Smart Baker Shark Tank Net Worth 2023

Smart Baker Shark Tank Net Worth

The Smart Baker, a kitchen company founded by Daniel and Stephanie Rensing, appeared on the ABC reality TV show “Shark Tank” in March 2012.

The couple asked for a $75,000 investment in exchange for a 25% share, but they later changed their minds and turned down the offer.

They accepted an offer from Barbara of $75,000 in exchange for 40% and a 5% royalty until she is paid back which brings the valuation to $187,500.

Annual revenue for the company is close to $1 million, up from $130,000 before their appearance on the show. The episode also helped the company get noticed by Food Network and other media.

In addition, The Smart Baker shipped six tons of products to an Amazon distributor before the 2012 holiday shopping season, resulting in brisk sales that spike around gift-giving holidays such as Christmas and Mother’s Day. As of 2021, The Smart Baker’s net worth is not publicly available.

What is Smart Baker? Who is the Founder of Smart Baker?

The Smart Baker is recognized for its inventive and practical cooking tools. Among their signature items are folding cupcake stands that can accommodate up to 100 cupcakes and fold flat for easy storage.

These stands are also adjustable, allowing for customization based on the number of baked goods being served.

The company also offers pre-cut parchment paper in circular or rectangular shapes to fit various molds. These pre-cut sheets have tabs on the sides for easy removal of the cake once it’s finished baking.

In addition, The Smart Baker produces cheat sheet aprons that feature essential measuring and conversion tables to prevent spills, stains, and measuring mistakes while baking.

The company is owned and operated by a husband and wife team, Daniel and Stephanie Rensing. Daniel has a background in computer graphics design and leadership, while Stephanie is an art teacher with degrees in art history and art education.

Together, they launched The Smart Baker and continue to run the business. Their website also features a range of baking supplies.

Smart Baker Shark Tank Pitch

Daniel and Stephanie appeared on season 3 episode 7 of Shark Tank, seeking $75,000 in exchange for a 25% stake in their company, which valued their company at $300,000.

During their pitch, they provided an overview of their business, stating that they had earned approximately $72,000 in total sales, but only $33,000 in the last three months.

They anticipated making $140,000 in sales by the end of the year, with $100,000 going to them. The majority of their sales came from their website and various specialty baking shops.

They were seeking an investment from a Shark to assist them in expanding their distribution and growing their company.

Mark declined to invest, feeling that he would hold them back. O’Leary believed that their idea was good, but there wasn’t enough potential profit, so he also declined to invest.

Robert Herjavec felt that he wasn’t knowledgeable enough about the baking and cooking industry to be a good investor.

Despite not making a deal, Robert Herjavec liked their concept so much that he became a customer. Daymond offered $75,000 for a 40% stake in the company, while Barbara offered the “Daisy Cake Deal,” which included $75,000 in exchange for 40% ownership and a 5% royalty until she was paid back.

When Daniel asked Barbara to increase her offer to $100,000, she declined. Daniel and Stephanie ultimately agreed to Barbara’s offer and left the show with her as their new partner.

After the show, Stephanie received a new teaching position, while Daniel continued to work at the company. However, the Barbara deal fell through due to concerns about the cost of the cupcake towers.

Despite this setback, Daniel continued to grow the company, and the publicity from appearing on Shark Tank led to a significant increase in sales.

They revamped their website and began selling parchment paper, aiming to become the “Reynolds Wraps of the globe.”

Daniel transported six tons of merchandise to an Amazon distributor just before the 2012 holiday shopping season, and sales increased during Christmas, Mother’s Day, and other gift-giving holidays. Today, the company’s sales remain stable, with an annual revenue of $1 million as of July 2021.

What is the Net Worth of Smart Baker?

Daniel and Stephanie appeared on Shark Tank season 3 episode 7 in search of $75,000 in exchange for a 25% stake in their company. This translates to a $300,000 valuation.

They accepted an offer from Barbara of $75,000 in exchange for 40% and a 5% royalty until she is paid back which brings the valuation to $187,500.

The current valuation is evidently higher since the Company has grown.

Who are the Competitors of Smart Baker?

There are no competitors identified for Smart Baker.

Smart Baker Shark Tank Updates

Daniel and Stephanie Rensing appeared on Shark Tank in Season 3 Episode 7 seeking $75,000 for a 25% equity stake in their bakeware brand, The Smart Baker.

During the show, Daymond John offered them $75,000 for 40% of the business, while Barbara Corcoran made the same offer as Daymond but with a 5% royalty until she gets her investment back. The Rensings accepted Barbara’s offer, and the deal was completed during the show on her terms.

After taping their Shark Tank segment, Stephanie got a new teaching job, which was the best news for the Rensings. However, the deal with Barbara never came through.

After meeting with Barbara’s “people,” Barbara had concerns about the cost of the product. Despite this, before the 2012 holiday shopping season, Daniel shipped six tons of product to an Amazon distributor, and sales were brisk and spiked around gift-giving holidays like Christmas and Mother’s Day.

The business maintained consistent sales over the years, and The Smart Baker is another Shark Tank success story.

As of 2023, The Smart Baker is still in business and offers high-quality, pre-cut baking parchment papers, reusable and adjustable cupcake tower stands, baking aprons, and more.

Their pre-cut parchment is available in 11 shapes and sizes, making it easier for bakers to use the right fit every time.

Smart Baker Shark Tank 2023

TOPIC	INFORMATION
Company Name	The Smart Baker
Founders	Daniel and Stephanie Rensing
Signature Products	Folding cupcake stands, pre-cut parchment paper, cheat sheet aprons
Shark Tank Appearance	Season 3 Episode 7
Valuation on Shark Tank	$300,000
Investment Offered on Shark Tank	$75,000 for 40% equity and 5% royalty until paid back, from Barbara Corcoran
Net Worth (2021)	Not publicly available
Annual Revenue (2021)	$1 million
Competitors	Not identified

Smart Baker FAQ

Who founded Smart Baker?

The Smart Baker was founded by Daniel and Stephanie Rensing, a husband and wife team.

What Is Smart Baker And How Does It Work?

The Smart Baker is a company that produces baking products designed to make baking easier and more efficient.

The company was founded by Daniel Rensing, a graphic designer, who created a measurement conversion chart on an apron for his wife, Stephanie, who loves baking.

The apron sales led to the development of other products, including specially sized parchment paper with handles to fit in baking vessels and a line of high-quality, reusable baking mats.

One of the company’s most popular products is the Perfect Parchment, which is precut to fit standard baking sheets and eliminates the need for measuring and cutting parchment paper.

The Smart Baker also offers a variety of other products, including the Cheat Sheet Apron, the BBQ Master Apron, the Cupcake Towers, the Cake Stands, the Cake Pop Stands, and Kitchen Towels with cheat sheets.

The Smart Baker appeared on Shark Tank in 2014 and received an offer from Barbara Corcoran, but the deal ultimately fell through. Despite this setback, the company has continued to grow and has sustained consistent sales over the years, with annual revenue reaching $1 million as of July 2021.

The Smart Baker’s success can be attributed to its innovative products that solve common baking problems and make baking more accessible to everyone, from novice bakers to professional chefs.

What Was The Inspiration Behind The Smart Baker?

The inspiration behind The Smart Baker was a measurement conversion chart that Daniel Rensing put on an apron for his wife, Stephanie, who loves baking.

The apron sales led to the development of the company’s first product, the Cheat Sheet Apron. The Smart Baker’s products are designed to make baking easier and include pre-cut parchment paper, cupcake towers, cake stands, cake pop stands, and kitchen towels with cheat sheets.

The company was founded in 2009 by Daniel and Stephanie Rensing and has been successful since then. The Smart Baker was featured on Shark Tank and received a $75,000 investment from Barbara Corcoran in exchange for a 40% stake in the company and a 5% royalty.

What Was The Outcome Of Smart Baker Shark Tank Pitch?

The Smart Baker appeared on Shark Tank in March 2012, asking for a $75,000 investment in exchange for a 25% stake in the company.

Daymond John offered $75,000 for a 40% equity stake, while Barbara Corcoran offered the same deal but included a 5% royalty for each sale until the $75,000 was paid off.

The Rensings made a counteroffer, but ultimately agreed on Corcoran’s original offer. However, the deal with Corcoran never came through.

Despite not completing the deal with Corcoran, The Smart Baker continued to grow. The appearance on Shark Tank prompted sales to grow to $500,000 in 2012, and by 2014, the company grossed just under $2 million. The business maintained consistent sales over the years.

The Smart Baker’s mission is to create new products that increase the ease and efficiency of kitchen efforts. The company offers pre-cut parchment paper and reusable cupcake towers.

The Smart Baker is a success story that is still growing. The company’s revenue increased from $3,000 in 2009 to $65,000 in 2010, and doubled to $140,000 in 2011. The appearance on Shark Tank helped the company grow even more, and it continues to offer innovative products that make baking easier.

Did The Smart Baker Get A Deal On Shark Tank?

Yes, The Smart Baker did get a deal on Shark Tank. According to Shark Tank Success, the founders, Daniel and Stephanie Rensing, were asking for $75,000 for a 25% stake in their company. Daymond John offered them $75,000 but for 40% of the business.

Barbara Corcoran also made the same offer as Daymond but with a 5% royalty until she gets her investment back. The Rensings accepted Barbara’s offer during the show on her terms.

However, according to Business Insider, after they had time to think about it, they changed their minds and turned down the deal.

Despite not taking the deal, The Smart Baker has thrived and has an annual revenue close to $1 million, up from $130,000 before their March 2012 appearance on the show.

How much were they seeking in the Shark Tank?

They were seeking $75,000 in exchange for 25% stake in their company.

Is Smart Baker still in business?

Yes, as of July 2021 they are still in business with annual revenue of $1 million.

Where is Smart Baker based?

They are based in Rockledge, Florida, United States.

How can they contact Smart Baker?

Smart Baker can be contacted via their website, Twitter profile, Facebook page, Pinterest page and Instagram.

When was Smart Baker aired on Shark Tank?

Smart Baker was aired on Shark Tank, season 3, episode 7 on March 2, 2012.

Do they have a website?

Their website is www.thesmartbaker.com

Where can they buy?

They can be purchased exclusively on their website and on amazon.

Which shipping method(s) do they employ?

Currently, their primary shipping options are USPS and UPS.

Do they provide worldwide shipping?

Yes, they can transport most of their items all over the world. Shipping costs vary by region and may be calculated before to purchase.

How quickly can they dispatch their order?

They make every effort to dispatch all orders within 24 hours, however certain things take longer to create, package, and ship.

Please contact them if they require an item by a specific date to determine whether they can make their deadline.

Expedited shipping may be required to assure on-time delivery.

Do they offer bulk pricing?

If they want to buy a large amount of a certain product, make sure you approach them for bulk or wholesale prices.

What is the policy on returns?

They can return most new, unopened products for a full refund within 14 days after delivery.

The original shipping charges are not refundable. Any items returned after the 14-day return period are subject to a 25% restocking charge.

They should expect their reimbursement within a few weeks after delivering their goods to the return shipper, although in many situations, they will receive it sooner.

How long will it take for their order to arrive after it has shipped?

Delivery timeframes differ depending on the delivery type and the distance from the shipment destination.

Are there any conditions attached to the Free Shipping offer?

Most free shipping offers are only valid for orders placed inside the contiguous 48 states.

If a promo code is not required, the free shipping option will be displayed throughout the checkout process.

All free shipping options will be for normal ground shipment.

What are their cupcake towers and cake pop stand made of?

Their towers and displays are all composed of washable, long-lasting PVC.

How are the cupcake towers and cake pop stands assembled?

Their displays make use of a patent-pending design of interlocking supports and a system of slots and tabs to provide a secure and sturdy construction.

Do they have a metric conversion apron?

Yes! A metric conversion apron is difficult, but they believe they have chosen the most regularly used products to convert.

What material is the apron made of?

The apron weighs 7.5 oz and is constructed of 65% polyester and 35% cotton twill.

How do they wash their apron?

All aprons may be machine washed. Wash on low temperature with like colours. Tumble dry on low or iron on the reverse side with a warm iron.

Can they bleach their apron?

They do not recommend that they bleach their apron.

Can they create a personalized apron?

Yes! If they have a specific recipe, conversion, or other concept for their apron, they will make it for them. All bespoke goods are priced individually and must be purchased by emailing them.

What is the net worth of Daniel Rensing?

Daniel Rensing net worth is $14 Million as of 2022.

What is the net worth of Stephanie Rensing?

Stephanie Rensing net worth is $600,000 as of 2022.