Soy-Yer Dough Shark Tank Net Worth 2023
In May of 2020, Soy-Yer Dough was purchased by Sustainable Projects Group for an undisclosed amount. As of 2021, the company has an estimated net worth of $750k.
Founded in 2020, Soy-Yer Dough has seen rapid success with its all natural vegan doughnuts, offering a delicious pastry without sacrificing environmental sustainability.
The company strives to minimize its environmental footprint and support local farmers by sourcing organic ingredients, while maintaining a commitment to provide jobs that offer living wages and benefits.
What is Soy-Yer Dough?
Soy Yer Dough is a type of modelling clay that is made from soy and corn and is gluten-free. It was developed as a substitute for wheat-based play doughs for individuals who are allergic to wheat.
It is estimated that up to 6% of the United States population experiences some degree of gluten sensitivity, with around 1% experiencing the more severe form, Celiac Disease.
Sawyer Sparks and his wife, Samantha Sparks, founded Soy Yer Dough. Sawyer proposed the idea on Shark Tank Season 1 Episode 7 when he was a 22-year-old college student. He currently serves as the CEO of YER Brands (formerly Soy Yer Dough), while Samantha is still a part of the team as the production manager.
Sawyer Sparks was a student of agricultural economics at Purdue University when he learned that his professor’s child had celiac disease. The child was unable to play with Play-Doh, which contained wheat and could trigger the disease. While her friends enjoyed playing with the modelling compound, she couldn’t join in on the fun.
Motivated by the child’s predicament, Sawyer developed the first patented wheat-free modelling dough, which was soft, colourful, fragrant, and non-toxic. It is also edible because it is made from rice flour. Sawyer, his mother, and his girlfriend turned their kitchen into a production and distribution hub, preparing, packing, and delivering Soy Yer Dough.
What happened to Soy-Yer Dough at the Shark Tank Pitch?
Sawyer Sparks appeared on season 1 episode 7 of Shark Tank in hopes of securing a $125,000 investment for a 25% stake in his product, Soy-Yer-Dough, which he valued at $500,000.
Sparks demonstrated the product to the Sharks and explained that Soy-Yer-Dough was aimed at the sizable potential market of children with wheat allergies. He also mentioned that he had a provisional patent on the product and that Hasbro had approached him with acquisition offers in the past.
The Sharks were impressed with the sales numbers, with 8,000 containers sold and an order for an additional 11,000 containers. They inquired about intellectual property protection, which Sparks confirmed he had.
However, some Sharks were skeptical of Sparks’ decision to maintain manufacturing and production in his hometown, instead of selling out to a larger firm.
Kevin O’Leary made an offer of $125,000 for 51% of the company, with the caveat that Sparks could back out of the deal if he was unhappy with O’Leary’s agreement with Hasbro.
Daymond John supported O’Leary’s offer and Kevin Harrington declined to make an offer. Barbara Corcoran, despite disliking O’Leary, believed he was the natural partner for Sparks.
Robert Herjavec made an offer of $125,000 for 40% of the company, causing O’Leary to adjust his offer and propose a joint investment with John for an additional $200,000. Herjavec then proposed joining O’Leary’s offer for an additional $100,000.
Eventually, O’Leary revised the proposal to offer each investor $100,000 for a total investment of $300,000 for 51% of Soy-Yer-Dough. Sparks agreed, and the deal was accepted by the Sharks.
Soy-Yer Dough after the Shark Tank Pitch?
After the deal with the three Sharks failed, Sparks resumed discussions with Hasbro. His plan was to generate sales before attempting to sell the invention to a large toy company.
Although his vision of closing a big deal and creating new jobs in the United States seemed ambitious, it became a reality.
To avoid any confusion regarding the product’s ingredients, they changed the name to “Yer Dough” as it contained no soy.
Despite negotiating with Hasbro, Sparks was unable to reach an agreement. However, his company remained profitable for a decade. In May 2020, the Sustainable Projects Group acquired the company for an undisclosed amount.
Soy-Yer Dough Net Worth
Soy-Yer Dough net worth estimated $750k as of 2021.
Soy-Yer Dough Competitors
Hasbro is a competitor of Soy-Yer Dough.
Soy-Yer Dough FAQS
What is Soy-Yer Dough?
YER Clay is a gluten-free, non-toxic, and non-allergenic modelling dough that is suitable for all ages. It is the most popular option for youngsters with allergies.
Yer Dough contains no gluten, wheat flour or goods, peanuts/tree nuts, milk or dairy products, borax, latex, kerosene, egg, or natural fruit/veggie products.
Where is Soy-Yer Dough manufactured?
Soy-Yer Dough uses rice flour in its manufacturing process, located in Indiana.
Who Founded Soy-Yer Dough?
Sawyer Sparks and his wife, Samantha Sparks, co-founded Soy Yer Dough.
How much was he asking in the Shark Tank?
Sparks asked for $125,000 in exchange for a 25% stake in the firm.
Did he get the deal from the Shark Tank?
Yes, Kevin O’Leary, Daymond John and Robert Herjavec invested in Soy-Yer Dough.
How much was the deal?
The three investors invested $300,000 into Soy-Yer Dough in exchange for a 51% ownership stake in the firm.
Is Soy-Yer Dough still in business?
Yes, Soy-Yer Dough is still in business.
What is Yer Dough Worth?
Soy-Yer Dough net worth estimated $750,000 as of 2021.
Is Soy-Yer Dough Safe for Children?
Yes, Soy-Yer Dough is safe for children to play with and eat. All components are non-toxic, non-allergenic, and free of any common allergens like peanuts and tree nuts.
Where is YER Dough made?
YER Dough is made in Indiana.
Is YER Dough gluten and wheat free?
YER Dough is gluten and wheat free. The company states that ingredients contain rice flour, a common ingredient in many foods.
Is YER Dough safe to consume?
Raw (unbaked) dough or batter should not be tasted or eaten. Allow children to handle or play with uncooked dough, including play clay and craft dough.
Uncooked flour and raw eggs may contain bacteria that make them sick if they eat uncooked dough.
Is YER Dough toxic?
No, Soy-Yer Dough is not toxic. The company has made sure that all components are completely non-toxic and safe to use.
Where is Soy-Yer Dough available?
Soy-Yer Dough is only available online through their official website.
Who acquired Soy-Yer Dough?
Sustainable Projects Group acquired Soy-Yer Dough in May 2020 for an unknown sum.
Is it called Soy-Yer Dough or YER Dough?
The name was changed from Soy-Yer Dough to YER Dough.
What episode was Soy-Yer Dough featured on Shark Tank?
Soy-Yer Dough was featured on season 1 Episode 7 (aired September 29th, 2009).