing anyway.

Kevin O’Leary asked about the product’s production costs and sales figures. The founders told Kevin that each Turbo Trussler cost $3.07 to make and it sold for $14.99. They’d been in business for eight and a half months and had already reached $90,000 in lifetime sales. The entrepreneurs also shared their sales breakdowns. Sixty percent of their sales came from their website, while 27 percent were through distributors. They had partnerships with three distributors and were already in 75 stores.

Shark’s Response and Final Deal

Robert liked the product but felt the business wasn’t big enough for him. He was the first to drop out. Barbara asked how she could make money from such a small business. The founders tried to convince her by mentioning the huge market for turkeys during holidays. Mark Cuban couldn’t see how the product could reach all those turkey and chicken consumers. He didn’t think it could grow big enough, so he dropped out.

Lori Greiner also felt the business was too small and confessed she didn’t like touching raw chicken. She followed Mark’s lead and declined to invest. Barbara agreed about the size of the business. She didn’t see how an investor could make money, so she too dropped out. Kevin then pitched himself as “Chef Wonderful,” suggesting that he could increase their sales. But, he made it clear his help wouldn’t come cheap. He offered $100,000 for 33% of the company, plus a $1 royalty on every unit sold forever.

The founders tried to negotiate, first offering 20% equity, then 25%. They even asked if Kevin would drop the royalty for 33% equity. But, rejected their offers, and reminded them of his success with other kitchen products like the Bertello Pizza Oven. The founders soon realized this was their only offer. Despite the high equity stake and ongoing royalty, they decided to accept Kevin’s deal. They left Shark Tank with Kevin O’Leary as their investor.

Product Availability

Turbo Trusser can be found on their official website, Amazon, Walmart, and many other stores. So far, they’ve only released Chicken and Turkey trussers. But, their website now contains recipes as well for those two meats.

Conclusion

The founders were hoping to get $100,000 for 10% of their company. Most Sharks thought the business was too small, but Kevin O’Leary saw potential. He offered $100,000 for 33% plus a $1 per-unit royalty. After some back-and-forth, the founders accepted. They left with a tougher deal than expected but gained “Chef Wonderful” as a partner. This shows that sometimes, you need to compromise to get the right support for your business to grow.