Needham Native Takes Bagels from Apartment to Shark Tank

Image Credit: Submitted

NEEDHAM, MA - A Needham native’s successful bagel venture started with a dream, literally.

It was the middle of the night when Nick Oleksak, husband of Needham native Elyse Oleksak had a dream where the came up with the idea to make a bagel ball filled with cream cheese. The concept was radically different for the two, who are graduates of Columbia University and veterans of Wall Street.

But of all the things to reinvent, why the bagel? According to Nick, it was because it hadn’t happened yet.

“Our goal was to change the way of America bagels, that doughy carb bomb. It hasn’t had a chance to be recreated. We’re really excited to take our twist and share it with everyone,” he said.

It wasn't before long that the two were raising money from friends and family to start their new venture. Originally making the treats in their apartment, the two had a shop in Manhattan by Labor Day 2013, quickly gaining recognition as the third best bagel in the city according to the New York Daily News and earning a spot on Oprah's Favorite Things of 2014.

“For any small business, that’s anything you can hope for. When we find out we were almost speechless,” Nick said in a phone interview.

“We were reinventing a classic food but her endorsement meant we were quality. Having Oprah say these are amazing and delicious meant longevity of the brand,” Elyse added.

The two even took their product to QVC, where it took only five minutes to sell out the first time they were featured.

Despite the ringing endorsements, the biggest boost had yet to come. In June 2014, the two walked onto the set of ABC’s Shark Tank to attempt to sell an 11 percent equity stake for $275,000. Facing the notoriously quick witted and no-nonsense investors of the show would be no easy task, but the couple, who were avid fans of the shows, did everything they could to prepare.

“The main thing that is stressed is to make sure you know your business. You can tell when the Sharks know that,” Nick said. “Elyse and I spent so much time understanding our numbers and rehearsing our numbers like it was the hardest interview we ever had. They don’t know anything so you have to tell them everything personally and business wise.”

Elyse said they asked friends, family, and investors what they would challenge about their business and watched every single episode of the show. The preparation meant knowing the answers when the questions came flying in an incredibly stressful environment.

“It was as intense as you would imagine. The fact that we had rehearsed and studied meant we didn’t have to think so we could keep the pace with the sharks,” Elyse said.

The two would receive three offers, choosing to go with an offer from Lori Greiner of $275,000 for a 25 percent equity stake. The partnership with Greiner has meant faster growth for the company.

“I think she has sped it up, she just has so much experience in growing her own brand that the question we were facing she had the answers. We would have had (the answers) but Laurie goes by faster,” Elyse said.

2015 and the start of 2016 brought more success for Bantam Bagels. Currently, the product is in 1,500 Starbucks, including many around Needham and Greater Boston. 300 Safeways in Northern California will soon carry the bagels.

The two will get more recognition this week. According to Elyse, the two are scheduled to appear on the ABC talk show “The View” Tuesday.