Wellingtons Update | Shark Tank Season 15
Wellington’s co-founders Anastasia and Arya Alexander pitched their frozen food business in the third episode of Shark Tank 15. Both demanded $200,000 in exchange for 10% equity.
The Sharks were amazed by the taste. However, most of them were concerned about the profitability of this business model. Despite great taste, Wellingtons couldn’t land a deal on Shark Tank.
It has been a few months since Wellingtons appeared on Shark Tank, and we have an update on this company!
| Company Name | Wellingtons |
|---|---|
| Founders | Anastasia, Arya Alexander |
| Founded | 2020 |
| Business | Frozen Beef Wellingtons |
| Ask | $200,000 for 10% equity |
| Deal | No deal |
| Sharks | No shark |
Wellingtons Company Update
Wellington co-founders Anastasia and Arya asked for $200,000 for 10% equity on Shark Tank. Unfortunately, they failed to secure a deal on Shark Tank.
In terms of Wellingtons updates, this business is still operational, and they generated approximately $600,000 in revenue within four days of airing the episode.
Anastasia told us, “When we received the email about our air date, we immediately buckled down and optimized everything from email flow campaigns to logistics and ads.”
He also revealed they had captured tons of valuable data and customer emails in the traffic wave. Now, they’re also focusing on email marketing to acquire customers.
After the show, they added a Shark Tank Bundle to their menu that costs $124 on their website.
This business was featured in many popular food blogs and business news portals. Shark Tank’s appearance allowed them to gain massive popularity across the country.
We hope a food business that started during the COVID-19 pandemic will become a multi-million dollar company.
Our team is following up with the founders, and we shall come up with a fresh Wellingtons update very soon!
Meanwhile, read other company updates that appeared in Shark Tank 15 Episode 03:
About Wellingtons
There is a type of beef traditionally known as Wellington. It is a filet mignon wrapped in a flaky puff pastry. It’s a mouth-watering, luxurious dish.
However, cooking the Wellington Beef is incredibly complicated and time-consuming, so most people only have it at a restaurant or on a special occasion.
To make this dish more accessible, Anastasia and Arya Alexander co-founded Wellingtons, which ships frozen beef wellingtons directly to homes.
The consumers don’t have to waste time prepping or reading a complex recipe. They only have to bake it. The brand prepares Wellington in commercial kitchens.
After which, a consumer has to pop it in the oven for 35 minutes, and it is ready to serve. Wellingtons provides multiple options like classic beef welly, cheeseburger welly, breakfast welly, and hazelnut chocolate welly.
They also have bite-sized lines like buffalo chicken welly bites and cheeseburger welly bites.
Wellingtons Shark Tank Pitch Recap
The founders began their pitch by asking for $200,000 for 10% equity. The sharks then tried some of the wellies and found them delicious.
Founder: Are you vegan-ish today or not vegan, Mark? Is it good? Do you like it? We tried very hard.
Kevin: So, guys, you know Chef Wonderful makes beef wellys. I must attest to one fact: you are correct that it is challenging and time-consuming.
Founder: Yeah, it definitely is.
Mark then asks Michael about what he thinks of this.
Michael: These are really good—great, not just food.
Founder: I am so happy to hear that.
The discussion then swayed towards the economics of the business. Kevin asks whether the number-one seller is the classic welly. The founders agreed.
Founder: We sell the classic welly for $35. Our food costs, including our kitchen and labor, are $9.41.
Michael: And, when you say you sell for $35, is it all for direct-to-consumer? Where are you selling it?
The founder said they actually sell on GoldBelly, and recently, they started their e-commerce website. They are now selling directly to consumers.
Michael: Is that where you sell most of it now or all of it?
Founder: We still have most of our business on GoldBelly, especially during the holidays.
Michael: Am I really foolish when I ask what GoldBelly is?
Founder: It’s like Postmates but with overnight shipping. So, on GoldBelly, they sell a four-pack of Classic Wellies for $169 bucks.
The founder then said that for four packs on their website, it’s $140, and their cost is about $37. Meanwhile, there is a shipping cost of $27 and $9 for box and dry ice.
Barbara: Are you trying to move away from GoldBelly onto your website for all your orders? Is that your goal?
Founder: Yeah, that’s our goal. We were also thinking about going straight into grocery stores and going national and trying to get to 1,200 stores, but I think it’s premature for that.
Kevin then asked about Wellington’s revenues and sales.
Founder: Last year, we made $313,000 in sales. And about $240,000 of that was on GoldBelly. But we lost $250,000 last year and are not making any money right now.
Kevin: So you really need to shift this from direct to consumer from your site, or you’ll never make money. So, guys, I can’t make a deal because I also sell similar products. I am actually your competitor.
Founder: You do not try to do Wonderful Wellies, do you? Better not Kevin.
Kevin advises the founders to change their business model; otherwise, they won’t make any money like this.
Michael: I think your business is so young and small. And it isn’t working currently, so for that reason, I am out.
Mark says this is a tricky business, and the founders are stuck between having a great product and higher shipping costs. He advises them to find different ways to sell. Mark went out of the deal.
Lori: Everything about you is fantastic. However, the problem for me as an investor is that I must be passionate about the product. I don’t eat very much meat. I am out.
Barbara: I am into many food businesses, but I don’t think I can deliver what you need. So, I am out.
Ultimately, Wellingtons Beef co-founders left the Shark Tank without any deal.
Final Words
Wellingtons didn’t receive any deal on Shark Tank. However, the Shark Tank appearance gave them a massive opportunity to grow their sales. The company is still in business and has lots of valuable data and a nationwide presence.
