Pan’s Mushroom Jerky from Shark Tank

Pan's Mushroom Jerky shark tank
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When you’re feeling down and low on energy, you look for a quick snack that will curb your cravings. And one snack that is more prominently known is Jerky. Jerky is more commonly made from meat sliced into strips and then dried. But if you’re someone who avoids meat, then Pan’s Mushroom Jerky will be just what you need.

As the name suggests, Pan’s Mushroom Jerkies are made out of mushrooms, shiitake mushrooms. Yes, that’s right, if you have a plant-based diet, you can enjoy this jerky without feeling guilty. Pan’s Mushroom Jerkies are not only flavorful and filling but also a healthier alternative to regular jerky. Besides being vegan, it is also gluten-free.

Mushrooms have become more popular lately, as many people have started adding this plant to their healthy diets. So, it only makes sense why Pan’s Mushroom Jerky is good as a snack.

The product’s original recipe only comprises six ingredients. But the brand has created several different flavors for you to choose from. These flavors include Zesty Thai, Applewood BBQ, Salt and Pepper, Teriyaki, and Curry Mushroom. All these exciting flavors, so you’re never bored of them.

This incredible product was created by Michael Pan, who comes from an electrical engineering profession. Still, a memorable trip to Malaysia changed his life, where the vegetarian Buddhists made him eat mushroom jerky. Michael found it so delicious and healthy that he practiced making the mushroom jerky until he perfected the recipe.

It was in 2018 when he first launched his Mushroom Jerky. The product was very well received by the market, with more than 500 stores all across the nation selling Pan’s Mushroom Jerky, but Michael did not have any big food chains selling his product, which is why he was looking forward to working with a Shark.

Are They An Active Company?

As of 2022, Michael Pan is still selling his vegan jerky alternative through their official website.

How Did The Shark Tank Pitch Go?

Michael entered the Shark Tank in season 12, where he sought an investment of $300000 for an exchange of 10% equity.

He started his pitch rather passionately, talking about why Jerky is an incredible and convenient snack. He then played a video of someone tearing into a jerky. Michael then asked the Sharks to taste the sample jerky he had brought. It was not until they had taken a bite of the Jerky that Michael confessed to the Sharks that the jerky they had tasted was made of Mushrooms. He also introduced his brand’s full name by unzipping his jacket to reveal “Pan’s Mushroom Jerky t-shirt. To say Michael’s pitch was truly remarkable and exciting would be an understatement.

Just like people had been enjoying his snacks, the Sharks had the same reaction, only better. Lori Greiner even said, “I love it even more.”

Michael explained how he got into the business. But when it came to numbers, the Sharks got profoundly excited. He told them his sales were 60% retail and 40% online. In 2019 alone, he had earned over $700,000. While the numbers undoubtedly impressed the Sharks, Lori still believed that the most exciting thing was how good the jerky tasted, so good that Blake had finished all the samples.

But Lori did ask if there was any competition in the market. Michael told her that there are people who have joined the market, but he believed their taste and texture were superior.

As much as the Sharks loved the product, Daymond John was the first to go out. He believed it would take a long time for him to recoup his investment.

Lori and Blake decided to make a combined offer of $300000 but for a total of 30% equity because they believed that they had exactly what Michael needed to blow up this product in the market by especially getting it on the shelves of Starbucks. This was where things started to get overwhelmingly interesting for Michael.

Mark Cuban made his offer, $300000 but only for 20%. The sharks get into a healthy competition to win over Michael. As much as Michael appreciated the offers, he made it clear that he didn’t want to give up too much equity. He asked Mark Cuban if he could lower the equity percentage to 15%, and Mark said 18%. At that moment, Lori decided to go solo and do $300000 for 15%. But Michael decided to accept Mark’s counter offer of 18% equity.

Michael’s company did experience the Shark Tank effect when its sales plunged by over $1 million after the episode aired.

Our Review of Pan’s Mushroom Jerky

We love this company and what it stands for. Pan’s Mushroom Jerky tastes incredible. You will absolutely adore their mushroom jerky if you prefer cruelty-free food options.

Today’s trend of healthy eating is at an all-time high, so this company and its products are relevant and famous; you can have jerky without compromising your health.

Pros of Pan’s Mushroom Jerky

  • A healthier alternative to meat-based jerky
  • The smell and flavors taste like meat.
  • Readily available online and in-store.
  • The website sells jerkies in packs as well.

Cons of Pan’s Mushroom Jerky

We believe the brand is excellent. However, there is one concern we have with the brand: it is made of mushrooms; it is negligent that some people have severe allergies to mushrooms and cannot eat them.

Who Is Pan’s Mushroom Jerky For?

If you’re someone who loves eating jerky but doesn’t like high sodium food, or animal-based food, then this brand is for you.

Are There Any Other Alternatives Available?

There are several options available in the market that sell plant-based jerky. Some of these include the following:

  • Moku Store
  • Bella Sun Luci Store

Our Final Thoughts

We believe that Michael Pan has created a remarkable product that is here to stay in the market, and the support he has received from Shark Tank and Mark Cuban proved how good the product is.

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