Simply Good Jars, founded by Jared Cannon, a successful Philadelphia chef with 18 years of experience, is revolutionizing the way we think about quick, convenient meals. With a focus on healthy, delicious options served in eco-friendly, recyclable jars, Simply Good Jars is making waves in the food industry.
The Simply Good Jars Pitch And Deal On Shark Tank
Jared Cannon appeared on the popular TV show Shark Tank, seeking $500,000 for a 7% stake in his company. He impressed the Sharks with his unique concept of serving a variety of meals, all weighing 9.2 ounces, in recyclable jars. The meals, which cost between $2.50 to $3.60 to make and sell for $8.99 to $10.99, rotate weekly and were initially only available in the Philadelphia area.
Cannon’s innovative approach to fast food caught the attention of Sharks Mark Cuban and Lori Greiner, who offered him a deal. However, due to unforeseen circumstances, the deal did not come to fruition. Despite this setback, Simply Good Jars saw a remarkable 1500% increase in sales after the show aired and received over 750,000 inquiries from interested customers and investors.
Simply Good Jars Are Still In Business?
Yes, Simply Good Jars is still in business. As of August 2022, Simply Good Jars’ annual revenue was $4.5 million. The COVID-19 pandemic posed a significant challenge for the company, forcing Cannon to pivot his business model. He quickly adapted by moving his products into 175 convenience stores, local Walgreens, and utilizing cloud kitchens for delivery. This strategic move allowed Simply Good Jars to continue growing despite the difficult circumstances.
In 2021, the company opened a third facility in Philadelphia and expected to have its products available in 28 states by 2022. The company’s revenue reached an impressive $4 million in 2021, a testament to its resilience and the demand for healthy, convenient meal options.
Net Worth Of Simply Good Jars
Simply Good Jars’ annual revenue was $4.5 million. The company’s success can be attributed to its unique concept, adaptability, and the increasing demand for healthy, fast food options. With plans for international expansion and patents pending for its packaging in the U.S., Canada, and Europe, the future looks bright for Simply Good Jars.
Business Overview
Simply Good Jars offers a range of healthy, pre-packaged meals in eco-friendly, recyclable jars. Customers can return the jars for re-use, and for each returned jar, the company donates a meal to local charities, making a positive impact on both the environment and the community.The company’s meals are made with fresh, high-quality ingredients and cater to various dietary preferences, including vegan, gluten-free, and low-carb options.
With a focus on convenience and health, Simply Good Jars has successfully carved out a niche in the fast-food industry.Recent developments include a partnership with WAWA, a popular convenience store chain, which led to the opening of a facility in Florida and plans for the product to be available in 30 locations around Philadelphia and potentially in Florida.
Conclusion
Simply Good Jars has come a long way since its appearance on Shark Tank. Despite facing challenges, particularly during the COVID-19 pandemic, the company has demonstrated remarkable resilience and adaptability. By focusing on healthy, convenient meal options and eco-friendly packaging, Simply Good Jars has tapped into a growing market demand and established itself as a leader in the fast-food industry.
With impressive revenue growth, expansion plans, and a commitment to giving back to the community, Simply Good Jars is poised for continued success. As more consumers prioritize health and sustainability, companies like Simply Good Jars are well-positioned to thrive in the years to come.
