|SEASON 9 EPISODE 22|
|Pitch||avocado inspired bar restaurant|
|Asked For||$300,000 for 10%|
|Deal||$400,000 for 20%|
What is Avocaderia?
Avocaderia is a Brooklyn, New York restaurant specializing in all things: Yip, you guessed it, Avocado. Specifically the Mexican Hass Avocado. Their dishes range from the student favorite, avo on toast, to Rancheros, tacos, and other breakfast and lunch menu items, as well as smoothies. Setting their prices high attracts a more trendy, chic type of clientele.
Who Owns Avocaderia?
The founders of Avocaderia are three Italian-Americans, Francesco Brachetti, Alessandro Biggi, and Alberto Gramini. Francesco and Alberto are cousins, and they opened Avocaderia in 2018.
Francesco comes from an e-commerce background. Alessandro worked in investment banking. And Alberto is a chef who ran a catering and events business. All three men remain with the company today.
Francesco and Alessandro first met in 2006 at Bocconi University in Milan, Italy. Both were studying finance at the time.
Francesco went to work in Mexico and soon fell in love with avocados using them in multiple dishes. And while working in Seattle, Alessandro noticed the tendency of white-collar Americans to prefer healthy meals during their lunch break. So the pair stayed in touch, and while chatting, the idea for Avocaderia was born.
Using the insight from Google Trends and Instagram, they began to gauge reaction by posting images of avocado dishes and querying if people would be interested in such a type of restaurant. Not long after going onto social media, they attracted a decent following and news articles from around the world starting picking up on the yet-to-be-opened restaurant.
This interest led to Alessandro quitting his job to live off savings while opening the restaurant in New York. Realizing he now needed a chef on board, he brought in his cousin Alberto from Italy. Entirely self-funded, they were profitable within a year, having recouped the funds they’d borrowed from family, friends, and their personal investments.
With unprecedented interest, consistently busy tables, a loyal customer base, and people traveling from other parts of the world to visit them, they decided to expand and open up more restaurants. Needing capital to do this, they started looking for investors.
What Happened After Shark Tank Update
Is Avocaderia Still in Business?
Avocaderia has remained in business and went on to open up one more location in Chelsea, New York, despite a minor setback in 2019 when the Health Department temporarily closed one of their restaurants for several days due to a pipe leak. They also cater to large events (weddings, corporates), offer a loyalty program, and directly do home deliveries within specific neighborhoods.