FryAway is a plant-based product that converts frying cooking oil from liquid to solid. FryAway is made from plant based natural oils and nontoxic materials so it is completely safe. Oil can be easily removed with this product without damaging the pans
The company was officially launched in 2020 by Laura Lady, the founder and CEO of FryAway Company. Laura likes fried foods very much because fried foods are very tasty and crunchy, but frying is messy. Generally, people fill the frying oil in plastic bags, jars, and jugs and throw it in the drain, etc.
One day as she was discussing “fatbergs” with her family, Laura started doing her research on disposable cooking oil. After a lot of research, FryAway was born.
There are many people who think that after filling the cooking oil in the drain, it will disappear, but it does not happen. In the end, it becomes a big problem.
There are some people who fill the cooking oil in plastic containers and glass jars and throw them in landfills, this is not a good idea. To solve this problem, FryAway has brought plant-based powder.
Laura Lady Appears On Shark Tank Season 14 Episode 13 With Her Product And Asks The Sharks For $250,000 for 10% equity at $2.5 Million Valuation. Laura has invented a great product that solves real problems and also benefits the environment.
What Is FryAway?
FryAway is a plant-based non-toxic power that converts cooking oil from liquid to solid. Cooking oil after converting to solid has a jelly-like appearance and feels jelly-like to the hand.
This non-toxic power comes in 3 varieties pan fry, deep fry, and super fry. Pan fry should use 2 cups in 0.5 liters, deep fry should use up to 8 cups in 2 liters of oil. For more information please visit the FAQ page.
Add power to the fried cooking oil and leave it to cool, after some time the oil will become solid. After being solid, fill it in the trash, it can also be composted.
The product is available on Amazon, company website as well as 1180+ independent stores. The cost of the product is $9.99, $12.99 & $15.99.
|Product||A power that converts oil into solid|
|Asked For||$250K for 10% equity|
|Final Deal||$250K for 22% equity|
|Shark||Lori Greiner||Mark Cuban|
|Episode (Shark Tank USA)||S14 E13|
|Air Date||Jan 27, 2023|
|Business Status||In Business|
|Headquarters||Concord, New Hampshire, US|
|Lifetime Worth (Sales)||$1M *estimated|
|Buy and Watch||Buy Now||Amazon Prime|
Another Shark Tank Pitch
Who Is The Founder Of FryAway?
Laura Lady is the Founder & CEO of FryAway. Laura worked as a marketing person in various companies after studying MBA from the International University of Japan.
Laura has 15 years of experience in marketing fields. She worked as a marketing manager for various companies, including Mattel and Lego Group.
FryAway Before Shark Tank
Laura invented this product in 2020 at the time of the Covid19 Pandemic to solve the fried oil problem. As Laura is a marketing expert and has worked in sales and operations for many years. So she worked on growing the business using her skills and she became successful in it.
They are focusing on word-of-mouth marketing to increase product sales. After the launch of this product, many people gave a positive response to the new product.
This product was featured on Good Things Utah on ABC4 on April 2022. This product will be available in most Walmart stores in the United States by May 2022.
As of Jan 2023, this product is available at 1180+ Walmart, Kroger & More supermarket chain stores along with Amazon.
How Was The Shark Tank Pitch Of FryAway?
Laura Lady enters Shark Tank and asks Sharks for $250,000 for 10% equity. Laura said that every year the cooking oil completely jams the drain. To solve this problem, Laura created a plant-based and non-toxic power FryAway.
Cooking oil gets decomposed in 30 days after solidifying. Laura has just completed 1 year of business. So till now, they have earned up to $700,000. They were cash flow positive within 2 months of product launch.
This product is manufactured by Laura from her own garage. Laura spent $2,000 to buy equipment so she could start manufacturing products out of her garage.
Laura worked for 18 years as a toy marketer at various companies such as Mattel and Lego Group. Laura is a 2nd generation American and both of her parents come from the country of Honduras in Central America.
Laura can speak 4 languages fluently which include Spanish, French, Italian, and English. After manufacturing from the garage, created a website on Shopify for product sales and the business started with $15,000.
Laura listed the product on Amazon and launched the Amazon campaign and focused a lot on the PR or Media. 15,000 monthly subscribers on Amazon and growing at 10%-11% every month.
This is 4 SKUs of product, entry-level product costs $9.99 and goes up to $15.99, and landed cost $0.99. This year their gross margin is 34% and their net margin is 9% currently. 43% of sales are reinvested on Amazon This year an estimated $300,000 is spent on Amazon.
Laura reveals they will be launching the product at 1100 Kroger stores this week and they need financing for POS. Kevin O’Leary said he doesn’t “fry” anything, so he’s out. Daymond John said this business is not for him so he is out.
Robert Herjavec said that the fried food category is not exciting to him, he is out. Lori Greiner decides she will make an offer. Her offer is $250k for 20% equity.
Mark Cuban tells Lori he wants to be in it with them, Laura offers them both $250k for 20% equity. Lori counters for 25% equity, but Laura says it’s too much so she counters for $250k for 20% equity. Mark Cuban counters 22% equity, and Laura says yes.
Finalize: Mark Cuban & Lori Greiner Invest $250K in “FryAway” for 22% Equity.
FryAway Shark Tank Update
This Shark Tank of FryAway aired on Jan 27, 2023, and Laura introduced her product as a solution to a real problem. There was a lot of conversation about the company’s revenue and product on the Shark Tank show.
We’re following Laura Lady along with her company for further updates.
What Is The Net Worth of FryAway?
FryAway is worth an estimated $1.1 million. Since 2020, this company has been growing very well and its products have become available at major retail stores in the United States.
Cooking oil waste is another threat to the environment and in today’s time many people are doing cooking oil waste. In the coming time, its very bad impact can be seen on nature.
Is FryAway Still In Business?
Laura has been running the FryAway Company since 2020 and in 2021 the growth level of the company was increased.
This plant based power product is available on Amazon and thousands of people have given 4.3-star rating on Amazon. Many buyers say this is a great product and works.
This D2C company is headquartered in Concord, New Hampshire, United States, and employs 2-10 people.
Yes, FryAway is still in business as of August 2023.
frequently asked questions
What is FryAway?
FryAway is a 100% plant based and non toxic power that converts fried oils into solids. After the oil becomes solid, it can be thrown in the dustbin and composted.
What Is The Net Worth of FryAway?
FryAway is worth an estimated $1.1 million.