Introduction
TaDah Foods, a company specializing in delicious Falafel Street Wraps, has had an exciting journey since its appearance on Shark Tank. Founded by John Soriel, this Mediterranean cuisine business, which boasts a range of flavors and high-quality, healthy, and natural ingredients, has shown remarkable growth and progress.
Founder and Inspiration of TaDah Foods:
John Soriel initiated TaDah Foods in January 2011. His background is rooted in an immigrant family with a history in foodservice and restaurants in New York City. Growing up, John was immersed in international cuisine through his family’s restaurant business, which served as a significant source of inspiration for his culinary journey.
Unique Mediterranean Cuisine:
John’s passion for cooking and his family’s culinary traditions led him to create a unique and healthy Mediterranean cuisine. TaDah Foods specializes in Falafel Street Wraps made from high-quality, natural ingredients. These wraps come in various flavors, including Creamy Caramelized Harissa, Garden Veggie Feta, Spicy-Sweet Harissa Hummus, and Luscious Lemon Garlic Hummus. These wraps are completely plant-based and pack a healthy 16 grams of protein in each serving.
Another Pitches
Shark Tank Pitch of TaDah Foods:
John Soriel took his innovative business to Shark Tank during Season 11, Episode 1. In his pitch, he sought a $300,000 investment in exchange for 10% equity, valuing TaDah Foods at $3 million. He introduced the sharks to his groundbreaking product, the world’s first Gluten-Free Stuffed Falafel Peppers. These products were priced competitively, with a 7.5-ounce frozen falafel pack at $3.99 and an 8-ounce gluten-free pack at $4.99, with a production cost of $0.90.
Challenges and Growth:
TaDah Foods experienced both successes and challenges. While their lifetime sales had reached $8.2 million, they faced a decline in sales from $2.3 million to $1.7 million and further down to $1 million due to production issues. They even incurred a loss of $200,000 in 2018. Notably, Lori Greiner chose not to invest, but John Soriel managed to secure $300,000 in the Friends and Family round. John eventually agreed to a deal with Daniel Lubetzky, who invested $500,000 for a 25% equity stake along with a line of credit.
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Post-Shark Tank Success of TaDah Foods:
After the Shark Tank episode aired, TaDah Foods witnessed a surge in interest. Within a month, their official website saw 100,000 visitors, and consumers began purchasing their frozen line products from various retailers, including Concord Market, DNY Natural Land, Downtown Natural Market, Whole Foods, Health & Harmony, and more. In February 2020, TaDah Foods expanded its presence by offering its products at Lowe’s Foods supermarket retail stores. By September 2020, their frozen products were available at Target stores. The company even conducted a successful equity-based crowdfunding campaign on WeFunder in July 2021, raising $771,391 from 354 investors.
What Is The Net Worth of TaDah Foods?
By 2021, TaDah Foods achieved annual sales of $2.5 million, with total sales exceeding $10 million. Their products were available in 3500+ retail locations across the United States. Furthermore, in January 2023, TaDah Foods secured a significant milestone by having its frozen line products selected for sale at Walmart.
Ongoing Business:
As of February 2023, TaDah Foods’ products were available in prominent retail stores such as Target, Walmart, Whole Foods, Sprouts, Kroger, Publix, Harris Teeter, Lowe’s Foods, and Wegmans. Plans are in motion to expand the product’s availability to the international market.
Conclusion:
TaDah Foods has continued to thrive and grow after its appearance on Shark Tank. With a commitment to high-quality ingredients and unique, flavorful offerings, the brand has gained recognition and a significant market presence. John Soriel’s vision and determination have driven the company’s success, and it remains a successful and growing business as of 2023.
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