Thursday, June 13, 2024

Everything Legendary After Shark Tank Update 2024 – Where Are They Now

Everything Legendary Before Shark Tank

Everything Legendary was founded by Jumoke, Danita, and Duane in 2019. The company produces premium plant-based vegan frozen burgers. Everything Legendary went on Shark Tank and made an offer with Mark Cuban for $300,000 for 22% of the company. By 2024, Everything Legendary was in over 5,600 locations, added new products, and ran a vegan food truck.

Vegan diets are becoming more and more popular, providing health benefits and a better life for animals. However, even the most avid vegan could crave a flavorful burger. The few options available while on a vegan diet scare off many considering that option. That is why the plant-based food industry has been blooming as of 2024. Duane Myko, Danita Claytor, and Chef Jumoke Jackson wanted a delicious premium vegan option for those burger cravings, so they came up with Everything Legendary.

Everything Legendary Shark Tank 2

Everything Legendary is a black-owned company that produces premium plant-based food for anyone interested in a healthy vegan diet. Each burger is produced with hemp-based protein and a rich abundance of spices and herbs. Everything Legendary began by offering three flavors: Cheddar, Pepper Jack, and Cayenne Pepper.

The Washington DC startup Everything Legendary was founded in 2019. The company’s vision is to help combat obesity, heart disease, and unhealthy diets. Everything Legendary started in a shared kitchen where the trio delivered burgers to local customers. However, they had to change their business model when the Covid-19 Pandemic hit, forcing them to sell their burgers frozen using stores and online DTC.

The founding trio had received an offer from a major vegan restaurant but they refused, hoping to partner with the Sharks instead. Jumoke, Danita, and Duane were on Shark Tank hoping to find a business partner willing to help fund and market Everything Legendary to revolutionize the premium plant-based meat industry.

Everything Legendary on Shark Tank

Jumoke, Danita, and Duane appeared on season 12 of Shark Tank seeking $300,000 for 10% of their company, Everything Legendary. They explained their company and burgers, claiming it is the caviar or Kobe Beef of the plant-based meat industry. They gave each Shark one of their cheddar burgers, and the Sharks absolutely loved it; Kevin even claimed, “This is the best burger I’ve ever had that is plant-based.”

Everything Legendary 23 Jumoke claimed that each burger is only 250 calories for a 6-ounce patty. Each burger only has 15 grams of fat. Duane stated that each burger is shipped frozen to stores and customers. Everything Legendary’s four-pack burger costs $20 to produce, and is sold for $45. The eight-pack costs $40 to produce and sells for $75. Duane cited that their online profit margins were 53%.

Danita told the Sharks the inspiration behind Everything Legendary. Her mother had been a cancer victim. Whenever she tried to get her to be on a healthy diet, her mom wouldn’t like it. So with the help of Duane and Jumoke, they created Everything Legendary. Danita’s mom loved it and was a big supporter of the company. She believed they would get on Shark Tank, which they have.

Duane stated that the reason for the burger’s expensive price (30% higher than competitors) was because it was “the wagyu” of the industry. He said it was a premium product, which justified its high price point. Everything Legendary had been in business for roughly two years and had $165,000 in lifetime sales, with $53,000 being profit. Unfortunately, the company had been unable to operate for a few months due to Covid-19, but they had successfully overcome the obstacles that came with the pandemic.

The trio claimed that they hadn’t spent any money on customer acquisition. Their marketing consisted only of social media posts and word-of-mouth advertising. The month before filming, Everything Legendary made $15,500 in sales; a 100% growth from the first month after the company launch.

Everything Legendary started with $47,000 from the trio’s savings. They began their startup with pop-up stalls, which constituted 80% of their total sales; 2.5% was through retail, 2.5% was in grocery stores, and 15% was online DTC. They had $30,000 in sales from grocery stores but had no profit; that was because they sold their packs to the stores for $10, which was the same as the production costs.

Barbara Corcoran disliked the price difference between Everything Legendary and other companies in the market, so she was out.

Kevin O’Leary was unsure about the high valuation; he wasn’t willing to invest $300,000, so he was out.

Mark Cuban was interested, but he believed the best way for Everything Legendary to scale up and profit was to use cloud kitchens and sell through delivery services like DoorDash and Uber Eats. Mark offered $300,000 for 25% of the company. The trio’s counter-offer was $300,000 for 25%. Mark agreed to go down to 22%, and the trio accepted the deal. They believed Mark Cuban would help Everything Legendary takeover the plant-based meat market.

Everything Legendary Now in 2024 – The After Shark Tank Update

Everything Legendary Shark Tank 4 The deal with Mark Cuban closed successfully. Just one day after the Shark Tank episode aired, Everything Legendary made over $250,000 in sales. Only four months after that, the company made $1.7 million in sales. The company quickly expanded, partnering with not one, but three co-packers across the United States to produce at the rate of 160,000 burgers in one hour.

By the end of 2021, Everything Legendary was in over 1000 stores including Target, Walmart Giant Food, Ralphs, and more. Everything Legendary also received an update segment in 2021 on season 13 of Shark Tank. The update showed the company’s major growth over the last year as Everything Legendary increased in sales, locations, and production. Everything Legendary made $10 million in annual revenue in 2021.

However, co-founder Chef Jumoke was sued by his wife in New York’s Supreme Court Civil Term. The lawsuit was filed early in 2021 and is still pending to date in 2024. The lawsuit requested payment from Jumoke to his wife, Renee Warren, which he has yet to pay.

Everything Legendary closed a Series A funding round. The funding round was meant to help grow and expand the company to produce more products. Later that year, Everything Legendary launched its new plant-based Dragon Wyngz. Everything Legendary also launched plant-based ground beef at $10.99/12 oz. Everything Legendary has apparently reduced its production costs as each patty only costs $4!

Everything Legendary Shark Tank 3 The founding trio didn’t stop there; Everything Legendary recently in 2024 launched a vegan food truck business with many items. Menu options include Legendary Jerk Mac & Cheese, Legendary Buffalo Ranch Nachos, Legendary Sausage, Legendary Soulful Taco, and more! By the end of 2022, Everything Legendary was in over 5,600 locations across the United States.

Everything Legendary has proven a massive success, with annual sales and revenue growing rapidly, and the founding trio planning new plant-based delicacies to launch in the market. The company will likely continue to grow, its vegan products appearing in stores next to major brands. Will Everything Legendary revolutionize the plant-based meat industry and be the Wagyu of the market? For more updates and information, visit Everything Legendary’s website here.

Omar Sheikh Alard
Omar Sheikh Alard
Omar brings a love for novels and anything tech-related to the Gazette Review. Fun fact: he was the reigning chess champion at his high school.
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