Jones Scones Shark Tank Net Worth 2023
Jones Scones appeared on Shark Tank in May 2013, where founder J. Jones pitched his cream scones to the Sharks. He was seeking a $100,000 investment in exchange for 25% equity in his company, giving a valuation of $400,000.
Although Daymond John liked Jones as a person, he did not like the scones and was out of the deal. Robert Herjavec was unimpressed by the decline in sales over the past three years and wanted to know how Jones would turn things around. Mark Cuban called Jones’s response “bull crap” and also declined to invest.
Despite not securing an investment from the Sharks, Jones Scones experienced tremendous growth and success after appearing on Shark Tank.
They secured additional funding and partnerships, leading to an estimated net worth of $5 million USD as of 2023.
However, it is unclear why Jones Scones shut its doors as there doesn’t appear to be any reliable information available.
What is Jones Scones? Who is the Founder of Jones Scones?
Jones Scones is a brand that specializes in scones with a rich, creamy texture, almost like a cake. The brand is based in Denver and offers a variety of flavors, including blueberry, cranberry cream, and chocolate chip.
These scones are made with natural ingredients and can be found in Whole Foods stores and small shops in Colorado, New Mexico, and Kansas. A pack of four scones is priced at $9.99.
The founder of Jones Scones is J. Jones, a Denver native and entrepreneur. Although he initially pursued a law degree, he eventually decided to focus on his passion for creating delicious scones full-time as the brand’s popularity grew. Jones takes pride in his company and hopes to embody his values of love and kindness in his products.
Jones Scones originated from J. Jones’ love for scones during his time living in England and Scotland. While he enjoyed the taste, he found the texture to be too biscuit-like for his liking.
To create an alternative, he developed a scone with a creamy, cake-like feel. After receiving positive feedback from friends and family in Denver, he decided to launch the brand.
Jones is committed to the success of Jones Scones, and after overcoming colon cancer, he is even more dedicated to sharing his passion and hard work with the world.
Jones Scones Shark Tank Pitch
Jones made an appearance on Season 4 Episode 26 of Shark Tank, seeking a $100,000 investment in exchange for a 25% stake in his company, which valued the company at $400,000.
Jones discovered English scones during a trip to England and was so inspired by them that he dropped out of law school to pursue a career in baking.
His scones became well-known and were distributed through six Whole Foods stores, generating a monthly revenue of $5,000.
However, a mistake made by a co-packer caused a significant drop in revenue, reducing it from $113,000 per month. Although Whole Foods is willing to reintroduce the product line, Jones needs funding to restore the brand.
During the Shark Tank pitch, Daymond John described Jones as a pleasant person but did not like the scones and dropped out.
Robert Herjavec was unimpressed with the three-year drop and asked Jones about his plan to turn things around. Jones responded that he had an excellent team, which Mark Cuban and Herjavec disagreed with, calling it “bull crap.”
Lori Greiner also expressed concern about the lack of progress in the company over ten years and dropped out. Herjavec also declined to invest due to a lack of time.
Kevin O’Leary argued that the investment opportunity was not about the scones, but about money, and he could not see a way to make any, so he dropped out too.
In the end, only Mark Cuban remained interested in investing, but Jones left the Shark Tank without securing any investment. Later, Jones found a new co-packer closer to him and continued to sell his scones, gaining traction in the market.
However, in the second half of 2018, Jones closed his business after 20 years and returned to practicing law.
What is Net Worth of Jones Scones?
J. Jones appeared on Shark Tank in search of a $100,000 investment in exchange for a 25% stake in his company. This equates to a $400,000 valuation.
Who are the Competitors of Jones Scones?
There are competitors identified for Jones Scones.
Jones Scones FAQS
What is Jones Scones?
Jones Scones is a scone company with a rich, cake-like texture. Jones Scones are available in flavours like blueberry, cranberry cream, and chocolate chip.
Who is the founder behind Jones Scones?
Jones is the man behind Jones Scones.
How much was he seeking in the Shark Tank?
Jones was seeking $100,000 in exchange for a 25% stake in the company. This equates to a $400,000 valuation.
Did he get the deal from the Sharks?
No. The Sharks all declined to offer him a deal.
Is Jones Scones still in business?
J returned to his law practice. He originally planned to do “scones by day, law by night,” but we don’t know what he’s up to today. Jones Scones is no longer in operation.
How much was Jones Scones sold for?
A four-pack of scones costs $9.99 online and at retailers like Whole Foods.
When was Is Jones Scones aired on Shark Tank?
- Jones appeared on Shark Tank Season 4 Episode 26 on May 17th, 2013.
When did Jones Scones go out of business?
Jones Scones closed in 2018.
Where is J. Jones now?
J returned to his law practice. He originally planned to do “scones by day, law by night,” but they don’t know what he’s up to today.
Where was Jones Scones located?
Jones Scones was located in Denver, Colorado.
What was ingredients of Jones Scones?
The ingredients of Jones Scones included wheat flour, butter, eggs, cream cheese, and a starch.
Where can they learn more about Jones Scones today?
They can visit Shark Tank season 4 episode 26.
Were Jones Scones ingredients natural?
Yes. The ingredients were entirely natural and safe.
What was Jones Scones’s revenue?
Jones Scones had a monthly revenue of $113,000 when they appeared on Shark Tank. This number has dropped by almost 50% after making a mistake with their co-packer.
What were the flavours Jones Scones?
The flavours of Jones Scones included blueberry, cranberry cream, and chocolate chip.
What is the net worth of J. Jones?
- Jones’s net worth is unavailable.
Where was J. Jones sold?
Jones Scones were sold online and in Whole Foods.
Are Jones Scones still available today?
No. Jones Scones are no longer available. J returned to his legal career, and the company has been closed.