In the history of Shark Tank, few success stories are as compelling as that of Cousins Maine Lobster.
Cousins Maine Lobster began their journey from a single food truck in Los Angeles, ultimately growing to a nationwide franchise powerhouse. Of course, like most businesses, it gained initial visibility from Shark Tank after it closed a $55,000 deal in exchange for a 15% stake with Barbara Corcoran.
Moreover, the founders announced in June 2025 that they had surpassed $1 billion in nationwide sales.
Undoubtedly, CML is more than just a business success story of two cousins. They used Shark Tank as a springboard to turn their simple lobster rolls into something remarkable.
From Taste of Home to Food Truck Phenomenon
The idea to start a food truck business was born in 2011 when Jim Tselikis and Sabin Lomac noticed the booming food truck market in LA. At that point in time, they craved the local Maine lobster rolls. Thus, they realized there is a market gap to find premium lobster on the West Coast in approachable formats.
In 2012, both cousins started their own food truck with a specialty of serving Maine lobster in classic New England style.
Cousins Maine Lobster quickly attracted customers from Southern California who were eager to try authentic Maine seafood.
After an interview with QSR, Jim Tselikis said that the producer encouraged them to go and pitch their business on Shark Tank. Consequently, in just a few months, when their gross sales reached $900,000, they appeared on Shark Tank Season 4 Episode 6 with the proof of concept and demand.
Shark Tank: A Game-Changing Moment
The duo of cousins, Jim and Sabin, entered the Tank seeking $55,000 in exchange for a 5% stake in the brand, further valuing the company at $1.1 million.
They faced some heat when Mark Cuban said that they were talking nonsense, and Kevin O’Leary described their ask as outrageous. However, they finally struck a deal with Barbara Corcoran, the Shark, whom they were actually targeting due to her history in the food industry.
With the help of Barbara, they did not receive capital, and CML became a recognizable brand in the food truck industry. They were featured on The Today show, Good Morning America, Forbes, MasterChef, CNN, and more. These media appearances helped the brand gain visibility and increase its customer base beyond Los Angeles. Barbara’s partnership provided them with both credibility and exposure.
Since then, Cousins Maine Lobster came back with fresh updates in Shark Tank Season 7 Episode 13, and recently in Shark Tank Season 17 Episode 9.
Cousins Maine Lobster Recent Highlights
In the recent update segment of Shark Tank Season 17, Jim and Sabin shared that ever since they launched franchising, their growth increased significantly. Currently, they have more than 100 food trucks and over 1000 employees, along with a 7000 square foot distribution center in Maine.
Also, the cousins shared that one of the most important things they learnt from Barbara was that fun is good for business. Subsequently, Jim and Sabin started annual retreats, but in 2025, they did something completely different. They invited their franchisees and team members to a private island in Florida so that everyone could become a part of their wider mission.
Additionally, in 2026, they are planning to launch a different franchising concept known as Cousins Fried Seafood. The founders of CML were invited to speak at the first-ever Shark Tank Summit in September 2025, wherein they shared how they go with their instincts.
Brand Evolution: Beyond Trucks
Cousins Maine Lobster did not just stop at food trucks; they recognized a wider opportunity, along with franchising. The company decided to open brick-and-mortar restaurants in significant urban locations, offering expanded menus.
Also, the brand hosted an e-commerce platform shipping lobster trails, seafood products, and live lobsters across the nation.
Jim and Sabin also appeared on Food Truck Rehab, where they helped other entrepreneurs with food truck concepts to improve their operations. Furthermore, recently, Barbara Corcoran closed a deal with Shalom Japan, asking them to work in collaboration with Cousins Maine Lobster.
Shalom Japan appeared on Season 17 Episode 6, with Matzoh Ball Ramen, combining Jewish and Japanese traditional recipes. As per the discussion that happened on the Tank, they will be serving their signature dish via food truck with the help of CML.
These expansions and visibility solidified their brand’s identity, and it became a comprehensive seafood experience provider.
