Misfit Foods from Shark Tank

Misfit Foods shark tank

Misfit Foods is an environment-friendly food company that aims to reduce meat waste by making plant-based sausages and other beef products. Meat is an unsustainable food source, and with the rapidly growing population, there isn’t an unlimited source of meat. To ensure that we have a meat-based diet that doesn’t contribute to the rapidly increasing demand, Misfit Foods offers plant-based foods as a solution.

Phil Wong founded Misfit Foods as a juice business using misfit vegetables but soon realized that the lack of sustainable meat options was also a growing concern. He concluded that just introducing plant-based meat wouldn’t be enough incentive for people, and they wouldn’t be willing to commit to such a diet.

His solution was to create sausages, beef products, and other items from vegetables and beef. He thought a mixed balance would be better than asking meat-lovers to switch entirely to vegetarianism.

The bestselling point of Misfit Foods is that it provides a better diet option for meat-lovers and reduces the problem of meat sustainability.  It’s fresh, and the flavor is unique. It tastes just like regular meat and is relatively light to consume.

Before coming to Shark Tank, Misfit Foods was available on Whole Foods and selling products on its website. Phil needed a Shark Tank investment to increase his production and distribution.

Are They Still an Active Company?

Yes, they are active and still in business. Their sustainable meat products can be found on their website: Misfits Market.

How Did the Shark Tank Pitch Go?

Phil entered Shark Tank with an initial ask of $250,000 for 5% of his company.

He began his pitch by explaining to the Sharks how sausages were made and gave them each sample of different flavors to try from. Although the Sharks were shocked at the amount he wanted, they still liked the sausages and were impressed with the low sodium content.

Phil then moved to his company’s valuation and profit cost margin. He told them that around 20% of the sales were through Whole Foods and the rest were through their website. The company’s gross margin was shallow, but the profit and the highly reduced marketing cost appealed to the Sharks.

Due to horrible history, Kevin was the first Shark to say he was out. Robert is a vegetarian, so this was automatically a red flag for him; therefore, he was out. Daniel seemed interested and offered $250,000 for 15%. Lori also jumped in with an offer of 18%. Mark then offered to join Daniel on his deal.

Phil countered his deal with $300,000 for the 15%, and the two agreed. The deal was successful, and Phil left the Tank with the needed money.

Our Review of Misfit Foods

We decided to try a few Misfit Foods products and see how they taste.

The good news is that the sausages were very delicious, and they tasted similar to actual beef. The sausages were available in many flavors and had reduced amounts of cholesterol and gluten. They were also a healthier option as compared to authentic beef sausages. It was made from 60% grass-fed beef and 40% vegetables.

Pros of Misfit Foods:

  • Available in many flavors
  • Certified organic products
  • Non-GMO
  • Provide home delivery in multiple cities
  • Their online store allows you to buy all your groceries from the comfort of your home
  • Tastes similar to regular meat

Cons of Misfit Foods:

  • Might not be a good substitute for meat-lovers
  • Comes in sausage packs only. They don’t have individual sausages available if people want to try them first
  • Contains a portion of meat, so it isn’t vegetarian or vegan

Who Is Misfit Foods for?

Misfit Foods is perfect for people who love meat and are aware of its cons as well. This gives them a midpoint to do both things that they want: have a more plant-based diet and enjoy their food.  It’s also an excellent option for people who want to try becoming vegetarian; this can help them slowly switch to an entirely plant-based diet. This meat is also high in protein, making it a healthier option.

Are There Any Alternatives?

Beyond Meat Plant-Based Jerky, Teriyaki is an excellent alternative to the Misfit Food meat. It is a plant-based meat option and is very healthy. The “meat” is made from peas and mung beans and doesn’t contain any GMO, soy, or gluten. It’s available in many flavors and has a garlicky sweetness to its teriyaki flavour.

This teriyaki is available in both packs of 10 and as a single pack. The meat is marinated, roasted slowly, and cooked further to give the meat its tangy and juicy taste.

However, this is slightly different from the beef at Misfit Foods as this is entirely made from plants. This jerky is vegan-friendly and is a perfect option for them. Some people have found the teriyaki flavour more sweet than tangy, but there have been many positive reviews. There is also some concern about the price being too high, but vegans have claimed that this is worth it for them.

Our Final Thoughts

Although most people are concerned about the taste when eating this hybrid meat, Misfit Food is a good alternative for people who enjoy eating meat but know it is bad for them. Since this product is packed with protein and doesn’t contain soy or GMOs, it’s much healthier to drink. On top of this, the similarity to regular meat makes it even more exciting to eat and use in various dishes.

In many ways, though, Misfit Foods beef has a different taste than regular beef. People who are passionate and knowledgeable about different kinds of meat might not enjoy it entirely, but it does the job of providing energy while being relatively healthier.