What Happened to Spoonful of Comfort after Shark Tank Pitch?
What exactly is Spoonful of Comfort?
Spoonful of Comfort is a care box that they may gift to a loved one to let them know they’re thinking about them or to express their best wishes.
It was initially intended as a care package to be delivered to sick loved ones. Its offerings have subsequently expanded to include additional packages such as the Pregnancy Care Package and the Birthday Care Package.
Soups are available in three different flavours: chicken soup, tomato basil soup, and potato leek soup.
Each gourmet gift package contains 64 ounces of soup, six buns, six cookies (chocolate chip, oatmeal raisin, or sugar), a serving ladle, and a handwritten message card.
Customers may supplement the $69 bundle with tea, inspirational literature, blankets, and other goods for an additional charge.
The soup contains flash-frozen gel ice packs. They may refrigerate or freeze it when they get it to keep it fresh for a few days.
Who are the Spoonful of Comfort founders?
Spoonful of Comfort’s CEO and inventor is Marti Wymer. Investor Scott Gustafson ultimately joined her.
Wymer came up with the idea for the firm in October 2007, after discovering that her mother had cancer.
She couldn’t see her mother since she was in Florida with her children and had just come from visiting her mother in New Brunswick, Canada.
She thought about how she might comfort her mother and decided to send her some homemade chicken soup.
Because her mother had always calmed her in this way, she returned the favor. Unfortunately, her mother passed away only 6 weeks afterward.
Wymer started Spoonful of Comfort in memory of her mother, making it easier for individuals to send wonderful gift baskets to loved ones who live far away.
What Happened to Spoonful of Comfort on Shark Tank?
Marti and Scott went on Shark Tank season 8 episode 1 in search of $400,000 for a 10% share in their company. This works out to a $4 million valuation.
They give their pitch and tell their story before serving the Sharks chicken soup and tomato soup.
The Sharks are shocked to learn that each care package costs $69.99 plus $14.99 shipping.
It cost them $18 to acquire a consumer and $31 to make the items when they initially started. They clearly lost all of their margins when they sold it for $35.
Regardless, they achieved $100,000 in sales the previous year.
Barbara departs after learning that another investor had invested $1.3 million in the firm.
Mark also left, noting that he assumed they were in the marketing business, but that they were terrible at it and expected the Sharks to pick up the slack.
Daymond was enthusiastic with the concept. He did, however, feel that their target market was too small and that it would not grow at the current valuation. He went out reluctantly.
Lori appreciates the soup, but she doesn’t see a Spoonful of Comfort becoming large enough to return her investment. She thought Marty and her friend would be able to make it work, but it wasn’t scalable. She stepped outdoors.
Robert believes they’ve been in company for five years and still haven’t had the kinks worked out; he’s quitting.
Kevin was well aware that the customer acquisition cost was at the heart of the issue, but he had no clue how to help them reduce it. As a result, he chose against investing.
After thanking the Sharks for their time, the entrepreneurs fled the stage.
What Happened to Spoonful of Comfort Following Their Shark Tank Pitch?
Following the Tank, this firm underwent various changes. They have expanded their soup options as well as event-based packages (Get Well, Sympathy, New Parent etc.).
There are also baskets for youngsters.
The two businesses appear to have heeded the Sharks’ counsel on scalability.
They unveiled new cookie-only packaging on August 29, 2017.
According to their blog, the cookies are free to ship within two to three days, and consumers may order two to four dozen of any of the four different flavours.
In addition to the box, Spoonful of Comfort contains a handmade note on which you place an advance.
Two packets of the cookies cost a reasonable $19.99.
This industry benefited from the 2020 Covid-19 pandemic. As of May 20, 2021, they have made $68 million in total revenue since appearing on Shark Tank.
What is Spoonful of Comfort’s net worth?
Marti and Scott came on Shark Tank in search of $400,000 in exchange for a 10% ownership in their company. This works out to a $4 million valuation.
The current valuation is clearly greater since the company has developed.
Who are Spoonful of Comfort’s competitors?
Delfoo, Delivery Hero AG., Eat24 LLC, and DoorDash are some of Spoonful of Comfort’s key rivals.
Spoonful of Comfort FAQS
1. What is Spoonful of Comfort?
Spoonful of Comfort is a personal care box that they may send to loved ones as a way of letting them know they’re thinking about them and wishing them well, or as a present to let them know they are special.
2. Where was Spoonful of Comfort founded?
Spoonful of Comfort was founded in 2007 in Florida.
3. Who are the Spoonful of Comfort founders?
Marti Wymer is the founder and CEO of Spoonful of Comfort.
4. Who is Scott Gustafson?
Scott Gustafson is a partner of Spoonful of Comfort.
5. How much were they seeking in the Tank?
Marti and Scott went on Shark Tank in search of $400,000 for a 10% share in the company. This works out to a $4 million valuation.
6. How much did they raise on Shark Tank?
They didn’t raise anything on Shark Tank. They didn’t get any offers, so they left empty-handed.
7. Is Spoonful of Comfort still in business?
Yes, Spoonful of Comfort is still operating as of May 2021.
8. Does Spoonful of Comfort have a website?
Yes, the website address of Spoonful of Comfort is www.Spoonfulofcomfort.com
9. What is the annual revenue for Spoonful of Comfort?
As of May 20, 2021, they have made $68 million in total revenue since appearing on Shark Tank.
10. Who are the competitors of Spoonful of Comfort?
Spoonful of Comfort’s competitors include Delfoo, Delivery Hero AG., Eat24 LLC, and DoorDash.
11. Where are Spoonful of Comfort headquarters?
Spoonful of Comfort is in the Restaurants and Other Eating Places industry and is located in West Valley City, Utah.