The wealth and history of Project Pollo are the subjects of this write-up. Project Pollo is the first vegan chicken fast food franchise in the United States, serving burgers, sandwiches, and shakes made from plant-based ingredients. Lucas Bradbury, proprietor of the plant-based eatery, appeared on the ABC show Shark Tank but left without a deal. It is a network of fast-food restaurants known for serving non-meat chicken options.
Former Chick-fil-A employee Lucas Bradbury started the startup in 2019. San Antonio, Texas, was the site of the original Project Pollo restaurant, and the chain has since spread to several other locations across Texas and Oklahoma. Project Pollo is all about sustainability and is more moral than current fast food options. The company serves vegan versions of traditional fast food favourites like chicken fingers, nuggets, and crispy chicken sandwiches.
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Project Pollo Net Worth
The fast-growing Project Pollo vegan fast-food restaurant gives Americans easy and cheap access to healthy plant-based options. Rapid expansion can be seen in Project Pollo. The founder plans to take his network national by 2024. He had gone to “Shark Tank” for financing to help him achieve this objective. The creators of Project Pollo stated on Shark Tank that their company was worth $50 million.
|Company Name||Project Pollo|
|Place||San Antonio, Texas|
|Product||Vegan Fast Food Chain|
|Business||Fast food restaurants that serve plant-based meat|
|Asked For||$2.5 Million of 5% Equity|
|Project Pollo Net Worth||$50 million|
About the Founder
San Antonio, Texas native Lucas Bradbury studied general studies at Kansas Wesleyan University for two years. He later graduated from Kansas State University with a degree in economics. While still a student, he held general management positions at Pizza Hut and Bravo Brio. Additionally, Lucas was employed by the Leiszler Oil Company as an area director.
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He worked in the same position at Dunkin’ Donuts and Papa John’s after college. Later, he held positions at Which Wich Superior Sandwiches as a general manager and an area director. He joined Earth Burgers as the VP of Operations and a franchisee in 2017.
Founding the Company
To comply with CDC guidelines for operating during the pandemic, a nearby brewery once inquired of Lucas about putting a food truck on his land. By launching a food truck, the man hoped to gauge interest in the market. In any case, it wasn’t just any restaurant he went to. He only wanted to serve non-GMO, plant-based foods.
Additionally, items like bags and containers from the grocery store could be composted. Beginning in January 2020, Project Pollo served only vegetarian chicken patties. The startup increased its menu after experiencing unheard-of growth. They opened ten sites in Texas in less than two years and projected $10 million in sales.
appearance on Shark Tank
After getting an email from Mark Cuban, Lucas Bradbury made a pitch on Shark Tank. The entrepreneur didn’t need to raise money then but believed the public would benefit the company. He requested $2.5 million for a 5% equity stake when he appeared on Shark Tank in season 13. Before he presented his valuation, he told the Sharks to get ready.
The Texan businessman defended the estimate and justified its high value. The assessment was challenging for Kevin O’Leary to swallow. Barbara also emphasized how the name might deceive shoppers. The Sharks were intrigued by his food and early profits but were hesitant to invest since they thought the company was scaling too quickly and would suffer significant financial losses. All of the Sharks turned down the chance.
after Shark Tank
Even though Lucas didn’t land a deal, the show gave him enough free publicity to maintain the business’s robust pace. There are 13 Project Pollo restaurants in Texas, and eight more will open by the end of 2022 in states like Colorado, Boulder, Arizona, and Las Vegas. To launch his franchise in 2023, Lucas is seeking partnerships with seasoned restaurateurs in New York City, Philadelphia, and Baltimore.
The chain is renowned for offering excellent employee benefits, including health insurance and paid time off. On Yelp, the vegan fast food restaurant has 165 reviews with an average rating of 4.5 stars. The predicted $10 million in annual revenue and $50 million market value of Project Pollo. Despite the business’s success, it will require the introduction of healthier solutions in the long run to maintain its expansion.
Project Pollo Shark Tank Appearance
Mark Cuban’s email encouraged Lucas Bradbury to submit his idea on Shark Tank. In season 13, he offered $2.5 million for a 5% interest stake. Despite not having a financial necessity, he decided to go public since he thought the publicity would help the business. He justified his estimate during his presentation and discussed why the company was so valuable.
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The Sharks hesitated to invest since they anticipated significant losses if they supported the company’s rapid expansion plans. While Kevin O’Leary had trouble accepting the valuation, Barbara brought up customers’ confusion over the name. The Sharks were initially impressed by his early success and the quality of his meals, but they finally decided not to invest.
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