Many people love cooking their meals. But sometimes even the most basic recipes require a lot of prep work. From measuring ingredients to chopping them, there’s plenty to do before you start cooking. Additionally, you have the mess to clean afterwards. Well, this is where Prepdeck enters the scene.
An all-in-one meal prep system, Prepdeck keeps your kitchen organised, so you have a mess-free setup to work with. Founded by Alexander Eburne, the company appeared on Shark Tank, seeking $750,000 for a 7.5% stake. If you are curious to know what happened on the show, give this post a read.
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About The Brand
Prepdeck is a kitchen organisation system, designed to make meal preparation easier and more efficient. Combining multiple tools in a single convenient system, helps users organise their kitchen and save time.
The product includes a cutting board, storage containers, measuring tools, and waste disposal compartments. Using this gadget, users can prepare ingredients, simplify their cooking process, and keep the kitchen tidy.
About The Founders
Prepdeck was founded by Alexander Eburne, who moved to Los Angeles from Sydney, Australia in search of better business opportunities. His career began in 2000 when he established Zealous Works. Five years later, Eburne joined TGBN Mergers & Acquisitions as a consultant. After changing his job a few times, he became Harbour Outdoor’s CEO in 2009.
Eburne’s personal experience led to the creation of Prepdeck. After marriage, he often left behind a mess while cooking, which his wife had to clean. Things got difficult once his wife became pregnant. This was when Eburne came up with the idea of Prepdeck in 2018. To bring his idea to life, Eburne launched a crowdfunding campaign on IndieGoGo and raised nearly $360,000. In just a couple of years, Prepdeck reached $7.2 million in sales.
What Happened On Shark Tank?
Alexander Eburne introduced Prepdeck to the Shark Tank panel as a meal prep system that makes cooking cleaner, easier, and faster. To demonstrate, Eburne let each shark use a Prepdeck and also shared the sales numbers.
Although some sharks were impressed with Prepdeck’s 69% profit margins, some of them were not convinced. The first to leave the deal was Barbara Corcoran because she didn’t like plastic cutting boards. Other sharks, Mark Cuban, Daniel Lubetzky, and Lori Greiner also passed the deal.
However, Kevin O’Leary offered $750,000 as a loan with 9.5% interest and a 5% stake in the business. In response, Eburne tried to negotiate the offer, but Kevin did not agree. As a result, Eburne left Shark Tank without an investment.
Is the Brand Successful?
After appearing on Shark Tank, Prepdeck did great business, exceeding the 100% growth mark. As per reports, the current net worth of the company is $17 million, which is expected to grow to $30 million in the coming future.
In the next step, the company plans to expand their product line and spread its presence across various countries like the UK, Canada, Australia, and Europe. Also, the company is pushing to make its products available in more retail outlets like REI, Walmart, Target, and Sam’s Club.
