In this success story of Shark Tank season 16, and episode 16 as well, we’re going to cover a sustainable brand that is making this world a better place, one coal at a time.
Pitch Summary
- Prime6 appeared on Shark Tank Season 12 and Riki and Orion – the husband-wife duo ran the show with their company, Prime6.
- The company specializes in creating coal from wood that is more sustainable and eco-friendly for the environment. To know more about their product, click here.
- They secured a deal with Kevin, as he offered them what they asked for – $200K for 25% of the company.
Solving a Major Problem
There are a number of problems we see every day, but don’t react to them since we don’t think that much about them. However, when we start thinking about them, great things happen, as happened on the Shark Tank several years ago.
The husband-wife duo saw a really big problem. Although there was rarely a way they could find to stop people from cutting trees, they thought why don’t they create coal out of it?
You may say that everyone can make coal out of wood and what is so special about it? Well, the special thing about their coal was first, it was eco-friendly, and secondly, they created it out of recycled hardwood and sawdust.
Lastly, the coal they created fired up for longer periods of time than the traditional coal we find in the market.
You may also like : Jane Foodie Shark Tank Final Deal – SE16EP16
How Did They Perform Before and After Appearing on Shark Tank?
I wouldn’t say that their numbers or their idea had generated awful results before appearing on the shark tank. If that had been the case, there is no reason on earth that they would have been successful in getting a deal from Kevin.
However, after appearing on Shark Tank, their business has totally grown leaps and bounds. Before appearing on Shark Tank, they had only managed to secure $300K in sales. However, they have now done $6.5M in sales after their pitch went on-air.
Their Commitment to the Society
Great companies are those that don’t forget their roots. Now, after becoming one of the best companies working for sustainable objectives, Prime6 is leading the race and giving back to society. For their every sale, they are committed to planting a tree, and realizing their goal, they have planted over 120K trees.
Not just this, they are also focused on creating new jobs for the society and recently, they have opened a new manufacturing plant with the help of the government of West Virginia and have provided the community of Fairmont with 150 new jobs.
Moving on, Prime6 is now fully focused on investing in a $35M facility and a production unit for their manufacturing processes – something that would take their company to new and better heights.
You may also like: GoodLove Foods Shark Tank Review Update
The Financial Assumptions
Even though I had a little data – the updated one to get the required numbers to perform an analysis, I had done extensive research for this purpose. Keep in mind that while crunching these numbers, I could’ve made a mistake or the company may not perform as per my numbers.
Anyway, let’s see how Prime6 is going to perform in the years to come.
2025
- Revenue: $65 million
- Gross Margin: 55%
- Gross Profit: $35.75 million
- Operating Expenses: $20 million
- Net Profit: $15.75 million
- Opened a $35M manufacturing facility in West Virginia
- Retail presence in 6,200+ stores
- Strong post-Shark Tank brand momentum
2026
- Revenue: $85 million
- Gross Margin: 57%
- Gross Profit: $48.45 million
- Operating Expenses: $24 million
- Net Profit: $24.45 million
- Increased manufacturing efficiency
- Product expansion: fire logs and fire starters gain traction
- Stronger e-commerce and wholesale distribution channels
2027
- Revenue: $110 million
- Gross Margin: 60%
- Gross Profit: $66 million
- Operating Expenses: $30 million
- Net Profit: $36 million
- Entered international markets (Canada, UK, EU)
- Gained recognition as a premium sustainable grilling brand
- Strategic retail partnerships increase shelf space
2028
- Revenue: $140 million
- Gross Margin: 62%
- Gross Profit: $86.8 million
- Operating Expenses: $38 million
- Net Profit: $48.8 million
- Launch of private-label partnerships with supermarkets
- Seasonal bundles and grilling kits were introduced
- Further automation reduces production costs
2029
- Revenue: $175 million
- Gross Margin: 65%
- Gross Profit: $113.75 million
- Operating Expenses: $45 million
- Net Profit: $68.75 million
- Dominates eco-friendly charcoal market in North America
- Introduces a subscription model for recurring buyers
- Becomes an acquisition target for major grilling or home goods brand
You may also like : Joyebells Shark Tank Review Update – S16E11
