The Dough Bar Shark Tank Net Worth 2023
The Dough Bar is a healthy doughnut company that appeared on Shark Tank in 2018[2. The founders, Ondrea and Marquez Fernandez, asked for $300,000 in exchange for 15% equity. Barbara Corcoran offered them $300,000 for 25% equity, which they accepted. The company has lifetime sales that exceed $1.1 million and an average margin of about 50% on a traditional box of donuts.
As of 2022, the net worth of The Dough Bar’s founders is $1 million USD. However, in October 2019, the company filed for Chapter 11 bankruptcy protection with more than $774,115 in secured and unsecured debt and $599,000 in assets. Despite this setback, the owners vowed to reorganize and remain in business.
In terms of valuation, The Dough Bar was valued at $2 million during their Shark Tank pitch in 2018 due to their strong sales performance with over $1 million in sales that year. However, it is unclear what their current valuation is after filing for bankruptcy.
What Is The Dough Bar?
The Dough Bar offers a healthier alternative to traditional doughnuts with the option to choose from a basic or a variety of flavored doughnuts including Oreo, Pumpkin Pie, Cookie Monster, Cinnamon, Apple Pie, and others.
Unlike typical doughnuts, The Dough Bar’s products are baked rather than deep-fried to ensure that they are a healthy option.
The founders of The Dough Bar, Marquez and Ondrea Fernandez, both left their previous jobs as a nurse and a software professional, respectively, to focus on their business. The couple still owns and runs the company today.
Their doughnuts are made with a yeast-based dough that includes wheat and malted barley flour and are free of most undesirable ingredients found in traditional doughnuts. Each doughnut provides 11 grams of protein.
Marquez and Ondrea believe in staying active and maintaining a healthy diet but also enjoy indulging in “cheat treats” from time to time, which inspired them to start The Dough Bar.
Their website provides detailed nutritional information for their products, and customers can also choose to receive their glaze in separate packaging for glazed doughnuts.
Who Is The Founder Of The Dough Bar?
In 2015, The Dough Bar was established by Marquez and Ondrea Fernandez, a couple who desired to merge the delectable and familiar taste of doughnuts with health-conscious eating habits. By removing the fat, sugar, and oil from traditional doughnuts, they aimed to provide a guilt-free option for everyone to enjoy.
Despite their active and outdoor lifestyle, Marquez and Ondrea found it challenging to find satisfying protein bars and drinks that felt like genuine food. Therefore, they began to expand their offerings, starting with protein crisp bars in 2016. The bars, which taste like Rice Krispies snacks, proved to be a hit and raised $20,887 in a successful Kickstarter campaign.
Marquez and Ondrea are committed to maintaining a healthy lifestyle and giving back to their community. As part of their commitment, a portion of their profits is donated each month to local organizations that promote healthy living and combat childhood obesity.
The Dough Bar offers a variety of doughnuts, including classic flavors, sophisticated creations such as Oreo Crumble, and seasonal treats. A box of four doughnuts is priced at $15, while a variety box of 12 doughnuts is available for $39. Customers rave about the exceptional taste of The Dough Bar’s doughnuts.
What Happened To The Dough Bar At Shark Tank Pitch?
In episode 20 of Season 9 of Shark Tank, Ondrea and Marques Fernandez, a married couple from California, presented their company, The Dough Bar, to the investors. They were seeking a $300,000 investment for a 15% stake in their firm, which was valued at $2 million.
Marques, a professional bodybuilder, humorously wondered what he would look like if he ate doughnuts every day. The couple distributed samples of their product, which received positive feedback from the Sharks.
The doughnuts were described as a cross between a doughnut and a bagel, with glazed doughnuts containing 200 calories and plain doughnuts containing 150 calories. The product could be stored in the refrigerator for 3-4 days, and a box of four cost $15.50 with shipping costs ranging from $6 to $9.
The company had a profit margin of approximately 53% and had generated $1.2 million in sales from June 2015 to January 2018, with an expected $1 million in sales for 2018. The couple wanted to use the investment to expand their marketing budget and improve the product’s shelf life to 3-4 weeks.
After sharing their other products, a gluten-free cake and a protein crispy bar, the Sharks began to make offers. Barbara offered $300,000 for a 30% stake, while Lori offered $300,000 for a 20% stake. Mark and Robert were not interested, and Alex offered Lori $300,000 for 30% equity if she teamed up with him.
When Marques asked if Barbara and Lori would work together for $400,000 for a 30% stake, Barbara advised against it and reduced her offer to $300,000 for a 25% stake.
After a lengthy discussion, Marques asked Barbara if she would accept a 20% stake, which she agreed to in order to outdo Alex and Lori. The couple left the pitch with smiles and hugs from the Sharks.
What Happened To The Dough Bar After Shark Tank?
Despite the failed deal with Barbara, sales for the company increased as expected after their appearance on the show. Following this success, they expanded their product line to include Rice Krispy Treats, as well as several new doughnut varieties, such as Savory Nacho Cheese, Smores, and Oreo Cheesecake.
These products are now available in nutrition stores, gyms, and smoothie bars across the United States. In season ten, episode 1011, the company provided an update on their progress, announcing that they had relocated to Colorado and constructed a production plant. They also expressed plans to open two physical retail locations.
However, ten months after this update segment, the company filed for Chapter 11 bankruptcy. Despite this setback, they were able to resolve their financial troubles and successfully opened two retail bakery sites in the greater Denver region by June 2020.
Additionally, their manufacturing facility now provides co-packing services, and their retail locations generate around $1 million in annual revenue, with an additional $1 million generated through online sales.
Looking to the future, the company plans to continue expanding, with a goal of opening 5-8 new retail locations in another state, potentially California, in 2022.
Who are the Competitors of The Dough Bar?
The Dough Bar has eight competitors: 1. DoubleDoughnuts, Glazed Dessert Co., Glazed Dessert Bar and GLAZED CANDY BAR
Net Worth of The Dough Bar
The company was valued at $2 million during the pitch, since the firm has been doing well in sales with $1 million in 2021. This means that the company net worth had elevated.
The Dough Bar FAQs
What is The Dough Bar?
The Dough Bar serves doughnuts that are a healthier alternative to traditional donuts. You have the choice of selecting a basic doughnut or a particularly flavored doughnut.
Who is the founder?
The Dough Bar was founded by Ondrea and Marques Fernandez. They are husband and wife that cook healthy doughnut and desserts.
How much were they asking on Shark Tank?
They were asking for $300,000 for 15% stake of the company.
Did they get the deal?
The Fernandez got a deal from Barbara for $300,000 for 20% stake of the company but they did not complete the deal.
Is The Dough Bar still in business?
Yes, The Dough Bar is still in business and has several retail locations across the United States.
So who does The Dough Bar serve?
The Dough Bar serves to those who love doughnuts but they don’t want to be unhealthy. You can find their stores in major cities like New York, New Jersey, Connecticut and Massachusetts.
Where are they located?
The Dough Bar serves customers in different nationwide such as New York, Colorado and California. Some of them located in New Jersey as well as Colorado.
Where can you buy them?
Customers can purchase them straight from their website or at select retailers. Major retailers include Amazon, Walmart, and GNC.
How much does it cost?
The doughnuts are priced between $1 and $4 depending on where one purchases them. Online orders are substantially cheaper than those that are made in stores. The website offers deals when they purchase multiple boxes of doughnuts together.
How does The Dough Bar work?
The Dough Bar works by selling donuts that taste just like Krispy Kreme doughnuts. They created a blend of gluten-free flour, rice and coconut oil.
What are the benefits of The Dough Bar?
The Dough Bar comes in two flavors: Donut and Glazed Treats.
Why are doughnuts better than real donuts?
The Dough Bar uses the highest quality ingredients in their doughnuts, which makes them a healthier alternative to traditional donuts.
What is the net worth of Marques Fernandez?
Marques Fernandez has a net worth of $2 million.