One Shark Eats Up A Breakfast Brand On Shark Tank!

The shark tank at the National Marine Aquarium...

The shark tank

Last Friday, Erica Barrett walked into Shark Tank to pitch her business “Southern Culture Artisan Foods,” a breakfast lifestyle brand. Her product is  a pancake and waffle mix. She uses organic, all natural ingredients. Erica asked the Sharks for $100,000 for 25% equity in her company.

She made $100,000 in sales in the first year.  Her gourmet gift packs are available in T.J. Maxx, Nordstrom Whole Foods and QVC. Erica created a brand dedicated to crafting the most versatile and uniquely flavored pancake and waffle mixes. Erica also masterminded a never seen before food item, Bacon Rub.

Kevin offered $100,000 for a $1 royalty which would drop to 50 cents when his investment is repaid. The deal would be contingent on her working with a packaging company, because she is currently manufacturing the product herself. Barbara then jumped in and offered $100,000 for a 40% stake in the company. Erica counter offered for $100,000 for 35%.

In the end, Barbara countered one last time with 38% equity in the company which Erica agreed to. If you or anyone you know has an invention idea and needs help, please contact us at New Product Consulting.

Advertisements
This entry was posted in Inventing Tips, New Products and tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s