got a new $50,000 investor on ABC’s Shark Tank
Kim Nelson, the cake baker from Pauline, was on Shark Tank April 22 looking for help from the sharks. She told the five sharks she and her mother, Geraldine Adams, make each cake, following recipes from her grandmother and Great Aunt Daisy. Nelson asked for $50,000 for a 25 percent share of her business. .
Shark Tank brings entrepreneurs in to present their best case for their business idea and try to convince a group of investors – the Sharks – to back them financially.
Four of the Sharks said they loved the cakes, but they thought Daisy Cakes was too small a business to invest in.
But shark Barbara Corcoran noticed that after they turned Nelson down, “they bent forward, I noticed, and had another bite of cake.” In fact, shark Robert Herjavec called his slice of carrot cake “the best cake I’ve tasted.”
Cocoran came through with $50,000 on two conditions: that Nelson send her $1 from each of the next 50,000 cakes she sold, and that she ensures her mother is on her team to continue making cakes and selling them at trade shows.
In the closing segment, Nelson said,” My business is going to skyrocket.”
It apparently did over the weekend. The Daisy Cakes Facebook
page went from fewer than 500 friends before the show aired on Friday night to more than 2,500 by Sunday afternoon. Nelson had enlisted friends and family to return phone calls, and her website
was straining to keep up.
We’ll catch up with her soon to see exactly how she plans to grow her cake business.
The Daisy Cakes segment earlier had been scheduled to be shown on April 29.