Soy-Yer Dough Shark Tank Update | What happened to Soy-Yer Dough after the Shark Tank Pitch?
What is Soy-Yer Dough?
Soy Yer Dough is a gluten-free, soy and corn-based modelling clay developed as an alternative to wheat-based play doughs for persons who are allergic to wheat.
It is believed that up to 6% of the US population suffers from some kind of gluten sensitivity, with around 1% suffering from the more severe form, Celiac Disease.
Who is Soy-Yer Dough Founder?
Sawyer Sparks and his wife, Samantha Sparks, co-founded Soy Yer Dough. Sawyer was a 22-year-old college student when he originally proposed the firm on Shark Tank Season 1 Episode 7.
He is now the CEO of YER Brands (previously Soy Yer Dough), while Samantha is still on the team as the production manager.
Sawyer Sparks was a Purdue University agricultural economics student when he discovered his professor’s kid had celiac disease.
Wheat, among other things, causes the intestinal disease. That meant she couldn’t play with Play-Doh, which was a bummer for the five-year-old.
Her buddies all had a great time playing with the modelling compound, although it contained wheat.
Sawyer proceeded to his “laboratory” (his mother’s kitchen) and created the first patented wheat-free modelling dough: soft, colourful, wonderfully fragrant, and non-toxic.
It is also edible because it is manufactured from rice flour. The kitchen became a factory and distribution hub as Sawyer, his mother, and his girlfriend prepared, packed, and transported Soy-Yer Dough.
What happened to Soy-Yer Dough at the Shark Tank Pitch?
Sparks appears on Shark Tank season 1 episode 7 in search of a $125,000 investment in exchange for a 25% stake in Soy-Yer-Dough. This equates to a $500,000 value. Sawyer Sparks demonstrates Soy-Yer-Dough to the Sharks.
He tells the Sharks that one of every eight youngsters has a wheat allergy, and that one-eighth of the sales of the big modelling dough is worth $12 million, indicating a sizable potential market.
The Sharks are pleased with sales of 8,000 containers and an order for an additional 11,000 containers. The Sharks want to know if the material is protected by intellectual property.
When Sparks explains that he not only has a provisional patent on the product, but that Hasbro, the producers of Play Doh toys, has approached him many times with offers to acquire the Soy-Yer-Dough invention for up to $500,000.
The Sharks are sucked in. “Why would you want to prepare one cup of this crap while the number one person on Earth is hammering on your door?” Kevin O’Leary wonders.
Instead of selling out to a larger firm and allowing his product to be created elsewhere, Sparks wants to preserve manufacturing and production in his area and generate employment.
His love for his hometown is palpable, but O’Leary is focused on the commercial deal at hand. Spark’s attempt to obtain a patent is “amazing,” he adds, and he “rarely sees a commercial opportunity like this.”
The sharks rapidly become engrossed in a feeding frenzy. O’Leary is offering $125,000 for 51% of the firm.
To sweeten the bargain, he assures Sparks that he may back out of the investment if he isn’t satisfied with the agreement O’Leary strikes with Hasbro.
Daymond John agrees with O’Leary’s offer and departs. Kevin Harrington promises to clear out the clutter.
He believes that a licensing expert, such as Kevin O’Leary, is an excellent partner to have. Kevin Harrington adds that he does not want to make an offer because of this, and that he is also out.
Barbara Corcoran claims that Kevin O’Leary is Sawyer Sparks’ natural companion, despite the fact that she dislikes him.
Even for Barbara Corcoran, endorsing Kevin O’Leary is startling. Barbara Corcoran has said that she is no longer available.
Robert Herjavec and Kevin O’Leary are the two remaining Sharks. O’Leary says that his knowledge is worth 51%. Herjavec enters the fray with his own offer $125,000 for 40% of the firm.
O’Leary desires power, and Sparks desires his knowledge, but he is hesitant to give up his ownership stake.
Daymond John returns to the table and offers an additional $200,000 in collaboration with O’Leary.
Herjavec stands up, proposing to join O’Leary’s proposal for an extra $100,000.
O’Leary adjusts the idea slightly, offering the three investors $100,000 each for a $300,000 purchase for 51 percent of Soy-Yer-Dough. Sparks agrees. The Sharks approve, and Soy-Yer Dough left the Tank.
Soy-Yer Dough after the Shark Tank Pitch?
Sparks re-entered discussions with Hasbro after the agreement with the three Sharks fell apart.
Before seeking to sell the invention to a huge toy business, he aims to generate sales.
His idea of closing a huge transaction while also negotiating for new employment to be created in the United States appears to be larger than life, yet it is coming true.
Because the product includes no soy, they altered the name to “Yer Dough” to prevent misunderstanding.
He never reached an agreement with Hasbro. For 10 years, the firm was profitable.
It was purchased by Sustainable Projects Group for an unknown sum in May 2020.
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).