PhoLicious offers authentic instant pho with rich flavours in just five minutes. Enjoy homemade taste with convenience – a must-try for pho lovers!
The COVID-19 pandemic brought countless challenges, including the closure of restaurants, which left many people, including Joseph and Anh Trousdale, craving the flavours of their favourite foods. As essential workers, they worked tirelessly but couldn’t find the authentic Vietnamese pho they loved. Store-bought instant pho didn’t capture the traditional, rich flavour they were accustomed to. That frustration led them to create PhoLicious, a product that promises the convenience of instant pho without sacrificing the deep, aromatic, and authentic flavours of homemade pho.
Their journey to share their instant pho with the world took them to Shark Tank Season 16, where they sought an investment to scale their business. The offer they secured from Kevin O’Leary marked a major turning point in their business’s success. In this update, we’ll dive deeper into how their venture has evolved since their Shark Tank appearance and look at where they are now in 2025.
Key Takeaways
- PhoLicious is an instant version of the traditional Vietnamese soup pho, created by Joseph and Anh Trousdale.
- The product has gained tremendous popularity, becoming available in over 450 Walmart stores and 150 Sam’s Club locations.
- Kevin O’Leary invested $500,000 for 15% equity in the business on Shark Tank.
- PhoLicious’ revenue grew dramatically, from $68,000 in 2021 to $5-$6 million in 2024.
- The company became profitable by the end of 2022, earning $390,000 in profit that year.
- With increased distribution, they have expanded to retail giants, significantly boosting brand visibility and customer reach.
PhoLicious Networth in 2024
As of 2024, PhoLicious has experienced significant growth since its appearance on Shark Tank. With expanding retail distribution in over 450 Walmart stores and 150 Sam’s Club locations and a projected revenue between $5 million and $6 million, the company is valued at an estimated $20 million to $30 million.
PhoLicious Networth in 2025
As of 2025, PhoLicious‘s net worth is estimated to be around $30 million to $40 million. The company has grown tremendously since its Shark Tank appearance, with an expanded distribution network now available in over 450 Walmart stores and 150 Sam’s Club locations. The business is on track to reach $5 million to $6 million in revenue for the year, which solidifies its position in the competitive food market.
What Makes PhoLicious Stand Out?
Pho, one of the most beloved traditional dishes in Vietnamese cuisine, is known for its fragrant and flavorful broth, delicate rice noodles, and fresh toppings. However, preparing pho the conventional way can be time-consuming and labour-intensive. That’s where PhoLicious steps in, offering an instant pho solution that doesn’t compromise on the authentic taste.
PhoLicious allows consumers to experience restaurant-quality pho in the comfort of their homes in under five minutes. Each package contains a unique “pho tea bag” filled with spices such as cinnamon, cloves, and star anise, which infuse the broth with the signature rich, warm flavours of traditional pho. This distinctive touch sets its apart from regular instant noodles, which typically lack the depth of flavour that pho lovers crave.
Customers can also customize their pho by adding fresh ingredients like lime, herbs, or bean sprouts, enhancing the dish and making it feel like a homemade meal. PhoLicious was designed to maintain the traditional essence of pho while offering the convenience of instant preparation, making it the perfect solution for busy individuals and pho enthusiasts alike.
Shark Tank PhoLicious Pitch
Joseph and Anh took to the Shark Tank stage with an impressive pitch highlighting their journey and the vision behind PhoLicious. The two entrepreneurs sought $500,000 for 10% equity in their business. At the time, they were already experiencing steady growth and had garnered an increasing following for their unique instant pho product.
They presented their product’s pricing structure: it costs $1.75 to produce one bowl of PhoLicious, which is sold wholesale for $3.89 and retails for $5.48. This pricing allowed them to maintain healthy profit margins while keeping the product affordable. By the time they made their pitch, it had already seen significant sales growth, reaching $438,000 in 2022 and $2.1 million in 2023.
What caught the sharks’ attention was the $250,000 house sale that Joseph and Anh made to fund their business, showing their commitment and risk-taking to get PhoLicious off the ground. The sharks were impressed by the growth potential and the company’s ability to scale quickly. However, they also had reservations about the equity offered and the competitive nature of the food industry.
Kevin O’Leary, known for his straightforward approach, offered $500,000 for 20% equity. This offer was intended to help them scale faster and access new distribution channels. Daniel Lubetzky, the guest shark with experience in the food industry, matched Kevin’s offer but wanted 20% equity, given the work required to make the business successful.
Joseph and Anh countered with a 12% equity offer, which Daniel immediately declined. Kevin, however, was willing to meet them at 15% equity, and they accepted his deal, ultimately securing an investment that would help them to take new heights.
Growth After Shark Tank
PhoLicious experienced an immediate boost in sales after their appearance on Shark Tank. Kevin O’Leary’s guidance and support helped the company expand its reach, particularly in major retail stores. As of 2024, PhoLicious is sold in over 450 Walmart locations and 150 Sam’s Club stores across the United States. The product has been well-received by customers, with each Walmart location selling an average of 30 bowls per week across all the flavours. This growing demand has allowed the business to scale quickly and efficiently.
The company’s revenue trajectory has been impressive, growing from $68,000 in 2021 to a projected $5-$6 million in 2024. This exponential growth is a testament to it’s quality, innovation, and ability to capture the attention of consumers who are increasingly looking for convenient, high-quality meals. Additionally, by maintaining authentic flavours, PhoLicious stands out in the crowded instant meal market.
The Key to PhoLicious’ Success: Distribution and Innovation
A major contributor to it’s success is its ability to secure prime retail partnerships. In addition to its presence in Walmart and Sam’s Club, the company has continued to explore new distribution channels. By the end of 2024, PhoLicious plans to add its product to an additional 107 Sam’s Club locations, increasing accessibility for consumers nationwide.
PhoLicious has also leaned heavily on product innovation. The development of the “pho tea bag” system has become a signature element of their product, allowing customers to experience the rich flavours of traditional pho quickly and conveniently. Furthermore, their ability to scale production while maintaining product quality is a key differentiator in the crowded food market.
In Autumn 2024, PhoLicious participated in the Walmart Open Call, a prestigious event inviting small businesses to pitch their products to Walmart’s buyers. During this event, the Trousdales shared their success story, highlighting their growth and reflecting on the lessons learned from their Shark Tank appearance. This event bolstered their reputation and gave them a platform to share their journey with other entrepreneurs.
The Future of PhoLicious: Expansion and New Opportunities
Looking ahead, the future is bright for PhoLicious. The company has shown that it can thrive in a competitive market by offering a unique, high-quality product that meets consumers’ growing demand for authentic, quick meals. PhoLicious has proven that there is a significant market for authentic ethnic cuisine in convenient forms, and this is just the beginning.
The following steps for PhoLicious include expanding distribution to more retail stores, possibly venturing into online grocery delivery platforms, and exploring the development of new products that could further tap into the convenience food market. Additionally, PhoLicious could broaden its product offerings to include other Vietnamese dishes, offering consumers even more options for convenient, authentic meals at home.
PhoLicious is well-positioned to expand its footprint in major national retailers and regional and international markets, capitalizing on the growing global appetite for authentic, convenient ethnic foods. With its commitment to quality and authenticity, it has the potential to become a leading brand in the ethnic convenience food space.
Conclusion: PhoLicious’ Journey from Startup to Success
PhoLicious is a prime example of how a business can grow by offering a unique product that caters to consumer needs. Joseph and Anh Trousdale’s dedication to creating authentic, quick pho has led to a thriving business with a bright future. Thanks to their appearance on Shark Tank and the subsequent investment from Kevin O’Leary, PhoLicious has successfully scaled its operations and expanded its reach, making its products accessible to customers nationwide.
With increasing demand, innovative product offerings, and strong retail partnerships, PhoLicious is poised to continue its success in the years to come. For pho lovers everywhere, PhoLicious has become a game-changer in how we enjoy this beloved Vietnamese dish, making it easier than ever to savour the rich, comforting flavours of pho at home. The company’s commitment to authenticity and convenience has proven the perfect combination for success in today’s fast-paced world. As PhoLicious moves forward, it’s clear that the company has much more to offer, and the future is full of exciting possibilities.
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