How do you give the individuals of Los Angeles a style of New England? Easy: you purchase a meals truck and promote genuine, mouthwatering Maine lobster rolls.
At the least, that is what Sabin Lomac and Jim Tselikis, Co-Founders of Cousins Maine Lobster, did.
A couple of months into their enterprise, they went on Shark Tank, securing a cope with the one and solely Barbara Corcoran. She forked over $55,000 for a 5% piece of the motion.
Now, one lonely meals truck was a fleet of fifty, and Los Angeles turned considered one of thirty areas the place you may seize a lobster roll on wheels.
How did they make it occur? All of it boils down (put supposed) to their easy, but extremely highly effective mantra: “Put together Properly, Work Arduous.”
Let’s check out how they put it into motion.
Earlier than Getting into the Shark Tank: “Put together Properly”
Lomac describes Cousins Maine Lobster as “a ardour challenge.” Within the early days, he wasn’t planning to maneuver to Los Angeles full-time. Each he and Tselikis weren’t planning to give up their jobs. Actually, once they purchased their first meals truck, their solely aim was to interrupt even.
Then, Shark Tank known as.
It was the push they wanted to go all in. However, totally conscious of their relative inexperience as enterprise house owners, Lomac and Tselikis knew they needed to put together.
Listed below are just a few unconventional methods they ready for Shark Tank:
- Watched 60+ episodes and wrote down probably the most generally requested questions on index playing cards.
- Practiced their pitch within the mirror whereas the opposite individual tried to distract them. “As ridiculous because it may probably get, we had been making an attempt to do it,” stated Sabin.
- Function-played as completely different sharks and grilled one another with questions.
- Went for runs to get their coronary heart fee up.
- Determined to focus on a particular shark. One shark stood out from the remaining of their analysis of the present: Barbara Corcoran. Tselikis stated, “She’s out there for us 24/7, all the time has been, and that is why we focused her. We felt she can be like that, and among the producers indicated that. Very maternal, form, loving, humorous.”
All that analysis and preparation paid off, with Sabin and Tselikis touchdown a $50,000+ cope with Barbara. However the exhausting work was simply starting.
After Leaving the Shark Tank: “Work Arduous”
“[Shark Tank] offers you a chance, however it would not assure success. You get up the following day or week or month, that is when the exhausting work begins. You will have a goal in your again. 9, ten million individuals have seen this. So, we did the whole lot we may to make it tick,” stated Lomac.
In 2014, two years after their look on Shark Tank, they began franchising Cousins Maine Lobster — an thought from Barbara.
9 years later, Cousins Maine Lobster has greater than 50 meals vehicles nationwide and 7 eating places. In addition they based Cousins for a Trigger, a non-profit that companions with Huge Brothers Huge Sisters of America to present again to native communities.
Placing It All Collectively: “Put together Properly, Work Arduous”
When requested what recommendation they’d give to entrepreneurs seeking to safe a deal on Shark Tank, their message was easy: get able to work.
“If you happen to go on the present actually wanting a deal, prepare for the work as a result of if you happen to do not wish to work, you don’t need lengthy days, late nights, or early mornings, you are losing your time. It is actually simply the beginning,” stated Lomac.
