Spoonful of Comfort Shark Tank Net Worth 2023
Marti and Scott, the owners of Spoonful of Comfort, went on the television show Shark Tank to pitch their company and ask for an investment of $400,000 in exchange for a 10% ownership stake in their business. This means that they valued their company at $4 million at that time.
However, since then, their company has grown and become more valuable. This means that their current valuation is higher than $4 million, although the exact amount is not specified.
What is Spoonful of Comfort? Who are the Founders of Spoonful of Comfort?
Spoonful of Comfort is a thoughtful care package that can be sent to loved ones to show that they are being thought of or to convey warm wishes.
Initially designed to be a care package for loved ones who are unwell, it has now expanded to include other care packages such as the Pregnancy Care Package and the Birthday Care Package.
The care package contains three different varieties of soups, which include chicken soup, tomato basil soup, and potato leek soup.
Each gourmet care box includes 64 ounces of soup, six buns, six cookies (chocolate chip, oatmeal raisin, or sugar), a serving ladle, and a hand-written message card.
Customers also have the option to add other items such as tea, inspirational literature, blankets, and more for an additional fee to the $69 bundle.
To ensure that the soup stays fresh, flash-frozen gel ice packs are included in the package. The recipient can choose to refrigerate or freeze the soup upon receiving it to keep it fresh for a few days.
Spoonful of Comfort was founded by Marti Wymer, the CEO and creator of the company. The idea for the company came about in October 2007 when Wymer’s mother was diagnosed with cancer, and she was unable to visit her due to the distance.
She decided to send her mother some homemade chicken soup as a way to console her. Unfortunately, Wymer’s mother passed away only six weeks later.
In memory of her mother, Wymer started Spoonful of Comfort to make it easy for people to send delicious gift baskets to their loved ones who live far away.
Scott Gustafson, an investor, later joined Wymer to help expand the business. Spoonful of Comfort continues to be a heartwarming way to show someone that they are loved and cared for, no matter the distance between them.
Spoonful of Comfort Shark Tank Pitch
In season 8, episode 1 of Shark Tank, Marti and Scott pitched their business seeking $400,000 in exchange for a 10% stake, which values their company at $4 million.
During the pitch, they shared their story and offered the Sharks samples of their chicken and tomato soups. However, the Sharks were not impressed with the high cost of $69.99 plus $14.99 delivery for each care package.
Marti and Scott disclosed that it cost them $18 to acquire each customer and $31 to manufacture their products. When they sold their soup for $35, they were not making any profit. Despite these challenges, they had made $100,000 in sales in the previous year.
Barbara left the deal after learning that another investor had already invested $1.3 million in the company. Mark also declined to invest, stating that he believed the company was in the marketing business but lacked marketing skills.
Daymond liked the idea but felt that the target market was too limited, while Lori enjoyed the soup but did not see the company as scalable.
Robert felt that the company had not sorted out its issues after five years of operation, while Kevin recognized the issue with customer acquisition costs but did not have a solution to address it.
Following the show, Spoonful of Comfort made some changes to their business.
They expanded their soup selection, introduced occasion-based bundles and baskets for children, and announced new cookie-only packaging with free shipping. They also included handwritten letters in their boxes.
The company has seen success, particularly during the COVID-19 pandemic, earning $68 million in total revenue as of May 20, 2021.
What is Net Worth of Spoonful of Comfort?
Marti and Scott appeared on Shark Tank seeking $400,000 for a 10% stake in their firm. This equates to a $4 million valuation.
Current valuation is evidently higher since the Company has grown.
Who are the Competitors of Spoonful of Comfort?
Spoonful of Comfort’s main competitors include Delfoo, Delivery Hero AG., Eat24 LLC, and Doordash.
Spoonful of Comfort FAQS
What is Spoonful of Comfort?
Spoonful of Comfort is a care package that they may give to a loved one to let them know you’re thinking of them.
How much does a Spoonful of Comfort Gifts set you back?
Spoonful of Comfort care packages and presents with soup begin at $69.99, cookie-only packages begin at $24.99, and seasonal gifts begin at roughly $29.99.
Who founded Spoonful of Comfort?
Marti Wymer is the founder and CEO of Spoonful of Comfort.
How much were they seeking in the Shark Tank?
They sought $400,000 for a 10% stake in their company. This equates to a $4 million valuation.
Did they get the deal from the Sharks?
No, the Sharks did not invest in their Company.
Where is Spoonful of Comfort located?
Spoonful of Comfort is in the Restaurants and Other Eating Places industry and is located in West Valley City, Utah.
Is Spoonful of Comfort still in operation?
Customers have overwhelmingly good reviews for Spoonful of Comfort, praising its excellent meals and high-quality gifts.
The firm is still doing well now, and it was definitely a source of comfort for many people throughout the pandemic.
Spoonful of Comfort’s success rate?
With $68.6 million in revenue, the firm is a fantastic success story that has definitely provided solace to many throughout the epidemic to treat with “Love by the Spoonful.”
When was Spoonful of Comfort aired on Shark Tank?
Spoonful of Comfort was aired on Shark Tank son September 23, 2016.
Where do they currently ship?
They presently ship to any location in the United States of America. They are currently unable to ship outside of the United States, but hope to be able to do so in the future!
Where do the packages ship from?
The shipments are dispatched from Salt Lake City, Utah.
How soon will their order ship?
Orders with Standard Shipping will ship Monday through Wednesday and arrive Wednesday through Friday during the warmer summer months.
Express shipping is offered for a speedier delivery and is available Monday through Friday.
Orders received after 4:00 p.m. Eastern Standard Time will be sent the next business day.
What is the shelf life of their soup?
Soup is sent cold, and the receiver is advised to refrigerate it immediately and consume it within 3-5 days.
They are also invited to freeze the soup and eat it later.
Do their cookies have nuts?
Although the cookies do not include nuts, they are made at a facility that does.
Are they gluten-free?
Gluten-free soups, as well as gluten-free and vegan cookies, are available. Please keep in mind that, while the components are gluten-free, the soups and cookies are made in the same kitchens as their other goods.
What kind of plastic is used for their soup containers?
Polypropylene, an FDA-approved, food-safe material, is used to make their 32-ounce plastic containers.
It is regarded as the industry’s flagship material in terms of safety.
This plastic is BPA-free and devoid of phthalates. It may be utilized in microwaves and is even employed in some surgical and medical instruments.
What is the net worth of Marti Wymer?
Marti Wymer’s net worth is unavailable.
What is the website address of Spoonful of Comfort?
The website address of Spoonful of Comfort is www.Spoonfulofcomfort.com