From Side Hustle to Million-Dollar Cookie Business

Maura Duggan, founder and CEO of Fancypants Baking Co., shares her journey from a neuroscience and education background to building a thriving cookie empire. Starting as a side hustle in her tiny condo kitchen, Fancypants has grown to annual sales ranging from $5 million to $10 million and is available in over 1,750 retailers.

Early Days of Fancypants Baking Co.

Duggan's passion for baking stemmed from fond childhood memories of her mother and grandmother. She saw it as a way to reconnect with those memories and bring in some extra income. In 2004, she started Fancypants, focusing on her favorite dessert: cookies.

• Initially, Duggan baked batch after batch of cookies in her evenings, seeking feedback from friends and family.
• While refining her cookie recipes, she simultaneously focused on the business side, obtaining a kitchen license, setting up a bank account, and securing insurance.
• Determining the right price point for her premium ingredients was essential to ensuring sustainable growth.

Turning a Side Hustle into a Full-Time Business

Within three months, Duggan left her full-time job to focus on Fancypants, and within the first 10 months, she achieved close to $100,000 in revenue. It was clear that Fancypants had the potential to become a sustainable business.

• Duggan worked long hours, 12-15 hours a day, seven days a week, even with two children, relying on family and friends for support.
• While she initially lacked confidence in fully understanding the intricacies of manufacturing, she sought guidance from industry experts, suppliers, and store owners.
• Duggan learned to trust her instincts and build self-confidence as she navigated the challenges of scaling her business.

Evolving the Cookie Business

Fancypants evolved from a primarily wholesale model to incorporating consumer-facing products. While initially focused on iced decorative cookies sold in bakery departments, Fancypants launched a new line of crispy cookies for center-store grocery aisle placement in 2024.

• This new line is expected to exceed $1 million in revenue for 2024, with projections to double or triple that over the next five years.
• Fancypants remains committed to manufacturing its cookies in Massachusetts, offering above-minimum wage and benefits to its production team.

Lessons Learned from the Cookie Entrepreneur

Duggan highlights the importance of finding a niche and leaning into it with passion and belief. Building a network of advisors and peers is crucial for support and guidance. Investing in relationships and face-to-face connections reduces the isolation often experienced by entrepreneurs.

• Networking brings practical benefits and helps with building a successful cookie business.
• Don't be afraid to reach out for advice and guidance from others in the industry.

Key Takeaways for Aspiring Cookie Entrepreneurs

• Passion and belief in your product are essential for success.
• Build a strong network of advisors and peers.
• Invest in face-to-face connections and networking opportunities.
• Don't be afraid to seek guidance and learn from others.
• Remember that your journey as a cookie entrepreneur will be filled with challenges and rewards.

Key Points about Fancypants Baking Co.

• Fancypants is a successful CPG cookie business with annual sales ranging from $5 million to $10 million.
• The company has a wide retail presence, available in over 1,750 retailers including Central Market, Gelson's, and Mother's Market.
• Fancypants has evolved from a primarily wholesale model to include consumer-facing products.
• They are committed to manufacturing their cookies in Massachusetts and offering above-minimum wage and benefits to their employees.