Bringing In $4.5 Million A Year Selling Dumplings
Вставка
- Опубліковано 29 гру 2023
- Nadia Liu Spellman, 41, brought in $4.5 million over a year through her dumpling business. Nadia is the founder and CEO of Dumpling Daughter, a quick-service restaurant chain and direct-to-consumer dumpling business based in Boston, MA.
Check out Dumpling Daughter's Instagram: / dumplingdaughter
Produced by: Tasia Jensen
Managing Producer: Beatriz Bajuelos
Camera: Timothy Fadek
Animator: Gene Kim
Reporter: Megan Sauer
Production Assistance: Jackie Zhou
Subscribe to CNBC Make It.: cnb.cx/2kxl2rf
About CNBC Make It.: CNBC Make It. is a new section of CNBC dedicated to making you smarter about managing your business, career, and money.
Connect with CNBC Make It. Online
Get the latest updates: www.cnbc.com/make-it
Find CNBC Make It. on Facebook: cnb.cx/LikeCNBCMakeIt
Find CNBC Make It. on Twitter: cnb.cx/FollowCNBCMakeIt
Find CNBC Make It. on Instagram: bit.ly/InstagramCNBCMakeIt
#CNBC
#CNBCMakeIt
#HowIMadeIt
How I Bring In $4.5 Million A Year Selling Dumplings
Her dad left her 30k, and have family that loan her up to 160k, so that helps a ton. Its really hard to save that much and have it in hand. Plus her dumplings are not really that great compared to the chinese opened ones in new york chinatowns, but her selling of the brand in english made her successful. Those chinese dumpling places, the owners dont know English so it limits them, but the chinese know where to go for good dumplings. This is coming from a chinese guy who ate dumplings all over america and china
I figured that knowing how to market to Americans is what is helping her restaurant do so well. Cuz those dumplings did not look good compared to the native Chinese operated ones and your comment kind of confirms it.
@@minxili3317 theres a reason panda express makes Americanized chinese food and makes millions, and a mom and pop authentic chinese food place in nyc chinatowns struggle to stay open due to competition. Its all in the marketing.
yes, there are existing frozen dumpling consumer products from Weichuan and other brands which are not sold in american stores.
She found a niche to exploit.
@@kkp4297 Yup, if native Asians had a better grasp on the language and knew how to change their marketing tactics that suited Americans more, she would have serious competition. Plus she opened restaurants in places with not much native Chinese competition which is why she is even doing well. Plus her food is overpriced on Yelp.
@@minxili3317 shes targeting the higher end chinese food in terms of dumplings, to americans who cant taste the difference. If her business is in chinatowns or in china, it will get squashed quickly, its not cheap enough and not tasty enough. The real good dumplings are never frozen, hand made from scratch. Its like mcdonalds in china is middle class, in america its poor people food, and many struggling burger joints can make a tastier burger, but mcdonalds makes billions.
She said a lot but I’m just curious how you only had $97 in your bank account after 5 years in investment banking ?
she said she spent it all eating out and living a good life.
In new york, low level investment bankers don't take home a lot after expenses and discretionary spending.
timeline wise too it seems she left NYC/investment banking in 2008, so she may have been impacted by the financial crisis.
How did she only have $97 in her bank account after working 5 years in investment banking? Uhhhhh
Probably lifestyle and potentially college load debt? I recently started watching Caleb Hammer's Financial Audit series, and there are a lot of people that actually make a good income, but have so much debt. I'm not saying that's where Nadia was, but it's possible to have high income and not be putting away a good amount of it.
@@hummersd idk she went to babson college and her parents well rich. If there is anything Rich Asian parents will pay for its typically pay college tuition
@@charles8466well she is obviously lying.
That's def a cap for the plot
She was paying for nyc rent, going out, maybe vacations, maybe buying luxury goods, maybe car and garage payments, maybe student loans.
It's easy to overspend if you don't have a budget.
She was rich from before. How does this story qualify?
It qualifies because her business succeeded. Plenty of rich people have restaurants fail.
this video said her dad only left her $30k and she borrowed the rest.
she turned that into a greater fortune. A far cry from donald trump's dad who gave him millions.
@@kkp4297 well if he turned millions into billions, that's still a good achievement right?
I don't actually know what his real net worth is
@@GameFuMaster He doesn't have billions. Donald cooked the books. and he doesn't pay taxes.
Yep. Her parents also had a restaurant so she didn't start from scratch. She also has her husband to fall back on.
Two of her employees left the business and started up their own business called Dumpling Girl. lol
Then she sued that other business.
Well, if you want to start a business selling a traditional-food product, just sell the traditional food product. Don't sell the brand-name. The brand-name's taken.
I have also dreamed of starting up my own food business, being my own boss and all that.
Food businesses are one of the most high-cost business start-ups.
And you really have to be careful with food preparation, safety and handling.
I agree. I don't think it was legal to sue them as they didn't copied the exact business name.
Did she own a dumpling patent?
@@johnwoo1577 I just think the other party did not have money to fight this. Nothing unique about her product or brand.
@@Happysoul_3it was too similar. They were clearly trying to ride on the back of her company, and the name might not be the only thing they tried to take but the recipe too.
Thanks for the update.
Yes, the crypto market is really taking off and Bitcoin is in good shape to start trading now🔉
Te/e gram
@Rolandostrategy THAT IS HIS USER NAME
please make sure you write the USER NAME complete and He's verified
so she made dumplings more approachable to w ppl
I've lived off just eating dumpling for a whole 6+ months…… I was super addicted to it, like…… it was crazy how much dumpling I ate.
It was just that good.
love hearing stories of families immigrating to USA to start the American dream..thanks for sharing.
Nadia's mother is a beautiful lady
Wow amazing. I love dumplings. She seems like a loving daughter and lady
She’s managed to do something very hard and be successful. Props to her.
Nadia is a remarkable woman 🎉 Congratulations on your success!
Her mom is so beautiful
love the story and success. where im at, there's several asian grocery stores that sell frozen dumplings and costco too. There's tons of hole in the wall places that sells dumplings. what sets her apart? location of no dumplings in the area? addictive dumplings?
As a navajo woman, i love stories like these ❤ they really inspire me ❤
I was about to order some of their frozen dumplings online until I saw $85 for shipping.
I wouldn't want to help this lady hire any more maids.
amazing story thanks very much for sharing this!😍
how do you have so little money left as an investment banker?
We love her food. Thank you for making your restaurants nut free and safe for young families.
Definitely seems like a promotional video for dumpling daughter restaurant, she already came from a rich background and had good support from family, she didn't make it on her own. Hard pass on this promotional material.
i wouldn't say her parents were that rich. They had a restaurant with lots of overhead costs. And her dad only left her $30k.
restaurant businesses are not that easy to get rich from.
Just because someone is born into a rich family, doesn't mean they will be successful. If anything, I've seen more people fall from rich families because they expect their parents to bail them out for their decisions, and when the parents don't, these kids go out on their own and don't succeed.
AIN’T THIS THE TRUTH
There's plenty of CNBC Make It videos with privileged rich kids. She's not the first.
Yes, of course. All of the people featured on this channel are doing it for promotion. Why else would you star in a video about your business? She's not after UA-cam subs or selling any courses or books, so she must want promotional advertising for her business.
a very good story by her marketing agency
So much hate in the comments smh
CNBC Start Rich
please post net income next time. I could buy and sell $100m dollars of worth of things for little or no profit and that would still be "bringing in $100m/yr"
she already admitted that dumpling daughter consumer products were a "losing business," like any other startup company.
Her mom is beautiful
This is an episode of how I got bankrolled
Such an inspirational story!
Now I want to eat dumplings 🥟
We need CNBC didn't make it. Where you have people who against all odds went against the grain and didn't make it.
This. CNBC Make It videos feed into self starters and poor folks and delude them thinking that everyone like their background is going to make it when in reality these people not only worked hard but also had luck on their side. If hard work was the only ingredient then everyone of us would have made it by now.
To make it in business you have to be shrewd and know how to talk like your sharing with people. But the reality is that business is about how little you can pay a person to a do a job you wouldn't do. It's about lying and taking advantage of the next human.
Why not say how much profit is actually being made?
Probably negative
She clearly states the d2c branch is losing money und funded by the restaurants.
great story!!
They should consider doing more fusion types of flavors such as Mac n Cheese dumplings or something
That's the most 'merican thing i've heard this year!
The fact that her employees left and screwed her you can't imagine the resilience it takes to keep going after that. No one should support thieves.
She probably didn't pay them as much as she was paying herself? Business is a balancing act between taking advantage of people while maintaining an appearance that you "care". She didn't invent dumplings.. she's just a person trying to capitalize/take advantage of people for her own well being.
@@gfbmusicWhy should they make more money than their boss? The fact that they settled meant that they knew they’d lose
I hope the business fails, there's a reason why employees leave and its very telling.
@@RollerBladingSuxs Only two out of how many? Be gone, Satan.
@@andycalimara People don't just settle because ''they'd lose'', there are a lot of other reasons as well.
Please explain out of the blue statements like "I only had $97 in my bank account" after 5 years of investment banking, a traditionally lucrative job. I'm so confused, and whenever I see this it makes me doubt the veracity of other aspects of the video. Otherwise, good for Nadia.
simple explanation: she said she liked to party and live a good life. After new york city rent and expenses, she lived paycheck to paycheck.
Not hard to understand.
so she’s an extension of her parents business, this isn’t “make it” this is being given it.
Good!
Very interesting! I grew up with homemade dumplings from scratch and have never seen dumplings shaped like that in China either. Usually, they have pleats at the fold, but hers doesn't. Hers looks more like Pierogi than Chinese dumplings. All the dumplings at restaurants in China are also hand made, not machine-made.
Exactly!
I think her dumplings are for non-Asian people so authenticity is not the key! I am Chinese too and I probably wouldn’t eat there too, although I might bring non Asian friends there. For some people, this maybe as far as they would go vs. the real authentic stuff which is too overwhelming for them, if you know what I mean! Another way of saying it is, some non Asians just don’t care about authentic stuff but they will settle for something that still looks foreign but not authentic, such as eating at Panda Express vs. at Haidilao!
That's the shape of dumplings here in the USA. She's doing great, we love her dumplings.
Her mom is so pretty
Is she for sale?
Hats off to you!!! Indeed lovely name and good tast i believe😅😅😅
Nice work…inspiring story.
Something doesn't add up. If she sells 50,000 boxes a month she should be at at least $8m a year on the frozen dumpling business alone. From her website, they seem to cost about $14/box if you get the bundle which is $700k a month average. Including her restaurant business, that should put her far far above $4.5m a year.
What am I missing? Is my math incorrect or is the frozen dumpling business new and just ramping up?
she said she started the frozen dumpling business during covid.
so it's a money-losing startup basically.
I wish her success though.
You can buy premade dumplings at Asian groceries in America for cheaper prices. Even Ling Ling is cheaper at Costco for a huge bag.
@@minxili3317didn’t like Ling Ling dumplings. It doesn’t taste good. I haven’t tried this one. But I think I will pass.
Congratulations 🥳🥳🥳🥳
Very cool story. Best of luck and continued success
The customers and response that she got is what forced her to grow the brand (meaning it was the money). Her husband said she doesn't have to work ha (more, like he doesn't have to work).
that's true never depend on someone else
Her family was already rich?
well her story about how much she makes in a years don't even add up in numbers even and how the resturant looked like it looked like it was small resturant that don't make that kinda money even if she sells a cookbook etc but she makes money but that number in just at the beginning i would say no shot... she needs to have more then dumplings i would say it will take some good time for her to own that money if she is not on a OF then yeah might be possible
Also curious how much profit she is making.... something doesn't seem right about the numbers she gave unless she's cooking the books or using this restaurant as a front for some other business.
I agree. Something doesn’t add up. I think her retail of dumplings 🥟 earns more than her restaurant. Based on the look of her restaurant, it can only bring in around 1.5 mil to 2 mil max annually of revenue not counting tips. Her profit is about 400-500k I guess from the restaurant.
I really admire you
Can u show how u make it
No lie, but the dumplings don't look different from everything else. Pretty thick looking skin.
She has a very pretty mother
It's like a McDonald's Tale.
hmm....really craving dumplings rn for some reason....
She definitely did have a decent amount of privilege.
yeah but she didnt lie or hide the fact like most people
So do most other upper middle-class and rich people. 🫤
@@diamondkid333 I didn't say she did. But the general pattern for the videos on this channel is for the people who started with quite literal zero or from the negative.
@@diamondkid333she did. I don’t buy her $97 story, she had plenty of money outside of her bank account
@@prateeksinha1176 Lol what? Some of their older videos had people similar to the girl in this video who comes from privilege. It wasn't till viewers started complaining that they added some folks who actually came from literal zero.
Yikes a bunch of haters in the comments.
Very inspiring
2. “Brining in $4.5 million” doesn’t mean anything. Beneath the surface, she might be losing money if she’s heavily invested on low margin and high risk items( perishable dumplings).
Total revenue $4.5 million how much are expenses????
4. She invested heavily to promote and marketing, her business, including her restaurants. However based on Google reviews, customers and consumers are disappointed to the quality of the dumplings, and the services inside the restaurant
With a last name like Spellman, I don’t know how authentic the taste will be.
That is her *married* name...
Pretty sure she's ethnically Chinese.
You do understand how marriage and last names work, right?
Yum
You lot on here are miserable. Can’t just say congratulations and move on. Even if she did come from money she’s still built a business which is doing very well! Entrepreneurship is hard and she’s succeeding. Well done to her!
The problem is on CNBC " MAKE IT", they are always misrepresenting to the public what it takes to succeed. In many of the pieces they paint a picture as if these everyday people pulled up their boot straps and became rich in 1 or 2 years. Many of the financial figures presented don't add up. Many of these business owners are in fact promoting and flexing. In many cases lying.
1st of all you have to convince a bunch of poor people to do the job for you! And you'd be paying them as little as possible too.. as long as they don't complain. You have built a "team".
She came from means. She’s not poor working class like majority of Americans. Congrats to her but can we have more realistic rags to riches stories
Go make your own means and stfu.
inherit $30k and borrow $160k, and see what you can make of it.
it somewhat is a rags to riches story, although she is not really rich. Her husband makes good money though, so he can financially support her ambitions.
@@kkp4297most of us don’t have families to loan us a $1 let alone $130k. Stop the cap
that's very privileged. 90% of Americans don't have that opportunity. @@kkp4297
this isn't traditional dumplings. the traditional hand made dumplings have folds on the edge. the folds are particularly made so that the dumplings don't absorb too much water while being cooked. The machine made ones don't have it. If you want to claim traditional dumplings, you should make the flavor and the shape exactly the same as the traditional ones. Yours are itlalian dumplings, not the Chinese dumplings.
It doesn’t matter, it works.
That's exactly what I thought and commented too. Looks more like Pierogi.
@@Sunn777 In my opinion, it does matter because she is representing culture, but that's just me.
3. Real good and delicious dumplings use thin wrap. Only poor people in China can tolerate thick wraps. Poor people use thick wrap to use less fillings
Looks delicious - good on her!
i love dumblings SO MUCH. If i can have a lot of dumpling,s carlifornia rolls and seaweed salad, i would enter a food coma
omg is this already a good movie story or what?
Just grow up in a five-star restaurant, bro.
This has franchising potential.
She had $97 from her investment banker job. Her dad leaves $30k in her name and her husband tells her she doesn’t need to work- but she did because her dad wanted a “self sufficient woman” is it possible at $30k? Anyways, she took her family recipes and made the restaurant good looking, cleaner looking and worked in Branding. She knew that she could make more money in business deductions than a job and is why she left that career. I bet she made enough in that role and the way some stock prices were.
Great story, but she ignores or chooses not to talk about privilege.
not much privilege I can see. She made a bet on a dumpling restaurant from borrowed money.
Nothing is preventing you or anyone else from doing the same.
Plenty of people get inheritances and don’t go on to grow million dollar businesses. It’s so pointless focussing on someone’s privilege - take the positives out of the story.
she borrowed $160k
stopped watching when she said her parents owned a fancy 5star restaurant. She didn't make it, she was born into it.
Wow so many negative comments, ppl are so petty. I am glad she’s doing what she loves, a lot of people can’t say the same.....
Just come from parents with an already successfully business and have a breadwinning husband. Got it!
I had Chinese dumpling, 2 day ago. They pretty good, if you have the right sauce. Course. Many sauces qualify as 'right sauce.' A lot of people have a 'take' on what make they dumplings better. For some, it how much 'filling.' For others, it not about how much 'filling.' I like how 'Dumpling Daughter' dumpling not this bursting at seam kinda dumpling. Those are the ones, where the dumpling 'skin' hold the sauce. It the concept of pasta. But. Reversed. Cuz the meat on the inside. In some parts of China, they make these dumplings really small, so if you talking to someone, from those parts, and they say they ate 40-50 dumplings, it not like 4 pound dumpling. It a normal amount for a meal. Nadia pretty cool. She take this professional risk. You know? Chinese not known for that. Anyway. 4.5 million a pretty large sum of money. If I a dumpling professional, I think of dumpling that can go with the 'peanut sauce' in sesame noodle appetizer, which many Chinese restaurants serve. Meat in most Chinese dumpling not good with spicy peanut sauce, cuz of the nature of it savoriness. You might need like REAL meat, and that an interesting thought with dumpling, have ground filling. You know?
So you can afford to pay your restaurant workers a living wage?
But you choose not to and upcharge 20% tips to mint more money from your customers to reach 4.5mil?
How come her father only left her $30K? Did he leave everything to her mom or where did the money go?
Typically that's where it goes -- to the surviving spouse. And also, if his advice to her was to be a self-sufficient woman, all the kids probably didn't get much. She invested it in a great way.
Why does this seem like a sponsored puff piece? Lol
Asian family… you take care of everyone
I can honestly tell you I can make better looking dumplings than those and I am not even a pro. I just have some common sense in cooking, look into the different recipes I have learned and tried them all and come up with the one of my own.
How do you have 97$ in your bank account working in finance.. dude I have more money than that and I have a freelance job from time to time
Rip these employees slaving away for dumpings
It is so silly that dumpling girl setup nearby. Usa is soooooo big
Dumplings look delicious. I HOPE the frozen is as good as the restaurants’. Sometimes they don’t translate. But, I’m gonna give it a try
I dont see why she sued the former employees. They have a right to ipen a dumpling restaurant.
Nyc has many dumpling restaurants.
LOL Are you one of the girl ? She clearly said that they made a COPYCAT, inspiration is OK but copy is steeling people, they copy the menu and even the name is so similar, she just protect herself and she was right !
@suzen.655 maybe I didn't hear it was a replica of her restaurant.
It's legal to have a dumplings restaurant.
I know she can sue for similar name.
dam what a snake those former employees were, i would sue them till there pockets went broke
I had these and they are not good. I hate to say it as the story is nice… but they are just not good.
“I have rich parents and I used their wealth to pursue my dreams and create wealth if my own”
rich parents who only left her $30k and she had to borrow the rest from extended family and friends.
You can do the same. Banks will lend you money.
I think her secret is the financial background she has. Wtg!
yummy
‘Dumpling’ this IP itself is more than 100 billion USD. Just like noodles probably that IP is about 1 trillion USD. Italian copied Chinese noodles back to Europe and became spaghetti plus pasta. So Chinese cultural foods each IP worth billions. 4.5million is too little
I love this
5. Without looking at the published financial numbers, it is hard to project the future of her business. But making thick dough dumpling is very bad taste and a very bad start.
As soon as she comes to Texas, specifically Houston area it's game over
Lots of competition but yes, def a good chance here
that's why she picked a good location.
you want to compete where there is no competition.
1. This is a commercial for her to promote the business and sucking money from more investors.
Her story sounds like a fairytale.
Free capital from family and husband to support financially, what there to lose? $160k are you kidding me?
Please add all best dumpling location listing here.. Let Ling and us try and enhance and soon, D. D will be best of the best in the whole usa🙏👍🔜
Made it? How? She didn’t struggle! She was raised in a family obviously made of money due to a successful restaurant !
thats the majority of these reports. all it says is how important it is to be born rich
Being born into a wealthy family is the key to success.
Don't hate boss, 30,000usd start up isn't rich. Besides can't blame the child that her parents laid a good foundation. You can do the same for your kids that's how I always try to approach things. I may not have had a Good start, but my kids should have a better start n leverage.
Why do people need to struggle to make it? Weird logic
The error is in the misrepresentation. Leading lower to middle income earners to believe that they can create an extremely successful business without generational wealth and a breadwinning spouse. Much easier to take risks when your safety net is strong.