David Scharfman brought his product, Just the Cheese, to Shark Tank. Snacks made entirely of cheese are produced by Just the Cheese. His goal was to provide consumers with a crispy snack that was composed entirely of real cheese. His passion for the crispy cheese that emerges when making grilled cheese sandwiches served as the inspiration for the product.
For many years, David’s family has been producing cheese in Wisconsin. He founded Just the Cheese after failing in his attempt to export Wisconsin cheese to Asia. When David signed up for Shark Tank, he wanted $500,000 for 5% of his business. Will the entrepreneur get a deal on Shark Tank? Check out Just the Cheese Update to find out!
Just the Cheese Net Worth Shark Tank Update 2025
David Scharfman asked for a $500,000 investment in exchange for 5% equity in his company. This meant he valued his company at $10 million. He left without a deal, as none of the Sharks’ offers met his expectations. After the show aired, Just the Cheese saw a big increase in website traffic, sales, and social media exposure. In 2022, Just the Cheese was acquired by John B. Sanfilippo & Son Inc., with annual sales of approximately $4 million at the time. With an estimated 10% yearly growth rate (typical business growth), the current net worth of Just the Cheese is about $4.84 million.
Just the Cheese continued to flourish after Shark Tank. As of 2024, the firm is still operating. It gained a lot of popularity among those looking for keto-friendly and low-carb snacks. John B. Sanfilippo & Son Inc. purchased Just the Cheese in 2022 for a sum that was not disclosed to the public. Just the Cheese’s annual sales at the time of the sale were around $4 million.
Many stores now only carry Cheese items. They are available online at Amazon, Target, and Walmart. Additionally, the company sells its snacks on its own website. Today, David Scharfman is a co-owner of Specialty Cheese Company. He continues to work with cheese but in new ways.
David Scharfman was not given a deal. None of the Sharks accepted his offer of $500,000 for 5% of his business. The offer from Kevin O’Leary was not what David was looking for. In return for a $0.20 royalty for each bar sold in perpetuity, Kevin promised $500,000.
David disliked that proposal since he believed it would ultimately be too costly for the business. Lori Greiner offered, too. She offered a $0.15 royalty per bar for $500,000 till she recovered $750,000. That bargain did not sit well with David either. He believed the corporation would be under too much strain.
| Shark(s) name | 500k for 5 cents for 10 years | Counteroffer | Accepted? |
| Daniel Lubetzky (guest shark) | Out | N/A | N/A |
| Lori Greiner | $500,000 for a $0.15 royalty per bar until she made back $750,000 | N/A | N/A |
| Kevin O’Leary | $500,000 in exchange for a $0.20 royalty per bar sold, in perpetuity (forever) | 500k for 5 cent for 10 years | N/A |
| Robert Herjavec | Out | N/A | N/A |
| Mark Cuban | $500,000 for 15% equity | $500,000 for 7.5% equity | N/A |
Just the Cheese Shark Tank pitch
David Scharfman hails from a Wisconsin family that has a long history of producing cheese. His family has extensive knowledge and has been in the cheese industry for many years. Their attempt to sell Wisconsin cheese in Asian markets was unsuccessful. David made a few attempts before deciding to try something different.
When creating grilled cheese he admired how the cheese gets crispy and adheres to the pan. This gave him the idea to create a snack that had the same crunch and cheesy flavour.
Early on at Just the Cheese David had difficulties. He needed to figure out how to produce the cheese snacks in bulk without sacrificing their flavour or freshness. He had to figure out how to sell them online and in stores as well. The market for snacks was highly competitive. Cheese snacks were already being produced by numerous other businesses. But since his product was made entirely of cheese and contained no fillers, David thought it was unique.
When David went to Shark Tank, he asked for $500,000 for 5% of his business. “Just the Cheese makes only cheese snacks,” he explained. When the treats are baked, they become crunchy and crispy. David claimed that his product was ideal for anyone looking for a low-carb snack. He added that since the snacks don’t include any carbohydrates, they are keto-friendly.
He informed the Sharks that the company’s sales for the year had already reached $3.7 million. 7/11 had just placed an order for the snacks, and they were sold at 700 outlets. They were also selling products on their website and on Amazon. They cost $0.95 to create each cheese bar, which retails for $1.99. David claimed that the business was expanding quickly and had a lot of potential.
Regarding Just the Cheese, the Sharks had a lot of queries. Kevin O’Leary was curious about the low-profit margins. He brought up the fact that the company’s profit margin on each bar was approximately 17% to 20%. David clarified that the business was still expanding and that eventually, the margins would improve. He said that efforts were underway to reduce the price of producing each bar.
Lori Greiner revealed that she had previously purchased the treats from Amazon. Although she was pleased with the product, she was concerned about the level of market rivalry. The competition also worried Daniel Lubetzky. He said that numerous other businesses were producing comparable goods.
The first Shark to make a bid was Kevin O’Leary. In exchange for a $0.20 royalty on each bar sold indefinitely, he gave David $500,000 and he could also help him with the distribution. David disliked this offer because he believed it would have long-term negative effects on the business. He said that it would overburden the company.
Robert Herjavec claimed that although he enjoyed David’s pitch the snacks’ flavour did not appeal to him. He quickly withdrew from the agreement. Daniel Lubetzky left as well.
He claimed that David had done a fantastic job with the branding but there were too many identical products on the market. Lori Greiner was pleased with the product but she was not pleased with David’s meager equity offer. She also left. Lori returned with an alternative offer before departing. Until she recovered $750,000, she offered $500,000 for a $0.15 royalty for each bar.
This bargain did not sit well with David either. That amount of money would be too difficult for the business to repay, he claimed. Additionally, Mark Cuban made an offer. He made a royalty-free offer of $500,000 for 15% of the business. David declined Mark’s offer as well since he did not want to give up so much of the business. David ultimately left Shark Tank without closing the deal. He said that the Sharks’ offers were too much for him to accept.
What Went Wrong With Just the Cheese On Shark Tank?
A couple of things went wrong for Shark Tank’s Just the Cheese. The profit margin was one of the primary problems. The company’s 17% to 20% profit per bar did not sit well with the Sharks. As Kevin O’Leary noted, this was too low for a business that was expanding so quickly. The Sharks remained unconvinced despite David’s explanation that they were trying to reduce the expenses. The competition was another problem.
The fact that too many other businesses were producing comparable cheese snacks alarmed a few of the Sharks. According to Lori Greiner and Daniel Lubetzky, there are already a lot of cheese snack brands in the market. In such a busy market, they believed it would be difficult for Just the Cheese to stand out. Robert didn’t like the taste of the product, which is why he also chose not to invest
The Sharks’ Offers presented another challenge. Kevin O’Leary desired a perpetual $0.20 royalty on each bar sold. Because he believed the deal would be too costly for the business, David did not like it. David did not like that Lori Greiner’s offer included royalties. David didn’t want to give up more than 15% of the business that Mark Cuban was offering. David ultimately left without a partner since he was unable to accept any of the agreements.
Product Availability
People are still allowed to purchase just the cheese. Stores like Walmart and Target sell the snacks. Additionally, they can be found on the Just the Cheese website and on Amazon. The brand offers aged cheddar and grilled cheese as well as other cheese bar flavours. Each bar is composed entirely of real cheese and contains only 75 calories.
There are two cheese bars in each pack. They are cooked in the oven until they are crunchy and crispy. They are popular because they are keto-friendly and low in carbohydrates. Smaller chunks of baked cheese called cheese crisps are also sold by the company. There are no additional ingredients or fillers in the snacks. Only shredded cheese is used to make these.
Conclusion
On Shark Tank, Just the Cheese had a unique experience. David Scharfman had a fantastic product and impressive sales figures when he arrived at the show. Although the Sharks approved of the concept, they were worried about the competition and profit margins. Even though David didn’t sign a contract with any of the Sharks.
He continued to expand his business following the show. In 2022 Just the Cheese was sold to John B. Sanfilippo & Son Inc. for a price that was unknown. The company’s annual revenues at the time of the sale were approximately $4 million. Just the Cheese is still operating today and can be found selling its products at Walmart and Target. David is still involved in the cheese industry with his current business Speciality Cheese Company.
Hi, I’m Laiba Khurram, a BBA student specializing in Marketing at FAST NUCES ISB. My background includes experience in finance, marketing, and event coordination. My skills include teamwork, time management, and Microsoft tools. Watching Shark Tank has always inspired me, as I admire the innovative pitches and entrepreneurial spirit showcased on the show. This passion drives my approach to finding creative solutions and understanding market dynamics. Read more About me.
