What Happened to Smart Baker after Shark Tank Pitch?
What exactly is Smart Baker?
Smart Baker is known for its unique and functional culinary devices.
The company is well-known for their folding cupcake stands, which can hold up to 100 cupcakes and fold flat when not in use.
These cupcake stands are also flexible, allowing users to tailor their arrangement to the number of treats they intend to sell.
The Smart Baker has also provided us with pre-cut parchment paper, which customers may have in round or rectangular forms depending on the molds they want to use.
These highly handy pre-cut sheets have tabs on the edges that you may use to remove your finished cake from the mold.
The Smart Baker is particularly well-known for its cheat sheet aprons, which include important measurement and conversion tables. These aprons will keep you safe from spills, stains, and miscalculations.
Who is the creators of Smart Baker?
Daniel and Stephanie Rensing, a husband and wife duo, own The Smart Baker. Daniel studied computer graphics design and worked as a pioneer in the field.
The Smart Baker was founded by Daniel and his wife Stephanie, an art teacher with degrees in both art history and art education.
Both of them continue to run The Smart Baker. They also provide a range of baking materials on their website.
What Happened to Smart Baker during the Shark Tank?
Daniel and Stephanie appeared on Shark Tank season 3 episode 7 looking for $75,000 in return for a 25% share in their firm. This equates to a $300,000 valuation.
They provide an overview of their business.
They have made around $72,000 in total sales, but only approximately $33,000 in the previous three months.
They anticipate making $140,000 by the end of the year, with around $100,000 coming to them.
The majority of their sales come from their website and select specialty baking stores.
They’re looking for a Shark investment to help them expand their distribution and build their company.
Mark feels he’d hold them back, therefore he’s out, despite his affection for the industry.
O’Leary believes they have a good idea, but he does not believe there is “enough meat on the bones” or that there is enough profit to be made. As a result, he declines to make them an offer as well.
Because he is inexperienced with the baking and culinary industries, Robert Herjavec does not believe he would be a smart investment.
Despite the fact that he would not be a partner, he admits that he likes their concept so much that he would definitely become a client of theirs, and he’s out.
Daymond offers $75,000 in exchange for a 40% share in the firm. Barbara proposes a “Daisy Cake Deal,” paying $75,000 in return for 40% and a 5% royalty until she is paid back.
When Daniel proposes it, Barbara refuses to raise her offer to $100,000.
Daniel and Stephanie agree to join Barbara, and they leave the Tank with a new Smart Baker partner.
What Happened to Smart Baker Following its Shark Tank Pitch?
Stephanie was given a new teaching post after the episode. Daniel kept working on the Smart Baker, but the Barbara transaction never came to fruition.
Barbara was concerned about the expense of the cupcake towers after meeting with her “people,” and she wanted to develop a more affordable product.
After being unable to agree on terms, the Rensings and Barbara parted ways amicably.
Daniel has continued to build his firm despite the fact that the transaction did not go through.
They witnessed a large boost in sales as a result of the event, and the exposure opened other doors.
They’re attempting to sell parchment paper to “the Reynolds Wraps of the world,” and their website has been completely redesigned.
Just before the 2012 Christmas shopping season, Daniel delivered SIX TONS of items to an Amazon distributor.
Sales increase for Christmas, Mother’s Day, and other gift-giving holidays.
The company’s revenues have remained consistent over the years. As of July 2021, annual revenue is $1 million.
What is Smart Baker’s Net Worth?
Daniel and Stephanie appeared on Shark Tank season 3 episode 7 looking for $75,000 in return for a 25% share in their firm. This equates to a $300,000 valuation.
They accepted Barbara’s offer of $75,000 in return for 40% and a 5% royalty until she is paid back, bringing the price to $187,500.
The current valuation is clearly greater since the company has developed.
Who are Smart Baker’s Competitors?
Smart Baker does not have any competition.
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Smart Baker FAQS
1. Who is Smart Bakery?
Smart Baker is a Company known for its unique and functional culinary devices. The company is well-known for their folding cupcake stands, which can hold up to 100 cupcakes and fold flat when not in use.
2. Where is Smart Baker?
Smart Baker is based in Rockledge, Florida, United States.
3. What is The Smart Baker’s revenue?
As of July 2021, the Company’s annual revenue is $1 million.
4. Who founded Smart Baker?
Daniel and Stephanie Rensing, a husband and wife duo, founded the Smart Baker.
5. What is their profession?
Daniel studied computer graphics design and worked as a pioneer in the field. Stephanie is an art teacher with degrees in both art history and art education.
6. How did they do on the Shark Tank?
Daniel and Stephanie appeared on Shark Tank season 3 episode 7 looking for $75,000 in return for a 25% share in their firm. This equates to a $300,000 valuation.
7. Did they secure a deal from the Sharks?
They accepted Barbara’s offer of $75,000 in return for 40% and a 5% royalty until she is paid back, bringing the valuation to be $187,500.
8. What Happened to Smart Baker after Shark Tank?
Stephanie was given a new teaching post after the episode. Daniel kept working on the Smart Baker, but the Barbara transaction never came to fruition.
9. When was Smart Baker aired on Shark Tank?
Smart Baker was aired on Shark Tank, season 3, episode 7 on March 2, 2012.
10. What is the website address for Smart Baker?
Their website is www.thesmartbaker.com
11. Where can they buy?
They can be purchased on their website and on amazon.
12. What is the net worth of Daniel Rensing?
Daniel Rensing net worth is $14 Million as of 2022.
13. What is the net worth of Stephanie Rensing?
Stephanie Rensing net worth is $600,000 as of 2022.
