Let Them Eat Candles Shark Tank Episode Update & Net Worth

Let Them Eat Candles Shark Tank Episode Update & Net Worth

Let Them Eat Candles, co-founded by Loree Sandler and Bob Michelson, is a unique company that produces edible birthday candles made from chocolate. The candles are designed to enhance birthday celebrations without the mess of traditional wax candles.

Let Them Eat Candles was featured in Season 15, Episode 17 of Shark Tank, which aired on March 15, 2024.  In their pitch, Loree and Bob sought $250,000 for 10% equity, valuing the company at $2.5 million. They showcased their innovative product, which lasts long enough to sing “Happy Birthday” and is available in both milk chocolate and dark chocolate. Key points from their pitch included:

• Sales Performance: They reported $675,000 in sales for the year prior to filming and projected $1 million in sales for the filming year.
• Cost Structure: The candles retail for $2.99 to $3.99, with a production cost of $0.85 and a wholesale price of $1.69.
• Market Presence: The candles are available in all Publix stores and are being tested in Albertson’s and Kroger.

During the pitch, the sharks expressed interest, but ultimately:

• Barbara Corcoran offered $250,000 for 25% equity.
• Lori Greiner countered with $250,000 for 18% equity, which Loree and Bob accepted.

After their appearance on Shark Tank, Let Them Eat Candles experienced a significant boost in sales and brand visibility. The company has continued to expand its distribution and is actively working to increase its presence in grocery stores. Customer reviews indicate that the candles have become a popular choice for celebrations.

The estimated worth of Let Them Eat Candles is approximately $1.38 million as of March 2024, reflecting their ongoing sales and growth since the Shark Tank appearance.

Let Them Eat Candles is still in business and continues to sell its innovative edible candles through various retail channels, including their website and Amazon. The company remains focused on expanding its market reach and enhancing the customer experience.

What is Let Them Eat Candles? How Does It Work?

Let Them Eat Candles is a line of edible birthday candles crafted from high-quality milk and dark chocolate. These candles are designed to burn just long enough for a celebratory song and photo session, after which they can be eaten as a sweet treat.

The candles come in a variety of prints, adding a decorative touch to any cake. While the candles themselves are fully edible, the wick is not, but it can easily be removed before consumption.

This innovative product offers a delightful solution to the common problem of wax dripping onto cakes during celebrations.

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Let Them Eat Candles brought a unique twist to birthday celebrations on Shark Tank during Season 15. Entrepreneurs Loree Sandler and her husband Bob Michelson introduced their premium edible birthday candles made from chocolate, which became an instant hit with the sharks.

After a competitive bidding process, they secured a deal with Lori Greiner for $250,000 in exchange for 18% equity. Since their appearance on the show, Let Them Eat Candles has seen a surge in sales, helping the company solidify its place in the market.

Let Them Eat Candles Shark Tank Full Episode; What Happened at Shark Tank Pitch?

In the Let Them Eat Candles Shark Tank episode, Loree Sandler and Bob Michelson asked for $250,000 in exchange for 10% equity, valuing their company at $2.5 million. They explained how the idea for edible candles came about when Loree, frustrated by traditional wax candles ruining her carefully baked cakes, decided to create a better alternative. After taking pastry and chocolatier classes, she developed Let Them Eat Candles, which quickly gained popularity.

The couple shared impressive sales figures, with $2.3 million in total sales since the company’s inception and $675,000 in sales the year before filming. They projected $1 million in sales for the current year, with a profit of $100,000. Their goal was to expand into major grocery chains, and they were already available in Publix and testing in Albertsons and Kroger.

While Kevin O’Leary and Robert Herjavec liked the product, they declined to invest due to concerns about the company’s scalability and market competition.

Mark Cuban also passed, doubting the potential for high enough sales to make the business investable. Barbara Corcoran made an offer of $250,000 for 25% equity, while Lori Greiner offered $250,000 for 20% equity with half as a loan.

The couple countered, asking if the sharks would consider going in together for 15% equity, but Lori Greiner opted to go solo, revising her offer to $250,000 for 18% equity. Finally, Loree and Bob accepted Lori’s offer, securing a strategic partner who could help them navigate the retail space.

What Happened to Let Them Eat Candles After Shark Tank?

After their Shark Tank appearance, Let Them Eat Candles experienced a significant boost in sales, driven by the exposure from the show and the partnership with Lori Greiner.

The company has continued to expand its product line, adding more decorative, edible candles to appeal to a broader audience. Let Them Eat Candles is still in business, and the founders are working hard to fulfill the increased demand for their innovative product.

How Much Is Let Them Eat Candles Worth?

As of 2024, Let Them Eat Candles is estimated to be worth around $2 million. This valuation reflects the company’s strong sales performance, growing market presence, and the strategic partnership with Lori Greiner.

 The unique nature of the product and its appeal to consumers looking for something special in their celebrations have helped the company maintain steady growth.

Is Let Them Eat Candles Still in Business?

Yes, Let Them Eat Candles is still in business and thriving. The company continues to innovate, with new product lines and expanded distribution in major grocery stores. The deal with Lori Greiner has provided valuable support in scaling the business and reaching more customers across the country.

Which Episode Number Was Let Them Eat Candles on Shark Tank?

Let Them Eat Candles appeared on Shark Tank in Season 15, Episode 17, which aired on March 9, 2024. In this episode, Loree Sandler and Bob Michelson presented their edible birthday candles to the sharks, seeking an investment to help grow their business and expand into larger retail chains.