Cousins Maine Lobster appeared on Shark Tank on October 19, 2012. My original review of their performance was luke warm at best……
“Jim and Sabin from Cousins Maine Lobster …..They are selling lobster sandwiches from their truck. This is a growing trend…..preparing and selling various foods from trucks and attracting customers via twitter and other social media. They didn’t display very deep business knowledge or expertise. They did get an investment from Barbara who will need to provide lots of her marketing expertise to get this business in high gear.”
I recently watched an interview with the founders and Shark Barbara on CNBC. They are currently franchising their business and have received over 1,000 inquiries from people around the country! Barbara has provided not only a monetary investment (which is still sitting untouched in a company bank account), but her vast Marketing expertise. The company has been doing very well and is poised for explosive growth.
I was very impressed by Jim and Sabin….they have learned so much since the show. One of the things they learned from Barbara was NOT to franchise your business until you have optimized your current operation and have debugged all of the processes required to support the business. Initially, Jim and Sabin wanted to sell franchises before they had a solid business themselves.
This company has proven that with the proper leadership and expertise, the probability of success is dramatically improved. Jim and Sabin have been “like a sponge” and have taken advantage of all of Barbara’s wisdom and advice. Good Job guys!