Doughbar Secures $300,000 Investment from The Sharks
WHAT MADE THEM WANT TO APPLY?
We think it goes without saying that going on Shark Tank is the Holy Grail for hungry entrepreneurs. We've always loved Shark Tank, but when we started our business, we embraced it even more knowing what it could do for our family/company. Listening to the stories of entrepreneurs “like us” felt therapeutic. While we felt as though we took the advice the Sharks gave to others to heart and dreamt what it would be like to have such incredibly successful mentors, we never thought it would be possible. But when we found out Shark Tank was auditioning in our city, we felt we had no excuse but to try!
WHAT WERE THEIR FEELINGS ABOUT THE INTERVIEW PROCESS?
We spent a lot of time preparing for the audition process with Shark Tank. We knew tens of thousands of people tried to go on the show every year, so we knew it would be difficult to stand out. We decided we would do our best to showcase ourselves and our product authentically, while ensuring our protein doughnuts were served fresh and warm for the casting team! The first time we auditioned was at a mall, so we had to bring a rolling cart and camp out with a microwave in the middle of the shopping center. One of our team members (our first employee, Bryson!) waited patiently until we came close enough in the line for him to heat and glaze the doughnuts. Marquez sprinted from the outlet by the escalator with the warm doughnuts to serve them promptly to the casting team. It was a whirlwind, but we we were thrilled that our protein doughnuts were enjoyed by all! We didn't make the cut that year, but we took a leap of faith and auditioned a second time the following year. While we were nervous the second time around, we felt overwhelmed with excitement and confidence that not only did we bring a delicious product to the table, but this time we had more experience and sales to back it up.
WHAT WAS IT LIKE WALKING INTO THE SHARKS?
We spent an insane amount of time practicing our pitch, we felt confident. We had photos of the Sharks at home on the wall with lists of questions they often asked and facts about each Shark. We felt a little like detectives investigating serial killers, but it was the best way to visualize the Sharks and prepare for their questions! It was an early morning before the Sharks, but we got a decent amount of sleep the night before (as much sleep as you're going to get with a 3 month old). We made sure we ate that morning, although we picked at bananas, Ondrea ate a doughnut and we both sipped Diet Coke the entire time we waited for our turn. When we finally got backstage, we held hands and said a prayer, making the sign of the cross, knowing we came as prepared as we possibly could have been. Our nerves have never been so high as they were when we walked down that hallway. By the time we were ready to pitch, the excitement completely overtook the nervousness.
WHAT ADVICE DO THEY HAVE FOR YOU?
Go for it! Be confident as an entrepreneur, believe in your business and trust that you will be successful, with or without Shark Tank. As a small business owner, Shark Tank is so much more than a "TV Show", it's an incredible opportunity to partner with someone highly intelligent, gritty and successful who will empathize with your dreams! But also remember that it is a television show, so there will be certain aspects that must be exciting and attractive to a large scale audience. Whether or not you feel your business is "hot" enough to be on tv, go for it anyway, and don't be discouraged if you don't make it. Don't be afraid to try again; sometimes the second time's the charm!
Read the Full Article and Learn More About Doughbar at: https://www.doughbardoughnuts.com/pages/shark-tank