Chef in Black
DEAL
EPISODE SUMMARY
🕓 Air Date: January 8, 2010
Asking For:
$50,000 for 10%
Investor:
Barbara Corcoran
Deal:
$50,000 for 35%
PRODUCT SUMMARY
The Chef in Black offers Jaden Chinese Salad Dressing and Seasoning Mix, a blend of all-natural spices and seasonings allowing home cooks to create fresh Chinese salad dressing and dips.
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Background Story
Based in Folsom, California, The Chef in Black Incorporated was founded by Dorene Humason, a seasoned veteran in the food industry. With over 25 years of experience as a buyer and food sales representative, Dorene developed a keen understanding of consumer preferences and market trends. The inspiration for her product, Jaden Chinese Salad Dressing and Seasoning Mix, stemmed from a personal experience. Faced with the challenge of not finding the perfect Chinese salad dressing at her local store while preparing a meal for her family, Dorene recognized a gap in the market.
This realization fueled her entrepreneurial spirit, prompting her to embark on a journey to create her own solution. Drawing from her extensive knowledge of spices, seasonings, and culinary techniques, Dorene meticulously crafted the recipe for Jaden Chinese Salad Dressing and Seasoning Mix. Collaborating with her daughter Brooke, who plays a pivotal role in product demonstrations and presentations, Dorene brought her vision to life.
Their shared passion for delivering high-quality, natural ingredients to consumers motivated them to establish The Chef in Black as a reputable brand in the food industry. With a focus on innovation and consumer satisfaction, Dorene and Brooke are dedicated to expanding their product line and reaching a wider audience. Their commitment to excellence and entrepreneurial drive underscore their mission to bring authentic flavors and culinary experiences to homes across the nation.
The Product
The Chef in Black’s flagship product, Jaden Chinese Salad Dressing and Seasoning Mix, offers a convenient and flavorful solution for home cooks looking to elevate their dishes. This all-natural blend of spices and seasonings is carefully crafted to capture the authentic essence of Chinese cuisine. Versatile in its application, the mix can be used to prepare a variety of dishes, including salad dressings, marinades, and dips.
Users simply need to combine the Jaden mix with basic ingredients like oil, vinegar, or soy sauce to create delicious dressings or marinades with a unique Chinese flair. The mix’s balanced combination of flavors ensures consistent results and enhances the taste of salads, meats, and vegetables.
Packaged for retail sale, Jaden Chinese Salad Dressing and Seasoning Mix is readily available for purchase in approximately 1,300 grocery stores nationwide. Consumers can find it conveniently positioned alongside dry salad dressing packets, making it easily accessible during their shopping trips. Priced competitively, the product offers excellent value for its quality and versatility, appealing to cooking enthusiasts and everyday consumers alike.
How It Went
The company’s position before Shark Tank
The Chef in Black Incorporated has demonstrated promising growth and resilience in the competitive food industry. With a strong presence in approximately 1,300 grocery stores nationwide, the company has established itself as a reputable brand offering high-quality culinary products. Despite facing challenges such as packaging issues, The Chef in Black remains committed to delivering excellence to its customers.
Partnerships play a crucial role in the company’s success, with strategic alliances formed with various wholesalers and distributors to expand its retail reach. These partnerships ensure that Jaden Chinese Salad Dressing and Seasoning Mix is readily available to consumers across different regions. The company’s customer base consists of cooking enthusiasts, health-conscious individuals, and everyday consumers seeking authentic flavors and natural ingredients. By catering to diverse tastes and preferences, The Chef in Black has cultivated a loyal following and continues to attract new customers.
In terms of funding, The Chef in Black is currently self-funded, with Dorene Humason investing her own capital to fuel the company’s growth. With available capital and a clear business strategy, The Chef in Black is well-positioned to capitalize on market opportunities and expand its product line in the future. The company’s structure revolves around a lean and efficient team led by Dorene Humason, who oversees operations, product development, and strategic decision-making. With a focus on innovation and customer satisfaction, The Chef in Black is poised for continued success and growth in the dynamic food industry landscape.
The Negotiations:
During the negotiations on Shark Tank, Dorene Humason, the founder of The Chef in Black, presented her product, Jaden Chinese Salad Dressing and Seasoning Mix, seeking a $50,000 investment for a 10% equity stake in her company. While expressing interest in the product’s potential, the Sharks raised concerns about branding clarity and market competition.
Despite receiving offers from multiple Sharks, including Barbara, Kevin, and Daymond, Dorene ultimately struck a deal with Barbara for $50,000 in exchange for 35% equity. Barbara’s offer came with the condition that Dorene streamline her branding efforts and focus on building a single product line before expanding into other offerings. Although this meant relinquishing a larger equity stake, Dorene recognized the value of Barbara’s expertise and commitment to helping her navigate the complexities of the food industry.
With Barbara’s investment and guidance, Dorene is poised to scale her business and solidify The Chef in Black’s position as a leading provider of premium culinary products. The negotiations showcased the importance of strategic partnerships and a clear business strategy in securing investment and driving long-term success in the competitive marketplace.
