A sushi chain named How Do You Roll went on Shark Tank in 2013 looking for a $1 million investment in exchange for a 20% share in the business. Yuen and Peter Yung, two siblings, started the business in order to introduce a fast-casual sushi idea to the public. With multiple locations in Texas and California at the beginning, the business was prosperous, but later ran into financial issues.
How Do You Roll declared bankruptcy and shut down all of its locations in 2016. The corporation had over $3 million in debt and was unable to pay its creditors, according to records submitted to the bankruptcy court. The Yung brothers attributed the company’s collapse on a number of factors, such as the high operating costs associated with running a sushi franchise, competition from other fast-casual restaurants, and a lack of support from the franchisor.
Despite its difficulties, How Do You Roll was able to grow its brand thanks to its Shark Tank participation. One of the show’s investors, Barbara Corcoran, made the Yung brothers an offer of $1 million for a 30% ownership in the business. After the show, however, the agreement was broken because of miscommunications over the details.
Barbara Corcoran has invested in a number of other Shark Tank startups in addition to How Do You Roll. One of these businesses is Moink, a meat delivery service with a subscription model that provides premium, ethically sourced meats. Moink has experienced substantial growth after making an appearance on Shark Tank in 2018 and has expanded its product line to include seafood.
As for Barbara Corcoran, she has amassed a sizable fortune thanks to her investments and her prosperous real estate career. Corcoran’s net worth is now assessed to be $100 million by Celebrity Net Worth.
In conclusion, How Do You Roll actually shut down in 2016 after experiencing financial issues and declaring bankruptcy. The franchise, however, was able to attract attention thanks to its Shark Tank appearance, and its creators have now gone on to other endeavors. Barbara Corcoran, who was considering investing in the company, has now moved on to make lucrative investments in other successful companies like Moink.
Kevin O’Leary, better known as Mr. Wonderful, is thought to have a net worth of about $400 million, based on a number of sources. But this information has nothing to do with the issue of whether How Do You Roll closed its doors.