What Happened To The Painted Pretzel After Shark Tank?
When stay-at-home mom Raven Thomas started making chocolate-covered pretzels for her kids out of her home kitchen, little did she know she had stumbled across an incredible business idea. Thomas initially started making the pretzel creations as a way to relax and feed her family, but soon her kitchen turned into a production area while she made her pretzels to be sold in local small businesses. According to Shark Tank Blog, Thomas earned $60,000 from her business before appearing on the show.
But soon word of Thomas' pretzels — dipped in various types of chocolates, butterscotch, mint, and peanut butter and then often covered with candy — spread and orders came pouring in. Unfortunately, Thomas' kitchen had not gotten any bigger and she was unable to accommodate the orders, including one from Neiman Marcus and a $2 million deal from Sam's Club. There was nothing left to do but seek out investors in order to purchase a commercial kitchen in order for The Painted Pretzel to survive, so Thomas turned to the Sharks (via Gazette Review).
The Painted Pretzel scored a slam dunk deal with Mark Cuban
Raven Thomas appeared on "Shark Tank" in February 2012 to pitch her business The Painted Pretzel, asking for a $100,000 investment for 25% equity in the company (via Shark Tank Blog), but not much could have prepared her for the scrutiny the Sharks put Thomas and The Painted Pretzel through. Shark Kevin O'Leary didn't think the business was very original and that Thomas' pretzel recipes could be easily replicated by anybody. Thomas chimed in that other pretzel makers "can't do it like [her]," and Shark Mark Cuban agreed, stating, "You put your heart, your soul, and your love into it and you care about the business" (via YouTube).
Cuban agreed to invest the $100,000 in The Painted Pretzel in exchange for 25% of the company, voicing interest in selling the product at Dallas Mavericks games — he's the team owner — and at Landmark movie theaters, which he also owns. "She (Thomas) is hard working and has a great product. I thought that with some help, the product line would have great leverage," Cuban told Food Republic.
Amazing sales and inspiring tales = Shark Tank success
Business has boomed for The Painted Pretzel, which brought in $1.5 million in 2014 after appearing on "Shark Tank" and scoring that $100,000 investment from Shark Mark Cuban (via Bustle). According to Shark Tank Blog, the company works with various corporations and its product continues to be sold in Landmark movie theaters. You can also buy The Painted Pretzel's products on the company website, including the "aMMazing" (pretzel rods covered in M&M's), and "The Chunky Chip" (pretzel rods dipped in chocolate and then covered in chips of various flavors).
Raven Thomas has not only succeeded financially and helped to provide more than just snacks for her two sons, but has also inspired others along her journey. Instagram user @cakesandsweetsbycece commented on one of Thomas' posts about appearing on "Shark Tank," writing, "I was instantly motivated and inspired by you!!!! I started my own bakery because of you."