While many companies are swimming with sharks and looking to leave the ‘shark tank’ and grab a deal, a company’s solo appearance on the ABC show could have a positive impact. . As Market Realist discussed, as of 2019, more than half of the companies participating in the show have won deals. But successes and failures are not limited to that high-profile investment.
When Custard Stand Food Products appeared on “Shark Tank,” the shark had both positive and negative reactions to the West Virginia food company. Owners Dee and her Angie Cowger have demonstrated a drive to make their business successful, but passion cannot be measured in the end result. As shared by GazetteReview.com, the general consensus was that the region’s sweet his chili could be an acquired flavor. Sales for the brand were passable, but the sharks were concerned about the large amount of debt on the books and potential additional capital needed to fund the business (via the Shark Tank blog). Shark’s Mark Cuban praised Cowger’s entrepreneurial spirit, but the numbers didn’t match. He and the other sharks took over the business. Cowger’s disappointment was clear, but Custard Stand Food Products was unbridled and ready to move forward.