If you can make it onto ABC's hit show "Shark Tank," you'll have an audience of about 10 million people to show your product. It's why even entrepreneurs who lose out on a deal often report a notable uptick in sales following their appearance on the show, which portrays negotiations between small-business owners and a panel of potential investors dubbed "Sharks."
But for those who do get a deal, "Shark Tank" can change the trajectory of their business, turning a fledgling company into a national brand.
We asked Carolyn Baumgarten, a writer for Andrew Figgins' fan blog In the Shark Tank, to identify the show's greatest success stories based on sales after their "Shark Tank" appearances.
The following entrepreneurs took a successful pitch and maximized the potential of the Shark they partnered with through focus and determination.
Wicked Good Cupcakes
Danielle Vilagie and Tracey Noonan are a mother-daughter duo from Boston with a company that makes cupcakes in a jar. In season 4, they made a deal with Kevin O'Leary in which he invested $75,000 for royalties instead of equity. He made $1 from every cupcake sold until he made his money back, and then began receiving 50 cents per cupcake sold.
Since its appearance on the show, Wicked Good Cupcakes has expanded to a new production facility and a couple of new locations, and it is planning to bring in $3 million in sales by the end of this year, WCVB Boston reports.
Lollacup
Husband and wife entrepreneurs Mark and Hanna Lim created the Lollacup as an improvement on the standard sippy cup for toddlers. Their product is BPA-free and spill-proof, and its straw is designed to catch every last drop of a drink. In season 3, the Lims partnered with both Mark Cuban and Robert Herjavec for a $100,000 deal in exchange for 40% equity.
The Lims have brought in almost $1 million in sales, making the Lollacup the most successful children's product to come out of "Shark Tank."
Simple Sugars
Lani Lazzari was just 18 years old when she entered the tank in season 4 to pitch her skincare company Simple Sugars. She ended up making a deal with Cuban for $100,000 in return for 33% equity.
Within just 24 hours of her episode's premiere, Lazzari's sales jumped to $220,000 from $50,000, and she hit $1 million six weeks later. Today Simple Sugars products are in more than 700 retail locations and ship internationally. This year, the company has already brought in over $3 million in revenue.
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