Highland Park woman was tired of messy candles, so she made edible ones — and walked into ‘Shark Tank’
Setting the candles on the cake and then removing them can be troublesome; these types of problems need unique solutions. During an episode of 'Shark Tank' Season 15, which was released in March 2024, entrepreneur Loree Sandler and her husband Bob Michelson pitched their candle company 'Let Them Eat Candles' in front of the esteemed Sharks Mark Cuban, Kevin O'Leary, Lori Greiner, Barbara Corcoran, and Robert Herjavec. Sandler and Michelson's company creates edible birthday candles, allowing people to enjoy their special day to the fullest, without worrying about placing the candles on the cake and then removing them.
The Sharks were taken aback by the chocolate treats created by Sandler and her partner, Michelson. Eventually, Greiner and Corcoran battled it out to seal the deal with the 'Let Them Eat Candles' founders. Ultimately, Sandler and Michelson bagged a $250,000 deal on the ABC business program. In the episode, Sandler and Michelson, who were seeking $250k for a 10% equity in their company, revealed that their premium chocolate birthday candles can be lit and then eaten.
The pair explained to the Sharks that the wick lights up for a minute, which is more than enough to sing 'Happy Birthday' and strike a few poses with the cake. Following that, the kids can enjoy the birthday candles as a delicious chocolate snack. Shortly afterward, Sandler and Michelson asked the Sharks to blow out the candles placed in front of them and try it. Then, Herjavec, who was captivated by the product, asked Sandler how she came up with the idea of these edible candles. Sandler shared that the idea of Let Them Eat Candles was born when she found the normal birthday candles a mess while baking a cake for her youngest son.
To create a perfect edible candle, Sandler even took pastry and chocolatier classes. In addition to this, Sandler also did her research about how to get the molds made. Later on, Sandler and her husband, Michelson, invented Let Them Eat Candles, and they launched their edible birthday candles into the market. While sharing the financial statistics of their edible candles, Sandler disclosed that the candles cost around $0.85 to make, and they are sold for $2.99 to $3.99 a unit. The Sharks were blown away when Sandler mentioned that their company had done a whopping $2.3 million in sales, and the previous year, they recorded sales of $675,000.
At first, O'Leary backed out as he felt that the company needed a lot more work. Right after, Herjavec dropped out as he was facing a conflict of interest. Then, Cuban, who wasn't impressed by the company's sales and margins, also went out. As per Market Realist, Corcoran showed interest in the candles and quipped, "I don't think you're crazy at all. I don't think it's a problem shipping 12 months a year. I ship Daisy Cakes all year round, and they come out fine." Then, Corcoran offered the pair $250,000 for 25% equity. Soon after, Greiner entered the chat and made an offer to the duo. Greiner stated that she was ready to give $125,000 as a loan and the remaining $125,000 as cash for 20% equity. Sandler and Michelson tried to negotiate with Greiner as they didn't want to give up so much equity. When Greiner reduced the equity to 18%, the couple accepted the deal.
