Susan Snapp is the creator of A Perfect Pear Company and its signature product, Cinnamon Pear Jelly. She appeared on Shark Tank in Season 1, Episode 2, seeking $500k for 15% equity to fund production.
Susan is quite excited! Do you think the Sharks will invest in her business, or will she have to come back without funding? I’ve shared a full recap and update reports of this business pitch. Keep reading to find out.
| Company Name | A Perfect Pear | |
| Founder/Co-Founder | Susan Snapp | |
| Founded | 2009 | |
| Product | Gourmet Food Products | |
| Asked For | $500K for 15% equity | |
| Final Deal | $500K for 50% equity | |
| Shark | Robert Herjavec & Kevin Harrington | |
| Episode | S1 E2 | |
| Air Date | Aug 16th, 2009 | |
| Business Status | Out of Business | |
| Website | Visit Website | |
| Headquarters | Napa, California, United States | |
| Lifetime Sales | $0.7M *estimated | |
| Buy and Watch | Buy Now | Amazon Prime |
A Perfect Pear Shark Tank Recap
Susan had successfully sold her gourmet food products, particularly the Cinnamon Pear Jelly, in 650 stores, generating over $700,000 in sales by 2009. She expecting that by the end of the year, her net profit would reach approximately 2.43%, amounting to roughly $15,000.
She also mentioned that in 2010, the net profit is expected to increase to approximately 10.5%. Additionally, she has pending orders worth $100,000 awaiting shipment, but due to financial constraints, she is unable to fulfill them. This is why she requires investment.
Kevin Harrington expressed concern about the low profit margin in the business. Kevin O’Leary made an offer of $500k for 70% equity, but Susan immediately declined this offer.
Daymond John offered $500k for 51% equity, intending to take control of the company, valuing it at approximately $980,392. On the other hand, Kevin Harrington and Robert Herjavec teamed up and offered $500k for 50% equity.
Susan, not willing to lose ownership of her company, countered Robert and Kevin’s offer with $500k for 49% equity. Robert declined this offer. Susan turned down Daymond’s offer and accepted Robert and Kevin’s offer.
Sharks Offers list!
| Sharks | Offers |
|---|---|
| Kevin Harrington | $500k for 50% equity (Robert) |
| Kevin O’Leary | $500k for 70% equity |
| Robert Herjavec | $500k for 50% equity (Kevin) |
| Barbara Corcoran | No Offer |
| Daymond John | $500k for 51% equity |
| Founder’s (Countered) | $500k for 49% equity (Robert & Kevin) |
| Final Deals | $500k for 50% equity |
A Perfect Pear Shark Tank Update
After the episode aired, Susan made thousands of dollars in sales by selling her single product, Cinnamon Pear Jelly. However, after a few years, she realized that the business wasn’t generating more profits. Regrettably, she had to make the tough decision to shut it down.
During our research on A Perfect Pear, we found out that the company has now permanently closed its operations.
To find updates on other businesses from Shark Tank Season 1, Episode 2, click on the link below.
