Lynnae’s Gourmet Pickles
NO DEAL
EPISODE SUMMARY
🕓 Air Date: September 20, 2013
Asking For:
$125,000 for 20%
Investor:
No Deal
Deal:
No Deal
PRODUCT SUMMARY
Lynnae's Gourmet Pickles offers high-end, gourmet pickles based on a secret family recipe dating back 100 years.
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Background Story
Lynnae’s Gourmet Pickles is the brainchild of Lynnae Schneller and Aly Cullinane, based in Tacoma, Washington. Their journey began with a deeply-rooted family tradition encapsulated within a century-old secret pickle recipe passed down through generations. Lynnae, having married into the family, eagerly awaited seven years before being entrusted with the treasured recipe, highlighting the reverence and significance attached to this culinary heritage.
Driven by a shared passion for preserving and sharing their great-grandma Toots’ culinary legacy, Lynnae and Aly embarked on a bold entrepreneurial venture. Despite lacking prior experience in the food industry, their commitment was unwavering, leading them to quit their conventional jobs and invest their careers into the pursuit of pickle perfection. Inspired by the belief that their pickles were unlike any other, Lynnae and Aly set out to introduce their gourmet creations to the world. Their dedication to quality and authenticity propelled them to establish Lynnae’s Gourmet Pickles, a business venture that not only honored their family heritage but also aimed to delight taste buds far and wide.
Located amidst the picturesque landscapes of Tacoma, Washington, Lynnae and Aly combined their entrepreneurial spirit with their love for family traditions to create a business that not only offered delectable pickles but also served as a testament to the power of preserving culinary legacies. The journey of Lynnae’s Gourmet Pickles is a testament to the transformative potential of passion, perseverance, and a pinch of family secrets.
The Product
Lynnae’s Gourmet Pickles offers a unique and delectable range of high-end pickles, crafted from a secret family recipe passed down through generations. Available in two signature flavors, Mrs. Pickles and Hot Mama, these pickles are renowned for their exceptional taste, quality, and crunchiness. Mrs. Pickles tantalizes the taste buds with its original sweet and sour dill flavor, while Hot Mama adds a delightful kick of jalapeño to the classic recipe.
These gourmet pickles are versatile and can be enjoyed in various ways, from being paired with sandwiches and burgers to complementing cheese platters and charcuterie boards. They are a perfect addition to any meal, adding a burst of flavor and texture to every bite.
Customers can purchase Lynnae’s Gourmet Pickles online through the company’s website or in select retail stores across 26 states and approximately 200 locations nationwide. Priced at a suggested retail price of $6.99 per jar, these pickles offer exceptional value for discerning consumers seeking premium quality and unique flavor profiles.
How It Went
The company’s position before Shark Tank
Lynnae’s Gourmet Pickles has demonstrated robust growth and a strong market position since its inception. With sales reaching $144,000 in the past 12 months, equivalent to 36,000 jars sold, the company has proven its appeal to consumers seeking high-quality, gourmet products. Despite facing challenges in meeting increasing demand due to limited capital for inventory production, Lynnae’s Gourmet Pickles has secured distribution through the largest specialty food distributor in the U.S., expanding its reach to approximately 200 locations across 26 states.
The company’s success can be attributed in part to strategic partnerships with retailers and wholesalers who recognize the unique value proposition of Lynnae’s Gourmet Pickles. By aligning with key players in the food industry, the company has been able to leverage existing distribution channels to reach a broader customer base. Lynnae’s Gourmet Pickles caters to a diverse customer demographic, appealing to food enthusiasts, connoisseurs, and consumers seeking artisanal, high-end products. The company’s commitment to quality, authenticity, and innovation has earned it a loyal following and garnered attention from both local and national markets.
In terms of funding, Lynnae’s Gourmet Pickles relies on a combination of self-funding, sales revenue, and potential investment opportunities to support its operations and growth initiatives. While the company has demonstrated profitability, its current capital may be insufficient to fully capitalize on market opportunities and meet growing demand. Structurally, Lynnae’s Gourmet Pickles operates as a privately held company, with Lynnae Schneller and Aly Cullinane serving as co-founders and key decision-makers.
The Negotiations:
During the negotiations on Shark Tank, Lynnae’s Gourmet Pickles sought a $125,000 investment in exchange for a 20% equity stake in their company. Despite demonstrating impressive sales figures and a unique product offering, the Sharks expressed concerns about the high retail price point and market competition. Ultimately, none of the Sharks were willing to make an offer, citing various reasons for their decisions. Barbara Corcoran acknowledged the founders’ hustle and creativity but felt that the product’s high price and sweet flavor profile did not align with her personal preferences, leading her to opt out of the deal.
Similarly, Mark Cuban expressed doubts about the scalability of the business and the viability of selling pickles at a premium price point, ultimately deciding to pass on the opportunity. Kevin O’Leary questioned the value of investing in a product category outside his usual portfolio and expressed skepticism about Lynnae’s Gourmet Pickles’ ability to command a premium price in the market. He also highlighted concerns about the company’s valuation, ultimately choosing not to invest.
Despite the Sharks’ reluctance to strike a deal, Lynnae and Aly remained optimistic and appreciated the constructive feedback provided. They reiterated their commitment to their family tradition and expressed gratitude for the opportunity to showcase their passion on the show. While they left the Tank without an investment, Lynnae’s Gourmet Pickles remained determined to pursue growth opportunities and refine their business strategy moving forward.
