The Rapid Ramen Cooker, a microwaveable cookware designed to cook ramen noodles in minutes, was introduced by entrepreneur Chris Johnson during Shark Tank Season 5.
The product solves a common problem for ramen lovers by offering a quick and convenient way to prepare ramen without needing a stove or boiling water.
All you need to do is add the ramen, water, and microwave for just 3-4 minutes.
When Chris pitched the idea, he valued his company at $3 million and sought $300,000 in exchange for 10% equity.
At that time, the product had generated over $164,000 in sales within just three months and was sold in around 2,500 retailers, including major chains like Albertsons and Safeway.
The cost to produce each bowl was about $0.75, and it retailed for $5.99.
Chris’s persistence in reaching out to retailers personally through cold calls impressed the sharks, especially Mark Cuban.
Despite a few concerns raised by other sharks—such as the possibility of competitors copying the product and skepticism about its longevity—Chris held firm in his belief that the product’s patent pending design would protect it from knockoffs.
The negotiations that followed included an initial offer from Kevin O’Leary, who proposed $300,000 for a $1.10 royalty per unit sold until the investment was repaid, after which the royalty would drop to $0.50 per unit in perpetuity. Chris wasn’t interested in the offer and declined.
Robert Herjavec also made an offer, but it was one Chris didn’t find favorable either, proposing $300,000 for 40% equity.
After further discussion, Kevin and Robert decided to team up, offering $300,000 for 25% equity, with an added $0.75 royalty per unit until the initial investment was repaid, then $0.25 in perpetuity. Despite the tempting offer, Chris ultimately turned it down.
Then, a dramatic twist: Mark Cuban returned with a new offer of $300,000, split into $150,000 for 20% equity and $150,000 as a loan.
Kevin and Robert advised Chris against accepting Mark’s deal, but Chris countered with 15% equity, which Mark begrudgingly accepted. This was the moment when Chris walked away with the deal!
Post-Shark Tank Success
After appearing on Shark Tank, the Rapid Ramen Cooker went on to become a top seller in the microwave accessories category on Amazon. In fact, the company, which later rebranded as Rapid Brands, was able to reach $55 million in earnings.
Their products are not only available on the Rapid Brands website but also continue to perform well on online platforms like Amazon.
Today, the Rapid Ramen Cooker is a staple for ramen enthusiasts, particularly in dorm rooms, small kitchens, and offices, where convenience is key.
The product’s success proves that innovation, persistence, and the right investment can turn a simple idea into a thriving business.
