PhoLicious Foods Shark Tank Latest Update (Season 16)

Husband and wife team Joseph Trousdale and Anh love Vietnamese pho. When they searched for authentic pho, they realized that the options available in the market lacked good taste and quality. To solve this problem, they founded PhoLicious Foods in 2021, offering instant pho kits made with real broth and high-quality ingredients.

After a few years of success, they appeared on Shark Tank Season 16, seeking $500,000 for 10% equity at a $5 million valuation. They eventually secured a deal with Kevin O’Leary, who invested $500,000 for a 15% equity stake.

Who Is The Founder Of PhoLicious Foods?

PhoLicious Foods was founded in 2021 by husband and wife Joseph Trousdale and Anh Trousdale.

After completing his Business Management studies at the University of Missouri-Saint Louis, Joseph worked in several hotels and later served as a General Manager at Texas Western Hospitality, Pillar Hotels & Resorts, and Crestline Hotels & Resorts for a few years.

His wife, Anh, studied Nursing at Saint Louis University and worked as a nurse in a hospital.

How Was The Shark Tank Pitch Of PhoLicious Foods?

Joseph and Anh pitched their Vietnamese instant pho business on Shark Tank, using Anh’s mother’s secret recipe.

They let the Sharks taste their pho and explained that their instant pho kit includes cinnamon, cloves, star anise, fennel, and coriander. They also shared the pricing details, stating that the retail price is $5.48 per bowl, the manufacturing cost is $1.75, and the wholesale price is $3.89.

Joseph revealed that they have their own 47,000-square-foot food manufacturing facility on lease, which allows them to handle production and distribution while maintaining the quality of their products.

Anh shared that, in the early days, they struggled to find investors. To fund the business, they sold their house for $250,000 and lived in a camper for two years with their four children and two dogs.

Joseph also discussed their impressive sales growth, mentioning that from May to December 2021, they generated $68,000 in direct-to-consumer sales. In 2022, their sales increased to $438,000, followed by $2.1 million in 2023. For 2024, they expect sales to reach between $5 million and $6 million, with a current profit of $390,000 so far.

Their products are now available in major retailers, including 240 Sam’s Club stores and 250 Walmart stores, with each store selling an average of 30 bowls per week across all three flavors nationwide.

During the negotiations, Kevin O’Leary offered $500,000 for 20% equity and promised to triple their distribution within 60 days.

Daniel Lubetzky matched Kevin’s offer with the same terms. Lori Greiner and Robert Herjavec agreed that these were strong offers and decided to opt out, while Mark Cuban said the business was not a good investment for him and also bowed out.

Joseph countered both Kevin and Daniel’s offers with $500,000 for 12% equity, but in the end, they struck a deal with Kevin O’Leary for $500,000 in exchange for 15% equity.

PhoLicious Foods Shark Tank Update

After this episode of Shark Tank aired, we explored the company’s website for more information. We discovered that their products are not only available at Walmart and Sam’s Club but are also being sold in H-E-B stores across Texas and Mexico, as well as on Amazon.

Additionally, the company has launched PhoLicious Instant Pho Pouches in three different flavors, priced at $4.66. They also have plans to introduce a Premium Instant Bowl by March 2025.

When this episode aired on January 17, 2025, the company’s website received approximately 15,000+ visitors. If even 50% of them made a purchase at an average price of $25, the estimated sales from that single day would have been around $187,500.