Spoonful of Comfort Shark Tank Pitch
Marti and Scott created Spoonful of Comfort, a business designed to help those you care about who are sick or hurting. They make a Chicken Soup that comes in a care package from their website delivered to the persons front door.
Spoonful of Comfort is equal to, or less than the cost of a bouquet of flowers. They even have enough for the six Sharks, which is different than the normal five Sharks that appear on Shark Tank.
Their package feeds a family for $69.95 which does not include shipping, which is $14.99. The package includes cookies and rolls.
Scott has put in $1.3 million which is $500,000 of equity and a $800,000 loan. They were on a daily deal site that took off but they were losing money. The cost of acquisition is $18, and the cost of the package is $31. Customers were not ordering again. The most recent 12 months of sales is $1.2 million. Overnight shipping is $39.95.
Spoonful of Comfort Episode Data
- Company: Spoonful of Comfort –Website
- Entrepreneur: Marti Wymer and Scott Gustafson
- Ask: $400,000 for 10% equity
- Episode Season 8 Episode 801
- Companies in this episode:
- Spoonful of Comfort
- Re Think
- First Aired: 09/23/2016
- Deal: No deal
What do the Shark Tank Investors say about Spoonful of Comfort?
- Mark Cuban – doesn't think that it is a take it out and shoot it, but they are in the marketing business, and for those reasons he is out.
- Barbara Corcoran – this business will never work because you have put $1.3 million into this business. She is out.
- Daymond John – likes the concept, but you have to find people when they have a cold, and so he doesn't see that happening, and he is out.
- Kevin O'Leary – says this is a long grind, and he doesn't know how to help them reduce the customer acquisition cost. he is out.
- Lori Greiner – likes the tomato soup. She doesn't see this becoming really big, and she can't see getting her money out of it. She is out.
- Robert Herjavec – nobody loves soup more than he does, but they haven't figured it out over five years, he is out.
Spoonful of Comfort after Shark Tank
The company is still marketing online, and the show spiked sales on their website, known as the Shark Tank effect.