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Daisy Cakes is a dessert enterprise that is founded by Kim Nelson. The business is known for having a sweet southern flair and a personal touch from Kim Nelson. The recipes used in the business are said to be handed down by Kim Nelson’s mother and Great Aunt Daisy.
The business particularly bakes cakes by hand that is fresh to order. These cakes are transported all over the United States of America by Daisy Cakes, which is currently based in California.
Daisy Cakes Net Worth
The net worth of Daisy Cakes is estimated to be around $3 million.
Daisy Cakes Before Shark Tank
Kim Nelson used to work in a small company. She left her work at the company in May 2009 to start her own business. To help her start her business venture, her parents gave her $93,000. After this, Kim Nelson created a website for the business and got a commercial mixer, cake pans, suppliers, and shipping containers.
By June 2009, Kim Nelson had started working full-time on her new business. Kim Nelson named the business Daisy Cakes, after her Great Aunt Daisy who had passed down the recipe for the cakes to her mother and eventually to Kim Nelson.
Daisy Cakes During Shark Tank
Kim Nelson entered Shark Tank seeking $50,000 in exchange for a 25% stake in the company. In her pitch, she presented her business, how she started the business, and how the business has been going.
The Sharks were impressed with the sweet southern charm and the personal touch that Kim Nelson added to the cakes. The Sharks, when offered the cakes by Kim Nelson, devoured every last piece of the cakes, clearly charmed by the desserts offered.
When asked about the price and the cost of the daisy cakes, Kim Nelson replied that the cakes’ price was $44.50 and that it cost around $18.50 to produce a daisy cake. The profit margin impressed the Sharks, particularly Barbara Corcoran.
Kevin O’Leary, also known as Mr. Wonderful, and Kevin Harrington believed that the company was too small at the time to succeed and went out. They also claimed that it would take too much effort to make the company succeed.
Robert Herjavec and Daymond John also agreed to what Mr. Wonderful and Kevin Harrington said and went out. Only Barbara Corcoran was left, who liked Kim and her company and believed that the company could flourish.
She offered $50,000 in exchange for a 25% stake in the company and a one dollar per cake royalty until she recoups her investment. Kim Nelson agreed and went out with a deal. The two brainstormed ideas on how to expand Daisy Cakes and were delighted with the deal.
What Happened to Daisy Cakes After Shark Tank Deal?
After the deal with Barbara Corcoran at Shark Tank, Daisy Cakes got so much exposure that a lot of people coming to Daisy Cakes’ website crashed the website for about four hours before the first order could be made.
Kim Nelson later stated that the company immediately sold more than five thousand cakes after the deal. The company is also in the progress of selling about 50,000 more cakes to customers. Thus, increased sales indicate that the business has indeed flourished.
