What Happened to Painted Pretzel After the Shark Tank Pitch?
What is Painted Pretzel?
The Painted Pretzel sells unique, quality chocolate-covered pretzel confections both in-store and online. Pretzel knots, pretzel rods, pretzel bark, and pretzel turtles come in a range of flavors and sizes, as well as bundles and samplers.
The company has also expanded into corporate gifts, and its clients include numerous Fortune 500 businesses.
Who Founded Painted Pretzel?
The Painted Pretzel is the brainchild of Raven Thomas of Scottsdale, Arizona.
She began selling her product (which she made in her kitchen) at local mom-and-pop shops.
She had generated over $60K in sales the year before her visit and was being inundated with inquiries due to the popularity of her things.
When large orders from prominent shops such as Neiman Marcus and SAM’s Club began to come, Thomas decided to promote her firm on Shark Tank in February 2012.
What Happened to Painted Pretzel at the Shark Tank Pitch?
Raven Thomas pitched her proposal to the Sharks, seeking a $100,000 investment in exchange for a 25% share in the firm. This equates to a $400,000 valuation.
She began by promoting her goods and giving the Sharks samples.
Raven then informs the Sharks that, in addition to the money, she is looking for a strategic business partner to help The Painted Pretzel reach its full potential.
Her product is unique and enjoyable, creating a great setting for success.
Kevin O’Leary inquires about the company’s sales, which he determines to be around $75,000 in the previous year (2013).
In addition to the sales she has already made, she has a $64,000 order from last week and a $140,000 in orders that she just did not have the capacity to fulfil. She has been supplying Neiman Marcus and SAM’s Club for quite some time.
Lori Greiner inquires about the cost of manufacturing and how much she charges for the largest container.
Raven usually sells them for $14.50 each, with a production cost of roughly $7.00.
Kevin feels he can reproduce the business and finds no private information.
Lori was put off by Raven’s emotional appeal, in which she emphasized that she wanted to show her children that success comes from chasing one’s dreams.
Raven’s “heart and soul,” as well as the Painted Pretzels, were favourites of Mark Cuban! He offers Raven $100,000 in return for a 25% ownership in the firm, and informs her she may sell them at his movie theatres and sporting events.
Raven happily accepts the offer and, without hesitation, enters into a collaboration with Cuban.
What Happened to Painted Pretzel After the Shark Tank Pitch?
Raven Since her debut, Thomas has worked relentlessly to make The Painted Pretzel a success. She leases a commercial kitchen and outsources large orders to a candy producer. The Pretzels are available at Neiman Marcus, SAM’s Club, and on Amazon.
Google, Saks Fifth Avenue, the New York Yankees, and PayPal are among the many high-profile corporate clients of The Painted Pretzel.
Raven credits Mark Cuban with the company’s success. She would have advanced without Cuban’s support, but she doubts she would have gotten this far.
Thomas is married to retired NFL football star Eric Thomas, a fact that was not revealed on Shark Tank.
In July 2021, the company is still in business. They’re no longer for sale on Amazon.
Because of multiple corporate clients and distribution through Cuban’s Landmark theatres, the business makes over $1 million in annual income.
What is the Net Worth of Painted Pretzel?
Raven Thomas approaches the Sharks with the goal of obtaining a $100,000 investment in return for a 25% ownership in the firm. This implies a valuation of $400,000.
Who are the Competitors of Painted Pretzel?
Pretzel Pizzaz, The Nibble – Gormet Food Magazine, and Sweet Shoppe & Nut House are Painted Pretzel’s competitors.
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Painted Pretzel FAQS
What became of the Painted Pretzel after the Shark Tank?
She leases a commercial kitchen and outsources large orders to a candy producer. The Pretzels are available at Neiman Marcus, SAM’s Club, and on Amazon.
Raven attributed the company’s success to Mark Cuban. They’re no longer for sale on Amazon.
Who founded Painted Pretzel?
Raven Thomas founded Painted Pretzel.
What was the business concept behind the Painted Pretzel?
Raven Thomas enjoys being at home and spending time with her children, but she is not your normal stay-at-home mother.
Being around children all day may be stressful or, at the absolute least, strain one’s nerves.
This is why Raven decided to begin “painting” pretzels. She allowed herself some time to relax in the kitchen while also preparing a tasty treat for the kids to chew on afterwards.
Raven had no clue that her hobby would turn into a highly successful business.
What year was the Painted Pretzel founded?
In 2008, Raven Thomas began selling her chocolate-covered pretzels.
What is the Painted Pretzel?
Chocolate-covered pretzels in three flavours: milk chocolate, white chocolate, and dark chocolate are offered in the Painted Pretzels. Aside from being tasty, they are also pretty distinctive and entertaining to consume.
What the strengths of Painted Pretzel?
The Painted Pretzel’s charm resides in its one-of-a-kindness. It is a one-of-a-kind, delectable dessert that may make people smile and brighten their day.
Did Painted Pretzel secure an investment from the Sharks?
Painted Pretzel made a Sharks presentation and received a $100,000 investment from Mark Cuban in exchange for a 25% ownership in the firm.
What is the Painted Pretzel business model?
The company’s sales plan is based on selling pretzels in major shops such as Neiman Marcus and SAM’s Club.
The Painted Pretzel might also be available in movie theatres, sporting events, and other public places.
How do Painted Pretzel make money?
The major source of revenue for the firm is the sale of chocolate-covered pretzels at stores and other locations.
What are the names of Painted Pretzel’s top-selling products?
The company’s sales concept is built upon chocolate-covered pretzels.
Where can they find Painted Pretzel?
Painted Pretzel chocolate-covered pretzels are available at both Neiman Marcus and SAMS Club.
How much does Painted Pretzel?
Raven usually sells them for $14.50 each, with a production cost of roughly $7.00.
What are weaknesses of Painted Pretzel?
If the Painted Pretzel is not stored properly, it will melt. People who are allergic to chocolate should avoid the pretzels.
Is Painted Pretzel a good investment?
Painted Pretzel is one of the few firms that have received money from Mark Cuban that will still be in business in 2021.
What is the Painted Pretzel background?
Raven Thomas has been working since 2008 to make the Painted Pretzel a success.
Her plan was to begin “painting” pretzels. She allowed herself some time to relax in the kitchen while also preparing a tasty surprise for her children and all of their friends to snack on afterwards.
How do they pay?
Visa, MasterCard, American Express, and Discover are all accepted at The Painted Pretzel.
What is the address of the Painted Pretzel headquarters?
The Painted Pretzel Company’s headquarters are at Nobby Beach, Queensland.
