'Shark Tank' offers 6-figure deal to couple who started selling fries with $18 in their bank account

"Shark Tank" is wildly popular in the US and across the globe because of the hope it provides to people by turning around the lives and businesses of entrepreneurs overnight. The co-founders of Buena Papa started their business with just $18 in the bank, dreamt big, and aimed to make their fries popular across America. But once the sharks saw their pitch, the brand's fortunes changed. 

Pitching their business on the show, the couple shared that Buena Papa Fry Bar began in their home while they were simply deciding what their family should have for dinner. Johanna was making bandeja paisa, a Colombian dish mixed with chorizo, avocado rice, beans, and fried pork belly. However, they were out of rice and since it was the pandemic, they couldn't go out and buy some. Thus, they replaced rice with French fries and invented a new dish that laid the foundation for the venture. They shared that they owned a cleaning business before selling fries, which shut down during the pandemic.

They opened their first location Buena Papa, serving french fries with Colombian, Mexican, Puerto Rican, and American flavors in Raleigh in July 2021. Despite no prior experience, they invested their life savings of $40,000, leaving just $18 in the account.

Four weeks later, their fries went viral on TikTok, and their business was booming. “Our first year, we did $1.1 million. We took all the profits from that and invested it in [our second] store … Combined, this year, we’re going to finish at about $2 million,” James said during the pitch, as per CNBC.

They added that they wanted to expand to a Miami location and beyond, thus, they were looking to raise money. The co-founders asked the panel for $400,000 in exchange for a 7% equity stake in their business. They added that they sold franchising rights to four other new locations, which were yet to open doors. While the numbers and the business seemed strong, the Sharks were weary.

Mark Cuban was the first one to drop out of the deal as he felt that operating multiple restaurants would be too much for the entrepreneurs. “Running a restaurant is a hard business. Once you franchise, you’re in a second business ... the babysitting business,” Cuban said. “If you guys were just in this, I was interested, but you’re in two different businesses. I think that’s going to crush you. I’m out," he added.

Kevin O'Leary also opted out saying that he was on a personal mission to eat healthy, so he wouldn't invest in French Fries. Barbara Corcoran and Lori Greiner also dropped out saying that the couple were already doing great and they didn't need a 'shark deal'.

That left Robert Herjavec, who was interested in cutting a deal. He offered the Windons $400,000 but for 20% of Buena Papa. The couple tried to counter-offer with 15%, but Herjavec held on with the leverage of being the only Shark available. Thus, he came down just 1% and the Windons accepted it.

“We’re going to take Buena Papa from Raleigh, North Carolina, and it’s going to travel all over these United States until it’s in every metropolitan city,” James said.

Following their appearance on Shark Tank, Buena Papa Fry Bar, released a press release announcing that their sole focus now would be on franchising. They also announced the closure of the iconic Durham, NC location to refocus their resources.