Mother-daughter team Tracey and Danielle Noonan, sell gourmet cupcakes in jars, and they’re wicked good! Will the sharks agree on
Shark Tank Wicked Good Cupcakes Update
- Entrepreneurs: Tracey and Danielle Noonan
- Business: Gourmet cupcakes in jars
- Ask: $75,000 for 20% equity
- Result: $75,000 for $1 royalty until the investment is recouped + $0.45 in perpetuity
- Shark: Kevin O’Leary
Tracey and Danielle built their company, Wicked Good Cupcakes, out of a passion for baking. They were eager to show off their jarred cupcakes, a solution to extend the shelf life of their delicious gourmet cupcakes. They ran a Boston bakery, where they sold products and shipped jarred cupcakes nationwide.
The sharks found the jarred cupcakes delicious, and Lori Greiner complimented the Noonans’ thick Boston accents. Robert Herjavec asked about sales, learning Wicked Good Cupcakes had sold $73,000 year-to-date of the jars, while the retail location combined for a total of $150,000. They projected to finish the year at $360,000.
Kevin O’Leary asked about the shelf life of a cupcake in a jar, learning it was only fresh for seven to ten days. Lori asked if there was a way to extend the shelf life. Tracey said they could use preservatives, but this could affect the taste of the cupcake.
Mark Cuban asked how much it cost and sold for, learning the 8oz size cost $2.15 and sold for $5.95, while the 16oz version cost $3 and sold for $8.95. Kevin guessed that the business would be exclusively online considering the margins, but Tracey said they did sell some wholesale at $3.
Robert interjected to say he was “not a big dessert guy” and found the product was “too sweet” for his tastes. His lack of interest combined with his concerns led to him going out first.
Daymond John, on the other hand, said he was a big dessert guy, and investing in Wicked Good Cupcakes would make him a bigger, and bigger, and bigger, and bigger dessert guy. Everyone laughed at Daymond’s joke but, all joking aside, he was out.
Lori said she loved the product and thought the Noonans were great, but the problem with the product’s shelf life gave her pause. For this reason, Lori was out.
Mark felt the cupcake trend was a hot one at the moment, but he didn’t feel he was a good fit for the investment. For that reason, he was out.
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As he says, all roads lead back to Mr. Wonderful. Kevin said he would make an offer because he loved the product, but hated the margins. He offered $75,000 and asked for no equity. Instead, he wanted $1 for every jar sold until his investment was recouped, at which time it would drop to $0.50 in perpetuity.
Tracey asked if they could step into the hallway to discuss. Mark told them they might as well, because the offer couldn’t get much worse than that. Once out of the room, Robert asked Kevin how much they’d be left with after giving Kevin $1 royalty. Kevin said without a hint of remorse, “Practically nothing.”
When the ladies returned to the tank, Mark and Lori immediately urged the Noonans not to “cripple” their business by taking on too much in terms of royalties. Kevin dismissed them, saying “talk is cheap.”
Tracey asked if Kevin could drop his perpetuity from $0.50 to $0.40. Kevin said at $0.45 they’d have a deal. Just like that, Tracey opened her arms and said, “Come to Mama!” The deal was done. What happened next? Keep reading our Wicked Good Cupcakes update to find out!
After securing the deal with Kevin, Wicked Good Cupcakes next secured a 15,000 square foot commercial baking facility to run operations from. They opened a second location in Faneuil Hall, and then a third in South Shore Plaza Mall. Before long, Kevin’s investment was paid back and the business was cruising toward $2 million in sales.
We have great news to share int our Wicked Good Cupcakes update! In a season 7 update segment, the Noonans revealed they had succeeded in hitting $5.5 million in lifetime sales. Since then, the company went on to exceed $40 million in lifetime sales, and Mr. Wonderful earned more than $1 million in royalties. In 2021, Hickory Farms approached Wicked Good Cupcakes, offering a “multi-million dollar buyout,” a deal which the Noonans accepted. We’re not sure what Tracey and Danielle are up to today, but we know they are millionaires and Wicked Good Cupcakes are still sold today.
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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!