Many people find carving a turkey or gammon on important occasions, such as Thanksgiving, to be difficult or tedious. Even if they work, the standard electric knives don’t really make the experience more enjoyable.
Lance and Kim Burney enter the picture at this point. They recognized a chance to simplify and add entertainment value to food carving. They built the Mighty Carver, a revolutionary electric carving knife designed to appear and feel like a small chainsaw. This gadget not only makes food carving easier, but it also gives the process a light-hearted, enjoyable touch.
Lance and Kim presented their Mighty Carver to the Sharks, seeking a $100,000 investment for a 20% equity. Did the entrepreneur get a deal on Shark Tank? Check out our Mighty Carver update to find out!
mighty carver Net Worth Shark Tank Update 2025
Lance and Kim Burney asked for a $100,000 investment in exchange for 20% equity in their company. This meant they valued their company at $500,000. They made a deal with Daymond John for $100,000 in exchange for 25% of their company. This new deal valued their company at $400,000. After the show aired, Mighty Carver saw a big increase in website traffic, sales, and social media exposure. With an estimated 10% yearly growth rate (typical business growth), the current net worth of Mighty Carver is about $583,200.
After his appearance on Shark Tank, the Mighty Carver kept gaining popularity. As of today, the business is still thriving and operating. Mighty Carver’s sales increased dramatically because of their deal with Daymond John and the show’s publicity, which allowed them to reach a wider audience. The product gained popularity as a gift, particularly during the Christmas and Thanksgiving seasons.
Since their Shark Tank debut, the company has sold a lot of Mighty Carvers, as seen by their remarkable $8 million valuation. The product is available straight from their website or on Amazon, where it has received over 500 good ratings. The business’s success following Shark Tank has shown that even a clever take on a conventional product can capture the market’s attention.
Yes, Lance and Kim Burney landed a Shark Tank contract. At first, they wanted $100,000 in exchange for 20% of their business. Following several discussions, they agreed to accept Daymond John’s $100,000 offer for 25% shares.
| Shark(s) name | Offer & Demand | Counteroffer | Accepted? |
| Daymond John | 1# $100,000 for 27.5% equity2# $100,000 for 25% equity | $100,000 for 22% of equity stake | Yes |
| Lori Greiner | Out | N/A | N/A |
| Kevin O’Leary | $100,000 for 33.3% equity | N/A | No |
| Barbara Corcoran | Out | N/A | N/A |
| Mark Cuban | Out | N/A | N/A |
Mighty Carver Shark Tank pitch
Married couple Lance and Kim Burney were motivated to build the Mighty Carver by a personal family experience. Every Thanksgiving, Lance observed that the portion of the dinner that involved slicing the turkey could be a little boring. “Why not make this fun?” crossed his mind. That’s when the concept of fusing a chainsaw’s design with an electric knife’s functionality came to be.
Their aim was to enhance the excitement of food carving while maintaining its usefulness and ease of usage. They encountered several difficulties in the beginning, just like other business owners. It took time and effort to design a product that met safety regulations and was entertaining, besides being functional. However, they persevered and realized their original concept, leading to a shark tank.
Lance and Kim showed the Sharks their Mighty Carver, a potent electric carving knife that resembled a chainsaw, during their Shark Tank pitch. They clarified that the tool could cut through fruit, bread, gammon, and turkey with ease. The purpose of the design was to enhance the pleasure of food carving, particularly at large family meals or get-togethers.
Their pitch was well-structured and showed both the entertaining and useful features of their offering. The two want $100,000 in exchange for a 20% stake in their business. They highlighted the 8,500 copies they sold last year, bringing in almost $200,000 in income. The couple’s enthusiasm and the product’s originality wowed the Sharks.
Kevin questioned how they were selling the product. The founders revealed they went to an international houseware show and picked big resellers through that show. They are available at big physical stores.
Kevin O’Leary enquired about the economics of the product and its potential integration with his Chef Wonderful brand. Although their margins were still increasing, Lance clarified that the product had a good chance of earning large profit margins in the future.
Kevin and Lori asked about the sales. The founders replied that they sold 8500 units in the last 12 months.
Daymond John questioned the cost and price of the product. Lance replied that it costs $20 to make and retails for $69 to $89.
Lori inquired about the patent. The founders replied that they had a design patent and a Chinese patent.
Daymond John wanted to know how they expected to handle increases in output and their plans for scaling. They had procedures in place to handle future demand, Lance reassured him.
Kevin O’Leary thought the product would fit into his Chef Wonderful brand, therefore, he liked it and paid $100,000 for 33.3% equity.
Daymond John showed interest right away. After negotiations, he revised his offer from $100,000 for 27.5% equity to $100,000 for 25% equity.
Mark Cuban and Barbara Corcoran attempted to collaborate on a deal, but it was too late because Daymond had already completed the deal.
Ultimately, Daymond John offered Lance and Kim $100,000 in exchange for 25% equity, and they accepted.
Product Availability
With two stainless steel blades and an ergonomic handle, the Mighty Carver is an electric carving knife that is both strong and entertaining. It’s ideal for every meal, not just holiday feasts, as it can cut through meat, bread, and even fruit. The knife is useful for daily use because it is easy to use and has easily cleaned blades.
The Mighty Carver is available for purchase on their own website, Mighty Carver, or on Amazon, where it has amassed hundreds of satisfied customers. It’s a terrific present for foodies, and it usually costs about $69.99.
Conclusion
Success on Shark Tank for The Mighty Carver resulted in an agreement with Daymond John and a remarkable rise in sales. Its unique style and usefulness have allowed it to win over many people’s hearts. Today, the company is booming, with a valuation of roughly $8 million. The Mighty Carver has a bright future ahead of them, and we can’t wait to see what Lance and Kim will do next!
Hey, I’m Amna Habib an undergraduate student of Bachelors in Business Administration. Shark Tank is one of my favorite TV shows of all time. The show provides a fascinating insight into the world of entrepreneurship by presenting creative solutions to common problems, which strongly connects to my academic interests. I’m interested in learning more about the strategic thinking and creativity that lead these companies as each pitch provides insightful information. I’ve found that watching Shark Tank has inspired my enthusiasm for business and entrepreneurship and has been a very enlightening and motivating experience. Apart from business and writing, I love food, shopping, and hanging out with friends and family. Read more About me.
