What Happened To Oilerie After Shark Tank?
Most people who enjoy cooking know the intrinsic benefits of consuming olive oil. Having a bottle on hand next to your stovetop range or readily available in your pantry is generally the norm, but what about an olive oil bar? Would you willingly venture to a storefront dedicated to the sampling of rare olive oil varieties?
In 2014, Curt Campbell went on a mission to convince America and the famous entrepreneurs of "Shark Tank" that the emerging olive oil bar concept was worth a hefty investment. Campbell opened his first hand-bottled Oilerie in 2003 and upon the airing of episode 604, had a total of seven olive oil storefronts in five states (per The Shark Tank Blog). His goal of being on "Shark Tank" was to receive funds to cultivate a solid "management team and cash for inventory" so he could add more locations nationwide (per Green Bay Press Gazette.).
At the time of Campbell's appearance on "Shark Tank," he was making close to $1 million with a 65% profit margin at his original location in Fish Creek, Wisconsin. The budding entrepreneur was sourcing his oils from the Lazio province in Italy and worked closely with olive oil producer Adriano Mantova. He took a chance by asking the Sharks for $500,000 for 35% of his business.
What did the Sharks think of the Oilerie?
Campbell was prepared to convince the investors why they should always own more than two types of olive oil as he passed out sample varieties to the Sharks and delved into the $3.1 million he had made on his franchise system in the last few years (via The Shark Tank Blog). While most of the judges appreciated Campbell's earnest business goals, not one judge was convinced enough to pass over the requested cash.
Lori Greiner didn't love that Campbell lacked a firm presence in the franchise locations, and Kevin O'Leary called the business a "mid-market" venture, claiming the olive oil novice only saw success because there weren't other options in the areas surrounding his franchises (per The Shark Tank Blog). Campbell left the show with tears in his eyes and no deal in his pocket.
In the "Shark Tank" update which aired in 2016, Campbell admitted he didn't take the news well at first and suffered through a few dark months before realizing how dedicated he was to the business he and his wife created back in 2003 (per ABC via YouTube).
Where is the Oilerie now?
The Wisconsin-based entrepreneur decided to learn from the "Shark Tank" experience and continued on with his Oilerie business. According to The Shark Tank Blog, as of 2021, Oilerie was producing $5 million in revenue each year. The Oilerie website is up and running, and you're able to shop the business's extensive line of balsamic vinegar, oils, and various spreads and snacks. You can also learn about the differences between regular and extra virgin olive oil by watching one of the many educational videos Campbell has posted on his website. Campbell's social media accounts have also remained active over the years, and the company has even released some unique products like avocado toast seasoning for last year's Cinco de Mayo celebration (via Twitter).
The Shark Tank Blog concluded its synopsis of the business by claiming Campbell had opened six franchise locations, the only additional location listed on the Oilerie website apart from the Green Bay location, is the one in Sun Valley, Wisconsin (via Oilerie). The Oilerie location in Woodlands, Texas closed last year, and so did the Burien, Washington location (via B-Town Blog) and the Fish Creek store in Wisconsin (per Facebook). While sales may have been affected by the COVID-19 pandemic, Oilerie still appears to be an active, fruitful business online.