It all started with Kim “Daisy” Nelson and her family’s legacy cake recipe. This South Carolina baker’s hand-sifted and scratch-made cakes are now being transported across the country from Daisy Cakes in Pauline. Nelson and her mother launched the business in 2009, preparing all of the cakes themselves. Read below all details about Daisy Cakes Net Worth.
When Nelson appeared on “Shark Tank,” his cake sales increased from 2,000 per year to 2,000 per day. Find out how this baker-turned-entrepreneur-turned-mother-of-three grew her company to become a significant source of revenue for yourself. You can check all about Daisy Cakes Net Worth below:
It All Began With a Family Recipe and a Passion for Baking
Her grandma and great aunts began teaching Nelson how to bake at a young age, and she hasn’t stopped since. A stool with a yellow seat was the only way Nelson could reach the counter at that age, he claimed.
Bit By the Entrepreneurial Bug
Entrepreneurship was in Nelson’s blood from a young age. She began selling her cakes almost as soon as she began baking them. At the age of 10, she sold her first cake. “It was a yellow cake covered with chocolate icing. I made $7 off of that! Since then, I’ve been baking and selling cakes.”
Striking Out on Her Own
Because of her passion for the kitchen and baking, Nelson has worked in the hospitality industry. However, she realized she was ready to establish her firm after working for others for more than two decades.
Her mother and she decided to “simplify things” and “go back to where it all began,” she explained. As of June 2009, “Daisy Cakes was born.”
Getting Her Business Off the Ground
Daisy Cakes was the brainchild of Nelson’s parents, who put up a total of $93,000 in the business. Even though she was risking thousands of dollars, she never doubted the viability of her business.
Starting Daisy Cakes, she says, “there was no fear” at all. “I was doing what I enjoy. “Ignorance is, and has always been, a wonderful thing!”
Spreading the Word
Running a successful bakery requires more than making cakes, Nelson rapidly found. For the sake of expanding their business, she and her mother decided to take their cakes on the road.
- Shakira Net Worth: Early life, Career, Personal Life & Net Worth
- Martin Lawrence Net Worth: Early Life, Relationship Status & Story Of His Name
They exhibited at the Houston Nutcracker Market and attended Junior League Christmas exhibitions in Louisiana. There were a lot of miles driven and a lot of Daisy Cakes sold to get the party started, she added.
Swimming With Sharks
During an appearance on “Shark Tank” in April of 2011, Nelson got one of the sharks to strike. In exchange for a 25% share in Daisy Cakes, Barbara Corcoran will contribute $50,000. Nelson not only gained an important investor and mentor from the show, but his sales also went through the roof as a result of the publicity.
About 2,000 cakes were made in our first year.” We cooked and packaged them all ourselves, with the help of my mum. We had almost 2,000 orders in 24 hours after the episode of ‘Shark Tank’ aired,” Nelson added.
“The internet went down, then the phone lines went down. On a grand scale, it was anarchy and disorder! Thank goodness for chaos, for I thrive in it.”
An Unreasonably High Demand
The show was successful commercially, but Nelson and her mother were unprepared for the increased demands it brought. According to Nelson, “the massive surge in sales came at us so rapidly we didn’t have a plan”.
It was a surprise to everyone that sales had risen so dramatically so rapidly. They didn’t know, either, even the ‘Shark Tank’ producers and my new business partner, Barbara Corcoran. For Daisy Cakes Net Worth continues reading.
A Six-Figure Loss
Daisy Cakes relocated some of its production to three large-production bakeries to try to keep up with the high volume of orders. It was unfortunate that several of the cakes were not up to the standard of the brand.
According to Nelson, the company lost out on $300,000 in sales because of the poor quality of 6,500 cakes. “It was a disastrous setback. Our continued existence is nothing short of a miracle.
Return to Her Origins
It became clear to Nelson that she had to find a better way to grow her business that would preserve the integrity of her family’s original recipe.
It was only left to relocate all baking and shipping operations back to South Carolina, bake as many cakes as possible, and notify customers to kindly place their orders as early as possible, as Nelson explained.
“We bake once a week for the shipments that go out the following week. This is the most effective means of ensuring high standards. None of my cakes will be made the way I make them. It was obvious that these other bakeries had no stake in the outcome of the competition.”
Daisy Cakes’ high delivery expenses were one of the main reasons for the company’s financial struggles. After the “Shark Tank” appearance sparked an increase in demand for cakes from the West Coast, this became an even bigger problem for Nelson.
To ship a cake that needs to be refrigerated has always been difficult because of the weight and size of the shipping container. Nelson decided to open a second bakery in Las Vegas in 2019.
“I opted to take the chance rather than live with regret after months of contemplation,” she added. To celebrate my grandmother Nervielee’s birthday, Sam and I flew to Las Vegas on March 31, 2019. On April 2nd, we moved into our new house and got Daisy Cakes West up and running.
Setting New Goals
In the current year, Daisy Cakes sells roughly 18,000 cakes, bringing in about $1.2 million in revenue, and Nelson expects that number to rise even more in 2020 as they open a location on the West Coast. They’re also going to broaden their product line, which is something she’s excited about.
Adding vegan Minikins to Daisy Cakes’ line-up is one of Nelson’s long-term aims for the company. It’s essential to have plant-based solutions available. “I can’t wait to get going.”
The Sweet Taste of Success
Nelson, despite the difficulties of running her own business, is pleased with the current state of Daisy Cakes.
— Daisy Cake Company (@DaisyCakeCo) January 31, 2020
As much as I want my company Daisy Cakes to be a success, I also believe that you can never rest on your laurels. As my grandmothers and great-aunt Daisy taught me, “I work hard every day to make sure my cakes are as delicious as theirs were.”
“Success for me is waking up every day knowing I’m doing what I love,” she said. “I bring joy to others by providing a tasty and cheerful product. As a result, I’m even more delighted.”
Nelson’s Best Advice for Other Aspiring Entrepreneurs
“Anyone establishing a business needs to recognize that it takes effort and sacrifice,” Nelson advised to those aspiring to transform their passion into a business. “It’s not at all simple,” he said. You must be willing to put in 110 percent of your effort and be prepared to shed a lot of tears.
“You might also need a separate bank account for legal expenses because chances are you will (need) one along the route,” she said, adding a practical note.
Daisy Cakes Net Worth
Daisy Cakes is one of Hollywood’s wealthiest actors, and her name appears among the list of the most widely known. Daisy Cakes Net Worth is estimated at $1.5 million.
We hope you found all details about Daisy Cakes Net Worth. For more exciting content and updates regarding your favorite celebrities, please stay connected with us at Newsconduct.com