Prime 6, based in New York City, specializes in producing sustainable hardwood charcoal briquettes. Founded in 2018, the company creates its charcoal from Planet Wood, a unique process involving hardwood sawdust that is compressed and slow-carbonized into dense, hexagonal briquettes.
This design enhances air circulation, resulting in more even cooking. Prime 6 charcoal is known for its longer burn time and higher heat compared to other types, with minimal ash production.
The briquettes can be broken down into various sizes and shapes to fit different grills, including Kamado Joe and Green Egg models, as well as smokers and pizza ovens. They are reusable up to seven times and produce smoke that enhances the flavor of grilled foods.
Prime 6 charcoal lights in 10 to 20 minutes and burns for over an hour, made from 100% natural wood without artificial additives or bonding agents. It is designed for outdoor grilling only, not for indoor use.
| Company Name | Prime 6 |
| Founder | Riki Franco and Oren Franco |
| Product | eco-friendly, reusable, sawdust briquettes |
| Asked For | $200,000 for 10% Equity |
| Final Deal | $200,000 for 25% Equity |
| Shark | Kevin O’Leary |
| Episode (Shark Tank USA) | Season 12 Episode 6 |
| Air Date | November 20, 2020 |
| Business Status | In Business |
| Lifetime Sales | $2 Million *estimated |
Who Is The Founder Of Prime 6?
Prime 6 was co-founded by Riki Franco and Oron Franco. Riki Franco, the CEO, holds a Bachelor of Arts in Finance from IDC Herzliya in Israel and a Master’s in Business and International Management from Columbia Southern University.
She has experience as a finance officer in Mexico and New York City and currently mentors at organizations like NUMA New York, German Accelerator Tech, and Entrepreneurs Roundtable Accelerator.
Oron Franco, the COO, has a Diploma in Culinary Arts from The International Culinary Center in New York City. A professional chef, he previously served as the Director of Operations at The Private Chef NYC for over six years.
Did Prime 6 Get a Deal on Shark Tank?
Riki Franco and Oron Franco appeared on Shark Tank seeking $200,000 for a 10% equity stake in Prime 6. Riki highlighted that their charcoal, priced at $18.99 retail, provides the equivalent of 30 pounds of ordinary charcoal in just 9 pounds.
The manufacturing cost is $3.39, allowing for a healthy margin. Their 22-pound pack is sold at Walmart for $26.64, while the 9-pound pack ranges from $10.99 to $12.99.
Within a year of launching, Prime 6 achieved $300,000 in sales across food service, retail, and e-commerce channels. Kevin O’Leary offered $200,000 for 25% equity, aiming to help the company enter the consumer market.
Mark Cuban expressed interest but was unable to invest due to a prior commitment with Instafire. Daymond John, an avid griller, also offered $200,000 for 25% equity.
Ultimately, Riki Franco chose to accept Kevin O’Leary’s offer of $200,000 for 25% equity.
Prime 6 Shark Tank Update
Due to the high demand for Prime 6’s charcoal, the product has become widely available on numerous platforms, significantly expanding its reach since its appearance on Shark Tank.
Initially distributed through a limited number of food services, Prime 6 has grown its distribution network to include major distributors such as US Foods, Sysco, Wismettac, Baldor, Cheese Choice, Fortune Fish & Gourmet, and PFG.
In addition to its expanded distributor network, Prime 6 charcoal is now available at various retail and online markets, including Dierbergs, Walmart, UNFI, Lowe’s, Kroger, The Fresh Market, Piggly Wiggly, Safeway, Woodman’s Markets, Albertsons, and Food City.
While exact revenue figures are not currently available, it is likely that the company has generated millions of dollars in sales within a year of its Shark Tank appearance.
What Is Prime 6 Net Worth?
Prime 6’s estimated net worth is $2.9 million, reflecting the company’s strong performance and valuation based on its lifetime sales and growth trajectory.
