Shark Tank Season 2 Episode 5
ENTREPRENEUR: Kim Nelson
PITCH: Daisy Cakes
ASKING FOR: $50k for a 25% stake
BEST PART OF THE PITCH: Kim makes her cakes from scratch using family recipes. She provides some tasty samples which go over well. Who knew sharks liked icing? You can call or order the cakes from Kim's web site. She packs them in dry ice and ships them nationwide. Cakes sell for $44.50 at a cost of $18 to make. In three months, there has been $27,000 in sales. Kim is also in the process of having her lemon curd carried in Whole Foods stores.
DO THE SHARKS BITE? The Sharks want to know how Kim will supply a huge demand, as only she and her mom are baking the cakes right now. Kevin O. thinks the cakes are great, but isn't ready to take on the task of turning this into a big business. He's out. Kevin H. doesn't think the growth will be fast enough, so he's out. Robert and Daymond can't invest in such a small business either. They're both out. That leaves Barbara.
THE RESULT: Barbara also thinks this is a small business. However, every Shark in the tank devoured Kim's cakes. She wants a dollar for every cake sold until she gets her money back. It's a sweet deal. Kim leaves the shark tank with a brand new partner. Whatever happens from here on out is icing on the cake!