'Shark Tank' contestant says yes to Barbara Corcoran's deal — and all it took was just 5 seconds
Withstanding sharp scrutiny and ruthless comments from investors is a dream for most entrepreneurs on "Shark Tank," but one judge made it possible when Loria Stern, founder of "Eat Your Flowers," walked into the show. While Stern had more offers on the table, Corcoran expressed immense belief in her and the company, convincing her to make the $250,000 deal in no time.
Stern entered the Tank seeking $250,000 for 12% of her company. She started her pitch by telling the Sharks how people love flowers and baked goods. Thus, to make things better for everyone, her company, "Eat Your Flowers," brings both elements together with baked goods decorated with edible botanicals. She told the Sharks that her products were a hit, and she also sold edible flowers for decorating and edible “flower-fetti” for sprinkling on salads and more.
As she handed out the samples to the Sharks, everyone was impressed. Lori Greiner complimented Stern on her shortbread cookies and crackers. Corcoran then asked how she came up with the idea, and Stern shared that she grew up in a small town as a tennis lover, and she came up with the idea while cooking and baking for the pros at the tennis club. She then trained to become a chef and refined her idea while operating a successful baking company out of a commercial kitchen with a staff of bakers.
Kevin O'Leary then asked the entrepreneur to share the numbers, and Stern shared that her company had made $2.2 million from lifetime sales. She added that a box of cookies costs $7 to make, and they sold for $50. To further impress the Sharks, she told them that she profited $330,000 in the previous year, and her products skyrocketed in popularity after their pictures were featured in Vogue, Oprah, the New York Times, and many other publications.
Stern told the Sharks that she was looking for a mentor, and the investment would go toward expansion and staffing. With everything laid out, O'Leary made the first move, offering $250,000 but for 25% equity.
While Corcoran was interested, she had some concerns. "I'll tell you what I love about you is that you're ambitious, but the part that bothers me I don't really get why you need another partner," she said. Stern then explained that she wanted to create products for stores like Whole Foods, and she needed people to support her. Saying that people are the most important part of any business, Corcoran then offered $250,000 for 15%. Without thinking much, Stern accepted the offer within seconds.
According to the Shark Tank Blog, the company ventured into retail, making the cookies available at California-based Verve Coffee Roasters. As of 2024, the company's lifetime sales rose to about $3.5 million.
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