Project Pollo Net Worth – The Follow-up to Shark Tank

Project Pollo is the first vegan chicken fast-food chain in the U.S. that aims to disrupt the industry with plant-based burgers, wraps, and shakes. The vegan restaurant’s founder, Lucas Bradbury, appeared on Shark Tank but failed to land a deal. As of 2024, Project Pollo is estimated to be worth $50 million.

Founder

Lucas Bradbury currently lives in San Antonio, Texas, where he attended Kansas Wesleyan University for two years to study general studies. He later earned a degree in economics from Kansas State University.

While in school, Lucas worked as a general manager at Pizza Hut and BRAVO BRIO. Lucas was also hired by Leiszler Oil Company as a regional director. After graduation, he held the same position at Dunkin’ Donuts and Papa John’s.

He then served as regional director and general manager of Which Wich Superior Sandwiches. In 2017, he became a franchisee and vice president of operations for Earth Burgers.

Pollo Project Created

One day, a local brewery asked Lucas if they could put a food truck on his property to comply with the CDC’s operating regulations during the pandemic. Lucas wanted to test the market by opening a food truck.

So he decided to open a restaurant, but this one wasn’t just any restaurant. He wanted all the food he served to be plant-based and non-GMO. In addition, items like bags and containers in the restaurant would be compostable.

Project Pollo launched in 2020, offering only meatless chicken patties. As the startup experienced unprecedented growth, it expanded its menu. In less than two years, they had 10 locations in Texas and were projecting revenue of $10 million.

Shark Tank Appearance

Lucas Bradbury pitched himself on Shark Tank after receiving an email from Mark Cuban. At the time, the founder didn’t need to raise money, but thought the exposure would be good for the company. He participated in Season 13 of Shark Tank in hopes of getting 5% equity for $2.5 million.

He warned the Sharks to be prepared before revealing his valuation. The Texas entrepreneur stood by his valuation and explained why his company was worth that much. Kevin O’Leary was particularly hard to accept the valuation.

Barbara also pointed out that customers would be deceived by the name of the restaurant. The sharks were impressed by his cuisine and early revenue, but they were hesitant to invest, thinking that the restaurant would expand too quickly and lose a lot of money. The sharks all passed on the opportunity.

After Shark Tank

Although Lucas didn’t sign on, he got enough free publicity from the show to continue the company’s strong momentum. Project Pollo has 13 locations in Texas and recently added eight more locations by the end of 2022 in Colorado, Boulder, Arizona, and Las Vegas.

Lucas plans to start franchising in 2023 and hopes to partner with experienced restaurant operators in New York City, Philadelphia and Baltimore. The chain is known for offering generous benefits to employees, including health insurance and paid vacation.

The vegetarian fast food chain has 165 reviews on Yelp with an average rating of 4.5 stars. Project Pollo has an estimated $10 million in annual revenue and is valued at $50 million. Despite the company’s success, they need to introduce healthier options in the long term to sustain their growth.

Categories: Shark Tank
Source: dut.edu.vn