A cake business is not something new. But it was the taste of the Daisy Cakes that made this business a huge success. South Carolina’s Daisy Cakes’ net worth is simply because of the quality and the deliciousness it has to offer.
The product was pitched in 2011, Season 3 Episode 311. The business is reaping a huge amount of profits and Daisy Cakes’ net worth is getting higher every year. It has been one of the most successful ventures that ever got featured on the Shark Tank. In 2022, Daisy Cakes’ net worth is close to many of the biggest names in the industry and it is still giving a hard competition.
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What is “Daisy Cakes” all about?
The founder of Daisy Cakes, Kim Nelson saw her fate turning upside down overnight after it got featured on the Shark Tank. Of course, this is just another cake business but when it comes to taste, no one could resist them. The secret to Daisy Cakes’ net worth and success? Well, it is her grandmother’s secret recipe that couldn’t help others from ordering enough. The business operated from Pauline, South Carolina, as well as Las Vegas but Daisy Cakes ships all over the country. She claimed to keep the cake fresh by shipping it in dry ice.
Kim started on a small scale and made around 2,000 cakes per year for the first two years of her business. As it was hard to launch and build Daisy Cakes’ net worth without any initial capital, Kim was able to start her business after taking a $93,000 loan from her beloved parents. If it wouldn’t be because of them, Daisy Cakes’ net worth wouldn’t have reached so high in 2022.
Daisy Cakes Shark Tank Appearance
Trying her luck to expand the business, Daisy Cakes impressed the Sharks with its impeccable taste. In the initial years, she sold each cake for $44.50. When Barbara Corcoran asked what the cost of each cake was, Kim responded $18.50. Much before her business got fame from Shark Tank exposure, she got loyal customers from being a part of “Holiday Trade Shows,” “Junior League Fundraiser,” and more. In the last three months before coming to Shark Tank, she sold more than $27,000.
Though most of the sharks loved the cakes, not all were agreeing to invest in Daisy Cakes’ net worth. But Barbara Corcoran was the shark to make the offer. Barbara understands the need for money for expanding the business and she offered $50,000 but for a 25% stake in the company. Plus, she $1 demanded, “$1 from every cake produced until she gets her investment back”. Kim came to the realization that her dreams will be finally true and she agreed with the offer.
We get to have our cake and eat it, too! We talk to Kim Nelson of Daisy Cakes about growing up in a small town, daring to quit the job that held her back, and the message from an ex-boyfriend that changed her life and got her on Shark Tank! https://t.co/meLXsNbIYQ pic.twitter.com/xkTSX7ZF79
— FeedMePodcast (@FeedMePodcast1) July 16, 2019
Daisy Cakes’ Net Worth: What happened To The Company After Shark Tank?
Daisy Cakes’ net worth is $3 million. Soon after her episode was aired, the Daisy Cakes website crashed after it received 75,000 hits in just 3 minutes. In just 24 hours, 2000 cakes were sold. The website stayed inactive for 4 hours. In fact, she had already sold more than 5000 cakes. Within two months, it made 25,000 cakes.
Daisy Cakes’ net worth is mainly influenced because it is 100% domestic. Even the pans are carefully made in New Jersey. At this time, the company has over 240 employees. She initially shifted to a larger facility and even had a shop in Savannah, Nashville, and even The Bronx. But the facility relocated back to South Carolina after having issues with quality and contract.
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In 2020 alone, Daisy Cakes’ net worth was increased by making $1.2 million in sales per year. It is now selling 18,000 cakes per year. There is more to explore in the near future and it is expected to be more successful.
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