"I'm capable of helping you" — When Shark Tank investor Barbara Corcoran negotiated a deal with Nowhere Bakery

Entrepreneurs Maurizio and Saphira Rasti appeared on Shark Tank season 15, episode 18, which aired on March 16, 2024. The couple sought $200,000 in exchange for 5% of their company, Nowhere Bakery, an allergen and paleo-friendly dessert brand. Barbara Corcoran, familiar with the baking industry, attempted to offer her expertise to the Rastis by making them an offer.

"I feel like I know everything about this space through Daisy, through Pipcorn. I have a few failures. You learn more from failing, honestly. So, I feel like I'm capable of helping you," she said.

The Shark Tank alum offered to invest $100,000 with an additional $100,000 as a line of credit for a 15% stake in Nowhere Bakery. She faced tough competition from Kevin O'Leary and guest panelist, Jason Blum, who presented the Rastis with a joint offer.

Barbara ultimately finalized the deal with the entrepreneurs after accepting their counteroffer, which was nearly identical to the original one but included a revised equity of 12.5%.

Nowhere Bakery is still in business and received a boost in sales after its stint on the show. They have a significant social media presence with over 54.9K followers on Instagram while their products are available on Amazon and their official website.

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"Gonna be in the gym for 17 hours tonight" — Shark Tank panelist Mark Cuban refuses to invest in Nowhere Bakery due to their calorie count

While demonstrating their products, the entrepreneurs stated that Nowhere Bakery specializes in cookies and brownies made with "better few ingredients" without the addition of any dairy, eggs, gluten, soy, refined sugar, or sugar alcohols. The Sharks tasted their "award-winning" chocolate chip cookie, candy-bar cookie, almond-butter brownie, and blondie, tag, and ABC sandwich cookie.

The desserts received appreciation from all the panelists, interesting them to know more about the business. Maurizio said they launched their company in March 2020, two weeks prior to the COVID-19 pandemic. Saphira, a food blogger and recipe developer, added that she utilized her network of food bloggers to advertise the products.

Maurizio detailed how Saphira used a small corner of a friend's kitchen to bake the desserts and deliver them to her acquaintances herself. When Kevin asked the entrepreneurs if they had any sales, Saphira said they ended 2020 with $92,000, 2021 with $524,000, and 2022 with $770,000. She looked forward to ending 2023 with $1 million in sales.

While the initial numbers impressed the Shark Tank panelists, their overall profit did not. When Saphira mentioned the company made $32,000 last year, Kevin said:

"That's not huge dollars."

The desserts cost $1.92 to make and were sold directly to customers for $5 to $6 per unit. When Kevin asked the entrepreneurs if they had thought about a co-packer to reduce the costs, Maurizio confessed they had but preferred having control over the quality.

He urged the business owners to consider that but Barbara disagreed, saying every baker that used a co-kitchen, "did it themselves again." Kevin offered $200,000 for 20% equity and explained he would give half of his equity to the co-packer he would bring in.

In the meantime, Shark Tank investor Mark Cuban backed out of consideration, citing the high-calorie content as one of his major reasons.

"Tastes amazing until I looked at the back. Now I'm gonna be in the gym for 17 hours tonight," he said.

He pointed out that each cookie had 300 calories which for someone who tried to "count calories every day" was a significant number. After Mark backed out, Barbara presented them with her offer. Soon after, Shark Tank panelist, Lori Greiner refused to invest expressing a reason similar to Mark's.

With two Sharks already out, Jason proposed a collaboration with Kevin, keeping his original offer as it was. With two offers on the table, Barbara tried to sway the entrepreneurs' decision by retelling them the story of Kates Kookies, a company she had invested in, that went out of business by partnering with co-packers.

Although Kevin argued otherwise, the Rastis leaned toward Barbara. They first countered, seeking $400,000 for 15% equity. When Barbara rejected that, they agreed to accept her original deal but at a 12.5% equity. She accepted their revised equity and shook hands with them.

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Shark Tank season 16 airs every Friday at 8 pm ET exclusively on ABC.