Let Them Eat Candles Shark Tank Update
About Let Them Eat Candles
Let Them Eat Candles is a company that produces edible candles made from premium milk and dark chocolate. The company was founded by Loree Sandler and her husband Bob Michelson after Loree was inspired to create edible candles during her son’s 12th birthday party.
The candles are designed with architectural detail and a crisp, tapered shape that sets them apart from ordinary candles. They can be lit and enjoyed as a sumptuous treat after the flame is extinguished.
Let Them Eat Candles has received numerous accolades and honors, including being named the Most Shared Product on The Grommet in February 2016 and a Wildcard Finalist in Martha Stewart American Made in 2014
Let Them Eat Candles company appeared on Shark Tank Season 15 where Loree Sandler and Bob Michelson pitched their unique product – edible birthday candles – and secured a deal with Lori Greiner.
Let Them Eat Candles specializes in creating premium chocolate candles that can be enjoyed alongside a birthday cake. The candles are available in milk chocolate and dark chocolate options, lasting for about a minute when lit.
With seven different prints to choose from, they add a delightful touch to any celebration. The candles retail for $2.99 to $3.99 each, making them an affordable and delicious addition to birthdays.
Key Takeaways:
- Let Them Eat Candles secured a deal with Lori Greiner on Shark Tank, receiving an investment of $250,000 for 18% equity.
- Since airing on the show, Let Them Eat Candles has experienced a boost in sales, with $2.3 million in total sales and $675,000 in sales the year before Shark Tank.
- The company aims to expand into big-chain grocery stores and is currently available in Publix, with plans to test their product in Albertson’s and Kroger.
- Let Them Eat Candles plans to launch a new line of more decorative edible candles in addition to their original candle designs showcased on Shark Tank.
- You can find Let Them Eat Candles’ products in various grocery stores and retail outlets, as well as online on their official website and Amazon. Customers highly praise the unique and delicious candles.
Let Them Eat Candles: A Unique Edible Candle Company
Let Them Eat Candles is a company founded by Loree Sandler and Bob Michelson that specializes in making edible birthday candles. The candles are made of premium chocolate and are designed to be enjoyed along with the cake. When lit, the candles last for about a minute, giving enough time to sing “Happy Birthday” and take pictures.
The candles come in milk chocolate and dark chocolate options, and there are seven different prints available. The candles retail for $2.99 to $3.99 each.
Let Them Eat Candles offers a unique twist on traditional birthday candles. Instead of blowing out the candles and discarding them, these candles are meant to be devoured along with the cake.
Made from high-quality chocolate, they add a delicious and memorable touch to any birthday celebration.
The founders, Loree Sandler and Bob Michelson, created Let Them Eat Candles with the idea that birthdays should be a little bit sweeter. They wanted to provide a fun and tasty alternative to traditional candles, and that’s exactly what they did.
The Let Them Eat Candles are not only delicious but also visually appealing. They come in various prints, adding a touch of personality and style to the birthday cake. Whether it’s a simple design or a more elaborate one, there’s something for everyone.
The candles have gained popularity for their unique concept and have become a favorite among customers looking to make a statement at birthday parties. Not only do they bring joy and excitement to the celebration, but they also taste amazing.
If you’re looking to add a special touch to your next birthday party or celebration, Let Them Eat Candles is the perfect choice. With their edible birthday candles, you can make a lasting impression and create unforgettable memories.
The Let Them Eat Candles Shark Tank Pitch
In their bid to secure funding for their innovative edible candle company, Let Them Eat Candles, Loree Sandler and Bob Michelson appeared on Shark Tank Season 15.
The entrepreneurs presented their unique product to the panel of sharks, hoping to secure a deal that would help them take their business to the next level.
LOREE SANDLER, BOB MICHELSON
During their pitch, Loree and Bob requested $250,000 for a 10% equity stake in Let Them Eat Candles, emphasizing the market potential of their edible birthday candles. The sharks were intrigued by the concept and recognized the company’s growth opportunities.
“We believe our candles add a fun and delicious element to any celebration. They’re made of premium chocolate and designed to be enjoyed along with the birthday cake, creating a memorable experience for both kids and adults,” Loree confidently explained.
Barbara Corcoran, impressed by the product and its potential, made an initial offer of $250,000 for a 25% equity stake. Following suit, Lori Greiner proposed a different deal, offering $125,000 as a loan and $125,000 in cash for a 20% equity stake in Let Them Eat Candles.
Loree and Bob carefully considered the offers and decided to counter. They asked if the sharks would consider joining forces and collectively invest in their company for a 15% equity stake. After some negotiation, the entrepreneurs ultimately accepted Lori Greiner’s offer of $250,000 for an 18% equity stake.
Let Them Eat Candles Shark Tank Pitch Details:
| Entrepreneurs | Ask | Offer | Equity Stake |
|---|---|---|---|
| Loree Sandler and Bob Michelson | $250,000 | Barbara Corcoran: $250,000 | 25% |
| Lori Greiner: $125,000 as a loan + $125,000 cash | 20% | ||
| Counter: Sharks investing together | 15% | ||
| Lori Greiner: $250,000 | 18% |
Let Them Eat Candles does not rest on its laurels. On the contrary, they are actively working on new product offerings to delight their customers. In addition to the original candles showcased on Shark Tank, the company is soon launching a new line of more decorative edible candles.
Their focus on innovation and commitment to delivering delightful experiences truly highlights the success story of Let Them Eat Candles. With continued growth and an expanding market presence, the future looks bright for this unique and exciting brand.
The Sharks’ Responses and the Deal
During the Let Them Eat Candles pitch on Shark Tank, the entrepreneurs received mixed responses from the sharks. While some expressed interest, others had reservations about the company’s potential for success. Let’s take a closer look at each shark’s response and the final deal that was made.
Kevin O’Leary: Although Kevin O’Leary believed in the entrepreneurs and their product, he felt that it would take 2-3 more years for them to reach their goals. As a result, he did not make an offer.
Robert Herjavec: Robert Herjavec, who had a competing product, chose not to make an offer due to a conflict of interest.
Mark Cuban: Mark Cuban expressed doubts about the company’s ability to generate enough sales to be investable. He did not make an offer.
“I don’t think you’re going to be able to sell enough of them to make it work.”
Barbara Corcoran: Barbara Corcoran saw potential in Let Them Eat Candles and made an offer of $250,000 for 25% equity in the company.
Lori Greiner: Lori Greiner was also intrigued by the product and made an offer of $125,000 as a loan and $125,000 cash for 20% equity.
“I love everything about it, but I just want to be really smart about what I offer you.”
In the end, Loree and Bob countered both offers, asking if the sharks would consider going in together for 15% equity. However, they eventually accepted Lori Greiner’s offer of $250,000 for 18% equity, securing a valuable partnership on Shark Tank.
By teaming up with Lori Greiner, Let Them Eat Candles was able to secure the funding and expertise necessary to propel their business forward. The deal not only provided them with the financial resources they needed but also valuable mentorship and exposure to a wider audience.
With the support of Lori Greiner and their continued dedication, Let Them Eat Candles is well-positioned for further growth in the market of edible birthday candles.
| Aspect | Details |
| Company Name | Let Them Eat Candles |
| Founder | Loree Sandler |
| Founded | 2012 |
| Product | Edible Chocolate Candles |
| Asked For | $250k for 10% equity (Shark Tank) |
| Final Deal | $125k in Cash + $125k as a loan for 18% equity |
| Shark | Lori Greiner |
| Episode (Shark Tank) | Season 15 Episode 17 |
| Air Date | March 8th, 2024 |
| Business Status | In Business |
| Website | Website |
| Headquarters | Winnetka, Illinois, USA |
| Lifetime Worth (Sales) | $1M *estimated |
| Products | Edible candles made from milk chocolate and dark chocolate |
| Retail Stores | Publix, World Market, Mariano’s, Raleys, Lunds Byerlys, Amazon, and more |
| Product Cost | $11.95 per pack of 3 candles |
| Sales Data | Lifetime: $2.3 million; 2022: $675,000; 2023 goal: $1 million |
| Competitor Offers | Barbara Corcoran: $250k for 25% equity, Lori Greiner: $125k in Cash + $125k loan for 18% equity |
| Net Worth | $1.4million |
| Current Status | Still in business as of March 2024 |
| Employees | Approximately 2 |
What Happened to Let Them Eat Candles After Shark Tank Pitch? Net Worth and Valuation
When Let Them Eat Candles appeared on Shark Tank, they arrived with a valuation of $2.5 million. The co-founders, Loree Sandler and Bob Michelson, sought $250,000 for a 10% equity stake in their company.
However, Barbara Corcoran assessed the company’s worth at $1 million and offered the same amount for a 25% equity stake. Ultimately, Loree and Bob closed a deal with Lori Greiner at a valuation of $1.4 million.
The current net worth of Let Them Eat Candles is estimated to be over $1.5 million. This valuation reflects the growth and success the company has experienced since their appearance on Shark Tank.
With their unique edible birthday candles and expanding presence in major grocery stores, they are positioned for further growth in the future.
To showcase the details mentioned above, here is a visual representation:
| Valuation | Net Worth | |
|---|---|---|
| Let Them Eat Candles on Shark Tank | $2.5 million | N/A |
| Barbara Corcoran’s Offer | $1 million | N/A |
| Lori Greiner’s Deal | $1.4 million | Over $1.4 million |
As the company continues to expand its product line and reach new customers, their net worth is expected to grow even further. Let Them Eat Candles has established a strong presence in both physical stores and online platforms, making their unique edible candles easily accessible to consumers.
Stay tuned for the next section where we explore where you can find Let Them Eat Candles and how to purchase their delicious products.
Where to Find Let Them Eat Candles
If you’re wondering where to buy Let Them Eat Candles, you’re in luck! Their delicious and unique edible birthday candles can be found in several grocery stores and retail outlets across the United States.
You can discover their products at Publix, Mariano’s, Raley’s, Nothing Bundt’ Cakes, and Lunds & Byerlys. So, no matter where you’re located, there’s a good chance you’ll find Let Them Eat Candles near you.
In addition to physical stores, Let Them Eat Candles’ products are also available for purchase online. You can visit their official website or head over to Amazon to order your favorite candles from the comfort of your home.
As an added bonus, Let Them Eat Candles offers bundles of three candles for just $11.95, allowing you to stock up for any upcoming celebrations.
Customers have been raving about Let Them Eat Candles, praising them as a delightful and delicious addition to birthday cakes. These edible candles have become a hit, enhancing the joy and excitement of special occasions. With their unique flavors and designs, Let Them Eat Candles are sure to impress both kids and adults alike.
But wait, there’s more! Let Them Eat Candles has exciting plans in store for their customers. They are set to launch a new line of balloon-shaped candles, featuring numbers and messages for various occasions. So, keep an eye out for these upcoming additions to their already impressive product range.
Is Let Them Eat Candles Still In Business?
Yes, Let Them Eat Candles is still in business. The company has expanded its presence and can now be found in hundreds of stores nationwide, with more products in development.
Loree Sandler and Bob Michelson, the founders of Let Them Eat Candles, have been dedicated to growing their business and offering their unique edible candles made from premium milk and dark chocolate to customers for various celebrations
Let Them Eat Candles appeared on Shark Tank Season 15, where Loree Sandler and Bob Michelson pitched their business to the Sharks. They were seeking $250,000 for 10% equity in their company. Lori Greiner made an offer of $250,000 for 18% equity, and the couple accepted the deal
