Echo Valley Meats entrepreneur Dave Alwan provides some fresh meat in the Shark Tank in episode 426. Alwan is a third generation meat man and butcher. His family owns a popular Peoria, IL grocery store and butcher shop called Alwan and Sons meat company; in 1998 Dave sold his share and started Echo Valley Meats in nearby Bartonville. Echo Valley Meats is an old-school, independent butcher shop that also houses a meat processing facility. Over the years, Echo Valley Meats has expanded to three locations and started offering pre-made meals, catering services, and mail order products. Dave’s mission is to provide his customers with the highest quality meats and he’s looking to expand by opening more “traditional” butcher shops in good locations and by increasing his online sales.
As the recap states, Dave didn’t get a deal in episode 426, but he returns to the Tank in episode 621 in season six to try again. Since he first appeared, he’s completely revamped his website and has a firm grasp on customer acquisition costs. All the Sharks and many on the production staff LOVE his food and order it all the time. Dave wanted to do a deal with a Shark, so he’s back again!
Echo Valley Meats Shark Tank Recap
Episode 426 Recap
Dave introduced the Sharks to his gourmet meats and he brought plenty of samples. Dave’s been in the meat business all his life and wants to expand through eCommerce. The Sharks devour his food, and they all like it, but they have their reservations. Mr. Wonderful LOVES the product, but thinks Dave just wants to use the funds from the Sharks to experiment with online marketing; he just doesn’t see the opportunity to make a return on his investment – he’s out.
Robert’s never heard of Dave, so he’s out too – but he loves the award winning summer sausage. Mark thinks Dave doesn’t understand eCommerce, so he’s out too. Daymond isn’t a big meat eater, so he’s out too. Lori thinks Dave will be successful, but doesn’t think she’ll recoup an investment quickly enough, so she’s out too. Dave leaves with no deal, even though the Sharks had a feeding frenzy on his samples. He leaves more determined than ever.
Episode 621 Recap
The episode 621 segment opens on Dave’s farm. He explains why he didn’t get a deal the first time and shows how he’s learned his customer acquisition costs; he says this time he knows his numbers and he’s going to “blow the Sharks out of the water.”
Dave enters the Tank seeking $150K for 20% of the business – half what he asked for the first time; Dave says he’s here to make a deal. After describing his business again, his son wheels out a cart of samples. Daymond says he remembers the food was delicious; the other Sharks agree and Mark says he orders all the time. The Sharks CHOW DOWN.
Dave explains how his sales exploded; he split the mail order business to a separate entity and did $1.4 million in sales. This time, Dave is only offering the mail order business to the Sharks. He explains further that it costs $12 to acquire a customer, but only $1 to retain a customer. Profits are $260K on the $1.4 million in sales. Daymond says he has his numbers DOWN.
Kevin compares Echo Valley to Omaha Steaks who discounts deeply during the holidays. Dave wants the money to buy when meat prices are seasonally low. Lori says she loves Dave’s story, but isn’t a big meat eater, so she’s out. Kevin offers $150K for 20% if he sells Wicked Good Cupcakes on the site; the caveat is he wants the WHOLE business (retail too). Robert offers $300K for 35% and Kevin counters with $150K for 17.5%.
Mark counters with $150K for 25% of the mail order business with an option to buy into the retail business, but he wants to know NOW. Dave does the deal!
RESULT: DEAL with Mark for $150K for 25% of the business.
Echo Valley Meats Shark Tank Update
Dave Alwan may be one of the single biggest Shark Tank Success Stories of all time. In the weeks following the show, he did over $1 million in sales! Read about his success in the Echo Valley Meats Update post in the interviews section of the site. He also had an update segment episode 503 in season 5.
Echo Valley Meats makes a second appearance pitching the Sharks in episode 621. Dave becomes the third Shark Tank entrepreneur to pitch in the Tank a second time. Rebecca Rescate pitched City Kitty and Hoodie Pillow and James Martin pitched Copa Di Vino – twice. Rebecca got deals both times and James did not get a deal.