Riki & Oron Franco are the brains behind the launch of the eco-friendly premium charcoal firm, Prime 6 Charcoal. The two co-founders came on the 12th season of Shark Tank aiming to sell their business idea to the investors in the Tank.
The Prime 6 Charcoal business idea is unique, where did they end up after their appearance on the Shark Tank episode?
Prime 6 Charcoal is a firm that sells charcoal made from hardwood waste sawdust. Their charcoal pieces are hexagonally shaped and are manufactured through a very unique process.
This product is made by meticulously compressing the hardwood dust and then turning it into a piece of dense charcoal. Every piece of charcoal is designed in a manner that is hollow in between. This design enables air to circulate better, resulting in a higher burning time. The Prime 6 charcoal pieces can burn for up to four hours each.
Here is a video to learn more about the brand and you can also follow them on Instagram to stay up to date with everything that they do.
How Was The Prime 6 Charcoal Idea Born?
Oron and Riki Franco’s devotion to sustainable living and their environmentally-friendly mindset enabled them to establish a business that helps the environment in general. They both love to grill. Hence, they got the brilliant idea to integrate all of these things.
The couple did some extensive research, talked to the right people and Prime 6 Charcoal was born. They also aimed to set up a firm that can build a legacy that they can leave to their children.
What Happened On The Shark Tank Episode?
After the Prime 6 Charcoal couple successfully presented their idea and interesting business plan to the sharks, both Daymond John and Kevin O’Leary offered the same deal.
The two Sharks were each willing to invest $200,000 in exchange for 25% equity in the firm. Eventually, Riki and Oron decided to go for Kevin’s offer since he shares their vision of helping them grow in their direct-to-consumer business idea. As of May 2022, the company is estimated to have a net worth of at least $2.5 million.
Where Is The Company Today?
The main question now is, where is Prime 6 Charcoal today, and what happened to the firm after their Shark Tank appearance?
According to some extensive research, the firm did $1.3 million in sales in the first 3 months after they appeared on the show.
Furthermore, they managed to branch out and sell their product in at least 5,000 new stores, including Safeway and Kroger. Their products are also available directly from the company’s online store.
All of the sales that this company made and up to today enabled Riki and Oron to plant at least 20,000 trees. This has undoubtedly helped with the couple’s and company’s core values of being environmentally friendly.