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Reely Hooked Fish Shark Tank Update

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Have you caught fish in a boat and made a dip out of it? Why don’t you try the Reely hooked fish dip that is made from natural ingredients from Florida? This dish is made from a proprietary formula and has an authentic taste texture and flavor.

The technique to crack the flavor of the dish is due to immersion of the fish in their special brine from which the fish is then smoked. The trick behind the food is the process by which it is made.

Reely Hooked Fish Dips at a glance:

IdeaFresh Healthy smoked fish dips
FounderJames Arcaro and Steve Markley
Asked for$75,000 for 25%
Accepted deal$75,000 for 25%
SharksMark Cuban
Business statusOut of business
EpisodeSeason 9 Episode 11
Website Reely hooked fish
Reel hooked fish dip at a glance.

Index:

Founder Story:

The creators of the dip are the entrepreneurs’ Steven Markley and James Arcaro. The dish is created by catching the fish and then using traditional family techniques to make the dish. The two types of fish that are used to make the dip are amberjack and kingfish which are also their specialty dip. These fish are caught in the waters near Fort Lauderdale.

Did Reely Hooked fish dip get a deal on shark tank?

The two fishers were here to fish a deal. They were seeking an investment of $75,000 for a 25% stake in the business. This made the valuation $300,000. The two of them narrate their story of the product and how they make it and distribute the samples. The next thing they talk about is business after giving a description of the ingredients used in the product.

They have done $10,000 in sales in the last 3 months. They sell their product in one small store and three craft breweries. The cost to make each container is $4.50 and retails for $12. If the fish is caught in large quantities, they can reduce the cost of making it even further.

The investment will be used by the entrepreneurs to run the business full time and build a better facility for the manufacturing of the product. Daymond is the first one to go out as the places they sell the product according to him are insufficient. Lori on the other hand believes that the dip is delicious but doesn’t see how to scale up the product.

Robert believes the product has a downside in sales therefore he is out. Kevin doesn’t believe in the valuation therefore he is out. Mark asks them whether they can do $1000 per week, and the answer is absolute, Mark makes an offer to the two of them which is $75,000 for 25%, and the deal is accepted.

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What happened to Reely Hooked fish dip after shark tank?

The business had a hard time branding. After their appearance on shark tank, they have added a Mark Cuban company to their business name. The shipping of the product and catching of new products for the dish was difficult, therefore they could not do much in terms of sales.

They were able to add as a product in many retail stores and be part of places like Lueken’s wine and spirits, Bad fins food +brew, sweetest Knights Key west, etc. The page Facebook has not been updated since July 2019, the website is no longer available. The LinkedIn page States that the owner Steven Markley has opened a pool service firm in July 2019.

Product:

  • The product is made from natural ingredients
  • The ingredients are local to Florida
  • The fish caught for the dish is prepared under a special process for the dish
  • The dish is made of two specialty fish the amberjack and kingfish

The process of creating the dish follows these steps:

  • Captured fish is stored on ice and transported to the plant.
  • The plant is where the fish is expertly cleaned and filleted.
  • The fish is then immersed in a special brine.
  • Smoking is next for lengthy amounts of time.
  • The taste of the product is authentic.
  • Greek yogurt is used as a base compared to Mayonnaise as this has more protein and fewer calories.   

What is the net worth of Reely Hooked Fish Dips?

When the two fishermen came to shark tank their business was valued at $300,000.

Is Reely Hooked Fish Dips still in business?

Currently, the business is not functioning, which means the company is out of business as of today. The company owner Steve has opened a pool service firm in July 2019.

The big catch for the fisherman was not a success as this company saw its end in July 2019. The company was able to reach many retail stores but could not make the sales due to a lack of management in the supply chain of the raw material.

Reely Hooked Fish social links:

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FAQs:

What is Reely Hooked Fish?

Reely Hooked Fish is a Fresh Healthy smoked fish dips.

Who founded Reely Hooked Fish?

The creators of the dip are the entrepreneurs’ Steven Markley and James Arcaro. The dish is created by catching the fish and then using traditional family techniques to make the dish.

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