Shark Tank Update
Shark Tank Pitch
How Do You Roll? Shark Tank Update
Published:
2m
Austin, TX
| Name | How Do You Roll? |
|---|---|
| Main Presenters | Yuen Yung and Peter Yung |
| Presenter Image | |
| Product Image | |
| Last Known in Business | 2/15/2013 |
| Main Location | Austin, TX Loading Map |
| Order Shown in Episode | 2 |
| Final Deal | Deal was made on the show with sharks Kevin O'Leary for $1 million for 20% of company, but it fell through after the show. |
How Do You Roll? Shark Tank Pitch
Yuen Yung and Peter Yung were working in their parents' Chinese restaurant by the ages of eight and nine. Yuen and Peter created a fast-casual sushi restaurant that makes custom sushi rolls as the customer selects fillings, similar to Chipotle or Fusion.
Yuen and Peter started How Do You Roll? three years ago in Austin, Texas. After opening two locations, they began franchising two and a half years ago and have 40 franchisees, 15 of which have an open store. Each franchise costs $300k for the franchisee to open. Yuen and Peter will collect $250k in royalties from their franchisees this year. Yuen and Peter had a letter of intent come to them offering to buy 75% of the company at a $6.6 million valuation, which has influenced their ask to the sharks.
The sharks believed the food was great, the presentation was well-done, and they were impressed with Yuen and Peter's progress. Unfortunately, they find the restaurant business very difficult to succeed in. Only Kevin makes an offer, and the two parties eventually settle on a deal, despite the criticisms of Kevin's offer from his fellow sharks.
Offers
| Made By | Label | Sharks Part of Deal | Summary |
|---|---|---|---|
| Company | Offered | $1 million for 12% of company | |
| Sharks | Out | Mark Cuban | Out |
| Sharks | Out | Daymond John | Out |
| Sharks | Out | Robert Herjavec | Out |
| Sharks | Out | Barbara Corcoran | Out |
| Sharks | Offered | Kevin O'Leary | $1 million for 22% of company |
| Company | Offered | Kevin O'Leary | $1 million for 15% of company |
| Sharks | Deal Never Closed | Kevin O'Leary | $1 million for 20% of company |
Mark Cuban
Out
Daymond John
Out
Kevin O'Leary
Deal Never Closed
Barbara Corcoran
Out
Robert Herjavec
Out
Updates in Shark Tank Episodes
| Update Season | Update Episode |
|---|---|
| No Episode Updates | |
How Do You Roll? After Shark Tank
According to gazettereview.com https://gazettereview.com/roll-update-happened-shark-tank, Kevin included in the contract that Kevin would select a board of directors for How Do You Roll? and Yuen Yung and Peter Yung did not want to accept, so the deal fell through. Yuen and Peter grew How Do You Roll? to over 100 locations.Link Preview
gazettereview.com
According to Yuen's LinkedIn https://www.linkedin.com/in/yuenyung, he left How Do You Roll in 2014, Yuen and Peter sold the business in 2015 and took the website down soon after. Yuen's real estate experience stuck with him. In 2022, he is the CEO of a real estate investment firm. I could not find what Peter is up to but one may estimate that it is chef related.Link Preview
LinkedIn
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