Painted Pretzel Shark Tank Net Worth 2023
Raven Thomas has been invited to the Shark Tank show in search of a generous $100,000 investment for a 25% stake in her company.
By embracing this opportunity and taking on this unmissable investment, she is furthering the growth of her company whilst valuing it at an impressive $400,000 valuation.
Fast-forward to July 2023 – and not only is her company still up and running; it is also thriving under her capable leadership.
What is Painted Pretzel?
The Painted Pretzel offers one-of-a-kind and high-quality chocolate-covered pretzel treats that can be purchased both online and in their physical store. Customers can choose from various flavors and sizes, including pretzel knots, pretzel rods, pretzel bark, and pretzel turtles. The company also offers bundles and samplers.
The Painted Pretzel has expanded to cater to corporate gift-giving, and their impressive client list includes multiple Fortune 500 companies.
Raven Thomas, hailing from Scottsdale, Arizona, is the founder of The Painted Pretzel. She started by selling her homemade treats in local small businesses and earned over $60,000 in sales the previous year due to the popularity of her product.
As large orders from notable retailers such as Neiman Marcus and SAM’s Club began to pour in, Thomas decided to present her company on the TV show Shark Tank in February 2012.
What happen to Painted Pretzel at the Shark Tank Pitch?
Raven Thomas presented her idea to the Sharks, offering them a 25% stake in her company in exchange for a $100,000 investment, which valued her company at $400,000. To start, she shared information about her product and handed out samples to the Sharks.
Raven also expressed her desire for a strategic business partner who could help take her company, The Painted Pretzel, to its full potential. Her unique and enjoyable product had great potential for success.
During the presentation, Kevin O’Leary asked about the company’s revenue, which was approximately $75,000 in the previous year (2013).
Raven informed the Sharks that she had received an order worth $64,000 the previous week and had a backlog of $140,000 in orders that she was unable to fulfill due to resource constraints. She had been supplying her product to retailers such as Neiman Marcus and SAM’s Club.
Lori Greiner asked about the price of the largest container and the cost of manufacturing. Raven replied that she typically sold the containers for $14.50 each, with a production cost of around $7.00 per container.
Kevin O’Leary believed that the business could be easily replicated, and he did not see anything proprietary about it. However, Mark Cuban appreciated Raven’s “heart and soul” and her Painted Pretzels.
He decided to invest $100,000 for a 25% stake in the company and offered Raven the opportunity to sell her products at his movie theaters and sports venues.
Raven was delighted to accept the offer and entered into a partnership with Cuban without hesitation, eager to show her children that pursuing one’s ambitions could lead to success.
Painted Pretzel after the Shark Tank Pitch?
Raven Thomas has worked tirelessly to ensure the success of The Painted Pretzel since its inception. She rents commercial kitchen space and outsources large orders to a confectionery manufacturer.
The Painted Pretzel is available at several high-end retailers, including Neiman Marcus and SAM’s Club, as well as on Amazon. The company has a long list of notable corporate clients, such as Google, Saks Fifth Avenue, the New York Yankees, and PayPal.
Raven credits Mark Cuban with contributing to the company’s success. While she believes she would have made progress without Cuban’s funding, she is uncertain if she would have achieved the same level of success.
Although Raven is married to retired NFL player Eric Thomas, this was not mentioned on Shark Tank.
As of July 2021, The Painted Pretzel is still in business but is no longer available on Amazon. The company generates over $1 million in annual revenue, thanks to its corporate clients and distribution through Cuban’s Landmark cinemas.
Painted Pretzel Net Worth?
Raven Thomas enters Sharks looking for a $100,000 investment in exchange for a 25% stake in the company. This represents a $400,000 value.
Painted Pretzel Competitors
Painted Pretzel’s competitors are as follows Pretzel Pizzaz, The Nibble – Gormet Food Magazine and Sweet Shoppe & Nut House.
Painted Pretzel FAQS
What became of the Painted Pretzel after the Shark Tank?
She rents commercial kitchen space and outsources huge orders to a confectionery manufacturer. The Pretzels may be found at Neiman Marcus and SAM’s Club, as well as on Amazon.
Raven attributes the success of the company to Mark Cuban. They are no longer available on Amazon.
Who founded Painted Pretzel?
Raven Thomas founded Painted Pretzel.
What was the business concept behind the Painted Pretzel?
Raven Thomas is a lady who likes being at home and spending time with her children, but she is not their typical stay-at-home mom.
Being around children all day may become stressful, or at the very least fray a person’s nerves.
This is precisely why Raven decided to start “painting” pretzels. By doing so, she gave herself some time to relax in the kitchen while also producing a pleasant little treat for the kids to nibble on afterwards.
Raven had no idea that her pastime would evolve into a very successful company.
What year was the Painted Pretzel founded?
Raven Thomas began selling her chocolate-covered pretzels in 2008.
How much is Painted Pretzel worth today?
The company generated over $1 million in annual sales as of July 2021 but there is no update for net worth.
What is the Painted Pretzel?
The Painted Pretzels are chocolate-covered pretzels available in three flavours: milk chocolate, white chocolate and dark chocolate. Besides being delicious, they are also quite unique and fun to eat.
What the strengths of Painted Pretzel?
The beauty of The Painted Pretzel lies in its uniqueness. It is a unique, delicious treat that can get people to smile and lighten up their day.
Did Painted Pretzel secure an investment from the Sharks?
Painted Pretzel pitched to the Sharks and secured a $100,000 investment from Mark Cuban in exchange for a 25% stake in the company.
What is the Painted Pretzel business model?
The company’s sales model is built around selling their pretzels at several large retailers that include Neiman Marcus and SAM’s Club.
The Painted Pretzel could also be offered at movie theaters, sports venues, and other public areas.
How do Painted Pretzel make money?
The company’s main source of revenue is selling their chocolate-covered pretzels at retailers and other venues.
What are the names of Painted Pretzel’s top-selling products?
The company’s chocolate-covered pretzels are the backbone of its sales model.
Where can they find Painted Pretzel?
They can buy Painted Pretzel chocolate-covered pretzels at both Neimans Marcus and SAMS Club.
How much does Painted Pretzel?
Raven typically sells them for $14.50 apiece, with a production cost of around $7.00 each.
What are weaknesses of Painted Pretzel?
If the Painted Pretzel is not carefully stored, it will melt. The Pretzels are not suitable for people who are allergic to chocolate.
Is Painted Pretzel a good investment?
Painted Pretzel is one of the few companies who have managed to secure funding from Mark Cuban and are still operational in 2021.
What is the Painted Pretzel background?
Raven Thomas has been working to make the Painted Pretzel a success since 2008.
Her idea was to start “painting” pretzels. By doing so, she gave herself some time to relax in the kitchen while also producing a pleasant little treat for her children and all of their friends to nibble on afterwards.
How do they pay?
The Painted Pretzel accepts major credit cards including Visa, MasterCard, American Express, and Discover.
What is the Painted Pretzel headquarters?
The Painted Pretzel’s headquarters is located in Nobby Beach, Queensland
How many employees does The Painted Pretzel have?
The Painted Pretzel has 45 employees.
