FryAway Lands Funding From Two Sharks on Shark Tank

Laura Lady, founder of NH-based FryAway, landed not one but two sharks after entering the Shark Tank. The entrepreneur appeared on the episod eof the popualr ABC series on Friday, Jan. 27. On the show, entreprenurs try to conivince successful investors to buy a stake in their busienss and become advisors.

Lady, who was profiled in the September issue of Business NH Magazine, has worked as an executive for some of the biggest toy companies in the world, including Fisher Price, Mattel (where she helped launch Disney’s line of dolls from the movie Frozen), and most recently managing Lego’s Friends line for girls in Denmark.

She began experimenting with ways to turn cooking oil into something easier to clean up and dispose of without it going down a drain or put into a container that could otherwise be recycled. When the pandemic hit and her family relocated from Boston to Webster, NH, she resumed her quest to develop a product to address cooking oil waste and, after four months, she’d invented Fry Away, which uses a plant-based, non-toxic powder that reacts with vegetable oil to solidify it.

FryAway comes in pre-proportioned  single-use packages as well as a large size with a measuring cup and it’s available on Amazon, Walmart Marketplace, as well as in independent stores in the United States and Canada.

Lady says the business is growing quickly and consistently ranks first on Amazon Launchpad and Amazon Greener Living.

On Friday's episode, two of the sharks—Mark Cuband and Lori Greiner—vied for a stake in FryAway. Lady was initally seeking a $250,000 investment for a 10% stake in her company. Greiner countered, saying the company had not done enough sales yet to justify that valuation and countered with an offer of investing $250,000 for a 20% stake. Cuban then asked Greiner if she wanted to work together on a deal with FryAway. 

When asked what she would offer the two sharks if they were to partner, Lady asked if they would do a deal for $250,000 for a 20% stake. Greiner asked if Lady would do a deal at a 25% stake. Lady countered again with the same 20% stake. Cuban came back with a proposal for a 22% stake, which Greiner also wanted to propose.

Lady responded, "You're nickel and diming me now," to which Cuban quipped, "Absolutely."

Greiner added, "We're worth it, baby," with Lady responding, "I'm worth it, baby."

With two sharks as part of the deal, Lady agreed and sealed the deal.

For more information, visit fryaway.co.