Cousins Maine Lobster, founded by Sabin Lomac and Jim Tselikis, appeared on Shark Tank in 2012. The duo secured a $55,000 investment from Barbara Corcoran after a successful pitch.
Since then, the business has expanded significantly, now boasting a $50 million net worth as of 2024. The company remains privately owned with over 40 food trucks across the U.S. and multiple brick-and-mortar locations.
Cousins Maine Lobster has also raised $833,500 through equity crowdfunding and expanded internationally. Their continued success is attributed to franchise growth and solidifying their place in the gourmet food industry.
Cousins Maine Lobster Net Worth
| Estimated Net worth | $50 million (2024) |
| Annual Sales Revenue | $39 million (2024) |
| Shark Tank Investor | Barbara Corcoran |
| Founders | Sabin Lomac and Jim Tselikis |
| Employees | 69 employees |
Cousins Maine Lobster Pitch on Shark Tank
| Company name | Cousins Maine Lobster |
| Product | Local, fresh, lobster food truck |
| Episode | Season 04 Episode 06 |
| Founders | Jim Tselkis and Sabin Lomac |
| Asked for | $55,000 for 5%Equity |
| Final deal | $55,000 for 15% Equity |
| Shark | Barbara Corcoran |
| Location | Los Angeles, California |
Cousins Maine Lobster Founders
Cousins Maine Lobster was founded by Jim Tselkis and Sabin Lomac in 2012. Jim Tselikis and Sabin Lomac talked about the food they enjoyed in their hometown of Portland, Maine. The bustling food truck scene inspired them in Los Angeles, so they chose to sell Maine lobster in the L.A. area. Cousins Maine Lobster’s founders, Jim Tselkis and Sabin Lomac, have a net worth above 50 million USD as of 2024.
Key accomplishments
| Year | Accomplishment |
| 2019 | They have launched 22 food trucks across the country and established 8 physical restaurants. |
| 2021 | In July 2021, they had a total of 36 franchises. Among these, 7 were restaurants, and 29 were food trucks. |
| 2022 | In March 2022, the company shared that they were adding 3 more food trucks and a new restaurant. The company started its franchise in Asbury Park, New Jersey. |
Conclusion
From their beginnings on Shark Tank to their current status as a thriving business, they have proven that with the right idea and execution, anything is possible. We can’t wait to see the future for Cousins Maine Lobster and its continued success.