4th Annual Event Draws Impressive Contestants and Enthusiastic Audience
Alyssa Kensill's concept for Batty Boba Café captured the imagination of the Sharks, who awarded her $2,500 to get her dream of a milk tea business in Cincinnati's Anderson Township off the ground.
PICTURED: From the left, Sharks (judges) Dessie Rogers, Lacie Evans and Tim Wiederhold congratulate Alyssa Kensill as the grand winner of Quaker Tank.
Indeed, she took home half of the $5,000 awarded at Thursday evening's (March 2) fourth annual Quaker Tank — Wilmington College's version of ABC TV's popular Shark Tank. WC's contestants pitched their business concepts for three minutes followed by six minutes of questions from the panel of three Sharks, a.k.a. judges, who read the business plans prior to the competition.
In addition to Kensill, a junior, the other finalists included sophomore McKayla Sites, The Urban Daily boutique; freshman Matt Groom, Bag-M-Kicks shoe reseller; senior Cassady Healea, Sew Much Better women's fashion; senior Katrina Kanzari, Beauty-N-Beast baby clothes; and the team of sophomores Stephen Lipps and Ethan Hawk, Outset Nutrition, supplements.
This year's sharks were Lacie Evans of Heifer Please Co.; Tim Wiederhold, owner/operator of Wiederhold Painting; and Dessie Rodgers, executive director of the Wilmington/Clinton County Chamber of Commerce. Each Shark had $1,500 to award to one or more contestants with $500 available for the audience's favorite.
Brenda Kraner, director of the College's Master of Organizational Leadership program, emceed the event.
Kensill shared her idea for a café featuring the popular Boba tea, which originated in eastern Asia and usually is comprised of a mixture of black tea, milk, ice and tapioca, shaken and served with a fat straw to accommodate the tapioca pearls. Her products include options for flavorings and special toppings.
"The flavored milk tea is a snack, dessert and breakfast drink," she said, noting industry sales worldwide topped $2.3 billion in 2020 with projections for exceeding $4.2 billion by 2027.
While her goal is to have a stable storefront near a local high school, the Sharks recommended she start small with a drink cart or food truck to establish her name — and entice future customers for her Batty Boba Café. The $2,500 will go toward machinery and marketing. She hopes one day her tea will be sold in vending machines.
Weiderhold praised Kensill's business concept. "I think you have a really awesome idea. I see the possibility for growth."
The Sharks awarded Kanzari's Beauty-N-Beast baby clothes business. $1,000. A sixth-generation crocheter, Kanzari has been selling her handmade baby beanies/booties, animals and blankets at craft shows and through customized orders.
Groom collected $500 for his Bag-M-Kicks business, which taps into the market for used sneakers and athletic shoes. Indeed, he cited a pair of vintage Nike Air Jordans that command more than $400. He purchases and sells the shoes online and credits his profits with paying for his college education. "This game is about branding and developing a consumer base," he said, noting he's employed social media influencers to publicize his brand. Groom, who's already totaled $45,000 in sales since starting the endeavor in high school, boasts a shoe collection valued at more than $20,000.
Sites' business, The Urban Daily women's boutique, won the $500 People's Choice Award from audience voting. After opening in 2021 promoting all products under $50, she has sold 256 items, including handmade jewelry and sweatshirts, via her website and Instagram advertising.
Rounding out the field was Healea's Sew Much Better women's fashion, which sells used clothing customized into one-of-a-kind garments. She received $250. The team of lifelong friends, Lipps and Hawk, whose athletic workout supplement business, Outset Nutrition, also garnered $250.
Dr. Tim Borgoyne, assistant professor of business management, brought the competition idea to the College four years ago. He cited its origin with President Barack Obama's promotion of small business initiatives.
“The entrepreneurial spirit has become a key component of our nation's success," Burgoyne said, noting the former president designated November as National Entrepreneurship Month in 2011. Quaker Tank's planning process actually starts in November every year.
"The competition is centered on promoting the key objective of Obama’s initiative — to unlock access to capital for entrepreneurs and expand mentorship opportunities nationally.”
The professor, who added that sponsorships for the prize money are a key component in Quaker Tank's success, wished to express the College's appreciation for their support.
Quaker Tank was presented with sponsorship from Lebanon Citizens National Bank and Tri-State SCUBA at the Gold Level, First Financial Bank at the Silver Level and Merchants National Bank, Wilmington Savings Bank, McIntosh Real Estate Services, Wright-Patt Credit Union and Advanced Turf Solutions at the Bronze Level.