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Brooklyn native, Phil Wong, recognizes that many Americans are making the shift to diets that are rich in plant-based foods. To help cater to this rapidly expanding market, Phil has created a variety of sausage recipes that are a blend of meat and vegetables. His better-for-you line of sausages, Misfit Food, are lower in sodium and cholesterol as compared to traditional sausages and are a healthier alternative to traditional meat products. Seeking $250,000 in exchange for 5% equity, Phil is hoping to partner with a Shark to help him to expand and grow his product reach.

Initially, the Sharks were not convinced that a blended meat and vegetable product was needed in the market, however, after seeing Misfit Food’s initial sales, they changed their view. During their first year on the market (2020), Misfit Food was on track to hit $1.2 million in sales at the time of filming. These sales are predominantly from their website, however, 20% did come from selling through Whole Foods. Although Phil only has a marketing spend of about 5%, great margins, and surprisingly good sales, the Sharks know how brutal the food space can be. They are also concerned that Phil has already raised $2 million to get Misfit Food off the ground.

Although the Sharks do have reservations about the business, they are impressed by the products and their sales. Lori Greiner, aware that they can easily be knocked off, thinks that Phil should race to corner this market with his recipe. She offers to invest $250,000 in exchange for 18% equity. Mark Cuban and Daniel Lubetzky decide to partner together and agree to invest $300,000 in exchange for a shared 15% equity. Although Phil is flattered to receive two offers, he ultimately decides to accept Mark and Daniel’s offer.

If you were in the Shark Tank, would you have invested in Misfit Food? Do you think that Phil made a good decision by choosing Daniel Lubetzky and Mark Cuban over Lori Greiner? Start the conversation in the comments below!

Read more: Shark Tank: Delighted by Hummus Accepts $600,000 Offer from Mark Cuban


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