Food - News

What Happened To Cousins Maine Lobster After Shark Tank?
In 2012, cousins Sabin Lomac and Jim Tselikis founded Cousins Maine Lobster, a single food truck serving fresh Maine lobster piled high in a split top bun, with melted butter drizzled over top. Shortly afterwards, the cousins appeared on “Shark Tank” and negotiated a $55,000 deal with Barbara Corcoran for 15% equity — but was the joint venture a success?
Shortly after Corcoran’s involvement, Cousins won Best LA Food Truck in 2012, and as of March 2022, the chain has 42 trucks and seven brick-and-mortar restaurants, with an annual revenue of $29 million. Cousins Maine Lobster is also a booming franchise empire, earning a royalty fee of 8% of the franchise revenue.
The chain offers meal packages and lobster home delivery, while their website allows customers to purchase seafood like lobster and crab. In 2021, Lomac and Tselikis co-hosted a new Food Network show called “Food Truck Rehab,” where the cousins rescue struggling food truck owners and help revamp the menu, trucks, and social media.