Atlas Monroe Net Worth
Do you ever find yourself pondering about the net worth of Atlas Monroe?
Deborah Torres, driven by her father’s type 2 diabetes diagnosis, founded Atlas Monroe, a globally renowned vegan chicken corporation. Recognized as a prominent player in the industry, the company was established to satisfy the demand for superior, plant-based alternatives to chicken and meat.
Although her appearance on Shark Tank was unsuccessful, it eventually served as a springboard for the company’s growth and success.
As of May 2023, Atlas Monroe’s estimated net worth stands at approximately $7 million.
Early Life of Deborah Torres
Deborah Torres was raised in the precise location of San Jose—Silicon Valley. Her parents, both immigrants, originate from distinct regions. Her mother comes from England while her father comes from Guyana in South America.
Torres’ exposure to a wide range of cuisines due to her diverse ethnic background sparked her fascination with food from an early stage.
The Torres family’s diet revolved around their beloved staple – her mother’s home-cooked fried chicken, which was her absolute favorite meal.
Deborah Torres’ curiosity in vegan food options stems from her father’s unfortunate diagnosis of type 2 diabetes. This event sparked her search for methods to enable him to relish his beloved dishes while safeguarding his well-being.
With the goal of developing a vegan fried chicken alternative, she embarked on a mission to craft a delectable option that would satisfy her food-loving family’s taste buds without compromising on the authentic flavor and quality of the original dish.
The Origins and Background of Atlas Monroe
After Deborah’s father was diagnosed, the Torres family decided to adopt a vegan lifestyle. Their decision was influenced by a chance meeting with a vegan stranger at a food market.
Deborah had dabbled in vegan fried chicken recipes prior to establishing Atlas Monroe. The feedback she received from those who sampled her chicken was incredibly encouraging.
As a result, she decided to showcase her culinary creations at VegFest, the largest vegan festival in the United States. Not only did her dishes possess exceptional taste, but they also garnered widespread acclaim, ultimately earning her the prestigious VegFest Best Dish Award.
Deborah Torres wasted no time and swiftly initiated her venture, Atlas Monroe.
Upon observing that the majority of comparable companies solely offered vegan chicken nuggets, Torres recognized an opportunity to set her products apart by incorporating signature sauces alongside them.
At Atlas Monroe, you’ll find a range of plant-based chicken products that are perfect for high-end dining experiences. Our offerings go beyond vegan chicken and encompass bacon, turkey, vegan ribs, and even lasagna.
Shark Tank Pitch
During the second episode of season 11 in 2019, Deborah Torres and her husband Jonathan presented their business, Atlas Monroe, to the panelists of Shark Tank with hopes of securing potential investment.
A Solid Start
Deborah and Jonathan entered the pitch with the belief that the company’s worth should be estimated at $5 million. Their objective as the founders, during their appearance on Shark Tank, was to secure a $500,000 investment in exchange for a 10% ownership stake in the company.
The pitch had a strong beginning as Deborah distributed samples of her vegan fried chicken to all the investors, leaving them thoroughly impressed by its exceptional quality and delicious taste.
They were unaware that the food they were consuming wasn’t chicken until Torres informed them.
Things Go South
The situation took a turn for the worse when the discussion shifted towards the fairness of a $5 million valuation for the company. Deborah and Jonathan presented their reasoning behind this valuation, but the Sharks remained unconvinced.
Barbara Corcoran ultimately chose not to invest, expressing her concern about the company’s lack of stability. Kevin O’Leary made a similar decision shortly after.
The Offer Received
Investor Mark Cuban was the first to propose an offer, suggesting a $500,000 line of credit in exchange for a 30% ownership stake.
Following discussions with guest investor Rohan Oza, they collaborated to present a final proposal to the young entrepreneurs, which consisted of $1 million for complete ownership and an extra 10% in royalties from sales.
Although one million dollars is considered a significant amount of money, Torres possessed the foresight to acknowledge that it pales in comparison to the potential earnings of Atlas Monroe in the coming years.
In the end, she made the decision to maintain full ownership and be the CEO of Atlas Monroe, declining the proposal presented by Cuban and Oza.
Life After Shark Tank
Deborah Torres was not given another opportunity to make a second Shark Tank pitch for Atlas Monroe after her initial attempt proved unsuccessful.
Blessing in Disguise
Nevertheless, her presence on the show propelled the company into the spotlight, resulting in a significant increase in visibility and transforming it into a widely recognized brand.
After its appearance on Shark Tank, Atlas Monroe swiftly accumulated millions of dollars at an astonishing rate.
Atlas Monroe products are able to attract a diverse consumer base due to their appealing product offerings. Unlike other vegan meat and chicken options, there are limited choices in the market that can match the exceptional quality, delectable taste, and great value for money provided by Atlas Monroe.
Company Growth
Deborah Torres made remarkable progress in growing the company within just two years after its Shark Tank appearance.
In the year 2021, the company embarked on the next phase of its development by inaugurating a state-of-the-art manufacturing facility worth millions of dollars. This strategic move was aimed at enhancing productivity and enabling larger-scale production.
Recognizing the importance of distribution channels for accommodating increased production, Torres dedicated her energy to forging alliances with prominent grocery and restaurant chains across the nation.
In addition to the company’s own restaurants, which are currently located in over 40 places across the United States and Canada through a collaboration with Copper Branch, this is also available.
Deborah Torres’ company, during her appearance on Shark Tank, was generating approximately $70K in annual sales revenue. However, this number has experienced an astronomical surge, reaching an impressive $25 million.
Hence, it can be confidently stated that Atlas Monroe has a promising future ahead.
Atlas Monroe Net Worth 2023
As of May 2023, the estimated net worth of Atlas Monroe stands at approximately $7 million.
In addition to generating revenue by supplying vegan food to restaurants and grocery stores across America, Atlas Monroe experiences significant sales through its official website.
It is reasonable to assume that the primary source of income for the company is the Atlas Monroe website, which sells a wide range of frozen foods to both the general public and stores.
Frequently Asked Questions (FAQs)
How to fry Atlas Monroe chicken?
To properly cook Atlas Monroe fried chicken, it is advised to deep fry it for a duration of five minutes, maintaining a temperature of 350℉.
If you desire to air fry it, you have the option to do so for ten minutes at the identical temperature.
What is Atlas Monroe chicken made of?
Atlas Monroe’s chicken is completely vegan, as it is crafted solely from plant-based ingredients and contains no animal meat whatsoever.
Atlas Monroe chicken is primarily made with seitan, also known as vital wheat gluten. Additionally, their products are soy-free and nut-free.
How long does Atlas Monroe take to ship?
When placing an order with Atlas Monroe, anticipate the arrival of your vegan chicken within a timeframe of one week to 14 days.
At present, the company exclusively delivers its products within the borders of the United States.
Which celebrities eat Atlas Monroe chicken?
Prior to its Shark Tank debut, the fried chicken company had already garnered a considerable fan base, which included notable personalities.
The 2019 New Orleans National Fried Chicken Festival crowned their Cajun Fried Chicken and Waffles as the ultimate dish, earning it the title of the best in the competition. Ever since, renowned personalities like Jermaine Dupri and Jay Versace have openly expressed their admiration for the company’s offerings.
Where is Atlas Monroe based?
The company that specializes in plant-based foods is headquartered in San Diego, California. Currently, it has an estimated workforce of around 50 employees.
Key Takeaways
Always Follow Your Passion
From a young age, Deborah Torres harbored an unwavering love for food. Determined to pursue her passion, she embarked on a journey that ultimately gave birth to Atlas Monroe—a globally renowned vegan chicken enterprise, celebrated for its immense success.
With that said, it is important to continually chase after your dreams until you witness their flourishing.
Always Shoot Your Shot
At times, what appears as failure in certain events can actually be a stepping stone towards achieving success.
Despite not being able to convince the Sharks to invest in their company, Deborah and Jonathan Torres were undeterred by the fear of rejection and went ahead with their pitch.
As a result, they gained the necessary publicity and exposure that propelled the company to a higher level.
Hard Work Pays Off
There is no doubt that achieving annual earnings in the millions requires wholehearted commitment and effort. Sustaining such success demands immense dedication and perseverance.
The exponential growth witnessed by Atlas Monroe over the past few years clearly demonstrates this.
