Press Waffle Shark Tank Net Worth

During the pitch, the company was valued at $2.5 million (net worth). However, after Barbara Corcoran invested in the company, its value was adjusted to $2 million. Since then, the company has been generating sales and expanding its business operations, resulting in a steady increase in its net worth. As a result of this growth, the current value of the company is now higher than the initial valuation presented on the show.

What is Press Waffle? Who is the founder of Press Waffle?

Press Waffle is a company based in Dallas, Texas that specializes in customized Belgian waffles, as well as locally roasted coffee, espresso, and cold brew.

Founded by two brothers, Bryan and Caleb Lewis, who had no prior experience in the food industry, the company has expanded from a food truck to three food mall locations in Texas and a fourth in Oklahoma City.

Bryan discovered Belgian waffles while traveling with his then-fiancée (now wife) in the summer of 2013, but when they returned to Dallas, they were unable to find them. So, Bryan started experimenting in the kitchen until he created his own recipe for Belgian waffles.

Press Waffle’s menu includes sweet waffles with toppings such as Nutella, chocolate, and caramel, as well as savory options like chicken and waffles and waffles with melted cheese and bacon.

One unique aspect of Belgian waffles and Press Waffle is that they are made from dough instead of batter, which sets them apart from other types of waffles in the United States.

In 2016, the Lewis brothers launched their waffle-themed food truck in the Dallas area after raising $15,150 on Kickstarter. Since then, they have opened three more brick-and-mortar stores, with plans for franchising and expanding to more locations.

Press Waffle is a family-owned and operated franchise concept that serves amazing waffles for breakfast, lunch, or dessert. The Lewis brothers have introduced a new way of enjoying waffles to America with their delicious and customizable Belgian waffles.

Press Waffle Shark Tank Pitch

Brothers Caleb and Bryan pitched their franchise operation on Shark Tank Season 10 Episode 17 to seek assistance in expanding their company. They requested $200,000 in exchange for 8% of their company, which was valued at $2.5 million.

They impressed the Sharks with their story and waffle samples. Their revenue was $900,000, which is impressive for the restaurant industry.

The bidding started when Mark Cuban made an offer of $350,000 for 20% ownership of the company, which was more than what the brothers were offering.

Barbara Corcoran also expressed her admiration for the brothers and offered two proposals: $200,000 for 15% equity or $400,000 for 30% ownership of the company. Kevin O’Leary offered a $200,000 straight-up loan with a 7%-11% interest rate for 3% equity and promised to provide additional funding.

Lori Greiner preferred Kevin’s offer and encouraged the brothers to accept it. Robert Herjavec made an offer of $600,000 but lowered it to $400,000 for 20% equity after the brothers stated they wouldn’t go over a 20% stake.

Barbara Corcoran came back with a $250,000 offer for 15% equity, but the brothers didn’t accept. Finally, they accepted Barbara Corcoran’s offer of $300,000 for 15% equity and left the pitch with a deal.

What happened to Press Waffle after Shark Tank?

After the show aired, they received over 400 eligible franchise leads and aimed to find 10 new franchisees for the year. They completed the deal with Barbara and planned to open a fourth location by June 2019. They received another 200 qualifying franchise leads, and as of December 2020, they had seven outlets.

Expansion plans in 2020 were postponed, but they announced the opening of their eighth location in The Woodlands, Texas by the end of 2020. In 2021, they planned to open new stores in Houston, Dallas, Little Rock, St. Louis, and Arizona.

In December 2021, they announced their plan to establish a site in Denver, Colorado in the spring of 2022.

Competitors of Press Waffle

Press Waffle Company has a primary competitor like Big Mo’s Gourmet Waffles.

 

Net Worth Press Waffle

The company valuation was $2.5 million during the pitch, after Barbara Corcoran invested the company valued at $2 million. Since the company have been selling and hence the company net worth has elevated.

Press Waffle FAQS

What is Press Waffle?

Press Waffle is an Austin-based food truck that specializes in Belgian-style waffles with a variety of toppings.

Who owns Press Waffle?

Press Waffle was founded by Caleb Lewis and his older brother Bryan Lewis in 2015.

What is the business model of Press Waffle?

Their business model is franchising.

How much were asking on Shark Tank?

They were seeking for $300,000 for 8% stake of their company.

Did they have the deal?

Yes, they got a deal from Barbara Corcoran.

How much was the deal?

Barbara Corcoran offered $300,000 for 15% ownership of the company.

Is Press Waffle still in business?

Yes, they have established eight outlets and plan to open eight more locations in the near future.

Does Press waffle ship?

Yes, they ship their products.

How many press waffle restaurants are there?

20+ restaurants, various bars, an onsite brewery, and an outdoor performance venue are all housed in one fantastic location. Experience the greatest waffles in Plano, TX by joining them for the perfect weekend brunch or late-night dessert!

How much do press waffles cost?

The menu prices at Press Waffle Co. The Elvis (Sweet Waffles) is $8, the Chicken & Waffles (Savory Waffles) is $9, and the American (Savory Waffles) is $9.

What is the procedure for making waffle Raffles?

A winner is chosen at random and will be contacted by the vendor. The money from the sale is sent to the seller after the transaction is confirmed.

Is it possible to get gluten-free Press waffles?

They are currently unable to provide gluten-free solutions.

How much capital is required to operate a Waffle House?

The franchise cost for Waffle House ranges from $200,000 to $300,000. The total cost can range between $600,000 and $1,000,000, depending on the place, restaurant size, and other beginning costs. Take our franchise questionnaire to see whether Waffle House is the best fit for them.

Is the waffle business profitable?

It is, indeed, lucrative. Their knowledge and experience will assist their generating money.

Is it legal to eat waffles on Facebook?

Unfortunately, Facebook does not provide a means to report them other than through the person’s or pages content. So is, if customers are blocked before they accomplish that, they will be unable to do anything. As a result, it’s preferable to just report them on Facebook.

What exactly is Belgian pearl sugar?

Pearl sugar, sometimes known as nib sugar, is a specialty sugar that is popular in Europe. Sugar crystals are crushed into bigger sugar particles that will not dissolve in baked products. Belgian pearl sugar is primarily used in the preparation of Belgian Liege Waffles.

What is the net worth of Caleb Lewis?

The net worth of Caleb Lewis is estimated at $1.5 million.

What is the net worth of Bryan Lewis?

The net worth of Bryan is estimated at $1.96 million.