Nuchas, a New York City-based empanada company, has managed to do just that. Founded by Ariel Barbouth, an immigrant from Argentina, Nuchas has been serving up delectable, hand-baked empanadas with an international twist since 2009. Let’s take a closer look at the company’s journey, from its humble beginnings to its appearance on “Shark Tank” and beyond.
The Nuchas Pitch And Deal At Shark Tank
Ariel Barbouth’s appearance on Shark Tank was a pivotal moment for Nuchas. Armed with a compelling pitch and a proven track record of success, Ariel sought $2 million for an 8% stake in his company.
At the time, Nuchas boasted four retail locations in New York City, generating an impressive $2 million in sales, along with a thriving wholesale business bringing in an additional $3 million. Despite receiving enticing offers from sharks Daymond John and Barbara Corcoran, Ariel ultimately decided to walk away from the deal, confident in his vision for Nuchas’ future.
Nuchas Is Gone Out Of Business
Contrary to what some may assume based on the title “Nuchas Is Gone Out of Business,” the company has actually experienced remarkable growth and expansion since its Shark Tank appearance. While Ariel did not secure a deal on the show, the exposure and insights gained from the experience have propelled Nuchas to new heights.
What Was Nuchas Net Worth?
As of November 2022, Nuchas has focused its efforts on wholesale distribution, operating six physical locations and generating an annual revenue of $6 million. This impressive figure is a testament to the company’s resilience, adaptability, and unwavering commitment to quality. With a solid foundation and a proven business model, Nuchas’ net worth is undoubtedly on an upward trajectory.
Business Overview
At its core, Nuchas specializes in creating hand-made empanadas, a type of baked or fried pastry filled with a variety of savory and sweet ingredients. The company offers an extensive range of options, including beef, pork, chicken, vegetarian, vegan, and dessert empanadas. What sets Nuchas apart is their dedication to using fresh, high-quality ingredients without added hormones or antibiotics. This commitment to quality has earned them a loyal customer base and critical acclaim, including the 2013 Vendy Awards Rookie of the Year and the 2014 People’s Taste Award.
Post-Shark Tank, Nuchas embarked on a strategic expansion plan. They began offering franchises supplied by their wholesale division, partnered with Yumble, and expanded their direct-to-consumer shipping nationwide. In January 2021, Nuchas secured contracts with 50 stadiums and opened locations at two convention centers. A few months later, in April 2021, they formed a partnership with Franklin Junction to streamline remote production on the wholesale side. These strategic moves have positioned Nuchas for sustained growth and success in the competitive food industry.
Conclusion
Nuchas’ journey from a small kiosk in Times Square to a thriving empanada empire is a testament to the power of perseverance, quality, and adaptability. Despite not securing a deal on Shark Tank, Ariel and Leni Barbouth have demonstrated that with a clear vision, unwavering commitment, and a willingness to seize opportunities, success is within reach.
As Nuchas continues to expand its wholesale distribution and explore new partnerships, the future looks bright for this innovative and beloved empanada brand. With a solid foundation and a proven track record, Nuchas is poised to leave a lasting mark on the culinary landscape, one delicious empanada at a time.
