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The Entrepreneur Factor

Tag Archives: CBS Foods

That’s what Nashville entrepreneur and chef Shawn Davis had in mind when he appeared on the ABC reality show Shark Tank in May 2010. He asked the show’s sharks for an investment of $200,000 and in exchange offered a 40 percent stake in his company. The money was to be used to market a shrimp burger Davis created. It was already popular at a local level, but Davis wanted to take it to the next level. He stated his sales to date were $30,000, but was seeking more money to market his burger nationally.

Unfortunately, none of the sharks offered Davis the funding he needed. Rather than being disappointed that he didn’t get the money, Davis viewed the experience as a three-minute commercial for his product and the advertising paid off. More than a dozen investors contacted Davis after the appearance. The deal he finally decided on got him more money for less company equity than the deal he was seeking on Shark Tank. His shrimp burger is now in the frozen food section of major grocery stores all along the East Coast.

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