Long Table Pancakes
NO DEAL
EPISODE SUMMARY
🕓 Air Date: January 6, 2023
Asking For:
$140,000 for 15%
Investor:
No Deal
Deal:
No Deal
PRODUCT SUMMARY
Long Table offers pancake and waffle mixes made with popcorn flour, creating light and nutritious breakfast options.
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Background Story
Samuel Taylor, the founder of Long Table, fell in love with an acrobat and sought to create nutrition-dense pancakes that could fuel her performances. He discovered that traditional whole-grain flour was not fluffy enough, so he invented popcorn flour, a new twist on heirloom whole grains. This idea led to the creation of Long Table, and Samuel’s mission to promote regenerative agriculture and build a supply chain connecting farms to consumers.
The Product
Long Table’s pancake mixes are crafted using popcorn flour, a unique ingredient that makes the pancakes exceptionally light and nutritious. The product line includes various flavors, with the popcorn-flour pancakes being a standout favorite.
The pancake mixes are made from 100% stone-ground, whole-grain ingredients sourced directly from organic and regenerative farmers. The company also produces waffles with the same pancake mixes.
Customers can purchase the mixes directly from the company’s website, with the popcorn-flour pancake mix priced at $11.25 per bag. Popcorn flour provides a distinctive and slightly popcorn-like taste, setting it apart from traditional pancake mixes.
These mixes are ideal for anyone looking for a nutritious breakfast option that supports regenerative agriculture and a direct farm-to-consumer supply chain.
How It Went
The company’s position before Shark Tank
Long Table had achieved total sales of a quarter-million dollars over the years, with annual sales hovering around $20,000 from 2015 to 2019. The company mainly distributes its products through about 20 independent grocers, primarily in the Chicago area, where it is based. Moreover, 70% of the business relies on direct-to-consumer sales through the company’s website.
Long Table has yet to expand to larger platforms like Amazon. As for funding, the company’s founder, Samuel Taylor, appeared on “Shark Tank” seeking an investment of $140,000 in exchange for 15% equity in the company, but no deal was secured. The company’s financials indicate slow growth, and there is a significant need to establish a stronger online and social media presence to expand the business.
The Negotiations:
Samuel Taylor entered the “Shark Tank” seeking a $140,000 investment in exchange for 15% equity in Long Table. However, none of the sharks made an offer. The sharks were impressed by the quality and taste of the pancake and waffle mixes, with David Schwimmer even making a guest appearance to endorse the products.
While the product received positive feedback, the sharks were concerned about the company’s slow sales growth and the lack of a strong online and social media presence, which they viewed as a critical component for the success of a consumer-facing product. The sharks acknowledged the mission of promoting regenerative agriculture but felt that the product was secondary to the mission and that Long Table needed to focus on marketing and building a strong brand.
Ultimately, all the sharks chose to pass on the opportunity to invest, but they offered valuable advice to Samuel Taylor about the importance of telling the company’s story and utilizing social media to drive sales. Taylor left the “Shark Tank” without a deal but with a better understanding of the importance of marketing and brand-building for his business.
