Misfit Foods Update – What Happened After Shark Tank

Shark Tank is a long-running reality show that gives entrepreneurs the chance to present their ideas to a panel of established business moguls AKA “Sharks.” If the panelists decide that the idea has good business potential, they agree to invest their time and money for a stake in the business. The ensuing negotiations are just half the fun.

With the inviting possibility of getting funding and help from established business personalities, the entrepreneurs featured on the show are driven, excited, and in a bid to set themselves apart from the competition, sometimes come up with wild ways to pitch their ideas.

Misfit Foods is a promising product featured on season 12 of Shark Tank. Working towards reducing meat consumption and pollution caused by the meat processing industry, the Misfit Foods team showcased a product that is not just good for the health of the consumers but also serves in favor of the environment! We were intrigued by what they were about and how far they had come in their omnivore-friendly-half-meat-half-veggie sausage journey. So we decided to dig a little, and here’s what we found out!

How is Misfit Foods doing after Shark Tank?

It’s been about 3 years since Misfit Foods appeared on “Shark Tank,” and in that time the biggest news is that the company has rebranded. It’s now known as “Phil’s Finest.”

Part of the reason for the rebrand is the company’s history. Phil Wong and fellow Georgetown alum Ann Yang started Misfit Foods in 2014 as a cold-pressed juice company that utilized misshapen fruits and vegetables to make juice. The shift to sausages was in 2019 (via Georgetown Social Innovation and Public Service Fund).

The company changed its name both to give itself a fresh start in the sausage market, as well as to resolve a branding issue (via Nosh).

By the time Misfit Foods/Phil’s Finest appeared on “Shark Tank,” the company had already done $800,000 in sales and was on track to make $1.2 million in its first year (via Shark Tank Blog). Twenty percent of those sales came from the company’s affiliation with Whole Foods, while the rest were online. Phil’s Finest hasn’t shared any sales numbers for 2022 yet, so it’s too early to say whether the company has enjoyed a “‘Shark Tank’ bump.” Since Phil’s Finest’s products remain available at Whole Foods as well as online at companies like Fresh Direct and Good Egg, it’s likely it will improve on those numbers. The biggest complication is the rebrand, so time will tell how much that’s a factor.

At the moment, Misfit Foods offer chicken sausages and ground beef in a variety of spice mixes and flavors. Four packs (4 links each) of assorted chicken sausages will cost you $34.99, and four packs (1 lb each) of ground beef sells for $44.99 on their online store. Ann Yang, one of the founders, currently holds an advisory position with Misfit Foods, while Phil Wong and Dave Betts are listed as co-founders of the company. Misfit Foods is also a registered Public Benefit Corporation, which makes its mission of fighting climate change legally binding.