The Painted Pretzel | Shark Tank Season 3
Entrepreneur Raven Thomas pitched her dessert company during
If you’re short on time, here’s a quick overview of what happened to The Painted Pretzel after
Raven Thomas appeared on
| Shark: | Result: |
| Mark Cuban | Accepted deal for $100,000 for 25% equity |
| Lori Greiner | No offer |
| Daymond John | No offer |
| Kevin O’Leary | No offer |
| Robert Herjavec | No offer |
Shark Tank The Painted Pretzel Update
- Entrepreneur: Raven Thomas
- Business: Candy pretzels
- Ask: $100,000 for 25% equity
- Result: $100,000 for 25% equity
- Shark: Mark Cuban
Founder of The Painted Pretzel, Raven Thomas, entered the tank with samples of her candy-covered pretzels, and talked about the numerous flavor profiles available. The sharks certainly found the pretzels delicious, and listened to Raven talking about needing a strategic partner.
She goes on to explain that she wanted to focus on her kids. So, she ultimately left behind a career to raise them.
While being a stay-at-home mom, she came up with an idea to make chocolate-covered pretzels that could be sold for gifts.
Noticing the success of the pretzels, she opened a business offering a range of candy pretzels, however, she’s at a point where she needs help.
Kevin O’Leary wanted to hear sales numbers, while some of the other sharks stole pretzels from each other and continued to enjoy them. Raven told them that over the last 12 months the company had sold around $75,000 with another order pending for $64,000.
Additionally, she also said she had orders accumulating to $140,000, although, she did not have the capital to fulfill them.
Lori Greiner wanted to know what those purchase orders were for, and Raven talked of her experience with Neiman Marcus, Sam’s Club, and other retailers. Kevin asked what made her pretzels stand out from the competition.
Raven mentioned the quality of ingredients and the success of the recipe. Lori wanted to know how many times per year Neiman Marcus sent orders.
Raven said there were several orders in the fall, then again in the spring, and the product was also available in all stores and online. Mark Cuban noticed that the appeal would also be the unique assortment of flavors.
Kevin did not really believe there was anything proprietary about the product, but Mark believed in the vision and the personal touch Raven brought to the business. Lori asked Raven to give them a reason to invest.
Raven talked about her family, which led to Robert Herjavec coaching her in answering in a way that would be relevant to investors.
Then, Kevin went out before she gave her reason.
It turns out that Raven needed to walk away from a $2 million deal with Sam’s Club. This was because she didn’t actually have the capital.
Mark told Raven he could sell those in his properties, from Landmark Theaters to Mavericks locations. He offered her the exact ask, $100,000 for 25% equity.
Raven finally accepted, and left the tank with a deal. What do you think happened following
Keep reading The Painted Pretzel update to find out.
Research for The Painted Pretzel update, shows that the partnership between Mark and Raven achieved great success. The company is still running, and currently making around $1 million in annual revenue.
You can find the delicious products on the Painted Pretzel website. There you will find a variety of pretzel treats, corporate gifts, and fundraiser offerings.
Raven also runs a brick and mortar retail location in Scottsdale, Arizona.
If we learn anything more about this company, we will certainly let you know. In the meantime, you can checkout our other company updates from Season 3 Episode 6 by following the links below.
For even more on companies and products, be sure to stop by our Season 3 Products Page before you go!
Andrew Smith is the founder and owner of Shark Tank Recap. He is a longtime Shark Tank fan that has been watching it for years and has seen every episode multiple times. His friends know him as the Shark Tank expert, because he can answer any question about the show! His favorite Shark Tank products are Bertello's pizza oven and Bug Bite Thing!
