Credit: IMDb
Highlights
- Shark Tank has witnessed judges secure countless deals in its decade-plus run.
- Out of all investors, Barbara Corcoran has finalized the lowest number of deals on the show.
- The reason behind the lowest number of deals is her calculative steps to avoid investing in low-returning profiles.
The exceptionally positive impact of Shark Tank is not just limited to entrepreneurs. Instead, it has significantly enhanced the mass reach of all the judges appearing on the show. Each of them has become a household name and earned thousands of global fans.
The investors have achieved this accomplishment due to their intense negotiation skills and understanding of businesses. Based on what they analyze in an entrepreneur’s pitch, they decide to invest in a particular business.
However, the Shark Barbara Corcoran has invested the least of all the panel members with 130 deals. Although the number may appear small, the businesses she has picked have evolved into huge successes. This reiterates her preference for quality over quantity.
Before getting into further details about her critical investments and failures, here’s a quick brief into her business expedition from being a real estate expert to a Shark Tank judge.
Barbara Corcoran’s Shark Tank Journey
Barbara Corcoran’s tumultuous beginnings have solidified her role as an expert investor. During her early days, she worked 20 different jobs, which was her hustle towards her goals. Soon, with some help from her ex-friend, she opened her real estate company, The Corcoran Group.
Setting new benchmarks in the arena, she rose to become a well-known business personality. This is what pushed Mark Burnett, the show’s producer, to think of making her one of the Sharks.
However, in a dramatic turn of events, she was soon rejected, and the makers decided to pick someone else. This didn’t break Barbara’s spirit. Showing her resilient side, she wrote an email to Mark thanking him for the rejection.
She further stated that her career had always flourished after every rejection; maybe this was another blessing in disguise. This attitude impressed the show’s makers, and they hired her back for the role, saying she was ‘a real Shark.’
Barbara’s Best Shark Tank Deals
Most of the successful deals made by Barbara have been in small-scale businesses or the pre-sales stage. This demonstrates her ability to take risks and go ahead with her self-belief. From Daisy Cakes to The Comfy, here are some of her best deals:
1. Daisy Cakes
Kim Nelson came seeking an investment of $50K in exchange for 25% equity in her company. She described Daisy Cakes as her family recipe made from scratch, free from harmful preservatives, and delivered to consumers’ doorsteps.
All the Sharks except Barbara Corcoran stepped out of the deal, citing the small nature of the business. Barbara agreed that the company was indeed small; however, she asserted that all the sharks ate more than 50% of Kim’s cake, which showed the top-notch quality of the cakes.
Barbara finalized the deal for $50K at 25% equity alongside a royalty of $1 per cake till she recouped her invested amount.
As of 2024, the company’s annual revenue was $4 million, which has allowed Corcoran to earn a huge profit.
2. The Comfy
Brian and Michael Speciale brought The Comfy to the investors. They sought $50K for 20% equity in their company that made innovative oversized winter clothing. The products could be worn both as a sweater and a blanket.
The Sharks chose to refrain from proposing an offer because The Comfy was in its pre-sales phase. No one except Barbara and Robert Herjavec showed interest. Robert offered $50K for 50% equity, whereas Barbara proposed $50K for 30% equity.
After some failed attempts at negotiations, the entrepreneurs locked the deal with Barbara for $50K at 30% equity.
As of October 2023, the company had earned $550 million in lifetime sales, which made it Barbara’s best Shark Tank investment.
Barbara’s Worst Shark Tank Deal
When asked about her worst deal on the show, Barbara publicly revealed it to be Body Jac, which appeared in the debut season. The business idea was based upon the concept of losing weight through an innovative machine that helped to do push-ups.
Jack Barringer asked for $180K for 20% equity in the company. He received a joint deal from Kevin Harrington and Barbara Corcoran for $180K for 50% equity.
But a few years later, Barbara claimed that Jack had taken away all her money. Additionally, the company was closed in 2021.
Bottomline
Barbara Corcoran has made the least number of deals on Shark Tank. However, this does not define her overall journey, which goes way beyond these number-based facts. Over the years, she preferred quality over quantity to obtain millions from her critical investments in small businesses.
Daisy Cakes and The Comfy signify her nose for potential businesses. There’s no denying that she has had her fair share of downs in the show as well. But overall, her Shark Tank journey is an exemplification of ‘less is more.’
References
1. How Barbara Corcoran landed her spot on ‘Shark Tank’ with ‘the best email’ of her life, CNBC, Sarah Berger
2. Barbara Corcoran, Wikipedia
Entrepreneur, auteur, raconteur. Rob Merlino is a blogger and writer who enjoys the Shark Tank TV show and Hot Dogs. A father of five who freelances in a variety of publications, Rob has a stable of websites including Shark Tank Blog, Hot Dog Stories, Rob Merlino.com and more.
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