Shark Tank Update
Shark Tank Pitch
The Smart Baker Shark Tank Update
Published:
3m
Rockledge, FL
| Name | The Smart Baker |
|---|---|
| Main Presenters | Daniel Rensing and Stephanie Rensing |
| Presenter Image | |
| Product Image | |
| Last Known in Business | 3/2/2012 |
| Main Location | Rockledge, FL Loading Map |
| Order Shown in Episode | 2 |
| Final Deal | Offer made from sharks |
The Smart Baker Shark Tank Pitch
Daniel Rensing and Stephanie Rensing created a kitchen accessory company called The Smart Baker. Products include the Cheat Sheet Kitchen Apron, which has cooking measuring scales listed upside down on an apron for easy visual access, circle parchment sheets with lift tabs, and a cupcake stand.
The Smart Baker has done $72k in revenue all-time, of which $34k has come in the last three months. Daniel and Stephanie project $140k of revenue for the year with $100k profit before paying themselves.
Daniel works on The Smart Baker full-time, and Stephanie just lost her elementary school art teacher job, so she will also be full-time moving forward.
After three sharks drop out, Daymond gives an out-of-the-blue offer which Daniel responds: "are there any other offers"? Now that's not very kind to Daymond but Barbara did step in and close a deal.
That was so exciting!
Offers
| Made By | Label | Sharks Part of Deal | Summary |
|---|---|---|---|
| Company | Offered | $75k for 25% of Company | |
| Sharks | Out | Mark Cuban | Out |
| Sharks | Out | Kevin O'Leary | Out |
| Sharks | Out | Robert Herjavec | Out |
| Sharks | Offered | Daymond John | $75k for 40% of Company |
| Sharks | Deal Never Closed | Barbara Corcoran | $75k for 40% of Company and a 5% royalty to Barbara until $75k recouped |
| Company | Offered | Barbara Corcoran | $100k for 40% of Company and a 5% royalty to Barbara until $100k recouped |
Mark Cuban
Out
Daymond John
Offered
Kevin O'Leary
Out
Barbara Corcoran
Offered
Robert Herjavec
Out
Updates in Shark Tank Episodes
| Update Season | Update Episode |
|---|---|
| No Episode Updates | |
The Smart Baker After Shark Tank
According to Shark Tank Blog https://www.sharktankblog.com/business/the-smart-baker https://www.practicalecommerce.com/Lessons-Learned-Baking-Site-Says-No-to-Shark-Tank and an article here Link Preview
Shark Tank Blog , Barbara communicated through lawyers that she wanted to lower the price and quality of the cupcake stand and put it in every Walmart, while Daniel Rensing felt that would weaken the brand, and the deal fell through. Though Daniel was disappointed, there were no hard feelings.Link Preview
here
In around 2008, Daniel used his degree in computer graphic design to start a printing company called DG Design and Print, and Daniel had a warehouse full of machines at his disposal.
In 2009 Stephanie had a baking blog, and Daniel made an apron with the upsidedown measuring scales as a gift. Daniel put the apron on sale on Etsy, and it quickly got picked up by Food Network and became a hit.
The Smart Baker received a bump in sales after Shark Tank but not quite to the tune Daniel hoped for. Revenue the following year was $500k, and in 2014 was just under $2 million.
Daniel has always focused on his website and was able to keep it online for the initial airing and has since worked on its design and tried out various advertising methods.
Daniel hired a few employees to help manufacture products in his Rockledge, Florida facility. He also outsources work with a factory in China to offload the pressure.
Jo-Ann Fabrics was a more accommodable fit than Walmart and in 2015 cupcake stands were in about 500 stores.
Stephanie Rensing got a new teaching job two days after filming, but in 2018 she left to spend time raising her daughter and working for The Smart Baker.
Their website is thesmartbaker.com https://thesmartbaker.com https://www.etsy.com/shop/AllCustomGifts and in 2022, sell pretty much the same products that Danial and Stephanie pitched on Shark Tank ten years prior. Danial also runs his Etsy shop, AllCustomGifts Link Preview
thesmartbaker.com .Link Preview
AllCustomGifts
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