4. Big Shake’s Hot Chicken: The one that got away?
Shawn Davis, who goes by the name “Chef Big Shake,” came on “Shark Tank” in 2011 looking for $200,000 to get his shrimp burgers into wider retail distribution. The Sharks passed on the deal, but deep-pocketed angel investors were watching the show and Davis’s appearance generated interest and dollars. Gradually, he was able to get the shrimp burgers into 15 supermarket chains in 2,000 outlets across 26 states. Annual revenue hit $5 million, and Shark Mark Cuban admitted in an interview that passing on Chef Big Shake was a mistake. At the time, Davis wasn’t thinking of launching a restaurant concept, but in 2014, he used some of his profits to open Big Shake’s Hot Chicken in Franklin, Tenn.—jumping in early on the Nashville hot chicken trend. Able to procure more venture capital, he aims to grow the fast-casual chain in 2017, although an indictment for tax evasion late in 2016 may hamper his plans.