Entrepreneur Danielle Mahon pitched her family-owned company, Topsail Steamer, on Shark Tank Season 16. This idea was born when she noticed a restaurant preparing Lowcountry boils and customers buying the seafood pots and then returning them. She thought this could be turned into a business.
The company offers a steam pot bucket that includes all the necessary seafood ingredients and seasonings, based on the chosen variant, allowing people to enjoy a delicious seafood feast that is ready to eat in just 40 minutes.
She needs the Sharks’ expertise and investment to scale her franchise model and successfully expand Topsail Steamer nationwide. Let’s find out if any Sharks showed interest in investing in this seafood business.
| Company Name | Topsail Steamer | |
| Founder/Co-Founder | Danielle Mahon | |
| Founded | 2017 | |
| Product | Home seafood steam pots | |
| Asked For | $350k for 8% equity | |
| Final Deal | $350k for 18% equity | |
| Shark | Todd Graves and Lori Greiner | |
| Episode | S16 E2 | |
| Air Date | Oct 25th, 2024 | |
| Business Status | In Business | |
| Website | Visit Website | |
| Headquarters | Surf City, North Carolina, United States | |
| Annual (Revenue) | $5 Million *estimated | |
| Worth / Valuation | $4,375,000 | |
| Buy and Watch | Buy Now | Amazon Prime |
What Is the Background of The Founder?
Danielle Mahon is a professional salesperson who has worked at several companies, including Thermo Fisher Scientific, Eppendorf AG, EpiCypher, and many others. In 2017, she left her corporate job to found her family-owned business, Topsail Steamer, named after North Carolina’s Topsail Island.
The company provides seafood steam pots, allowing customers to enjoy fresh, easy-to-prepare seafood meals.
To learn how these steam pots work, watch this video.
Business Pitch Episode Recap
Danielle came onto Shark Tank and asked the Sharks for $350,000 in exchange for 8% equity in her seafood low country boils company, valuing it at $4,375,000. While explaining her product to the Sharks, she shared that she loves going to restaurants to enjoy steamed seafood with family and friends and sees herself as someone with a strong entrepreneurial spirit.
The company offers seven signature pots in two sizes, allowing customers to choose their preferred seafood combinations. The average order price is $177, with production costs accounting for about 40% of each order.
In 2023, the company’s sales reached $4.5 million, and Danielle is projecting $5.7 million in sales for 2024. Currently, the business has a total of 10 franchises and seasonal locations across North Carolina, New Jersey, Alabama, Delaware, and Florida.
The seasonal restaurants operate for only 4 months each year and typically measure between 700 and 800 square feet.
Guest Shark Todd Graves, CEO of Raising Cane’s Chicken Fingers, believes that operating a franchise model in the restaurant business can be challenging. To run a successful restaurant business, he says there needs to be a strong product, impressive sales numbers, and passionate founders. He offered Danielle $350,000 but requested 20% equity in the company in return.
Lori Greiner teamed up with Todd Graves to offer $350,000 for 20% equity. Danielle countered with $350,000 for 16% equity. Todd and Lori then proposed a final offer of 18% equity, which Danielle happily accepted.
Sharks Offers list!
| Sharks | Offers |
|---|---|
| Todd Graves | $175k for 9% equity (Lori) |
| Kevin O’Leary | No Offer |
| Mark Cuban | No Offer |
| Daymond John | No Offer |
| Lori Greiner | $175k for 9% equity (Todd) |
| Founder’s (Countered) | $350k for 16% equity |
| Final Deals | $350k for 18% equity |
Topsail Steamer Shark Tank Update
After this episode aired, we researched the company on October 26th, 2024, and found that website traffic had increased by up to 500% due to the Shark Tank appearance.
Positive reviews on platforms like TripAdvisor have also boosted customer trust in Lowcountry boils seafood offerings. Currently, all 12 varieties of products are available for sale on the Goldbelly online food store.
Currently, Danielle is receiving thousands of inquiries from people interested in franchising her seafood business.
Right after the episode aired, the company’s website saw 50,000 visits. She plans to expand the franchise into various cities across different states by 2025.
As of November 2024, the company operates in 10 locations across various states in the United States, including North Carolina, New Jersey, Alabama, Delaware, and Florida. Additionally, it ships to all 50 states nationwide.
Danielle plans to open four new franchised stores each year to gradually grow the business. Eventually, she aims to expand the company to 400 brick-and-mortar locations.
It will be interesting to see how the company’s sales fluctuate over time.
We have covered more businesses from Season 16, and you can also check them out!
