Pitch perfect: Frosted
Owners: Kyle Anderman (above) and Andi Carroll
The pitch: LSU Student Incubator’s Venture Challenge, 2013
Capital gained: $8,000
Business inception: February 2012
With a sweet spot for creativity, ingenuity and sugary treats, Kyle Anderman launched a gourmet cupcake business that’s booming after winning LSU’s Venture Challenge in 2013. His business plan is designed to satisfy Baton Rouge’s sweet tooth at an affordable price in a laid-back, student-friendly environment. After three years in business, Anderman and his partner, Andi Carroll, are looking to expand their business by tapping into the LSU campus dining market.
Would you describe yourself as an entrepreneur?
I would describe myself as a serial entrepreneur at heart. Being an entrepreneurship major in the E. J. Ourso College of Business at LSU, it has always been my dream to create and operate multiple businesses. I have a passion for the creativity and ingenuity required to open and successfully run a business.
What was the next step after the Venture Challenge?
The steps that Frosted has taken since the competition have been enormous. Since winning first place in the Venture, Frosted has redesigned the storefront, added new products such as macaroons from the famous Sucre in New Orleans, and has become a staple in the LSU community for quality baked items for any event or celebration.
What advice would you give to other entrepreneurs on giving a pitch?
The biggest piece of advice I could offer to entrepreneurs pitching their ideas is that you have to perform. By “perform,” I mean that you have to captivate the audience and steal their attention from the very start of your speech. Viewing the competition as a performance forces you to place your focus on speaking to the audience and really selling your story. Allow the judges and audience to see your passion, not simply hear it.
Would you consider participating in other pitch competitions?
I would absolutely love to participate in more pitch competitions! This was my very first competition, and I have already acquired a passion for it. One of my favorite TV shows is Shark Tank, and I would love to one day take one of my business concepts or inventions to the show.
What were revenues in the year after the competition?
In the year since the competition Frosted’s revenues have spiked. Just this fiscal year, Frosted has already seen over $180,000 in sales.