$1Mfor 10%
Protein Candy
Valued at $10M
The pitch
Vincent Kang, Julie Chea from Whitby, ON, pitched Halibut House in Season 13, Episode 18, asking the Dragons for $500K for 5% of the company.
- Asked for$500K for 5%
- Valuation$10Mimplied by the ask
- OutcomeDealwith Jim Treliving
- Final deal$500K for 25%valued at $2Mplus a royalty: seat at the table with an equal say
Offers in the Den
| Dragon | Offer | Result |
|---|---|---|
| Manjit Minhas | Out - thinks Jim Treliving is the right partner for this deal | Out |
| Michele Romanow | Out - not the right partner for a franchise business | Out |
| Arlene Dickinson | Out - sitting this one out despite loving the story | Out |
| Vincenzo Guzzo | $500,000 for 15% | Declined |
| Jim Treliving | $500,000 for 25% with an equal say at the table | Accepted |
Vince Kang and his mother Julie Chea, of Whitby, Ontario, asked for $500,000 for 5% of Halibut House, one of the largest fish-and-chip franchises in Canada, which hand-fillets fish and chips its own potatoes fresh to order. The company has 21 locations across Southern Ontario, about 16 of which are owned within the family, charges a franchise fee of $35,000 with an average turnkey franchise cost of about $450,000, brings in about $1 million in annual net profit on roughly $18 million in gross revenue across locations, and runs food costs of about 35% to 40%, higher than the 23% to 25% Jim Treliving said was sustainable for franchising. Julie Chea owns 100% of the company and the family aims to expand to 400 to 500 stores across Canada.
Manjit Minhas went out, suggesting Jim Treliving was the right partner for this deal, Michele Romanow went out as not a fit for franchising, and Arlene Dickinson went out despite loving the story. Vincenzo Guzzo offered $500,000 for 15%, and Jim Treliving offered $500,000 for 25% with an equal say in the business; after some negotiation, Julie Chea and Vince Kang accepted Jim Treliving's offer.
Pitch details from CBC’s Dragons’ Den pitch page.
Halibut House today
- StatusIn businessLast checked September 2026
Halibut House is still operating and sells through its website.