Mr. Todd’s Pie Factory Shark Tank Net Worth 2023
Wilson was asking for $460,000 for 10% equity in his company, bringing the valuation to $4.6 million. He ended up accepting an offer from Daymond and Barbara of $460,000 for a 50% stake which brought the valuation to $920,000 although the deal did not close.
Fast-forward to 2022 and Mr. Tod’s Pie Factory is worth an estimated 10 million USD and continues to ship pies nationwide from its website clocking in annual revenue of 12 Million USD – this evidently higher current valuation compared to what Wilson accepted on the Show before the impressive growth of his business.
What is Mr. Todd’s Pie Factory?
Mr. Tod’s Pie Factory offers a selection of comforting foods and warmly welcomes customers who crave homemade treats like cheesecakes, fruit cobblers, and muffins.
Tod Wilson is the founder of Mr. Tod’s Pie Factory. As a child, he dreamed of becoming an FBI agent or lawyer, but later discovered his talent for baking, sales, and business management. After interning at a bakery in high school, he quickly rose through the ranks and became the largest distributor for the bakery before branching out and starting his own business in 2002.
Today, Mr. Tod’s Pies is still at the forefront of the company, delivering delicious pies across the United States through their online store. Tod’s upbringing in New Jersey by a single mother and his experience working at his godfather’s bakery during his adolescence inspired him to become an entrepreneur.
Despite facing financial difficulties and living in his car, Tod was determined to start his own business and even took out a $16,000 bank loan to make it happen. He also chose to symbolize his deep connection to the civil rights movement through his sweet potato pies.
His love for community and pies eventually led to the establishment of a wholesale bakery, which contributed greatly to his success. Today, Mr. Tod’s Pie Factory has a large fan base and is well-known for bringing people together with their delectable array of pies.
What Happened to Mr. Todd’s Pie Factory at the Shark Tank Pitch?
Tod Wilson appeared on the first episode of Shark Tank’s first season with his costumed mascot, Mr. Pie Man, carrying a tray of delicious treats to impress the sharks. Wilson sought $460,000 in exchange for a 10% stake in his company, which was valued at $4.6 million.
During his pitch, Wilson presented his company’s history and highlighted his $850,000 wholesale business and retail sales, which caught the sharks’ attention. He also mentioned the possibility of a significant wholesale deal with McDonald’s, further intriguing the investors.
Despite Mr. Tod’s Pie Factory’s clear success, some sharks opted out of the deal. Robert Herjavec declined due to concerns about Wilson taking shortcuts while expanding too rapidly. Kevin O’Leary, who only sold sweet potato pies, wanted 51% of the company and insisted that the mascot had to go.
He ultimately decided not to invest because he didn’t want to deal with someone who was too emotional and not solely focused on profits.
Kevin Harrington withdrew his offer because he believed the company’s valuation was too high. Barbara Corcoran, however, proposed a deal of $230,000 in exchange for a 20% commission.
Daymond John saw potential in Wilson and the company, noting similarities between their experiences. However, he wanted a 50% stake in the business. After some negotiation, Daymond agreed to partner with Barbara on the condition that Wilson had legitimate orders.
Robert warned Wilson that agreeing to Daymond and Barbara’s offer would result in giving up half of his stake. Wilson carefully considered his options before accepting the offer to give up half of his shares.
What Happened to Mr. Todd’s Pie Factory after the Shark Tank Pitch?
Tod Wilson backed out of the agreement after the show, citing his unwillingness to relinquish too much ownership. However, his appearance on Shark Tank provided much-needed publicity for Mr. Tod’s Pie Factory, which led to a boost in sales.
Jet magazine included Mr. Tod’s pies in its 2009 gift guide, and the pies gained national recognition after being featured on Rachel Ray and Oprah Winfrey’s shows. Country Living magazine also published articles about Mr. Tod’s pies, and he made appearances on major television networks.
With the success of his mobile operation, Wilson expanded his retail business to a larger location. Six years later, the company is still growing, and Wilson aims to establish a national brand that rivals Entenmann’s and Sara Lee.
Mr. Tod’s pies are popular, with two retail outlets and significant wholesale and online sales. Wilson’s new SoHo location is larger than his first retail store, and his mobile business is thriving. He also gives motivational speeches to schools and groups in his hometown of New Jersey, inspiring the next generation of entrepreneurs.
Wilson faced charges of witness tampering in 2017, but the charges were eventually dropped. In March 2019, he filed a lawsuit against the Englewood, New Jersey police department, one month after closing his retail store. The lawsuit alleges that an officer conspired to falsely detain and prosecute Wilson, and the case is still ongoing.
Despite closing his retail store, Wilson continues to sell pies through his website, and his annual revenue is expected to reach $12 million in July 2021.
What is the Net Worth of Mr. Todd’s Pie Factory?
Wilson was asking $460,000 for 10% equity in his company, which bring valuation to be at $4.6 million.
He accepted an offer from Daymond and Barbara of $460,000 for 50% stake which brings valuation to be $920,000 although the deal didn’t close.
The current valuation is evidently higher compared to one he accepted on the Show since the company has grown.
Who are the Competitors of Mr. Todd’s Pie Factory?
There are no competitors identified for Mr. Todd’s Pie Factory.
Mr. Todd’s Pie Factory FAQS
What is Mr. Todd’s Pie Factory?
Mr. Tod’s Pies Factory serves a range of comfort foods and welcomes clients who crave homemade cheesecakes, fruit cobblers, and muffins.
Who is Mr. Tod Wilson?
Mr. Tod Wilson is the founder of Mr. Todd’s Pie Factory, a bakery based in New Jersey that sells sweet potato pies and other baked goods through mail order and retail shops as well as to chain stores.
How much was he seeking in the Shark Tank?
He was asking for $460,000 for 10% equity in his company which would bring the valuation to $4.6 million.
What happened to Mr. Todd’s Pie Factory at the Shark Tank Pitch?
Tod Wilson had walked away from his deal with Daymond John and Barbara Corcoran of $460,000 for 50% stake in business.
Is Mr. Tod’s Pie Factory still in business?
Tod’s Pie Factory in Englewood has permanently closed its doors. Tod Wilson, the owner, will instead concentrate on manufacturing his from-scratch pies for delivery and wholesale exclusively.
His bakery is in Bergen County, where he will continue to create pies for customers.
Why did Mr. Tod’s Pies close?
Wilson shuttered his retail business in Englewood after seven years in February, citing a “tough decision.”
According to the lawsuit, “as a result of the aforementioned conduct, plaintiff’s business, which he owns and operates, has lost large revenues and earnings.”
What happened to the pie guy on Shark Tank?
Mr. Tod, the first entrepreneur to emerge from ABC’s “Shark Tank,” has announced that he will be closing his doors.
Tod Wilson, the proprietor of Mr. Tod’s Pies in Englewood, has announced the closure of his Hudson Avenue location.
When was Mr. Tod’s Pies aired on Shark Tank?
Mr. Tod’s pies appeared on Shark Tank in August 9th, 2009.
Where is Mr. Todd’s Pies Shop?
Tod Wilson’s now-closed pie shop, Mr. Todd’s Pies, is at Englewood, New Jersey.
How can they get a pie from Mr. Tod?
Tod Wilson reports that he still offers pies via his website at www.mrtods.com
When was Mr. Todd’s Pies founded?
Mr. Todd’s Pies was started in 2002 and has since grown to include a retail operation, as well as wholesale and online sales.
What is the net worth of Tod Wilson?
Tod Wilson’s net worth is unavailable.
What happened to Mr. Tod’s Pie Factory?
In a complaint, Tod’s Pie Factory claims that Englewood police and city authorities fraudulently detained him in 2017 and wrecked his business.
Wilson shuttered his retail business in Englewood after seven years in February, citing a “difficult decision.”