Tod Wilson came onto the premiere of
Shark Tank Mr. Tod’s Pie Factory Update
- Entrepreneurs: Tod Wilson
- Business: Pie Business
- Ask: $460,000 for 10% equity
- Result: $460,000 for 50% equity
- Sharks: Barbara Corcoran and Daymond John
Tod revealed that his company had sold more than $850,000 dollars in pies during the previous calendar year. This was an impressive financial figure, but it wasn’t enough to immediately convince the sharks to invest.
MR. TOD'S Box of 10 Individual Southern Style Sweet Potato Pies made with hand selected North Carolina Jumbo Yams whipped together with the finest spices, European style butter and pure flavor extracts make the best sweet potato pie. And a slowly mixed pastry flour dough makes the perfect pie crust. Each box contains 10 individually wrapped (4") pies.
More than half of Tod’s revenue was generated from a single flavor of his sweet potato pie. The sharks were interested in learning more about why Tod had so many different pie flavors rather than focusing on the one that generates the most revenue. It was a difficult question for Tod to answer, but the sharks remained persistent and wanted answers.
Robert Herjavec was the first shark to drop out because he didn’t trust the financial discipline of Tod. Kevin O’Leary also dropped out because he admitted that he would need a lot of equity in order to make the deal work. Daymond John and Barbara Corcoran ultimately teamed up and offered $460,000 dollars in exchange for half of the company’s equity. Tod Wilson accepted their offer.
The Mr. Tod’s Pie Factory update is interesting in a lot of ways since it was the first company ever featured on
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