Project Pollo Update: What happened to Lucas Bradbury’s business after Shark Tank?

Project Pollo, a vegan fast-food chain specializing in plant-based chicken alternatives, emerged as a promising venture in the rapidly growing market of sustainable eating. Founded by Lucas Bradbury, a former Pizza Hut delivery-driver-turned-vegetarian entrepreneur, the company quickly gained traction with its unique concept.

Starting from a food truck during the COVID-19 pandemic, Project Pollo expanded to 12 brick-and-mortar locations across Texas within just two years. This remarkable growth led to its appearance on Shark Tank season 13, episode 24, where Bradbury sought a $2.5 million investment for a 5% equity stake, valuing the company at $50 million.

However, the Sharks raised concerns about the high valuation and rapid expansion, which resulted in no deal. Viewers have therefore always wanted to know more about the subsequent journey of Project Pollo post-Shark Tank, its business trajectory, challenges, and current status.

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The rapid rise and shift of Project Pollo after Shark Tank appearance

Lucas Bradbury's journey into the food industry began as a delivery driver for Pizza Hut. His transition to a vegetarian lifestyle eventually led to the inception of the vegan chicken projec, which was simple yet innovative - provide plant-based fast food, primarily chicken sandwiches made from soy, to a market increasingly aware of sustainable eating.

The initial success of Bradbury's vegan chicken food truck, which was launched amid the pandemic, laid the foundation for Project's rapid expansion. Within a remarkably short period, the brand grew from a mobile operation to a chain with multiple locations, signaling a significant shift in consumer preferences towards plant-based diets.

On Shark Tank, Bradbury presented Project Pollo with an ambitious valuation of $50 million, asking for $2.5 million for a 5% equity stake. Despite the Sharks' appreciation for the food's quality, they expressed reservations about the company's valuation and the sustainability of its rapid growth.

The absence of a deal on Shark Tank, however, did not deter Bradbury. However, it marked a turning point for Project Pollo, highlighting the need for a more measured approach to expansion and business scaling.

Following the Shark Tank appearance, Bradbury's Project continued its expansion but faced several challenges. The company's strategy to open new locations quickly led to operational difficulties and management issues. These challenges were compounded by the inherent risks of rapid expansion in the food industry.

Despite these hurdles, Bradbury remained committed to the brand's growth, exploring new avenues like virtual kitchens and partnerships. This period also saw Project venturing into the retail space, considering opportunities to introduce frozen plant-based products in grocery stores.

In a significant turn of events, Project Pollo was acquired by a national franchise group in April, a move that profoundly impacted its operations. This acquisition led to the closure of most of the chain's locations, a stark contrast to its initial rapid expansion phase.

In fact, the only remaining open location, as reported, was in Round Rock, Texas. This development marked a drastic shift from the company's earlier growth trajectory.

The acquisition's details, including the reasons behind it and the future plans of the acquiring entity for Project Pollo, were not publicly disclosed. Additionally, the company's online presence diminished post-acquisition, with its website shutting down and social media updates ceasing since April.

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Prior to the acquisition, Bradbury had ambitious plans for Project Pollo. He envisioned expanding the chain beyond Texas, aiming to establish 100 locations by 2025 and exploring the retail market. However, these plans were put on hold following the acquisition.