Prime 6 Charcoal’s Journey – From ‘Shark Tank’ to a $35 Million Sustainable Facility in Buckhannon, WV
After securing deal from “Shark Tank,” Prime 6 Charcoal is going to $35 million manufacturing facility
What happens when two New York entrepreneurs pitch a revolutionary grilling product on “Shark Tank”? For Ricky and Oren Franco, founders of Prime 6 Charcoal, it meant securing a deal with Kevin O’Leary and a path to building a $35 million manufacturing facility in Buckhannon, West Virginia.
Their innovative product has captured the hearts of grill enthusiasts and environmentalists alike. Let’s explore their journey from the “Shark Tank” stage to becoming a leading player in the sustainable grilling industry.
Prime 6’s Innovative Approach to Grilling
Ricky and Oren Franco came to “Shark Tank” with a bold vision. They wanted to transform the traditional grilling experience.
Traditional charcoal grilling is often messy, cumbersome, and not environmentally friendly. Prime 6 Charcoal set out to change that narrative.
Their unique product is made from 100% repurposed sawdust, compressed into a hexagonal shape. So it allows it to burn longer, hotter, and cleaner than conventional charcoal.
“Our charcoal is 100% sustainable, all-natural, made solely from repurposed sawdust. Our hexagon shape allows heat to evenly distribute throughout the grill, burning longer and hotter than any other. And the best part? It’s completely reusable. That’s right, when you’re done grilling, simply turn it off, close the lid to choke the oxygen, and let the fire rest. When you’re ready to get back to grilling again…”
In their pitch to the sharks, Ricky and Oren emphasized the sustainability of their product. Unlike traditional charcoal that produces a lot of ash and requires frequent maintenance, Prime 6’s charcoal is designed to minimize waste and cleanup.
Their product is also reusable, providing an eco-friendly alternative that reduces the overall carbon footprint associated with grilling. With these compelling features, Prime 6 quickly caught the attention of the sharks.
The Deal That Changed Everything
On “Shark Tank,” Ricky and Oren asked for $200,000 in exchange for 10% equity in their company. Kevin O’Leary offered $200,000 for a 25% stake instantly.
Kevin was impressed by their innovative approach and potential for direct-to-consumer sales. He saw the opportunity to cut through the noise of traditional retail distribution, which he described as chaotic, and focus on a more profitable online sales strategy.
This partnership with Kevin O’Leary proved to be a game-changer for Prime 6. Within just three months of their “Shark Tank” appearance, Prime 6’s sales skyrocketed from $300,000 to an impressive $1.3 million.
“For each pack purchased, we plant one tree. When we pitched to the sharks, we’ve done $300,000 in sales. It’s only been three months since Shark Tank, and we’ve already done $1.3 million in sales since Shark Tank. We’ve already planted more than 20,000 trees and repurposed 1 million tons of sawdust.”
The rapid growth demonstrated strong market demand for their product and validated their vision of a sustainable grilling future.
Building a Sustainable Future in Buckhannon, WV
As Prime 6 continued to grow, they set their sights on a significant expansion. They chose Buckhannon, WV, as the site for their new $35 million manufacturing facility.
The decision to locate in Buckhannon was strategic. They have chosen the former Novelis property on Moore Avenue, which had closed earlier in the year.
It provided an ideal location for redevelopment and offered a chance to support the local economy by creating 75 jobs.
“Prime 6’s decision to put down roots with their new facility not only carries on that rich tradition but proves we are the best place to be for growing forward-thinking, sustainable businesses. “
Establishing this facility was not without its challenges. Prime 6 had to navigate environmental regulations and logistical hurdles to convert the existing site into a modern manufacturing plant.
However, with the support of Kevin O’Leary and their commitment to sustainability, Prime 6 is well on its way to overcoming these obstacles.
The new facility will significantly increase production capacity, allowing Prime 6 to meet growing demand and continue to lead the charge in the sustainable grilling industry.
A New Chapter for Prime 6
As Prime 6 prepares to open their new manufacturing facility in Buckhannon, they are poised for even greater success. The facility, expected to start operations soon, will create 75 jobs and significantly boost production capacity.
This expansion marks a new chapter for Prime 6, as it continues to grow its market presence. The grand opening of the Buckhannon facility, which is expected to feature Kevin O’Leary, symbolizes a milestone in Prime 6’s journey from a small startup to a major market player.
Featured image credit @ NYC BBQ
