Featured Shark Tank Post
The Painted Pretzel on Shark Tank
Painted Pretzel from Season 3, Episode 302
Aired 2/24/2012 - Rerun 11/30/2012
|Raven Thomas Owner of the Painted Pretzel Co.|
|Painted Pretzel |
Custom Pretzel Rods
along with the professional packaging that really gives the whole concept a Really Good (and hard to resist) presentation that makes you want to at least try one. But just like the Lay's Potato Chip's, "It's Impossible To Eat Just One".
How's that other saying go? If you want to get to a Man's Heart, the surest way is Thur his stomach. That's exactly what Raven did with Mark Cuban. Mark fell in love with the Painted Pretzel with the first bite and he wanted more, A Lot More. At the time Mark was just another billionaire that wisely cashed out at the height of the Dot Com bubble and bought the Dallas Mavericks. If you don't follow Basketball you may not of even known who he was when he made his debut on the Shark Tank Show. Mark is known for his negotiating skills and anyone that knows him, I'm sure would agree, he does NOT like to lose. When Mark Cuban sees a good idea (or more importantly, a very determined entrepreneur that is 1000% dedicated to their invention) he strikes like a, we'll he strikes like a Shark. There is no stopping him and nothing is getting in his way.
At the time of the first airing Raven Thomas had some very impressive numbers to back up her business for the valuation she put on it. Thomas was asking for $100k for a 25% stake in the company valuing it at $400k. Thomas grossed $75,000.00 the previous year and has $64,000.00 in standing orders. She then says she just had another $140k order that just came in but she just doesn't have the capital to fulfill the order. The Painted Pretzel is also in the Neiman Marcus Stores which adds more credibility to the product.
If You Want To Make A Deal On The Shark Tank Show - Bring A Silver Bullet!
If there is one single thing ALL the Sharks Love, it's number's, BIG Numbers. Thomas smartly plays the negotiating game without showing all her cards too early. She had them right where she wanted when she plays her ace in the hole. Thomas says she had a $2 million dollar order from a small little retailer called Sam's Club that is owned by Wal-Mart. The order was way too big in her current situation and she had to walk away from making a deal.
Mark Cuban has heard enough. He wants the Painted Pretzel in his Sports Arena and all his LandMark Theatres and he offers Thomas exactly what she was looking for. But (as we all know now) he's not much for negotiating if he thinks he is making a fair offer and he wants Ravens answer Right Now, or else.
Raven Thomas quickly agrees to Mark Cubans offer and the other Sharks get shut out of the deal rather fast. Cuban Makes His Very First Deal on the Shark Tank and quickly let's the other Sharks know that there is a new Shark in town and the rules have changed.
Where is Painted Pretzel Now?
As you can imagine having a billionaire partner that loves your product as much as you love to make it, can only be a good thing and lead to a Huge Success. Thomas now has a large commercial kitchen where she makes an impressive variety of Painted Pretzel products. You can now find Ravens creations in stores around the country or directly from her website. As for that little known store the Sam's Club, from what I understand you can now buy them there. I just so happen to live close to one and I will be going there later today to see if they are in stock. Hm, they really do look good and I can't wait to try them. A gift for someone that already has everything? Now there's an idea! (especially if they like to share)