Cousins Maine Lobster: The Journey from Shark Tank to Franchising with Jim Tselikis
In the latest episode of Emerging Franchise Brands, we had the pleasure of speaking with Jim Tselikis, co-founder of Cousins Maine Lobster. From a passion project to a thriving franchise with 69 locations across 27 states, Jim shares the remarkable journey of Cousins Maine Lobster and the pivotal role Shark Tank played in their success.
A Family Affair
Jim and his cousin Sabin Lomac grew up in Maine, surrounded by family and delicious Maine lobster. Their shared love for lobster and family gatherings inspired them to bring the taste of Maine to the West Coast. In 2012, they launched their first food truck in Los Angeles, bringing high-quality Maine lobster to a new market.
The Shark Tank Effect
Just two months after launching their food truck, Cousins Maine Lobster was featured on Shark Tank. The exposure and investment from Barbara Corcoran provided the perfect platform to scale their business. Jim explains how their meticulous preparation for the show paid off, helping them secure a deal and gain valuable mentorship from Barbara.
Rapid Growth and Franchising
Encouraged by Barbara, Jim and Sabin decided to franchise their business in 2014. They initially sold 10 franchises, learning valuable lessons about finding the right franchisees and maintaining quality. Today, Cousins Maine Lobster has expanded to 69 franchise locations and five corporate-owned trucks, serving lobster lovers across the country.
Keys to Success
Jim emphasizes the importance of working with family and having a strong partnership. He shares how their close bond and shared vision have helped them navigate the challenges of building a business. Jim also highlights the significance of being coachable, creative, and dedicated for franchisees to succeed. Their commitment to providing comprehensive training and ongoing support ensures franchisees are well-equipped to thrive.
Maintaining Quality and Consistency
One of the biggest challenges for Cousins Maine Lobster has been maintaining the quality and consistency of their product. Jim discusses how they have refined their processes and logistics to ensure that every customer enjoys the same high-quality lobster, whether they’re at a food truck in Los Angeles or a storefront in New Jersey.
Looking Ahead
With a goal of reaching 250 units by 2028, Cousins Maine Lobster continues to focus on responsible growth and supporting their franchisees. Jim and Sabin are dedicated to making their franchisees successful and maintaining the integrity of their brand.
Final Thoughts
Jim Tselikis’ story is a testament to the power of family, hard work, and a great product. Cousins Maine Lobster has not only brought the taste of Maine to new markets but has also created life-changing opportunities for their franchisees. For more information on franchising with Cousins Maine Lobster, visit cousinsmainelobster.com.
November 11, 2024
