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Fat Shack Net Worth 2024 Update (Before & After Shark Tank)

Fat-Shack-Shark-Tank-US-Net-worth-Update

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)
InvestorMark Cuban
FoundersTom Armenti and Kevin Gabauer
Employees1-25 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 nameFat Shack
ProductFast Food / Junk Food
EpisodeSeason 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
LocationDenver, 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

YearAccomplishment
2019The company appeared on Shark Tank Season 10 and got the deal from Mark Cuban
2022As of August 2022, they operate approximately 32 locations in 11 different states
2023Fat 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.

What do you think?

Written by GAG Team

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