Doughp: Sharks Opt Out of World Cookie Domination
I don’t know about you, but I love cookie dough, it reminds me of baking cookies as a child. Sweet, delicious, and a variety of flavors and the perfect indulgent dessert every once in a while. However, as delicious as I think cookie dough is, it’s definitely not something I could eat every day, it’s way too sweet and unhealthy if consumed too regularly. My opinion seemed to resonate with the Sharks when Kelsey and Doughp Cookie Dough stepped into the Tank.
The Season 10, Episode 22 of Shark Tank saw a completely new batch of entrepreneurs come in, all hoping to secure an investment from one of the Sharks. There were pitches about office space, condiment containers, and desk models as well. Kelsey, the second entrepreneur to enter the tank immediately appealed to the Sharks for her fantastic storytelling skills and the story behind Doughp Cookie Dough.
Dallas-born, California-raised Kelsey founded the first ever cookie dough bar in San Francisco, came to the tank seeking $450,000 for 10% equity in Doughp Cookie Dough. Kelsey has a vision of getting Doughp in every city in America by opening high-traffic storefronts and getting the cookie dough in store shelves. Doughp’s rapid growth allows it to currently serve 20,000 customers a month.
Kelsey then had six rather delicious looking samples for the Sharks to try; Avacadough which is a vegan brownie cookie dough, the O.G. which is chocolate chip, the vegan O.G., Cinamood which is snickerdoodle, Raisin’ the Roof which is oatmeal raisin flavored, Chocoholic which is pure chocolate, and This S’more is Hella Doughp. Scoops of cookie dough come in three sizes: Self Control, Legit, or Fully Commit, that satisfy any craving for cookie dough.
Kelsey then went on to explain how she has a storefront in Pier 39, a popular tourist attraction. She then explained how she got into the cookie dough business. She had been working in tech, Intel specifically, for 10 years, since she was a high school student and during that time due to the pressure, she put on herself, developed an unhealthy relationship with alcohol. She turned sober three years ago, and that changed her life, especially when she decided to pursue her entrepreneurial dreams.
In the first year and a half, Doughp has mad $850,000 in sales, with a 35% net ratio on the income. Doughp is expected to make $2.25 million dollars in sales next year. Kelsey has plans to expand Doughp by expanding into more storefronts; she was in lease negotiations with a mall in the Las Vegas strip. It costs 68 cents to make a scoop of cookie dough which is sold for $6.
Robert was the first Shark to say he was out, he complimented her as an operator, liked her sale numbers and profits, but he didn’t like the cookie dough so he said he was out. Barbara was the second Shark to say she was out, for similar reasons to Robert, she doesn’t like cookie dough. Lori was the third Shark to say she was out because she didn’t believe that cookie dough was a healthy enough product to back. Kevin, didn’t agree with Kelsey’s $4.5 million dollar evaluation of Doughp so he was the next Shark out and Mark said he was out due to obesity levels in the United States.
Despite not getting a deal from the Sharks, Kelsey left motivated and determined to achieve world cookie domination. She has a lot to be proud of; her operating skills impressed all of the sharks, and she managed to leave a job that was stressing her out and turn her life around successfully. She has a solid customer base and has proof that her business will continue to grow. Just being on Shark Tank will also generate more traffic for Doughp. I wish Kelsey all the best on her quest for world cookie domination.