Wally Amos, aka “Famous Amos,” pitches his new cookie company – The Cookie Kahuna – in Shark Tank episode 804. He's been developing the business since 2012 which uses his original recipes from the 1970's. He plans on selling hand-baked, small batches of cookies online from his Honalulu based bakery.
Nearly everyone of a certain age remembers Famous Amos cookies. Mr. Amos started that business as a small shop on Sunset Boulevard in Hollywood, California with a $25,000 investment from entertainers Marvin Gaye and Helen Reddy. In his second year, he did over $1 million in sales and by year 7, he did $12 million. In 1982 he branched out to sell his products in supermarkets. By 1988, he was bleeding money – he lost $2.5 million and an investor bought him out for $3 million. After several acquisitions over the years, the Famous Amos brand is still in existence; it's now owned by the Kellogg Corporation.
Amos blames the downfall of Famous Amos to poor decision-making on his part, but he never lost the hunger for making a good cookie. In the 1990's he started another cookie company, but got sued out of business by the owners of Famous Amos. He also owns Uncle Wally's Muffins, which are sold in over 10,000 retail outlets all over the USA.
Amos' first love is still cookies and he's serious about building the Cookie Kahuna brand. He's using all his original recipes from the 1970's and making them fresh to order.
Amos likely wants a Shark's help growing his baking capabilities. Will a Shark cook up a deal with this famous Kahuna?
The Cookie Kahuna Shark Tank Recap
Wally will pitch the panel of five Sharks on the business and its prospects for growth. He’ll need to convince Mark Cuban, Barbara Corcoran, Kevin O’Leary, Lori Grenier, and Robert Herjavec that the company is worthy of a Shark investment. A good business plan, good financials, and sales data will impress the Sharks, but he’ll need to show them HE is capable of running the company to “Shark standards." A full pitch re-cap on The Cookie Kahuna will be available on Shark Tank Blog once this episode airs.
The Cookie Kahuna Shark Tank Update
The Shark Tank Blog constantly provides updates and follow-ups about entrepreneurs who have appeared on the Shark Tank TV show. Once an episode has aired, we monitor the progress of the businesses featured, whether they receive funding or not and report on their progress. The Shark Tank Blog will follow-up on The Cookie Kahuna and Wally Amos as more details become available.