Have you ever wondered what the net worth of Atlas Monroe is?
Atlas Monroe is one of the biggest vegan chicken companies in the world. It was created by Deborah Torres, who felt the need to create a high-quality, plant-based chicken and meat option following her father’s diagnosis of type 2 diabetes.
Her appearance on Shark tank proved unsuccessful but ultimately became a springboard for the company’s growth and success.
As of May 2023, Atlas Monroe has a net worth of around $7 million.
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Early Life of Deborah Torres
Deborah Torres grew up in San Jose—Silicon Valley, to be exact. She’s the daughter of two immigrant parents. Her mother hails from England, and her father is from the South American country of Guyana.
The diversity of Torres’ ethnic background meant that she was exposed to a variety of cuisines from a young age. This led her to become fascinated with food.
Her favorite meal was her mother’s home-cooked fried chicken, which, along with meat, was a staple of the Torres family’s diet.
You may be wondering how Deborah Torres became interested in vegan food options. The answer revolves around her father’s unfortunate diagnosis of type 2 diabetes. This prompted her to look for ways to allow him to enjoy his favorite foods without harming his health.
She set out to create a vegan fried chicken option. One that her food enthusiast family could taste and not feel any drop off in taste and quality compared to the real deal.
The Origins and Background of Atlas Monroe
Following Deborah’s father’s diagnosis, the Torres family went the vegan route themselves. This was prompted by a random encounter with a vegan stranger at a food market.
Before she launched Atlas Monroe, Deborah had started experimenting with vegan fried chicken recipes. The reactions she got from the people who tried her chicken were overwhelmingly positive.
This prompted her to offer her dishes at VegFest, the biggest vegan festival in the U.S. Her food was not only delicious but also critically acclaimed, winning the VegFest Best Dish Award.
Shortly thereafter, Deborah Torres launched her company, Atlas Monroe.
She noticed that the products of almost all similar existing companies were only limited to vegan chicken nuggets. Torres saw this, in addition to signature sauces, as a potential point of differentiation for her products.
Atlas Monroe offers plant-based chicken products that would look right at home at a premium restaurant. These products not only include vegan chicken but also range from bacon, turkey, and vegan ribs, to lasagna.
Shark Tank Pitch
In 2019, Deborah Torres and her husband Jonathan decided to pitch Atlas Monroe to the Shark Tank panelists for potential investment. They did so in the second episode of season 11.
A Solid Start
Going into the pitch, Deborah and Jonathan believed that the company should be valued at $5 million. The two founders’ goal from their appearance on Shark Tank was to acquire a $500,000 investment in return for a 10% share of the company.
The pitch started off on a solid note. Deborah provided samples of her vegan fried chicken to each investor, and they were very impressed by the quality and taste.
In fact, they didn’t even know that what they were eating wasn’t chicken until Torres told them.
Things Go South
Things started to go downhill when the conversation switched to whether or not a $5 million valuation for the company was fair. Deborah and Jonathan put forth their justification for this valuation, but the Sharks weren’t convinced.
Barbara Corcoran ultimately decided to opt out of the investment, stating that the company wasn’t stable enough yet to put money behind. Shortly thereafter, Kevin O’Leary followed suit.
The Offer Received
After discussions with guest investor Rohan Oza, they came together to pitch a final offer to the young entrepreneurs. That offer was $1 million for 100% equity, in addition to 10% sales royalties.
One million dollars is a lot of money, but Torres had the foresight to realize that it was nothing compared to what Atlas Monroe could be making a few years into the future.
She ultimately decided to remain the 100-percent owner and CEO of Atlas Monroe and rejected the offer put forth by Cuban and Oza.
Life After Shark Tank
After Atlas Monroe’s Shark Tank pitch proved unsuccessful, Deborah Torres wasn’t invited back on the show another time to have a second go at it.
Blessing in Disguise
However, her appearance on the show gave the company a massive boost of exposure, allowing it to quickly become a household name.
Atlas Monroe was able to rake in millions of dollars at a rapid pace in the aftermath of its appearance on Shark Tank.
This is because it offers a product that’s appealing to a wide range of consumers. There aren’t many vegan meat and chicken options on the market that offer the quality, taste, and value for money that Atlas Monroe products do.
Within two years of the company’s Shark Tank appearance, Deborah Torres was able to make tremendous strides in growing it.
In 2021, the company took the next step in its evolution and launched a multi-million dollar manufacturing facility for more efficient and higher volume production.
Torres was also fully aware that she needed distribution channels to support the expanded production scale. This is why she concentrated her efforts on creating partnerships with some of the biggest grocery and restaurant chains in the country.
When Deborah Torres appeared on Shark Tank, her company was achieving a sales revenue of around $70K per year. This figure has since skyrocketed to $25 million.
Therefore, it’s safe to say that the future is looking very bright for Atlas Monroe.
Atlas Monroe Net Worth 2023
As of May 2023, Atlas Monroe’s net worth is around $7 million.
Besides revenue from supplying restaurants and grocery stores all over America with vegan food, Atlas Monroe drives huge sales via its official website.
In fact, we can safely assume that the Atlas Monroe website is the main source of income for the company, selling all types of frozen foods to the public as well as stores.
Frequently Asked Questions (FAQs)
How to fry Atlas Monroe chicken?
The recommended method for preparing Atlas Monroe fried chicken is to deep fry it for five minutes at a temperature of 350℉.
If you wish to air fry it, you can do so for ten minutes at the same temperature.
What is Atlas Monroe chicken made of?
Atlas Monroe’s chicken is 100% vegan. It contains no animal meat and is made entirely out of plant-based ingredients.
The main ingredient in Atlas Monroe chicken is seitan, which is commonly known as vital wheat gluten. The company’s products are also free of soy and nuts.
How long does Atlas Monroe take to ship?
If you make an order from Atlas Monroe, you can expect your vegan chicken to arrive between one week and 14 days.
The company currently only ships within the United States.
Which celebrities eat Atlas Monroe chicken?
Even before appearing on Shark Tank, the fried chicken company already had a substantial following that included some big names.
Its Cajun Fried Chicken and Waffles were declared the best dish at the 2019 New Orleans National Fried Chicken Festival. Since then, A-listers such as Jermaine Dupri and Jay Versace have voiced their fandom of the company’s products.
Where is Atlas Monroe based?
The plant-based foods company is based in San Diego, California. It’s estimated to have approximately 50 employees so far.
Always Follow Your Passion
Deborah Torres has always had a passion for food from a very young age. She decided to follow that passion and that has led to the creation of Atlas Monroe—one of the most successful vegan chicken companies in the world.
That being said, you should always pursue your dreams until you watch them grow.
Always Shoot Your Shot
Sometimes, events that seem like failures may actually be precursors to success.
Even though Deborah and Jonathan Torres weren’t able to convince the Sharks to invest in their company, they didn’t let the fear of rejection stop them from making their pitch anyway.
This ultimately led to them getting the publicity and exposure they needed to take the company to the next level.
Hard Work Pays Off
One thing is for certain: You don’t get to the level of making millions every year without giving your all to whatever you’re doing. It takes a whole lot of hard work and dedication to make that success sustainable.
This is evident in the exponential growth that Atlas Monroe has experienced over the past couple of years.