Turbo Trusser – Shark Tank Update After Kevin O’Leary Deal

Chicken and turkey are favorites for special occasions. However, cooking them with a cooking rope doesn’t always give the best results. With the Turbo Trusser, you can cook a perfect chicken every time. Founders Kirk Hyust and Brian Halasinski marketed the product in season 14 and reached a deal with Kevin O’Leary. As of 2024, Turbo Trusser is valued at $1 million.

Founder

Kirk Hyust and Brian Halasinski are inventors from Stark County, Ohio. Kirk trained as a chef at the Culinary Institute of America, and Brian holds a BS in Business Administration from Kent State University and an MBA from Malone University.

After college, Harasinski worked as an analyst at Akro-Mils for two years. He then became a lean engineer at Newell Rubbermaid. His last job before starting Turbo Trusser was as a therapeutic specialist at Gilead Sciences.

Although Hyust studied culinary arts, he was more interested in inventing new products. From 2016 to 2019, he served as president of Kirk Wrench LLC and currently serves as vice president of Hall Of Fame Innovations.

Founding of Turbo Trusser

The two became friends after Kirk renovated Brian’s house in 2015. Since then, they’ve invented six products, four in the barbecue industry and two in the pet industry. None of their inventions were successful, but the Turbo Trusser had potential.

This product is designed to make cooking chicken and turkey easier. It features a stainless steel trusser with two wire hooks for securing chicken wings and drumsticks. The Turbo trusser helps perfectly cook poultry in the oven, fryer, grill, and more.

After the founders partnered with a local company to produce the product, the product was launched on the market in 2021. A few months later, their sales reached $50,000. A year later, that number rose to over $100,000!

Featured on Shark Tank

Kirk and Brian initially applied to Shark Tank after starting their business. They were not accepted, but after raising $50,000, they felt confident to try again.

It was a few months later that the two received a call from the show’s producer and were asked to go to Los Angeles to shoot scenes for the show.

Shark Tank Appearance

The founders swaggered into the Tank dressed in turkey and chicken costumes. Despite a shaky start, they recovered and did an excellent job explaining their product. When pitched, Turbo Trusser achieved $90,000 in sales in 8 and a half months. 60% of sales came from their website and 27% from three distributors.

Four Sharks passed because the product was niche and they didn’t believe they could scale. Mr. Wonderful was the only one interested, but it would take a lot of work. They accepted Kevin’s offer for $100,000 for 33% and a $1 per unit royalty in perpetuity.

After Shark Tank

Turbo Trusser was already doing well, but appearing on the show boosted sales, and it ended the year with $290,000 in revenue. The product is currently available on Amazon, TurboTrusser.com, and 80 retail stores in the U.S. and Canada. The deal with Kevin was completed a few months after the episode aired.

The product was sold at local stores like Ace stores in Kent and Akron and Mister Brisket in Cleveland Heights. Over time, the product began to attract orders from countries outside the United States, such as Germany, Chile, Australia and the United Kingdom.

Turbo Trusser has 784 reviews on Amazon with an average rating of 4.3 stars. Currently, Turbo Trusser has annual revenue of approximately $100,000 and a valuation of $1 million. If the deal with Kevin O’Leary were to go through, the $1 per unit royalty would have a negative impact on their long-term cash flow. The founders were supposed to give up the royalties after Kevin recouped his initial investment.

Categories: Shark Tank
Source: dut.edu.vn