What Is Spoonful of Comfort?
A spoonful of Comfort is a care box that they can deliver to a friend or family member to let them know they’re thinking of them or to send their best wishes. It was created as a care gift for sick relatives. It has steadily grown to incorporate new products such as Pregnancy Care and Birthday Care.
Soups come in three different flavors: chicken, tomato basil, and potato leek. 64 ounces of soup, six buns, six cookies (chocolate chip, oatmeal raisin, or sugar), a serving ladle, and a handwritten message card are all included in each gourmet care package.
Customers may upgrade their $69 package by adding tea, inspirational books, blankets, and other products. The soup has gel ice packs that have been flash-frozen. They can keep it fresh for a few days if they keep it refrigerated or frozen when they acquire it.
Who Are the Founders of Spoonful of Comfort?
A spoonful of Comfort was founded and is run by Marti Wymer. She was ultimately joined by Scott Gustafson, an investor. After discovering that her mother had been diagnosed with cancer, Wymer came up with the idea for the firm in October 2007.
She couldn’t see her mother since she was in Florida with her children and had just returned from a visit to New Brunswick, Canada. She thought about how she might comfort her mother and decided to bring some homemade chicken soup.
She returned the favor since her mother had always calmed her in this manner. Her mother, however, died only six weeks afterward. To honor her mother, Wymer launched Spoonful of Comfort, which allows individuals to send delectable gift baskets to loved ones who reside far away.
What Happened to Spoonful of Comfort at The Shark Tank Pitch?
Marti and Scott went on Shark Tank season 8 episode 1 and asked for $400,000 in exchange for a 10% interest in their company. This is worth $4 million. They give the Sharks samples of chicken and tomato soup before delivering their pitch and telling their story.
The Sharks are shocked to learn that each care package costs $69.99 plus $14.99 shipping. It cost them $18 to get a customer and $31 to make the items when they initially started. They clearly lost all of their profit margins when they sold it for $35.
Despite this, they sold $100,000 the year before. Barbara departs after learning that the firm has received a $1.3 million investment from another investor. Mark also departed, stating that he believed they were in the marketing business but that they were terrible at it and that the Sharks would pick up the slack.
The notion piqued Daymond’s interest. However, he considered that their target market was too small and that their current price would not allow them to grow. He dragged himself out.
Lori likes the soup, but she doesn’t see a Spoonful of Comfort becoming profitable. She thought Marty and her friend could pull it off, but it wasn’t scalable. She exited the room.
Robert believes they’ve been in company for five years and have yet to iron out the wrinkles; he’s quitting.
Kevin was fully aware that the problem was the high cost of customer acquisition, but he had no clue how to help them reduce it. He opted not to invest as a result of this. After thanking the Sharks for their time, the entrepreneurs walked off stage.
After the Shark Tank Pitch, What Happened to Spoonful of Comfort?
Following the Tank, this firm made several changes. They’ve expanded their soup menu as well as special occasion packages (Get Well, Sympathy, New Parent, etc.). The Sharks’ counsel on scalability appears to have been taken to heart by the two entrepreneurs.
They’ve introduced new cookie-only packaging as of August 29, 2017. According to their blog, purchasers may get two to four dozen of any of the four different flavors of cookies for free two to three days of shipping. A handwritten letter with an advance in addition to the box is included in each Spoonful of Comfort.
The cookies are priced at $19.99 for two packets. This sector benefited from the Covid-19 epidemic of 2020. As of May 20, 2021, they’d made a total of $68 million since appearing on Shark Tank.
A Spoonful of Comfort’s Net Worth :
Marti and Scott sought $400,000 for a 10% interest in their company on Shark Tank. This is worth $4 million. Since the company has expanded, the current valuation is obviously higher.