Noshi Food Paint Shark Tank Update – Net Worth 2024

Tom Delaney arrived on Shark Tank Season 14 Episode 21 to pitch his one-of-a-kind and purpose-oriented business idea of an edible, all-natural fruit puree that can be used for food paintings. This puree comes in small packaging of tubes with different flavors.

These nifty little tubes come in different flavors such as strawberry, peach, or mango for fruity flavors or condiments like ketchup, mayonnaise, mustard, and much more. But did Tom manage to strike a deal with the sharks on his one-of-a-kind business module?

Noshi Food Paint Net Worth

Tom Delaney asked for a $250,000 investment in exchange for a 17% equity in his company. He valued his company at approximately $1.47 million at the time of the show. He successfully secured a deal with Mark Cuban for an investment of $250,000 in exchange for 25% equity. The investment adjusted its valuation to around $1 million. After the show aired, the company experienced a boost in website traffic, sales, and social media exposure. As per my rough estimate, with the 10% growth rate (typical business growth) over the years, the current net worth of Noshi Food Paint is around $1.1 million.

Noshi Food Paint Shark Tank Update

What Happened To Noshi Food Paint After Shark Tank?

After the airing of the Shark Tank episode, Tom’s company made some significant changes in its branding and design language, making the packaging more eye-catching and consumer-oriented. They also started retailing on online stores such as Amazon as well as their retail site

Did Noshi Food Paint Get a Deal On Shark Tank?

Tom Delaney gave the sharks an offer of $250;000 for 17%. The sharks were very concerned about Tom’s awful profit margins. One by one each of the sharks opted out of Tom’s deal until it all came down to Mark Cuban he made this very clear that if Tom and Mark were to cut a deal Tom would have to work on his profit margins and the packaging of his product which according to Mark were imparting no information to the consumer about the product.

Shark(s) Names	Offer and Demand	Counteroffer	Accepted?
Kevin O’Leary	N/A	N/A	N/A
Mark Cuban	$250,000 for 25% stake	N/A	YES
Barbara Corcoran	N/A	N/A	N/A
Lori Greiner	N/A	N/A	N/A
Daymond John	N/A	N/A	N/A

Founders Backstory

Tom’s back story is very humbling and of great importance. He says that he once saw a Vogue magazine that belonged to his mum and that day, he decided that he knew that he wanted to join the fashion industry. He worked in the fashion industry until the point that he wanted to be a stay-at-home dad, that’s when he found out how much of a picky eater his children were and that’s where he got the idea for this business to make products for desperate parents which develop children’s interest in food.

Initial pitch

Tom arrived on the Shark Tank to showcase his brand Noshi Food Paint, which was aimed at helping desperate parents get their children to eat food that they don’t like by making it interesting to eat.

He initially asked the Sharks for $250,000 for 17% of his company. He stated that he was a staunch believer that this business would flourish and go to new heights.

He explained that when the children make smiley faces or write letters on boring foods such as pancakes, they would wanna eat those things themselves.

Queries About The Product

The first question came from Daymond John. He asked Tom how much one container sells for to which Tom replied that each container sells for $5.46 and the cost of producing one is $2.72.

Mark Cuban inquired about the wholesale cost of each pack of three containers, which, according to Tom, was $3.70.

Daymond next inquired about the sales, to which Tom replied that last year he made sales of about $117,00.

Kevin O’Leary asked Tom about the current year’s sales, to which he replied that this year to date, he made around $80,000 and was estimated to sell around $200,000.

Kevin next inquired about the number of stores Tom was selling his product in, to which he replied that he was selling his product in almost 370 Walmart stores

The next question came from Mark he inquired about the total online sales of Noshi Food Paint, to which Tom replied none.

Daymond asked Tom where his company was based, to which Tom replied that he and his company were based in New York

Lori Greiner asked Tom where he was before he started his company to which he replied that he grew up in the English countryside and once he saw his mum’s Vogue magazine he thought to himself that he wanted to work there and by the age of 19 he was working with vogue magazine but in 2010 when his son was born he realized that he has grown out of his job and decided he wanted to be a stay at home dad.

This time around, Tom found out that his kids were very picky eaters, and hence, he came up with the idea of food paint to make food interesting for children who are picky eaters. He adds that it took him a year to find a formulator, and it took him 18 months to get the formulas to a point where Tom was happy with them, and he launched in 2017.

The next question also from Lori Greiner was asking Tom how Walmart felt about the sales of Tom’s company to which he replied that he heard that Walmart was going to put one of his products called “Sketchup” into 1500 stores next year.

Lori again inquired if the products were sold at Walmart, to which Tom replied that the last three production runs were the first three ever that they sold through.

Sharks Response and Final Deal

The sharks were pretty impressed with the uniqueness of Tom’s business but they were concerned about the lack of sales which they pointed out could be due to several factors like unattractive packaging, no online presence, etc. One by one, all the sharks opted out of Tom’s deal until it came down to Mark alone. Mark made some things very clear, including the fact that Tom needed new attention-grabbing packaging and a new strategy for the way they showcase their products, on which Tom showed a complete willingness to make amends. Finally, Mark made an offer to Tom, which was $250,000 for 25% equity in the company, plus they would remodel his business. Tom agreed to this offer, and the deal was closed.

Product Availability

Tom’s company Noshi Food Paint has a wide variety of products that are available in 1500 wal-mart stores as well as their online retail store and Amazon

Conclusion

Noshi food paint is an organic food paint that comes in a variety of different flavors and is a great invention for desperate parents trying to get their children who are picky eaters to eat the food. This company has a very, very unique selling point, which is one of its kind and never seen before anywhere. Tom did have a tough time convincing the Sharks with his low-profit margins and unattractive packaging, but he somehow managed to strike a deal with none other than Mark Cuban himself, definitely a presentation worth seeing.