Fat Shack Net Worth 2024 Update (Before & After Shark Tank)
Fat Shack, a fast food company, was started by Tom Armenti and Kevin Gabauer in 2010. As of March 2024, Fat Shack’s net worth is $14 million and they’re pulling in a whopping $17.5 million in annual revenue in 2023.
In October 2019, they appeared on Season 10 of Shark Tank USA and made a deal with Mark Cuban, $250,000 for 15% equity. The final valuation was $1.6 million, down from the founder’s initial estimate of 3.3 million.
The company is still in business. You can purchase products on e-commerce channels such as their website and Amazon.
Fat Shack Net Worth
| Net worth | $14 Million (2024) |
| Annual Sales Revenue | $17.54 Million (2023) |
| Profits | – |
| Lifetime sales | $22 million (When appeared on Shark Tank) |
| Investor | Mark Cuban |
| Founders | Tom Armenti and Kevin Gabauer |
| Employees | 1-25 employees |
Fat Shack Net Worth Timeline
| Net Worth 2024 | $14 Million |
| Net Worth 2023 | $1.7 million |
| Net Worth 2022 | $1 million |
| Net worth valuation 2019 after appearing on Shark Tank | $1.6 million |
| Net worth valuation 2019 before appearing on Shark Tank | $3.3 million |
Fat Shack Pitch on Shark Tank
| Company name | Fat Shack |
| Product | Fast Food / Junk Food |
| Episode | Season 10 Episode 23 |
| Founders | Tom Armenti and Kevin Gabauer |
| Asked for | $250,000 for 7.5% equity |
| Final deal | $250,000 for 15% equity |
| Shark | Mark Cuban |
| Location | Denver, Colorado, USA |
Don’t miss these product from Season 10
Fat Shack Founders
Fat Shack was founded by Tom Armenti and Kevin Gabauer in 2010. The idea for a late-night fast-food joint came to founder Tom Armenti when he wanted to make money after high school. He stumbled upon a bagel shop near his New Jersey school that closed at 3 pm. Tom negotiated with the owner to let him run his own restaurant from 6 pm to 4 am.
This endeavor was a significant success. Later, Tom moved to Colorado, where his family lived. With the assistance of his college friend Kevin Gabauer, they opened the first fully-owned Fat Shack location. Fat Shack’s founders, Tom Armenti and Kevin Gabauer, have a combined net worth around 11.9 million USD as of 2024.
Key accomplishments
| Year | Accomplishment | |
| 2019 | The company appeared on Shark Tank Season 10 and got the deal from Mark Cuban | |
| 2022 | As of August 2022, they operate approximately 32 locations in 11 different states | |
| 2023 | Fat Shack’s 2023 annual revenue is estimated to grow an impressive 777.1% to $17,543,000 . |
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 Fat Shack and its continued success.
