Husband and wife duo, Stephanie and Daniel Rensing, pitched their baking supplies company during
If you’re short on time, here’s a quick overview of what happened to The Smart Baker after
Stephanie and Daniel Rensing appeared on
|Barbara Corcoran||Accepted deal for $75,000 for 40% equity with the 5% royalty|
|Daymond John||$75,000 for 40% equity|
|Mark Cuban||No offer|
|Robert Herjavec||No offer|
|Kevin O’Leary||No offer|
Shark Tank The Smart Baker Update
- Entrepreneur: Stephanie and Daniel Rensing
- Business: Home baking products
- Ask: $75,000 for 25% equity
- Result: $75,000 for 40% equity with 5% royalty until repaid
- Shark: Barbara Corcoran
Founders of The Smart Baker, Stephanie and Daniel Rensing, walked into the tank, and introduced the sharks to their home baking products. Their aim is ultimately to design products that will help actually simplify the baking process.
- THE PERFECT CENTERPIECE: Our cupcake stand will serve as the perfect centerpiece for your dessert table and display your cupcakes more attractively.
Their popular products include cake pan parchment paper, with tabs for easy removal. Additionally, they also sell an apron with a measurement conversion cheat sheet, and a PVC cupcake stand that comes apart for easy storage.
They finally treated the sharks to cupcakes, but Kevin O’Leary immediately wanted to talk sales. Daniel said that altogether, they’d reached $72,000 in sales, with $34,000 in the last three months.
Further. they were also on track to achieve $140,000 by the end of the year, aiming to net $100,000 in profit. Robert Herjavec was impressed by the margins.
Kevin wanted to know if they were doing this as a full-time job. Daniel admitted that he was doing it full-time, although, Stephanie said she’d been an elementary school teacher until losing her job recently.
She was also committed to the company full-time. Barbara Corcoran wanted to know how they were selling the products, whether online or at trade shows.
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The couple told the sharks that they were selling them online through mail orders. Barbara wanted to know what the best seller was, and it ended up being the cupcake tower.
Robert asked what they wanted to do with the investment, and Daniel said he eventually wanted to tackle the trade shows.
Mark Cuban said he liked what the couple was doing, but he didn’t have much to bring to this business, so he went out.
Kevin wasn’t sure about how to scale the business and the profitability of the investment. He went out.
Robert also went out, because he didn’t think he could add value to the company, but said he’d love to be a customer.
Barbara wasn’t sure whether she’d make an offer. Taking advantage of her hesitation, Daymond John offered $75,000 for 40% equity.
Barbara matched that offer of $75,000 for 40% equity, but also with a 5% royalty until the investment would be paid back. She also highlighted that Daymond didn’t know anything about baking, while she had a whole network for it.
Daniel countered Barbara’s offer for $100,000 for 40% equity with the 5% royalty. Barbara refused and stuck to her original offer.
Stephanie and Daniel ultimately accepted her offer, leaving the tank with a deal.
Do you think it all worked out following
Our The Smart Baker update shows that the deal with Barbara never closed, but that didn’t stop Stephanie and Daniel. The company still enjoyed sales attention after the episode aired.
The business is still going strong, making $1 million in annual revenue.
You can check out all of their product on The Smart Baker website. They’ve expanded their line to include several styles of parchment paper, cupcake tiers, and they also have towels with measurement cheat sheets, in addition to their aprons.
Besides the website, products are also available on Amazon.
If we learn anything new about this company, we will certainly let you know. However, in the meantime, feel free to check out our other company updates from Season 3 Episode 7 by following the links below.
There you will find everything you are hoping to know about these companies!
For even more on companies and products, be sure to stop by our Season 3 Products Page!
Jennifer is an avid Shark Tank fan that has been watching the show for years. She serves as Senior Editor at Shark Tank Recap and ensures that all our information is accurate and that our posts are up to date. Her favorite Shark Tank products are Le-Glue and Ring!