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Oatmeal brand founder’s low salary leaves ‘Shark Tank’ judges wondering if she can afford her own products

The judges were baffled when the entrepreneur revealed how little she makes — and still manages to live in New York City

‘Shark Tank’ contestants pitch a lot of things on the show—from everyday utility items to premium luxury brands. When Samantha "Sam" Stephens appeared on the tank seeking investment for her company, OatMeals, nobody guessed that she would land a crazy deal. She came asking for $500,000 in exchange for 20% equity in her company. “All of us have some sort of connection to oatmeal. We were fed it growing up, and it can remind us of the comforts of being a child, of being at home,” Stephens said. She pointed out that it’s one of the healthiest foods on the planet. Her company offered a “build your own oatmeal” option, putting a modern twist on an old-fashioned staple. 

They offered 80 toppings and 30 signature bowls, ranging from healthy to sweet, and even savory oatmeal with non-traditional toppings. The judges went straight for the food before discussing numbers and became instant fans. Investor Lori Greiner was especially “in love” with the flavor-packed oatmeals. “We get a lot of different things that come into the 'Shark Tank,' a lot of different foods. These are some of the most delicious things ever brought in here,” Greiner told the entrepreneur. “And the interesting thing is that they are all very different,” she added.

The investors were impressed by the pitch and Stephens’ educational background, which ranged from working as an executive assistant to studying culinary arts. However, they were shocked once she revealed the monthly income she draws from her business. Stephens shared that the business made $470,000 in sales last year, with a profit of $45,000. When asked how much she kept for herself, she said it was $40000. “How do you support yourself if you're only taking out $40,000?” Barbara Corcoran asked. “I know New York is so expensive. Do you even have the money to eat your own oatmeal?” she added.

“That's basically all I can really afford to eat,” the contestant laughed. After Stephens sportingly took the questions on her income and even made light of the situation, the judges laughed and moved on. She further impressed the panelists by revealing that she’s the spokesperson for Quaker Oats, one of the most renowned oat brands. However, many aspects of the business held back Kevin O’Leary from making a deal. He pointed out that the product will only be sold as a breakfast meal, which limits its market potential.

Since the company operated as an offline store, O’Leary was concerned about its expansion. “You need doing about a million to a million two a year to make this an interesting opportunity to expand to more locations or to franchise, because you're basically making no money,” he added. Daymond John also opted out of the deal for similar reasons. Greiner extended an offer, but only on the condition that the entrepreneur would be open to packaging the food for retail instead of a store outlet. Corcoran also made an offer, but on a completely different condition: instead of focusing on retail, she wanted to open oatmeal carts and high-traffic locations. Following a classic ‘shark fight,' Stephens sealed the deal with Greiner for $500,000 in exchange for a 33.3% stake in the company.