Project Pollo Net Worth 2024: Project Pollo, founded by Lucas Bradbury in 2020, was a vegan fast-food chain that reached a $50 million valuation during its Shark Tank appearance, generated $10 million in lifetime sales, and operated 12 locations across Texas before being acquired in April 2023 and subsequently closing all locations by summer 2024.
Key Facts About Project Pollo
- The plant-based chicken chain launched in San Antonio, Texas during 2020 as a food truck operation.
- Founder Lucas Bradbury scaled the business to 12 locations within two years.
- The company sought $2.5 million for 5% equity on Shark Tank, valuing the business at $50 million.
- Project Pollo generated $10 million in lifetime sales before acquisition.
- A national franchise group acquired the company in April 2023.
- All locations permanently closed by summer 2024.
What Led to the Creation of Project Pollo?
Project Pollo emerged during the COVID-19 pandemic when founder Lucas Bradbury identified an opportunity to create sustainable, plant-based fast food options. With his extensive background in restaurant operations from Pizza Hut, Dunkin Donuts, and Papa John’s, Bradbury launched the concept from a food truck at a local brewery in San Antonio, Texas.
Who is Lucas Bradbury?
Lucas Bradbury built his expertise in the food service industry from the ground up. A Kansas State University economics graduate, he worked his way through various restaurant management positions before becoming Vice President of Operations at Earth Burgers in 2017. His vision for Project Pollo stemmed from his belief that fast food could be both sustainable and affordable.
What Made Project Pollo Different from Other Fast Food Chains?
Project Pollo distinguished itself by offering plant-based versions of popular chicken dishes using soy-based proteins. The restaurant focused on sustainability through compostable packaging and non-GMO ingredients. Their menu featured hand-breaded chicken alternatives in sandwiches, nuggets, wraps, and buffalo macaroni with vegan cheese.
How Did Project Pollo Perform on Shark Tank?
In May 2022, Bradbury pitched Project Pollo on Shark Tank’s Season 13 finale. Despite impressing the Sharks with the food quality, his request for $2.5 million for 5% equity raised concerns. The Sharks, including Barbara Corcoran and Kevin O’Leary, worried about the aggressive expansion rate and high valuation. None of the Sharks invested, with several citing concerns about sustainable growth.
What Happened After Shark Tank?
Following the Shark Tank appearance, Project Pollo continued its expansion efforts but faced significant challenges. The company attempted several strategic moves including hiring former McDonald’s and Chipotle executives. They launched Side Chicks, a companion chain serving both real and plant-based chicken, and explored retail opportunities with frozen chicken products.
Why Did Project Pollo Close?
The rapid expansion strategy ultimately proved unsustainable. By early 2023, the company began closing locations and scaling back growth plans. In April 2023, a national franchise group acquired Project Pollo, leading to widespread location closures. By summer 2024, all Project Pollo and Side Chicks locations had ceased operations.
What is Project Pollo’s Financial Legacy?
At its peak, Project Pollo demonstrated significant potential with $10 million in lifetime sales. Individual locations achieved weekly sales reaching $23,000. The company maintained a $50 million valuation during its Shark Tank appearance and successfully expanded to 12 physical locations before its decline.
What Lessons Emerged from Project Pollo’s Journey?
The Project Pollo story highlights the challenges of rapid scaling in the restaurant industry. Despite strong initial success and innovative concept, the company’s aggressive growth strategy outpaced its operational capabilities. The experience reinforces the importance of sustainable expansion in the competitive fast-food market.
What is the Founder Doing Now?
Lucas Bradbury has transitioned to new ventures, serving as president of Houston Street Hospitality and founding Sprouted Venture, an investment group focusing on sustainable and environmentally conscious startups in the hospitality sector. His experience with Project Pollo continues to influence his approach to sustainable business development.
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