What Happened to the Soy-Yer Dough After the Shark Tank Pitch?
What is Soy-Yer Dough?
Soy Yer Dough is a gluten-free, soy and corn-based modeling clay that was created as an alternative to wheat-based play doughs for those who are intolerant to wheat.
It is estimated that up to 6% of the US population suffers from gluten sensitivity, with roughly 1% suffering from the more severe type, Celiac Disease.
Who is the founded Soy-Yer Dough?
Soy Yer Dough was developed by Sawyer Sparks and his wife, Samantha Sparks. Sawyer, a 22-year-old college student, presented the company on Shark Tank Season 1 Episode 7.
He is currently the CEO of YER Brands (formerly Soy Yer Dough), while Samantha remains the production manager.
Sawyer Sparks was studying agricultural economics at Purdue University when he found his professor’s child had celiac disease.
Wheat, among other things, is to blame for the intestinal ailment. This meant she couldn’t play with Play-Doh, which was disappointing for the five-year-old.
Her friends had a terrific time playing with the modelling compound, despite the fact that it contained wheat.
Sawyer then went to his “laboratory” (his mother’s kitchen) and invented the first patented wheat-free modelling dough: soft, colourful, aromatic, and non-toxic.
It is also edible due to the fact that it is made from rice flour. Sawyer, his mother, and his girlfriend transformed the kitchen into a factory and distribution centre as they created, packaged, and shipped Soy-Yer Dough.
What Happened to Soy-Yer Dough During the Shark Tank Pitch?
Sparks made their appearance on Shark Tank season 1 episode 7 in pursuit of a $125,000 investment in return for a 25% ownership in Soy-Yer-Dough. This is equivalent to a $500,000 worth.
Sawyer Sparks shows the Sharks how to make Soy-Yer-Dough.
He tells the Sharks that one out of every eight children has a wheat allergy, and that one-eighth of the sales of the large modelling dough are worth $12 million, indicating a substantial potential market.
The Sharks are thrilled with 8,000 container sales and an additional 11,000 container order. The Sharks want to know if the material is intellectual property protected.
When Sparks adds that he not only has a provisional patent on the product, but that Hasbro, the makers of Play Doh toys, has approached him on many occasions with offers to purchase the Soy-Yer-Dough creation for up to $500,000.
The Sharks have been pulled in. “Why would you want to brew one cup of this rubbish while the most powerful guy in the planet is pounding on your door?” Kevin O’Leary is perplexed.
Instead of selling out to a larger corporation and allowing his product to be manufactured abroad, Sparks wants to keep manufacturing and production in his region and create jobs.
His affection for his birthplace is apparent, yet O’Leary is preoccupied with the economic transaction at hand. Spark’s patent application is “extraordinary,” he says, and he “rarely sees a business possibility like this.”
The sharks are quickly involved in a feeding frenzy. O’Leary is offering $125,000 for 51% of the company.
To sweeten the deal, he promises Sparks that he may withdraw from the investment if O’Leary’s arrangement with Hasbro isn’t satisfactory.
Daymond John accepts O’Leary’s offer and leaves. Kevin Harrington vows to get rid of the junk.
He considers a license specialist, such as Kevin O’Leary, to be an ideal collaborator. Kevin Harrington adds that he is also out and does not want to make an offer because of this.
Despite her distaste for Kevin O’Leary, Barbara Corcoran thinks that he is Sawyer Sparks’ natural partner.
Endorsing Kevin O’Leary is unusual even for Barbara Corcoran. Barbara Corcoran has stated that she is no longer available for interviews.
The two surviving Sharks are Robert Herjavec and Kevin O’Leary. According to O’Leary, his expertise is worth 51%. Herjavec jumps into the fight with his own offer. $125,000 for a 40% stake in the company
O’Leary wants authority, and Sparks wants his knowledge, but O’Leary is reluctant to give up his ownership stake.
In partnership with O’Leary, Daymond John comes to the table and offers an extra $200,000 in collaboration.
Herjavec takes the floor, suggesting to join O’Leary’s request for an additional $100,000.
O’Leary tweaks the concept somewhat, giving $100,000 to each of the three investors in exchange for a $300,000 purchase of 51% of Soy-Yer-Dough. Sparks concurs. Soy-Yer Dough was approved by the Sharks and exited the Tank.
What Happened to the Soy-Yer Dough After the Shark Tank Pitch?
After the arrangement with the three Sharks fell through, Sparks re-entered talks with Hasbro.
He intends to develop sales before attempting to sell the concept to a large toy company.
His plan to close a significant deal while concurrently negotiating for new jobs in the United States looks to be larger than life, yet it is becoming a reality.
Because the product contains no soy, the name was changed to “Yer Dough” to avoid confusion.
He was never able to negotiate an arrangement with Hasbro. The company was profitable for ten years.
In May 2020, Sustainable Projects Group paid an undisclosed sum for it.
What is the Net Worth of Soy-Yer Dough?
Soy-Yer Dough net worth estimated $750,000 as of 2021.
Who are the Competitors of Soy-Yer Dough?
Soy-Yer Dough’s opponent is Hasbro.
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Soy-Yer Dough FAQS
What is Soy-Yer Dough?
Soy-Yer Dough is a soy-based modeling compound. It comes in a variety of colors, such as pink and yellow. Each box contains eight ounces.
Is Soy-Yer Dough safe for children?
Yes, it is safe for children. However, children should play with it under adult supervision.
Where can they buy this product?
They can purchase this product from the Company website.
Is Soy-Yer Dough gluten free?
No, it is derived from wheat.
Is Soy-Yer Dough aliphat, or non-GMO?
It is all natural ingredients.
Who founded Soy-Yer Dough?
Soy Yer Dough was founded by Sawyer Sparks and his wife, Samantha Sparks. Sawyer.
How much was Sawyer Sparks and his wife, Samantha Sparks seeking in the Tank?
Sawyer was seeking $125,000 for 25% of the company.
How much is the deal?
The three investors invested $300,000 into Soy-Yer Dough in exchange for a 51% ownership stake in the firm.
What happened to Soy-Yer Dough after the Shark Tank?
After the arrangement with the three Sharks fell through, Sparks re-entered talks with Hasbro.
Is Soy-Yer Dough still in business?
In May 2020, Sustainable Projects Group paid an undisclosed sum for it.
