Disclosure certainty 4/5 debate potential 1/5

King launched Tate's Bake Shop with a goal to sell at 55

Kathleen King · Tate's Bake Shop: Kathleen King · Dec 16, 2019 · at 41:55

Kathleen King, founder of Tate's Bake Shop, discusses her founding strategy and long-term exit timeline when relaunching her bakery business.

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“I had to have an exit strategy. My goal was to sell when I was 55.”

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More from Kathleen King

Opinion
King viewed Mrs. Fields and David's Cookies as warm-only fads
“The cookies, you know, were thin and crisp and delicious, and they were different from Mrs. Fields and David's cookies, which was a nice concept, but more of a fad. You know, they were hot, Served off the tray type of cookies, and I always used to think, how c…”
Kathleen King Dec 16, 2019 ▶ 22:04 Tate's Bake Shop: Kathleen King
Assertion Supported
In 2000, King was fired from her own bakery by her partners
“So I didn't go on my trip, and I waited, and one day I came to work, they were there, I walked into the office, and they handed me papers, saying that I was fired.”
Kathleen King Dec 16, 2019 ▶ 29:39 Tate's Bake Shop: Kathleen King
Insight
A food product fails unless taste testers immediately return for another bite
“When I used to create new products at the bake shop, I used to watch my staff taste the product. If they taste it and they would be like, oh, this is good, and they walked away and didn't turn around and come back for another bite, I said it wasn't good enough…”
Kathleen King Dec 16, 2019 ▶ 16:23 Tate's Bake Shop: Kathleen King
Insight
King says not trusting people is exhausting, preferring open-eyed trust
“I find not trusting people way too exhausting. And it's not the way I want to live my life, so I was very, very naive, and I used to trust blindly. Now I still trust everybody, but I trust with my eyes open.”
Kathleen King Dec 16, 2019 ▶ 38:52 Tate's Bake Shop: Kathleen King
Assertion Supported
Tate's Bake Shop achieved annual revenue growth of 30% or more
“Tate's, you know, had like a 30% or more increase per year.”
Kathleen King Dec 16, 2019 ▶ 46:05 Tate's Bake Shop: Kathleen King
Disclosure
King sold an 80% stake in Tate's to private equity in 2014
“In the end we settled on Riverside and I ended up selling 80% of the company because I was really ready to retire.”
Kathleen King Dec 16, 2019 ▶ 47:39 Tate's Bake Shop: Kathleen King
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