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Monday, February 25, 2019

Successful Female Entrepreneurs Who Were Featured on Shark Tank

Shark Tank fans - are you aware that some of the most successful businesses on Shark Tank have been led by female entrepreneurs? Read about 3 of the most successful female entrepreneurs on Shark Tank, and how you can support their expanding businesses!
  1. Wicked Good Cupcakes
    In 2010, mother-daughter duo Tracey Noonan and Danielle Vilagie went into business together, opening up their first cupcake store in 2011. After their cupcakes grew in popularity, they began receiving messages from hungry customers to ship their cupcakes to distant locations. That’s how they came up with cupcakes in a jar - mason jars keep layers of frosting and cake fresh for up to 10 days!

    Thus, began their journey to Shark Tank, Kevin O’Leary (a.k.a Mr. Wonderful) struck a deal with them for $75,000 and a $1 cut from every cupcake sold until they were able to pay him back. O’Leary continues to reap profits from this incredible business with a royalty of 45 cents going to him for every cupcake sold. O’Leary has called it one of the best deals he’s ever made, and it becomes abundantly clear why when you learn that the company generated $3 million dollars in revenue in 2014.
  1. Simple Sugars
    11-year old Lani Lazzari struggled for hours in her mom’s kitchen, mixing vials and sugars together to create an at-home remedy for her eczema. She found success using all-natural ingredients, and as a pre-teen, she roamed local markets and craft shows selling her products. Eventually, e-commerce took her modest business to the next level.

    She took some time off from her schooling to focus on growing her business. She traveled cross-country on a public relations tour, impressing the producers of Shark Tank with her charisma and business knowledge. She debuted her line on the show in 2012, signing onto a deal with Mark Cuban who offered her $100,000 for a 33% stake in the company. Immediately after the show aired, Simple Sugars amassed nearly $600,000 in sales over the course of 3 days. In 2018, she reached $2.5 million dollars in sales.
  1. EverlyWell
    CEO and founder of EverlyWell, Julia Cheek, did not anticipate great success as an entrepreneur. Though she earned an MBA from Harvard Law School, she was hesitant to venture into start-ups. However, the inefficiencies and confusion in the healthcare system - especially over lab testing - weighed heavily on her mind, and she felt passionate enough about her product to start building her business.

    EverlyWell brings lab testing straight to the consumer, offering a range of at-home tests that include STD checks, assessing hormone levels, and testing for food sensitivity and metabolism performance. Her consumer-to-business model and a $20 million evaluation intrigued investors on Shark Tank. Lori Greiner secured the deal by offering a $1 million line of credit for 8% interest. EverlyWell became one of the fastest-growing healthcare startups, raising an additional $5 million dollars in funding.

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