Have you been making delicious food at home but can’t find a proper and efficient way to store it in the fridge due to problems using it later? Fret not, Souper Cube comes to your rescue with their simple freeze trays divided into equal sections to store leftovers in and the rubbery texture of the trays allows you to remove the amount you need without making a mess in the kitchen.
These trays can become a household trend if handled well. Will the sharks want to invest in the idea? let’s find out.
Souper Cubes at a glance:
| Business idea | Freeze trays for leftovers |
| Founder | Jake and Michelle Sendowski |
| Asked for | $400,000 for 5% |
| Accepted deal | $400,000 for 5% |
| Sharks | Lori Greiner |
| Business status | In business |
| Episode | Season 12, Episode 14 |
| Website | Souper Cubes |
| Buy on Amazon | Buy Now! |
Index:
Founder Story:
The founders of Souper Cubes, Jake and Michelle Sendowski, got the idea for their product when they were preparing soup, one of their favorite dishes, and were thinking about an efficient way to store the remaining leftovers in the fridge since the portion sizes in ice cube trays were too small and it was difficult to remove the dish without trouble, and then they had the idea of Souper Cubes!
Jake’s skill and Experience in engineering and Michelle’s insight helped them create this new range of products with 100% food-safe materials while also keeping to a simplistic but impressively multi-use design that seems to have been valuable to many of their customers over the country. They now come to Shark Tank to find an investor and mentor to help them take their business to the next level.
Did Souper Cubes get a deal on Shark Tank?
The founders, Jake and Michelle Sendowski introduce themselves to the sharks asking $400,000 for a 5% stake of their company, named Souper Cubes, which Marks really seems to like. They then start off their pitch by showing them a demonstration of their trays by showing the example of a man named Jerry and how he uses the product to store his leftovers, while explaining the various aspects of the trays, like the portion sizes, the steel rim to keep the shape and the lid to help stack them.
They then give the sharks some samples and they seem to like the simplicity of the product. Kendra Scott, a guest Shark, also mentions how this could help her for storing food for her child. They mention that they have a design patent on one version of the trays, with the others pending. Lori then asks about sales, to which the founders say that they had done $948,000 in 2019, with $1.6million in that year, and project to have $3.3million in the coming year, which amazes the sharks.
They say that the trays cost $3.80 to make and are sold at $19.995, with the sales being distributed as 74% from Amazon, 8% from their website, and the remaining 14% coming from their products in retail stores. Barbara asks why they need a shark to which Michelle says that a shark will help them make the right choices in distribution, sales, and other aspects while acting as a mentor to them.
Mark backs out because he isn’t interested, Kevin then starts the offers at either $400k for a 3% stake where he gets 40c royalty per unit, which he later amends, till he has received $ 1 million, or $400k at a 15% stake. Barbara also places an offer for either $400k for 10%, or $800k for 20%, which the founders are reluctant to accept either. In the end, Lori comes in and blows both Barbara’s and Kevin’s deals out of the water when she says that she will offer the company her golden ticket along with the deal for their original ask of 5% stake, after which Kendra also backs out because she can’t compete with that. The founders graciously accept the deal.
What happened to Souper Cubes after Shark Tank?
Souper Cubes growth didn’t just stop at the post Shark tank exposure boost. They ran out of inventory just 24 hours after airing with over $938,000 in sales, which is insane. They have done $8.6 million since airing, with over $ 14 million in lifetime sales. Talk about a simple idea going a long way! Lori surely lucked out with her deal with this company, while also being able to help Jake and Michelle so much.
Product details:
- The product consists of a variety of freeze trays of food-safe silicone, which are available in a variety of colors, as well as varying portion sizes of the sections, to be used for various food products.
- The products range from $19.95 to $69.99, depending on the type of tray, material, and Quantity.
- The company can be contacted at, help@soupercubes.com.
- The company is based out of Palo Alto, California.
Competitors of Souper Cubes
Some competitors of this company are-
- Kitchen Swag LLC
- eKitchen Products Inc.
- Polish Pottery House Inc.
- Cooks of Crocus Hills Inc.
What is the net worth of Souper Cubes?
We estimate the net worth of Souper Cubes to be around $ 8 million as of 2022, by which we surely know that this company has surely grown exponentially since appearing on shark tank with its $ 2 million valuation.
Is Souper Cubes still in business?
Yes, this company is still in business, at around $ 3 million in annual revenue, with their products available on Amazon and on their website, SouperCubes.com, as well as in well-known stores throughout the country, like Sur La Table, Williams Sonoma, Crate-Barrel and Bed-Bath and Beyond.
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FAQs:
What is Souper Cubes?
Souper Cubes is a simple freeze tray divided into equal sections to store leftovers in and the rubbery texture of the trays allows you to remove the amount you need without making a mess in the kitchen.
Who founded Souper Cubes?
The founders of Souper Cubes, Jake and Michelle Sendowski, got the idea for their product when they were preparing soup, one of their favorite dishes, and were thinking about an efficient way to store the remaining leftovers in the fridge since the portion sizes in ice cube trays were too small and it was difficult to remove the dish without trouble, and then they had the idea of Souper Cubes.