Here’s how NJ’s RoboBurger scored on ‘Shark Tank’

First, what’s a RoboBurger? It’s basically a vending machine that makes hot food. According to their website, they explain it this way:

Our technology helps operators reduce labor and rent costs, and increases margins. A RoboBurger operator can make a revenue of about $82 K/year at a 33% profit margin per machine, by only selling 33 burgers per day. RoboBurger is the plug-in, ventless restaurant of the future.

So picture a vending machine that cooks you a burger in under four minutes.

RoboBurger is a Newark-based company whose partners Audley Wilson, Dan Braido and Andy Siegel recently appeared on the TV show “Shark Tank” to get funding for their product.

Canva

Their pitch said they were the future of fast food and asked for $1.5 million in exchange for only a 5% share of the profits.

Each shark, Mark Cuban, Lori Greiner, Kevin O’Leary, Barbara Corcoran and guest “shark” Michael Rubin sampled a burger and they liked it. But they were skeptical. After a lot of haggling about the business model and pricing all sharks turned it down. But Wilson kept pushing and pitching.

Then Rubin had a change of heart and was suddenly offering $1.5 million but for a 10% share. Then O’Leary jumped back in the fray saying he would split with Rubin and each take 5%. The haggling went on and they finally settled at a 9% split.

Orgrimmar

Having RoboBurger make a hot and delicious burger live on TV was an exhilarating experience, and it was fantastic to see all the Sharks more than surprised by how good RoboBurger is,” Wilson told nj.com. “We’re ready to work with partners to bring 24/7 freshly cooked food to everyone – from colleges and airports to convenience stores, hospitals, offices, and factories across America.

LightFieldStudios

Fame and Fortune: These Are the Richest Celebrities in the World

Stacker compiled a list of the world's richest celebrities using data collected from Celebrity Net Worth's rankings by current net worth.

Gallery Credit: Stacker

Celebrities Who Were Murdered

It's shocking to hear when one of your fave actors, musicians or models is murdered. In fact, many of them still haunt us to this day. Below, discover 25 who were killed.

Gallery Credit: Natasha Reda

Opinions expressed in the post above are those of New Jersey 101.5 talk show host Jeff Deminski only.

You can now listen to Deminski & Doyle — On Demand! Hear New Jersey’s favorite afternoon radio show any day of the week. Download the Deminski & Doyle show wherever you get podcasts, on our free app, or listen right now.

Click here to contact an editor about feedback or a correction for this story.