As the weather turns colder, we often hear others longing for warm summer days spent relaxing with family on the coast.

Though the weather may change, traditions that go hand in hand with summertime celebrations can be enjoyed year-round. Danielle Mahon felt the same way and wanted to bring seafood boils to anyone, coast to coast.

She is the founder and CEO of Topsail Steamer, a family-run company that specializes in ready-to-cook seafood boils shipped nationwide in single-use steam pots.

On Oct. 25, Mahon took her business on ABC’s Shark Tank to build on her success with the help of some well-known experts.

“I have heard from so many customers over the years, ‘You should go on Shark Tank,’” Mahon said. “Last January, I thought well, why not? It would be a great opportunity to both gain national exposure for Topsail Steamer and also have the possibility of partnering with one of the sharks to help scale our business.”

She said that the process started with an online application and video submissions at the beginning of the year.

“We were fortunate enough to keep making it to the next step in the selection process and got the chance to ‘get in the tank’ this past summer in California,” she said. “Even after you film your episode, you only find out if you will actually appear on an episode three weeks before the air date. We were so excited to learn that we would be on the second episode of the season in October.”

Founded on Topsail Island in 2017, Topsail Steamer currently has locations in North Carolina, New Jersey, Alabama, Delaware and Florida offering local pick-up. Nationwide shipping is available through Goldbelly.

Customers have options that include premade and customizable pots as well as cornbread, pies, cakes, tools such as shellers and oyster knives, clam broth, hot sauces, and seasonings as well as merchandise including hats, shirts and coolers.

Mahon received bites from the potential investors on the episode.

Responding to questions about company performance, Mahon said that Topsail Steamer did $4.5 million in sales last year and is expected to reach $5.7 million in 2024. The company averages 28% on food costs and 17% on labor.

Currently, seven of the eight Topsail Steamer locations are company-owned, and one is franchised. Mahon said on air that she believes the total addressable market for the company is 400 brick-and-mortar locations and was seeking investment to expand the company’s footprint.

“I was hoping they would love it, and they did,” she said. “We actually did not have any shark say they ‘were out.’ There were months of preparation before the taping that involved deciding what we would send out to the set and what we would serve the sharks.”

“Most of the preparation was creating and practicing my pitch,” Mahon added. “You only get one chance to deliver your pitch; there are no do-overs, so you want to make sure you do your best with this once-in-a-lifetime chance.”

Mahon received offers from two sharks: Lori Greiner, entrepreneur and self-professed foodie sometimes referred to as the QVC queen, and guest investor Todd Graves, founder of Raising Cane’s Chicken Fingers.

Mahon went into the show asking for a $350,000 investment for an 8% stake in the company.
Through the on-air negotiations, Graves and Greiner agreed to 18% equity for the $350,000 investment.

Through the joint deal, which was under due diligence as of late November, Topsail Steamer is now officially in business with two sharks, and customers are already taking notice.

“We have seen over a 400% increase in our e-commerce sales and increased traffic in all our stores,” Mahon said. “Our mission is to provide an unforgettable seafood experience to share with friends and family. There are several parts to that mission that have made this model successful.”

She said those include attention to ingredients.

“Our stores source local seafood that is available in their markets, and all of the buckets we ship out come directly from our Topsail Island store where we have access to fresh seafood year-round,” she said. “We also provide the convenience of packaging it all together while still providing the opportunity for our customers to participate in the preparation. In the immediate future, we will continue to focus both on the support and growth of our franchise system and our e-commerce.”

Mahon said she doesn’t expect any major changes to Topsail Steamer’s business model post-Shark investment.

“Customers can expect to enjoy the same product they have come to love – but maybe a little closer to home as we add locations,” she said.

The holiday season has become a busy time for direct shipments.

“We consistently hear from our customers that we are their new holiday tradition and that they love to send  (Topsail Steamer) as gifts,” Mahon said. “In December, we will send out thousands of buckets from our Surf City location as holiday gifts.”

-Feast Wilmington director Jessica Maurer contributed to this article.
 
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