Stephanie and Daniel Rensing appeared on Shark Tank during season 3 to pitch their business called The Smart Baker. Their goal was to make life easier for people who love to bake by offering clever and useful baking products. The Smart Baker sells various tools that help bakers work smarter and not harder. They created the products to help others simplify baking at home and to reduce the time spent on tricky steps.
Some of the products they sell include cupcake stands, aprons with measurement cheat sheets, and cake pan parchment paper with tabs. They were looking for an investment of $75,000 for 25% equity in their company. Will the entrepreneur get a deal on Shark Tank? Check out The Smart Baker update to find out!
The Smart Baker Net Worth Shark Tank Update 2025
Daniel and Stephanie Raffel went on Shark Tank asking for $75,000 for 25% of their company. This meant they thought their business was worth $300,000. They made a deal with Barbara Corcoran for $75,000 for 40%, lowering the value to $187,500. The episode was aired on March 2, 2012. The company continues to thrive selling kitchen tools and baking accessories, earning around $1 million in yearly sales. Using the default 10% yearly growth method, the current net worth of The Smart Baker is estimated to be around $1.8 million in 2025.
After their appearance on Shark Tank Stephanie and Daniel Rensing still have their business running. The Smart Baker is still in business today and continues to sell baking products. They now make around $1 million in annual revenue. Their sales grew after their Shark Tank episode aired. They didn’t get the investment from Barbara Corcoran because the deal never closed.
However, the couple didn’t give up on their dreams. The company remains strong and successful. They sell their products on their website and also on Amazon. The Smart Baker has expanded its product line since the show. They now offer several types of cupcake stands and parchment paper. Their products continue to sell well with people who love to bake.
Yes The Smart Baker did get a deal on Shark Tank. Barbara Corcoran offered $75,000 for 40% equity in the company with a 5% royalty until the investment was paid back. The couple initially asked for $75,000 for 25% equity but Barbara was not willing to give them a deal at that offer. She offered to invest in a larger share of the company.
The couple decided to accept her offer and agreed to give up 40% equity. However, the deal was not finalized and the investment did not close. Despite this, the business has continued to grow and thrive. They are still in business and making a profit today.
| Shark(s) name | Offer & Demand | Counteroffer | Accepted? |
| Barbara Corcoran | $75,000 for 40% equity but added a 5% royalty until the investment was repaid | $100,000 for 40% equity with the 5% royalty | Yes |
| Robert Herjavec | Out | N/A | N/A |
| Kevin O’Leary | Out | N/A | N/A |
| Daymond John | $75,000 for 40% equity | N/A | N/A |
| Mark Cuban | Out | N/A | N/A |
The Smart Baker Shark Tank pitch
Stephanie and Daniel Rensing created The Smart Baker because they saw a need for better baking tools. They were both passionate about baking and wanted to make the process easier for other people. They started by designing products that would help bakers work more efficiently. For example their parchment paper with tabs made it easier to remove cakes from pans without tearing them.
They also created an apron with measurement conversions to help bakers save time when measuring ingredients. The couple wanted to simplify the baking process for people who wanted to bake at home but didn’t want to deal with complicated or frustrating tasks. Stephanie had been an elementary school teacher before she lost her job. She joined Daniel in running the company full-time. Daniel was already working full-time on the business and was dedicated to making it successful.
In the beginning, they faced many challenges including finding manufacturers and figuring out how to get their products in front of customers. They worked hard to get their products made and sold but their dedication paid off. Today the company is a success with products available online and in retail stores.
Stephanie and Daniel Rensing started their pitch on Shark Tank by introducing their products and explaining how they make baking easier. They highlighted their parchment paper with tabs which helped bakers remove cakes from pans easily without making a mess. They also talked about their cupcake stand which could hold multiple cupcakes and was easy to assemble.
Their goal was to help bakers work smarter, not harder. They were looking for an investment of $75,000 for 25% equity in the business. They hoped that with the investment they could grow their business and expand their product line. During their pitch, they told the sharks that they had sold $72,000 worth of products with $34,000 of those sales coming in the last three months.
They were on track to reach $140,000 in sales by the end of the year with a profit of $100,000. They shared that they were selling the products online and at trade shows. They also mentioned that the cupcake stand was their best-selling product. Stephanie and Daniel explained that the investment would be used to help them attend trade shows and grow their business.
The sharks were curious about The Smart Baker products and asked a lot of questions. Kevin O’Leary wanted to know how much the couple had sold so far. Daniel explained that they had made $72,000 in total sales with $34,000 coming in the last three months. The sharks were impressed with the sales numbers. Robert Herjavec asked how much they were expecting to make by the end of the year and Daniel said they were on track to make $140,000 in sales.
The sharks asked about the margins and Robert was impressed with the profitability of the business. Kevin O’Leary was interested in whether the couple was working on this full-time. Daniel explained that he was working full-time while Stephanie had been an elementary school teacher but was now working full-time on the business as well. Barbara Corcoran wanted to know how they were selling their products.
The couple told her they were selling online and through mail orders. Barbara asked what their best-selling product was and they mentioned the cupcake stand. Robert asked what they planned to do with the investment and Daniel said they hoped to use it for attending trade shows and growing their business. The sharks also wanted to know how they planned to scale the business.
They asked whether the couple had any experience with large-scale production and distribution.
Mark Cuban was the first shark to speak. He said he liked the idea but didn’t think he could add value to the business. He also didn’t feel he could help with the growth of the company so he decided to pass on the deal. Kevin O’Leary also decided to pass. He said he wasn’t sure about how to scale the business and wasn’t confident in the investment. Robert Herjavec also passed saying that he didn’t think he could add value to the company either.
He said he would love to be a customer but didn’t think he could help grow the business. Daymond John made an offer of $75,000 for 40% equity in the business. He believed in the products but was not familiar with the baking industry. Barbara Corcoran matched Daymond’s offer but added a 5% royalty until the investment was paid back. She believed she could help the business with her baking network and connections.
Barbara also said that Daymond didn’t know much about baking but she had experience in the industry. Daniel countered Barbara’s offer of $100,000 for 40% equity with the 5% royalty but Barbara refused. She stuck to her original offer of $75,000 for 40% equity and a 5% royalty. Stephanie and Daniel accepted her offer and walked away from the tank with a deal.
What Went Wrong With The Smart Baker On Shark Tank?
Although The Smart Baker got a deal on Shark Tank with Barbara Corcoran the deal never closed. The couple and Barbara couldn’t finalize the terms. However, this didn’t stop the company from growing. The couple continued to work hard and sell their products. They didn’t let the deal falling through stop them from pursuing their dreams. They continued to build their brand and grow their business.
The sharks were impressed with the couple’s dedication and the potential of the products but they all had doubts about whether they could help scale the business. Some of the sharks felt they couldn’t add value while others felt that they didn’t have enough experience in the baking industry. Despite this, the couple succeeded without the sharks’ help.
Product Availability
The Smart Baker’s products are available on their website and on Amazon. The company sells various products designed to make baking easier. Some of the popular products include cupcake stands, cake pan parchment paper with tabs, and aprons with measurement conversion cheat sheets. The company has expanded its product line since the Shark Tank episode aired.
They now offer several types of parchment paper and cupcake stands. The products are sold online and also through retail channels. The pricing varies depending on the product but they are generally affordable for home bakers. The Smart Baker’s website features all their products and customers can order directly from the site. They also sell their products on Amazon making it easier for people to find and buy them.
The company has built a solid reputation among bakers for providing high-quality products that help simplify the baking process.
Conclusion
The Smart Baker had a successful pitch on Shark Tank but the deal with Barbara Corcoran never closed. Despite this, the company has continued to grow and thrive. The couple has built a successful business and their products are still in demand. They have expanded their product line and are making a strong profit.
The Smart Baker has shown that even without the sharks’ help it is possible to grow a business with hard work and dedication. The company continues to offer products that help bakers work smarter, not harder and their success proves that there is a market for innovative baking tools.
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.
