Daisy Cakes Net Worth: Many families save secret recipes that are passed down from generation to generation. When Kim Nelson’s great-aunt taught her to make a cake everyone would love, she turned that skill into a Daisy Cakes business. Kim was able to make a deal with Barabara Corcoran, who is very picky about the investments she makes.
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What is ‘Daisy Cakes’ all about?
Kim Nelson, the founder of Daisy Cakes, had her life turned upside down when her business was shown on Shark Tank. But really, this is just another cake shop. They taste so good that no one could say no.
Will you tell me how Daisy Cakes got her money and fame? The secret recipe comes from her grandma, and people couldn’t get enough of it. Daisy Cakes ships nationwide, but the business is based in Pauline, South Carolina, and Las Vegas. She said she shipped the cake in dry ice to keep it fresh.
Kim began her business on a small scale, making only 2,000 cakes a year for the first two years. Kim got a $93,000 loan from her folks to start her business. With that money, getting off the ground and gaining customers would have demanded wealth to grow so much in 2022 with their help.
Daisy Cakes Net Worth in 2024
Looper states that Daisy Cakes has a $3 million fortune in 2024. The Daisy Cakes website crashed for 3 minutes after her show aired because it got 75,000 hits in that time. Two thousand cakes were bought in just 24 hours. There was no activity on the page for 4 hours. She had already sold over 5,000 cakes. It made 25,000 cakes in two months.
Daisy Cakes’ net worth is mainly affected by the fact that it is 100% local. In New Jersey, even the pans are made with care. At this point, more than 240 people work for the company. At first, she moved to a bigger space and had shops in Savannah, Nashville, and even The Bronx. However, the plant moved back to South Carolina because of problems with the contract and quality.
With $1.2 million in sales yearly, Daisy Cakes’ net worth grew in 2020 alone. Now, 18,000 cakes are sold every year. There will be more to look into shortly, and it should be more successful.
Daisy Cakes’ Appearance on Shark Tank
Kim Nelson went on season two of Shark Tank in 2012 and asked for $50,000 in return for 25% of her new business. The founder of her company has yet to come up with anything new, but she thought the taste of her cake would be enough to get a deal.
It was delicious because all the male Sharks ate everything on their plates. The Sharks told them they would buy from the business but not invest in it because it would take a lot of work to make it a big brand. They were all out.
The last Shark left was Barbara Corcoran, the only one who thought Daisy Cakes had a chance. Barbara offered $50,000 in exchange for a 25% stake and a fee of $1 per cake. Nelson took the offer, even though he had to pay a fee.
What Happened to Daisy Cakes After Shark Tank?
Kim sold 2,000 cakes one weekend after her show played on national TV the next day. It was good for business, but it hurt her health. This led the businesswoman to make changes.
Kim opened bigger shops in New York, Tennessee, and Georgia to grow her business. She was able to make $100,000 a month this way. However, the company lost $165,000 because of problems with its contracts.
So, the making of the goods was moved back to South Carolina. The cake business got back on its feet in 2019 and opened a second location in California. Daisy Cakes makes $4 million annually and is worth about $3 million as of November 2021.
Does Daisy Cakes still in business?
As you might expect for a business on “Shark Tank” more than ten years ago, Daisy Cakes has undoubtedly grown. The company currently sells a wide range of handcrafted items on its website. These come in tastes like chocolate, velvet, carrot, lemon, coconut, and more.
Daisy Cakes also sells a line of holiday cakes for each month of the year. For example, in January, they have a banana walnut cake; in December, they have a spiced gingerbread and eggnog cake. You can even buy “Daisy Cakes, Share a Slice of Love” and “Daisy Cakes Bakes,” two baking books by the company’s founder, Kim Nelson, from Amazon and Barnes and Noble.
Nelson’s business has been in a lot of high-profile TV shows and talks over the years, such as “Good Morning Columbia,” “The Jeffrey Lampkin Show,” “Today,” “The Queen Latifah Show,” and “ABC Columbia.” The team at Daisy Cakes is busy on Instagram, Twitter, and Facebook, so it’s easy to know what’s happening. It is thought that Daisy Cakes makes $4.6 million a year and has a net worth of $3 million.
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