One thing I want to ask you, though -- my guess is,
the reason you're deciding to go into the cake business
is 'cause you're not selling enough stands without a cake.
Can you tell us what your sales are there? Jordan: Yeah, absolutely.
So, we started 2 1/2 years ago.
We launched in the summer of 2018.
In that first five months in business,
we did just $10,000 in sales.
2019, we did $280,000 in sales,
and year to date, we've done $550,000 in sales.
Good for you. Congratulations.
Our run rate is projected to be $900,000.
So, you think you're gonna end the year at $900,000?
Yeah. What's your profit on that?
We're gonna net $50,000.
$50,000? But why so little?
I don't see where you guys --
We have 3 1/2 full-time employees right now
that we're paying salary to.
And how much do you sell it for? How much is it?
The popping cake stand alone is $36.99.
Plus, we charge $7.99 for shipping.
The landed cost of the popping stand is $8.
Okay, 'cause you're not gonna
sell too many of these again to anybody.
You're gonna sell them once, right?
No, 'cause they have more than one kid.
I guess you could sell -- you could reuse it, right? Use it again and again.
You could reuse it, but that's where the gift pods come in.
We want to sell gift pods for every occasion, every theme.
Liz: Exactly -- curated gift pods.
Wait, wait, wait, wait. Curated gift pods?
Yes.
You mean, you want to suggest what the gift is
that I should give to my kid?
Exactly. Another bad idea, but...
Another really bad idea.
Okay, guys, look --
there are certain horrible mistakes that companies make.
You guys are drowning in your revenue attempts.
So many companies get so amped up.
You hit $100,000 in sales. [ Exhales sharply ]
You hit $500,000 in sales. [ Exhales sharply ]
Now you're on a mission to hit a million, then $2 million,
and you're trying to come up with all these ways
just to grow that top line
because it's almost like an ego boost,
as opposed to the bottom line.
You're chasing revenue and not chasing profits,
and so for those reasons, I'm out.
Thank you. Thanks for that advice.
I'm gonna go back to my concept --
Before you go back, could you straighten out your hat?
It's driving me crazy. It makes you look weird. I think it's so funny.
This is how I wear it. Okay.
You wear your birthday hat the way you wear your birthday hat.
Okay, fine.
So, I think there's a healthy balance
on when your customer's telling you what you need
and then, yes, drowning in opportunity.
But, you know, other people up here
know baked goods better than me, so I'm out.
Thank you, Daymond. Thank you so much.
Corcoran: You know, Jordan, you have a winner on your hands.
With that amount of sales,
you should be turning a much bigger profit.
You have a successful company --
one moment --
but you haven't figured out how to get money out of it,
so I'm out.
Okay. Thank you for that advice. Thank you.
Look, there's nothing wrong with this,
and you're selling fun,
and you've got a little work ahead of you,
but the cake idea freaked me out --
but that's only 'cause I'm in the business.
I mean, I forbid you to do that.
I'm out.
Greiner: So, I love the idea.
I think this can become family tradition for people.
Exactly. It already has.
I think every New Year's -- money inside or whatever. Exactly.
But you came in asking for $200,000 for 8%.
You valued it so high.
We'll work on the valuation with you.
We'd love to do that.
Make an offer to her.
John: You can counter.
♪
Um, would you...
do the $200,000 for 12%?
Ugh. Ooooooh.
I'm sorry. I'm out.
♪
Thanks so much for your time.
Thank you. Thank you. Thank you. Thank you.
Bye-bye.
♪
Jordan: The Sharks disagree with our vision
for a one-stop shop for Surprise Cake.
We didn't agree.
We're gonna push ahead, and I know we're gonna do well.
And they're gonna really regret it.
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