Reading the brand’s name itself leaves your mouth watering. It brings a delicious image before you that you just want to grab and soothe your taste buds. Mr. Tod’s Pie Factory is a business that offers a variety of bakery food like muffins, cheesecakes, and most importantly Pies.
Mr. Tod’s specialty lies in sweet potato pie. The bakery business was set up in 2002. It is named ‘one of the best mail order pie companies in America’ by Country Living Magazine.
Mr. Tod’s Pie Factory at a Glance:
| Idea | Serving goodness, value, and taste in every bite. |
| Founders | Tod Wilson |
| Asked For | $460,000 For 10% |
| Accepted Deal | $460,000 for 50% |
| Sharks | Barbara Corcoran and Daymond John |
| Business status | In Business |
| Episode No. | Season 1, Episode 1 |
Index:
What is Mr. Tod’s Pie Factory?
Mr. Tod’s Pie Factory is a bakery that specializes in sweet and savory pies, based in New Jersey. The company appeared on Shark Tank in 2015 and secured a $460,000 investment from Barbara Corcoran, in exchange for a 25% equity stake in the business.
Founder Story:
Tod Wilson from New Jersey is the owner and the baker of these delicious pies. He learned the art of baking from his Godfather as he helped a million-dollar bakery business. He was only 25 years old when he began his journey in the business. He started it by selling his famous and most loved bite-size sweet potato pies wholesale.
Before being a baker and owning a pie factory, Wilson dreamt of becoming a lawyer. He completed his graduation at the University of Richmond. As soon as he completed his graduation he started working on the bakery and soon became the largest distributor and soon set up his own, Mr. Tod’s Pie Factory in 2002.
Did Mr. Tod’s pie Factory get a deal on Shark Tank?
Yes, Mr. Tod’s Pie Factory did win a deal on Shark Tank. Do you know which company was the first to make an appearance on Shark Tank and also secure a deal, it was our Mr. Tod’s Pie Factory. On entering the show, Wilson presented his pitch and sales to the sharks. He asked for $460,000 for 10% of the company.
Looking at the $850,000 wholesale business the sharks were happy and saw that the business is quite successful. Though they find it good, Kevin O’Leary, Kevin Harrington, and Robert Herjavec opt out of the deal as they feel the equity is not what they could live in.
But two more sharks wanted and wished to invest. Barbara and Raymond together offer $230,000 for 50% of the company. Wilson considers the offer and shakes hands with the sharks.
What Happened to the Mr. Tod’s Pie Factory after Shark Tank?
Well, the reality is not always what’s seen onscreen. Wilson withdrew from the deal as he found it difficult to give half of the company to the sharks. That is the deal never happened. However, Shark Tank did help Wilson to boost his business, his pies were featured in Jet Magazine, and he appeared on reality shows like Rachel Ray and Oprah Winfrey. This appearance helped the company to get national recognition.
The annual revenue of Mr. Tod’s Pie Factory today is $12 Million. The valuation of Mr. Tod’s Pie Factory during the pitch was $4,600,000 and was brought down to $920,000 by the sharks. The current net worth of the company is estimated to be $10 Million.
After the show, Wilson also started a restaurant with breakfast served but soon after almost six years in retail shops, it was closed and today Mr. Tod’s Pie factory is completely online based.
Since appearing on Shark Tank, Mr. Tod’s Pie Factory has continued to expand its reach and offerings. The company has opened additional locations in New Jersey and New York, and its products are now available for nationwide shipping. The bakery has also added new flavors to its menu, including vegan and gluten-free options.
In 2020, during the COVID-19 pandemic, Mr. Tod’s Pie Factory pivoted its business to offer virtual baking classes and launched an e-commerce site to sell its products online.
Overall, it appears that Mr. Tod’s Pie Factory has been successful in growing and adapting its business since its appearance on Shark Tank. The investment from Barbara Corcoran likely helped the company to scale its operations and expand its reach, and the business’s ability to pivot during the pandemic shows its resilience and flexibility.
Competitors
- Broma Bakery LLC
- Kaked Boxes
- Moreno Bakery
- CobblerWorld LLC
What is the Net Worth of the Mr. Tod’s Pie Factory?
The net worth of Mr. Tod’s Pie Factory during the pitch was $4,600,000 and was brought down to $920,000 by the sharks. The current net worth of the company is estimated to be $10 Million.
Is Mr. Tod’s Pie Factory still in Business?
Yes, the pie factory is still in business and runs an online store through their website delivering all over the USA.
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FAQs:
What is Mr. Tod’s Pie Factory ?
Mr. Tod’s Pie Factory is a business that offers a variety of bakery food like muffins, cheesecakes, and most importantly Pies.
What's the net worth of Mr. Tod’s Pie Factory ?
The net worth of Mr. Tod’s Pie Factory during the pitch was $4,600,000 and was brought down to $920,000 by the sharks. The current net worth of the company is estimated to be $10 Million.