'Shark Tank' contestant breaks down in tears after meeting her inspiration and getting $200,000 deal
Entrepreneurs on “Shark Tank” come prepared to withstand ruthless comments and sharp criticism from judges, and they don't break down even if they're turned away empty-handed. But sometimes, getting a deal that seems like a dream come true can be overwhelming for a contestant. One of the founders, who was unable to contain her emotions after getting a life-changing deal, was Kimy Aguirre. The entrepreneur sought $100,000 for a 10% stake in her company, Doatnut.
It was a baking company that made gluten-free, low-calorie donuts that tasted just as good as the real thing. Aguirre said that she used monk fruit as the sweetener along with other ingredients such as oats, sweet potatoes, and egg whites. The entrepreneur also claimed that she was inspired by guest shark Kendra Scott.
“This is a full circle moment for me because my very first pop-up event, I sat at my table next to this most beautiful table that had some gorgeous jewelry on it. And I walked over to introduce myself to the gal, and she said, 'This is Kendra Scott jewelry,' and she went on to tell the story of how you started in your spare bedroom with $500 and that you went from boutique to boutique. And at that moment, I dared to dream,” she said.
But, despite that emotional story, Aguirre simply did not have enough numbers. She had only made $50,000 in sales year-to-date, and lifetime sales at the time were $350,000. This was too little, and since the owner did not have detailed plans for scaling or making the business bigger, Kevin O’Leary said no.
Daymond John and the entrepreneur’s inspiration, Scott, also did not make an offer. The entrepreneur had already been in tears once before speaking about her journey to get where she was, and at this point, she thought that she wasn’t going to get an offer. However, Mark Cuban and Lori Greiner swiftly came to the rescue.
Both the sharks believed that they’d be fantastic investors to make the product blow up, as Greiner's experience in the grocery market and Cuban’s reputation as an ambassador for healthy eating could make Doatnut big. But the sharks asked for 30% of the business for $150,000. The entrepreneur was hesitant about the offer, but the sharks sweetened the deal by agreeing to pay her $200,000.
This was an agreeable offer, and a deal was struck. It must have been a big deal for Aguirre, who was in tears for a lot of the segment. All the sharks agreed that she had a great product and the tenacity to become successful in a highly competitive industry.
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'Shark Tank' judge Daymond John tears up after his wife and daughter showed up during a pitch
