Burlap & Barrel Spices Shark Tank Episode 19 Update & Net Worth

Burlap & Barrel Spices Shark Tank Episode 19 Update & Net Worth

Burlap & Barrel is a sustainable spice company that has made waves in the culinary world by offering single-origin spices and herbal products directly sourced from farmers around the globe.

 Founded in 2016 by Ethan Frisch and Ori Zohar, the company operates as a public benefit corporation, ensuring that their business model not only generates profit but also contributes to social good.

Burlap & Barrel’s mission is to revolutionize the spice supply chain by providing fair prices to farmers and delivering high-quality spices to consumers.

In Season 14, Episode 19 of Shark Tank, the founders sought $500,000 for 5% equity, valuing the company at $10 million. Their goal was to make natural spices more accessible throughout the U.S. and to scale their operations while maintaining their commitment to sustainability and ethical sourcing.

Despite their strong pitch, Burlap & Barrel left the tank without a deal. However, the exposure from the show has helped the company continue to grow, reinforcing its reputation as a leader in the sustainable spice market.

What Is Burlap & Barrel Spices? How Does it Work?

Burlap & Barrel is a spice company that specializes in single-origin spices and herbal products sourced directly from small farmers and cooperatives. The company operates under a direct trade model, which cuts out intermediaries and ensures that the farmers receive fair compensation for their work. This approach not only supports sustainable farming practices but also guarantees that consumers receive the freshest and most flavorful spices available.

The process begins with Burlap & Barrel’s founders and team members visiting the farms to establish relationships with the farmers. They meticulously check the agricultural techniques and harvesting processes to ensure that the spices meet their high standards for quality and safety.

Once harvested, the spices are sent to third-party laboratories for quality testing before being packaged and distributed.

Burlap & Barrel offers a wide range of products, including Wild Mountain Cumin, Royal Cinnamon, and Raki Anise Seeds. The company provides detailed information about each spice’s origin, helping consumers understand the journey from farm to table. Their products are available for purchase on their official website and through Amazon.

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Burlap & Barrel Spices Shark Tank Episode 19 Season 14: What Happened at Shark Tank Pitch?

In Season 14, Episode 19 of Shark Tank, Ethan Frisch and Ori Zohar entered the tank with a confident pitch, seeking $500,000 for 5% equity in Burlap & Barrel. They explained how their company sources single-origin spices from farmers in countries like Zanzibar and Guatemala, cutting out the middlemen and ensuring that farmers receive a fair price for their products.

Ethan and Ori shared that their company had grown significantly since its inception in 2016, with over 75 different spices in their portfolio. They emphasized that more than 85% of their sales were direct-to-consumer, a business model that allowed them to maintain control over their pricing and customer experience.

Despite their impressive track record and commitment to sustainability, the Sharks were hesitant. Mark Cuban, Lori Greiner, Barbara Corcoran, and guest Shark Gwyneth Paltrow all decided to pass on the opportunity. Kevin O’Leary offered $500,000 for 10% equity with a 20% royalty on all sales until he doubled his money. Ethan and Ori countered, but Kevin quickly rejected their offer, forcing them to leave without a deal.

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Burlap & Barrel Spices Shark Tank Pitch Summary

What Happened To Burlap & Barrel Spices After Shark Tank?

Despite leaving Shark Tank without a deal, Burlap & Barrel continued to thrive. The exposure from the show helped boost their profile, leading to increased interest from consumers who value sustainability and ethical sourcing. Social media buzz following the episode praised the company’s innovative approach and commitment to quality.

In the months following their Shark Tank appearance, Burlap & Barrel maintained strong revenue, although recent data indicated a 50% decrease in visitors to their official website. Despite this, the company’s commitment to transparency and quality has helped them retain a loyal customer base.

Ethan and Ori have continued to expand their product offerings and improve their supply chain, ensuring that their spices remain some of the freshest and most flavorful on the market. They also focus on educating consumers about the importance of sustainable sourcing and the benefits of using single-origin spices.

How Much Is Burlap & Barrel Spices Worth?

As of 2024, Burlap & Barrel Spices is valued at $10 million. The company’s success can be attributed to its innovative business model, which combines ethical sourcing with high-quality products. Since its founding in 2016, Burlap & Barrel has sourced 70 spices from 23 countries, paying a total of $1.7 million to partner farmers.

The company’s revenue growth has been impressive, with sales exceeding $12 million over six years. In 2021 alone, Burlap & Barrel generated over $5 million in gross revenue, and they expect to continue growing in the coming years.

Is Burlap & Barrel Spices Still in Business?

Yes, Burlap & Barrel Spices is still in business as of August 2024. The company continues to operate from its headquarters in New York City, with additional teams in California, Arkansas, Colorado, Japan, and Virginia. Burlap & Barrel remains committed to its mission of providing high-quality, ethically sourced spices to consumers while supporting sustainable farming practices around the world.

The company’s focus on transparency and direct trade has resonated with consumers who are increasingly concerned about the environmental and social impacts of their food choices. Burlap & Barrel’s success in this niche market has positioned them as a leader in the sustainable spice industry.

Which Episode Number Was Burlap & Barrel Spices Shark Tank?

Burlap & Barrel Spices appeared on Shark Tank during Season 14, Episode 19, which originally aired on April 7, 2023. Although they did not secure a deal, the exposure from the show has helped the company continue to grow and expand its reach in the competitive spice market.