Whatever Happened To Fried Green Tomatoes After Shark Tank?
Fried green tomatoes may be a Southern delicacy, but are they enough to tickle the tastebuds of the money-hungry sharks? Entrepreneur and restaurant veteran Holly Cooper believes so, appearing on Season 11 of "Shark Tank" to pitch her food truck business Fried Green Tomatoes.
Cooper's service provides fresh-to-order fried creations such as catfish sandwiches, shrimp po boys, bacon lettuce fried green sandwiches, and their renowned fried green tomatoes. Many of their offerings are accompanied by their trademark secret sauce. On top of that, they also sell batter mixes at various retail locations. The Tennessee native held a long career in the food industry prior to Fried Green Tomatoes. She owned a cafe for nearly 20 years before selling the company and moving into sales for various industries.
After losing her job, Cooper chose to open her own business. Noticing the rising popularity of food trucks, she chose to open up her own, knowing how valued her recipes were with friends and family. The truck was first unveiled at the 2012 Wilson State Fair, and it became an immediate success. In 2016, Fried Green Tomatoes started selling their batter and sauces to retailers nationwide, ending up in around 600 mostly boutique locations. With offers coming her way for franchising opportunities, Cooper believed that the time was right to bring a shark on board.
What happened to Fried Green Tomatoes on Shark Tank?
Holly Cooper was the first entrepreneur to be featured on the May 1, 2020, Season 11 episode of "Shark Tank," asking for a $200,000 investment for 15% of her company, Fried Green Tomatoes. Things start off well, with the sharks loving both Cooper's delightful personality and her delectable products. But the $1.3 million valuation may be a bit tougher to swallow.
Cooper reveals that customers are willing to wait over an hour for their food when they're at events. They can rake in anywhere from $600 to $800 an hour. The batter that they sell at retail stores sells for $8.99 and costs $1.28 to make. However, in the last year, they only brought in $268,000. However, Cooper has a new truck she hopes will drive up business and hopes to get a shark's help in franchising and expanding to bigger retail locations.
The sharks start weighing in from there. Mark Cuban and Kevin O'Leary love the food and Cooper's accomplishments, but neither thinks that the business is investable yet. Likewise, Lori Grenier enjoys the product but can't see herself selling deep-fried food. Both Barbara Corcoran and Daymond John come in with offers, both willing to give the $200,000, but they want a 30% and 25% stake respectively. Corcoran is Cooper's dream shark in large part thanks to the investor's success with Cousins Maine Lobster. She tries to see if Corcoran will go to 25%, but she refuses and Cooper takes the initial offer.
Fried Green Tomatoes after Shark Tank
Barbara Corcoran was thrilled to work with Holly Cooper and Fried Green Tomatoes, with the investor sharing on Twitter, "Score! I'm thrilled to finally share my partnership with Fried Green Tomatoes with the world. If you've been drooling this whole pitch – drool no more!" One of Corcoran's first actions was getting Cooper and company in touch with Jim Tselikis and Sabin Lomac of Cousins Maine Lobster, who recommended that they limit their number of trucks to focus on working through the logistics of their business. Each subsequent rerun has brought in a healthy uptick in sales.
The COVID-19 pandemic saw its fair share of hurdles for the company, including the closing of the Wilson County Fair; this marked its first shutdown in over a century. Cooper was able to meet the challenge by taking their truck into various neighborhoods. Not only did it keep them afloat, but it resulted in their best year yet. "Barbara was surprised that we had our top sales that year," Cooper said in an interview with Tasting Table. "The Wilson County Fair is typically a $45,000 dollar show. We have many shows that are $15 to $20,000 shows. So when you don't have those, you've got to really figure out how you're going to make up for it. For us to be able to still come out with the numbers we did, it was pretty amazing."
Cooper got support in other areas as well. Her daughters helped with organization and finances. She also received a supportive call from Fannie Flagg, author of the 1987 novel "Fried Green Tomatoes at the Whistle Stop Cafe," which was later adapted into the 1991 two-time Oscar-nominated film — a favorite of Cooper's.
Is Fried Green Tomatoes still in business?
Fried Green Tomatoes remains in business, but their reach is still relatively limited. Currently, you can order their secret sauce, fried pickle batter, and fried green tomato batter on their website. Cooper stated on "Shark Tank" that their products are available at 600 retailers in 42 states, but there doesn't seem to be a store locator on their site to pinpoint these locations.
To get a taste of their trademark delicacies, you'll have to make your way over to Tennessee where the company is still prominent in various farmers markets and local events. This includes the Wilson County Fair, which they've now been selling at for 11 years. In 2021, Fried Green Tomatoes announced a brick-and-mortar location in Lebanon, Tennessee, which appears to be operational as it is featured on various Wilson County tourist sites.
Along with growing her business, Holly Cooper has also been passionate about giving back to the community. Her company began a partnership with the Tennessee non-profit Rest Stop Ministries, an organization committed to aiding victims of domestic sex trafficking. Fried Green Tomatoes works with the organization and their various outlets to distribute their products all while giving residents of the program the opportunity to work in a safe environment and earn an income.
If you or anyone you know has been a victim of sexual assault, help is available. Visit the Rape, Abuse & Incest National Network website or contact RAINN's National Helpline at 1-800-656-HOPE (4673).
What's next for Fried Green Tomatoes?
Holly Cooper's business had taken some major steps since their time on "Shark Tank." From defying the odds during the COVID-19 pandemic to giving back to their community, Fried Green Tomatoes has fought hard to prove their merit. Still, one of Cooper's primary goals expressed on "Shark Tank" was to franchise Fried Green after getting multiple offers elsewhere. While the company may not have the reach they've envisioned as of yet, progress is being made.
In 2022, Cooper and franchise development partner Jeff Alexander announced that they'd be working with the North Carolina-based consulting company Franchise Genesis to explore new opportunities. "There was no comparison to anyone else," Cooper shared in a testimonial video. "I didn't even get a PowerPoint presentation from anyone else, so I was very comfortable, I felt very good about what they offer and they spoke thoroughly about what they were going to be able to do for me and how they were going to help me grow my business." The Fried Green Tomatoes website also has a page for potential franchising partners, although there are several states where they are unable to expand.
The team has been looking to open up their horizons in other areas as well. They aim to diversify their retail line to include such items as barbecue shrimp sauce and chicken fry. Cooper also hopes to appear on a future "Shark Tank" update segment and a Summer Fancy Food Show from the Specialty Food Association.