Highlights
- Business Concept: FryAway is a plant-based, non-toxic powder that turns used cooking oil into solid organic waste, making disposal easy and environmentally friendly. The solidified oil can be thrown away or composted.
- Entrepreneur Background: Laura Lady, with 20 years of experience in the toy industry, created FryAway after researching solutions for disposing of used cooking oil.
Overview
| Category | Details |
|---|---|
| Name | FryAway |
| Founder | Laura Lady |
| Industry | Home and Kitchen, Environmental Solutions |
| Product | Powder that solidifies used cooking oil for easy disposal |
| Funding | Self-funded |
| Investment Ask | $250,000 |
| Equity Offered | 10% |
| Valuation | $2.5 million |
Laura Lady hopes for an investment in FryAway, her product that turns used cooking oil into into solid organic waste, in Shark Tank episode 1413. Lady worked in the toy industry for 20 years with companies like Mattel, LEGO and others. She’s also an avid cook and likes her fried foods. One day, she was having a discussion about a “fatberg” with her family. The “fatberg” was a huge, 130 ton blob of congealed grease discovered in London’s sewer system back in 2017. This led Lady to doing research on how to dispose of used cooking oil. When the Covid-19 pandemic hit in 2020, she and her family moved to Webster, NH to get away from Massachusetts’ strict Covid guidelines. In her first six months there, she came up with Fry Away.
Used cooking oil that gets poured down drains ultimately clogs things up somewhere, so most people will put it in a container and put it in the trash. This adds even more waste to landfills. FryAway eliminates that problem. It’s a plant based, non-toxic powder that, when added to warm cooking oil, solidifies the oil into a solid, Jello-like material. This can be put right into the trash without a container. You can even compost it!
FryAway comes in three sizes: Pan Fry, which treats up to 2 cups of oil; Deep Fry, which treats up to 8 cups of oil; and Super Fry, which treats up to 20 cups of oil. The products cost $9.99, $12.99 and $15.99 respectively. She has product in over 1100 stores – mostly Kroger’s in the mid west. She also sells on her website and Amazon. The company makes most of their product in Webster, but they have a second facility that makes product for Amazon orders. She likely wants a Shark’s help with increasing production capacity.
Company Information
Video
Posts about FryAway on Shark Tank Blog
FryAway Shark Tank Recap
Laura enters the Shark Tank seeking $250,000 for 10% equity in her company. She did a deal with Mark and Lori for $250,000 for 22%.
FryAway Shark Tank Update
The Shark Tank Blog constantly provides updates and follow-ups about entrepreneurs who have appeared on the Shark Tank TV show.
The first rerun of this episode in June, 2023 is just 3 months after the original air date. At this time, there is no evidence the deal with Mark and Lori closed. One reason could be that this isn’t her invention but rather a copy of a Japanese product called Katameru Tenpuru. The product is available at Kroger, Metro Market, Jaycee Food Stores, Pick and Save,Food 4 Less, Hyvee, Scheels and Meijer stores.
The Shark Tank Blog will follow-up on FryAway & Laura Lady as more details become available.
