Blondie’s Cookies
NO DEAL
EPISODE SUMMARY
🕓 Air Date: April 13, 2012
Asking For:
$200,000 for 3%
Investor:
No Deal
Deal:
No Deal
PRODUCT SUMMARY
Blondie's Cookies Inc. handcrafts over 25 varieties of cookies and brownies, aiming to become a household name.
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Background Story
Brenda Coffman, also known as Blondie, hails from Kokomo, Indiana, where she operates retail cookie stores. Her journey began during college, where she baked and sold cookies to make ends meet. With encouragement from her family, especially her husband Mark and her mother Betty, Brenda’s passion for baking grew, leading to the establishment of Blondie’s Cookies Inc.
The dream was to emulate the success of Mrs. Fields. Over 26 years, Blondie’s Cookies expanded to 12 retail locations across Indiana and Florida. However, expansion into Florida proved challenging, with aggressive growth leading to financial strain.
The Product
Blondie’s Cookies offers a variety of handcrafted cookies and brownies, including favorites like Sprinkle Cookie, Cocoa Swirl Cookie, Chocolate Chip Cookie, White Chocolate Macadamia, and Macadamia Chewy Bar.
These treats are known for their unique taste and quality ingredients. Despite the setbacks, Blondie’s Cookies maintains a loyal customer base. Products can be purchased in their retail stores or online. Prices typically range under $2 per cookie.
How It Went
The company’s position before Shark Tank
Blondie’s Cookies Inc. has faced financial challenges, with a debt of approximately $800,000 primarily attributed to opening new stores in Florida. While their sales reached $6 million, the company reported a flat year in terms of profits due to the aggressive expansion. The Florida stores, in particular, struggled in their first year, with losses of around $175,000 each. Blondie’s Cookies seeks investment to navigate these challenges and capitalize on their brand recognition and loyal customer base.
The Negotiations:
Despite enthusiasm for the product, none of the sharks were willing to invest due to concerns over the company’s valuation and financial health. The aggressive expansion into Florida and the significant debt burden raised doubts about the company’s future profitability. While the sharks appreciated Blondie’s passion and brand, they ultimately decided to pass on the opportunity, leaving Blondie determined to continue her journey and overcome the challenges ahead.
