Dan and Liz Holtz make and sell their 100% all-natural cookies, which contain no dairy, no eggs, no gluten, no cholesterol, and no trans fats either! Will they earn a deal on
Shark Tank Liz Lovely Cookies Update
- Entrepreneurs: Dan and Liz Holtz
- Business: Artisan cookies
- Ask: $200,000 for 10%
- Result: No deal
- Shark: None
Dan and Liz brought their vegan-friendly Liz Lovely Cookies to
Unfortunately, Kevin O’Leary was the first to speak up that the cookies were less than lovely. Eventually, other sharks would echo this sentiment, stating that the cookies didn’t taste as good as the classic alternative.
Robert Herjavec would be the first to inquire about sales, to which Dan answered that they sold just under $1 million the previous year.
Unfortunately, further questioning revealed that the Holtz family only made a 10% profit. In response, the sharks went on a mission to uncover what led to the poor profit.
Dan divulged that it cost them only $1 to make a 2-pack of cookies, and the MSRP had them for sale between $3.99 and $4.99.
Dan admitted that his $1 million in sales was insufficient and that, in this business, it needed to scale up to $10 million before major brands would pick up the line.
Daymond John was the first to go out, simply because he didn’t enjoy the cookies. Barbara Corcoran went out next, citing serious concerns about getting her investment back.
Robert was next to drop out, similarly stating that he foresaw a long journey for Dan and Liz, that he didn’t want to be a part of.
Kevin, the first to state that he didn’t like the cookie, said Dan was a “great salesman” but he “hated the product” and, for that reason, he was out.
That left Mark Cuban, who was a known gluten-free advocate but found serious issues with the company’s valuation. He asked Dan to revise the offer, so the couple stepped out to deliberate privately.
Upon returning, Dan amended the offer to receive $200,000 for 20% equity, to which Mark simply replied, “No, thank you”, and Dan and Liz left
What happened next? Keep reading our Liz Lovely Cookies update to find out!
While the company didn’t get a deal on
By 2014 however, Dan and Liz divorced, and Dan left the company. Liz began outsourcing the baking, but was not satisfied with the quality, causing her to suspend operations in 2017 and sadly it never resumed.
In 2018, Liz filed for Chapter 7 Bankruptcy with a staggering $636,024 in business-related debts. This will be our final Liz Lovely Cookies update.
Would you like to learn about the other companies featured on Season 4 Episode 3? Follow the links below!
For even more on companies and products, be sure to stop by our Season 4 Products Page!
Shop the Shark Tank Recap Store
Jennifer is an avid Shark Tank fan that has been watching the show for years. She serves as Senior Editor at Shark Tank Recap and ensures that all our information is accurate and that our posts are up to date. Her favorite Shark Tank products are Le-Glue and Ring!