Topsail Steamer offers easy-to-use seafood boil kits, bringing the joy of a beachside feast to your home. Enjoy fresh, delicious seafood in minutes!
In today’s fast-paced world, the idea of recreating a seafood feast at home can seem intimidating to many. Danielle Mahon understood this all too well, and from her childhood memories of beachside seafood boils, she envisioned a way to bring the deliciousness and warmth of those gatherings into everyone’s kitchen.
Her creation, Topsail Steamer, is a convenient seafood meal kit designed to make cooking seafood at home easy and enjoyable. With simple instructions and pre-prepped ingredients, anyone—a seasoned chef to a kitchen novice—can prepare a delicious seafood boil right at home.
But will the sharks be just as captivated by the idea? This Topsail Steamer update delves into how this business, which started with a passion for good food and memorable experiences, has evolved and what’s in store for the future.
Key Takeaways
- Topsail Steamer offers a convenient seafood boil kit designed to bring the fun of a beachside seafood feast to your home with minimal effort. The kit includes pre-prepped ingredients like shrimp, crab, clams, sausage, corn, and potatoes.
- Danielle Mahon pitched Topsail Steamer on Shark Tank Season 16, seeking $350,000 for 8% equity. She secured a deal with Lori Greiner and Todd Graves for $350,000 in exchange for 18% equity.
- Since appearing on Shark Tank, Topsail Steamer has expanded its reach, focusing on nationwide shipping through Goldbelly to make their seafood kits available across the U.S.
- The company offers a solid 60% profit margin and has grown from $4.5 million in revenue in 2023 to a projected $5.7 million in 2024.
- Topsail Steamer’s Business Model: By focusing on keeping food costs low (28% of sales) and efficiently managing labour costs (17%), the company has built a strong financial foundation and is on track for continued growth.
- Customer Experience: Topsail Steamer delivers delicious seafood and offers an enjoyable and stress-free cooking experience, perfect for seafood lovers and families looking to recreate the joy of a beachside boil at home.
What Happened After the Shark Tank Pitch?
For those who want a quick recap, here’s what happened with Topsail Steamer following its appearance on Shark Tank:
- Entrepreneur: Danielle Mahon
- Business: Seafood Meal Kit Kits
- Ask: $350,000 for 8% equity.
- Result: Danielle walked away with $350,000 for 18% equity, split between Lori Greiner and Todd Graves.
After Danielle’s appearance on Season 16 of Shark Tank, Topsail Steamer began receiving more attention. The business was positioned perfectly to meet the growing demand for home-cooked meals that are easy to prepare and offer a unique experience. Thanks to the partnership with Lori and Todd, Topsail Steamer has expanded its offerings, and customers now have the chance to enjoy high-quality, fresh seafood from the comfort of their homes, no matter where they live.
The Origin of Topsail Steamer: A Story Rooted in Family and Tradition
Before Topsail Steamer became the thriving business it is today, Danielle Mahon loved food, family, and the experiences of cooking together. Her idea originated from the seafood feasts she enjoyed growing up. Living near the coast, Danielle and her family often had seafood boils—an event that brought everyone together. It was a special moment, full of fresh, flavorful seafood, laughter, and the joy of sharing a meal with loved ones.
However, she soon realized that recreating those experiences at home could be difficult. People often found it daunting to source the right ingredients, prep them properly, and cook them right, especially when new to seafood. That’s when the idea for Topsail Steamer was born.
Danielle wanted to make preparing seafood stress-free and accessible for everyone. She envisioned a kit that included everything needed for a perfect seafood boil, from fresh shrimp and crab to seasonings and simple instructions. This would allow anyone to bring the experience of a beachside seafood feast into their own homes without the hassle.
What Is Topsail Steamer?
At its core, Topsail Steamer offers a seafood boil kit with pre-prepped ingredients for an easy, delicious meal. These kits contain a mix of shrimp, crab, clams, sausage, corn, potatoes, and a unique seasoning blend. The concept is simple: you add water or beer, follow a few easy steps, and within no time, you’ll have a fresh, steaming seafood feast.
The beauty of Topsail Steamer lies in its simplicity and commitment to quality. Each kit is designed to make the cooking process as easy and stress-free as possible, with clear instructions that anyone can follow. Whether you’re an experienced chef or have never cooked seafood, the kit removes all the guesswork.
What Makes Topsail Steamer Stand Out?
Topsail Steamer isn’t just about cooking seafood; it’s about the experience. Sitting around a table and sharing a seafood boil with friends and family brings a sense of nostalgia and togetherness. Danielle wanted to bring this experience into people’s homes, no matter where they lived. And that’s exactly what her business does.
Unlike traditional meal kits, which can feel overly complicated, Topsail Steamer relieves the pressure by providing everything needed for a successful seafood boil. The ingredients are carefully prepped, so there’s no need to spend hours chopping vegetables or cleaning seafood. This is perfect for busy families or anyone who wants to enjoy a seafood meal without the time-consuming prep work.
The Shark Tank Pitch
When Danielle pitched her business on Shark Tank during Season 16, she sought a $350,000 investment for 8% equity in her company. She walked into the tank with a clear vision for Topsail Steamer’s future, ready to expand her brand and make her kits accessible to more people.
Her pitch was compelling. She presented the opportunity to invest in a business that was growing, with strong profit margins and clear potential for expansion. Danielle’s knowledge of her business and passion for bringing seafood to families across the country shone through during her pitch.
The sharks were impressed by her ability to keep food costs low—28% of sales—and by the fact that Topsail Steamer maintained a solid 60% profit margin. Additionally, the company had already proven its success, bringing in $4.5 million in revenue in 2023. Danielle’s franchise model was also an appealing aspect of her business, with the goal of expanding the brand nationwide.
However, the negotiation in the tank wasn’t easy. Todd Graves initially offered $350,000 for 20% equity, but Danielle countered with 16%. Todd wasn’t willing to budge, and just as things seemed like they might fall apart, Lori Greiner stepped in with an offer to partner with Todd, suggesting they split the 20% equity. Eventually, Danielle negotiated the deal down to 18% equity—$350,000 for 18%, with each shark taking 9%.
This deal was a turning point for Danielle and Topsail Steamer. With the help of Lori and Todd, Danielle gained the support she needed to expand her business, broaden her reach, and fulfil her dream of bringing seafood boils to kitchens across the nation.
The Topsail Steamer Update: Growth and Expansion
Since its appearance on Shark Tank, Topsail Steamer has seen significant growth. The company has continued to expand, focusing on reaching customers all over the country. One key way Topsail Steamer has achieved this is through Goldbelly, a food delivery service that ships regional favorites nationwide. This allows Topsail Steamer’s seafood kits to be shipped anywhere, ensuring that even customers who live far from the East Coast can enjoy the experience of a seafood boil at home.
Currently, Topsail Steamer offers 12 different varieties of its meal kits, allowing customers to customize their orders and pick the perfect seafood boil for their tastes. Customers can choose from signature kits or mix and match to create their unique combination of ingredients.
As of the most recent Topsail Steamer update, Danielle has continued to focus on quality, ensuring that each kit is packed with fresh, high-quality seafood and all the necessary seasonings. This commitment to quality has played a significant role in Topsail Steamer’s continued success.
The Financials: A Look at Topsail Steamer’s Profitability
Topsail Steamer’s business model is built on strong financial fundamentals, which is one of the key reasons the sharks were interested in investing. Danielle has managed to keep food costs low at just 28% of sales, allowing the company to maintain a healthy profit margin of 60%. This is a solid figure for any business, especially for one in the food industry, where margins can often be tight.
Additionally, the company’s revenue has been impressive. 2023 Topsail Steamer generated $4.5 million in revenue, and the business is on track to reach $5.7 million in 2024. The full-time stores bring in nearly $1 million in annual revenue, while seasonal spots contribute around $450,000.
The profit margins are further boosted by the company’s efficient labour costs, which are kept at 17%. Store managers earn a competitive salary, with annual earnings ranging from $55,000 to $60,000.
Topsail Steamer’s ability to manage costs while maintaining high-quality products has set the business up for long-term success.
What’s Next for Topsail Steamer?
Looking ahead, Topsail Steamer is focused on continuing its expansion. The business aims to open more storefronts along the East Coast and possibly beyond. The company’s partnership with Goldbelly has already opened up new opportunities for national shipping, and Topsail Steamer is likely to continue leveraging this platform to expand its reach even further.
Danielle’s vision for the future of Topsail Steamer is clear: she wants to bring the joy of a seafood boil to homes across the country. By continuing to focus on quality, simplicity, and customer experience, Topsail Steamer is well-positioned to achieve that goal.
A Successful Deal and a Bright Future
Danielle Mahon’s appearance on Shark Tank was a pivotal moment in Topsail Steamer’s journey. Thanks to the investment from Lori Greiner and Todd Graves, the business has grown rapidly, expanded its offerings, and reached new customers across the country. Topsail Steamer is poised for continued success with a solid business model, strong profit margins, and a clear vision for the future.
Whether you’re a seafood enthusiast or someone looking to try something new, Topsail Steamer provides a simple and enjoyable way to create a delicious seafood boil at home. Thanks to the partnership with the sharks, Danielle’s dream of bringing the joy of a beachside seafood feast to kitchens nationwide is now a reality.
Stay tuned for more updates on Topsail Steamer as the company grows and thrives!
For the latest updates from Shark Tank Season 16, Episode 2, explore the links below:
Before you go, make sure to check out our list of all the Shark Tank Season 16 products.
