Potato Parcel, whose website is (PotatoParcel.com) is a potato delivery company which is based in America. The potatoes are personalized with messages which might be pictures or word messages. The company sends unique messages around the globe, which are written in potatoes, their package includes customized gift boxes which retail at $4.99 and a birthday package that retails at $24.99 among others.
The company was founded by Alex Craig, who saw the idea through a viral post on Reddit that was about mailing a potato with stamps, the post had gained popularity and had more than 2 million views in less than fours. Wondering how much potato parcel is worth if it is profitable or not, here is a detailed explanation of inception, Evolution, and net worth.
Potato Parcel was founded by Alex Craig, who is a mobile App developer in May 2015. Potato Parcel was originally based in Dallas, Texas. Craig would buy potatoes from the local neighborhood Walmart, and he reportedly made profits of between $10,000- $13,00 per month. The potato parcel gained popularity on Twitter, allowing Craig to dream of sending messages out of the popular apps to become a reality.
In 2016, Potato Parcel Founders appeared on shark tank to pitch their business, they asked for $50,000 for 10% equity in Potato Parcel. At first, the Sharks found the idea hilarious until the entrepreneurs told them they had already sent 12,000 messages and made sales of $215,000. That is when they took the business seriously. While other Sharks found this business a little bit weird, Shark Kevin O’Leary believed in them and offered $50,000 for 10% equity and royalty of a dollar per potato sold, the entrepreneurs accepted the deal.
Potato Parcel was sold to Riad Bekhit, who is a Bay Area entrepreneur for $40,000, and the business was moved to San Bruno, California. After the move, Bekhit got more creative and rebranded the business by introducing new products which include Lump of coal Potato, Potato Pal which is a potato with a friend picture, Potato Postcard which simplifies a postcard that is pasted into a potato and Spooky Tater which is a potato that is painted to look like a pumpkin. The company also ships a burlap sack.
In 2015, the company reported profits of between $20,000 to $25,000 per month. The business expanded shipping to Canada, Australia, Europe, and the UK. The Potato company also inspired a lot of companies, and as per now there are a various company doing business based on the same concept, these include a company in Australia which delivers messages at the cost of $10 for a message of 15 words or less than that. There is also another one called brick or potato, Eggplant mail, and others.
According to the Bekhit, the company has now sold more than 70,000 parcels since they were aired on Shark Tank, and they have made sales of more than $700,000. Bekhit is now said to now bring in six-figure salary in business according to CBNC. As of now, the company has seven full-time employees who manage orders and create potato designs.
Awards and Achievements
So far Potato Parcel has not received any awards, but the business has really inspired a lot of other business which have grown as a result of Potato Parcel idea. Some of the businesses that have sprung up through a similar idea include Brick or Potato which is based in Australia, and the company sends messages on potatoes or bricks, another company which has based its operations in this idea include Eggplant Mail which also delivers messages using eggplant.
Net Worth of Potato Parcel in 2020
As of July 2020, Potato Parcel’s net worth is estimated at $1 million, the owner of the company bought it at $42,000; thus, this shows that the company has grown and become very profitable. The company is said to have earned a revenue of $700,000 and sent over 70,000 parcels since when they pitched their business on Shark Tank. Bekhit is said to have made a six-figure salary as of 2018.
Imagine sending messages on potatoes. If someone told you these as a business idea, I am sure most of the people will brush it off because it doesn’t sound realistic, but Alas! The owner of Potato Parcel is smiling all the way to the bank. Even though social media and other applications came and replaced the old-fashioned methods of sending messages, it is amazing how people still would like to use something that is unique to send a message. Potato Parcel’s net worth continues to grow as the business grows, I won’t be shocked if it will become a multi-millionaire company in a few years.