Why Did Shark Tank Fail To Invest In Long Table Pancakes?
Why Did Shark Tank Fail To Invest In Long Table Pancakes? Long Table Pancakes did not receive an investment on Shark Tank due to concerns about its financial performance, marketing strategy, and overall business model. However, the post-show exposure led to significant growth, demonstrating the potential for success despite the initial setbacks. Samuel Taylor’s efforts…
Why Did Shark Tank Fail To Invest In Long Table Pancakes?
Long Table Pancakes did not receive an investment on Shark Tank due to concerns about its financial performance, marketing strategy, and overall business model. However, the post-show exposure led to significant growth, demonstrating the potential for success despite the initial setbacks.
Samuel Taylor’s efforts to improve marketing and expand distribution have been instrumental in the company’s continued success.
Samuel Taylor appeared on Shark Tank Season 14 to pitch his company, Long Table Pancakes. His business produces pancake and waffle mixes made from nutritious whole heirloom grains. Samuel was seeking $140,000 for 15% equity in his company.
Long Table Pancakes, despite Samuel Taylor’s efforts, did not secure an investment on Shark Tank for several reasons:
Reasons for Rejection of Long Table Pancakes:
- Low Financial Traction:
- Revenue Concerns: Samuel Taylor reported total sales of only $250,000 over eight years, with annual sales peaking at about $20,000 before 2020. The Sharks were concerned about the relatively low revenue and slow growth of the business.
- Lack of Social Media Presence:
- Marketing Issues: The Sharks were particularly worried about Long Table Pancakes’ weak social media presence. Samuel admitted that social media marketing was a weak point for him, which raised concerns about the company’s ability to scale and reach a broader audience.
- Company and Product Fit:
- Product Appeal: Lori Greiner, while acknowledging the quality of the pancakes, was not passionate about pancakes and decided not to invest. Similarly, Barbara Corcoran and Gwyneth Paltrow did not see sufficient momentum or potential for growth in the business. Mark Cuban had fundamental issues with the business model, and Kevin O’Leary was deterred by the lack of a robust social media strategy.
- Business Model and Branding:
- Company Name and Branding: Mark Cuban also had issues with the company name, and the overall branding did not resonate well with him or the other Sharks. This contributed to the decision to pass on the investment.
Post-Shark Tank Developments:
- Increased Sales Post-Appearance: Despite not securing a deal, the exposure from Shark Tank led to a significant increase in sales. Shortly after the episode aired, Long Table Pancakes experienced a surge in orders, with the website crashing due to high traffic. Sales jumped from $250,000 to $1.25 million within eight months of the show airing.
- Business Growth: Samuel Taylor expanded his team, hired a social media manager, and increased his product distribution. The company is now valued at an estimated $1 million and continues to operate successfully.
- Product Recognition: The products have been well-received, with positive feedback from customers. The company’s growth in the market reflects a strong consumer interest in their organic and vegan pancake and waffle mixes.
