Have you tried the new fusion food truck in town! Well, if not Then come on down to Chilantro. The perfect amalgamation of Korean and Mexican food at your doorstep. Having started the business in 2010. This food truck has made a long journey and has covered many terrains to reach where it is now.
The proud and Korean-born founder of this enterprise on wheels is none other than Jae Kim. He started off with a single truck where he experimented day and night to bring to you the much-awaited delicacies on offer. Now with the dream of expansion, he never stops.
Chilantro at a glance:
| EPISODE NO. | Season 8 Episode 8 |
| BUSINESS IDEA | A perfect amalgamation of Korean and Mexican food at your doorstep. |
| FOUNDER | Jae Kim |
| ASKED FOR | $600,000 For 15% |
| ACCEPTED OFFER | $600,000 For 20% |
| SHARK | Barbara Corcoran |
| BUSINESS STATUS | In Business |
| WEBSITE | CHILANTRO |
Index:
Founder Story:
The journey began with a dream to create something different. Jae Kim wanted to introduce Korean BBQ to the barren tasteless lands of Texas, Austin, that is how Chi’lantro was born. The idea took up all his savings and credit cards the CEO ever had, but all was well worth for the enterprise as they strived for success in the end.
The initiative started with only a food truck and today it has expanded to catering as a branch spread across three outlets, the classic menu, events, and the food truck. Jae Kim also wants a restaurant of the same fusion concept, to keep customers on their toes.
Did Chilantro get the deal on Shark Tank?
The chef behind the delicacies of Chi’lantro -Jae Kim finally came to the shark tank after repeated attempts three times in 2013 seeking an investment of $600,000 for a 15% equity business and had the sharks love his fusion food concept. This pitch was by far the most enjoyable pitch on the shark tank. Each shark loved the presentation and got to learn something new along the way.
The much-awaited Chi’Lantro tried for 4 years before coming to the shark tank and the first thing the owner Jae Kim said was” Yes I am finally here”. This was a moment of surprise for the sharks. Kim next told the guest shark Chris Sacca to help him make a Korean BBQ bowl which was the highlight of the pitch.
After running through the ingredients, making the dish, and finally serving. Kim talks about the hardships he faced in his childhood with his mother being divorced the numerous challenges he encountered when he started the business.
He was proud of where he was and stated that “I envision a Chilantro empire”. The reaction he got from the sharks was rather interesting. The next questions were easy as cake to answer as Kim gave them the figures of the business.
Next is the battle is on between the sharks. Starting with Kevin who doesn’t like the idea of a restaurant on wheels and questions himself about where he is investing exactly. Mark is truly inspired by and enlightened by the work ethic of Kim but tells him “He is not a restaurant guy so he’s out”. Lori comes up to say that she thinks” he is over-ambitious”.
Finally, he got to fulfill his dream with the help of Barbara, who offered him $600,000 for 30% to which he countered 20% and he finally sealed the deal with Barbara.
What happened to Chi’Lantro after Shark tank?
The growth for this food truck was indefinite after the deal. The waft of Korean BBQ spread far and wide and so did their recognition. With the help of his trusted mentor Barbara, the CEO is today proud of where he stands with over 8 restaurants and a fleet of food trucks. He thinks he is at the top of his game.
The business sustains the sale of its products. The truck has been seen in many shows with founders like Food and Wine cooking channel and Food network.
The sales before the shark tank pitch was not known and after the shark tank pitch, it was close to $13-15 million which is a major difference. The sales were done through restaurant and food trucks and nearby pop stores in the area. The valuation changed exponentially from $3million to $15 million in the year 2016 to 2021. Revenue has changed from $4.7 million to $15 million in the years 2016 to 2021.
The best seller for the food truck is probably the original kimchi fries. This dish is comprised of more than just what the name suggests. From fries to Korean BBQ meat and caramelized kimchi topped with herbs and sesame seeds with homemade sauce. The dish is as appetizing as it sounds.
The other products on offer are Korean bowl, kimchi fries, Korean fried chicken wings, and many more. The events have a variety of dishes to try out from even the food truck and the classic menu should not be missed out.
Interesting Aspects:
- The company Offers a Gift card facility.
- The price for gift card ranges from $10 to $250
- Jae Kim started the business with only $30,000 from his own money.
- Chi’Lantro the name comes from the combination of words kimchi and cilantro.
Chi’Lantro net worth:
At the time of the shark tank appearance, Chi’Lantro was valued at around $3 million. The valuation changed exponentially from $3million to $15 million in the year 2016 to 2021.
Is Chi’Lantro still in business?
The company is on the roll and on the way to new places. It started off as a restaurant on wheels and ended up as an established business empire. Building pop-up shops and the owner plans to open a franchise program for the same. We can’t say where the adventure will take it next!!
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What is Chilantro?
Chilantro is a perfect amalgamation of Korean and Mexican food at your doorstep.
Who founded Chilantro?
The proud and Korean-born founder of this enterprise on wheels is none other than Jae Kim. He started off with a single truck where he experimented day and night to bring to you the much-awaited delicacies on offer.