Pastry Chef, Emily Griffin, and her husband, Matt Griffin are the founders of Bakers Edge. The couple has a utility patent on their caramelized edge brownie pan, selling $5.8 million.
The Baker's Edge compliment caramelized Edge Brownie Pan – Oprah's Favorite Things
The Bakers Edge Brownie Pan provides a caramelized edge on every brownie. They dominate the larger multi-national pans with their design. The Sharks are impressed with the design of Bakers Edge caramelized edge brownie Pan.
Their caramelized edge brownie pan landed on Oprah's favorite things scoring Bakers Edge $1 million in thirty days. They took the money and eliminated their debt.
An infringing product sold briefly on QVC, along with a few other pans infringing on their patent. They enforced their patent and forced the other products off the market.
Matt admits that the Bakers Edge caramelized Brownie Pan flatlined, and so they have created a new muffin pan to add to their line.
The problem Emily and Matt Griffin are doing $256,000 a year with their business, and have taken three years to come up with their next product. They needed to create their next product while the Brownie Pan accelerated.
They are hard workers, but what matters to investors is what you are doing to maximize their shareholder value. They don't want stagnant revenues.
Company: Bakers Edge
Entrepreneurs: Emily and Matt Griffin
From: Carmel, Indiana
Ask: $400,000 for 20% equity
Companies in this episode: Foot Fairy, Tie-Not, BZBox
Season: Season 5 Episode 529
Sharks: Mark Cuban, Barbara Corcoran, Kevin O'Leary, Lori Greiner, Robert Herjavec
What do the Shark Tank Investors say about Bakers Edge
Mark Cuban tells them they did something great seven years ago, and it took you three years to come up with something great? He is out.
Barbara Corcoran offers advice not to put a lot of effort into the muffin pan. She sees them in their sophomore year, and she is out.
Kevin O'Leary doesn't care about their past story; he wants to know what the future holds. He wants to know how he is going to make a lot of money, and he believes they don't have a new idea. He is out.
Lori Greiner criticizes the other Sharks, saying they have never created a product. She believes that they created something fantastic, but the problem is that you do have to keep producing. Lori doesn't feel what they have is the next wave. For that reason, she is out.
Robert Herjavec said, “What time is selling time?” It's always selling time. They took three years to get the next product out. He is out.
Bakers Edge after Shark Tank
Bakers Edge Carmelized Brownie pan is still selling, but the company has a couple of negative reviews on their Facebook page. People ordered the pan for Christmas 2017, and it appears that pans were still not delivered in February 2018. They have a message that says they are close to shipping, but no news that they shipped.
Hopefully, the company addressed the inventory issue and are shipping today. The Baker's Edge Muffin Pan and Spatula Pack are in stock and available on Amazon through their Prime program as of this post.