|
Net Worth |
$10 million |
|
Company Name |
Just the Cheese |
|
Founder |
David Scharfman |
|
Nationality |
American |
|
Gender |
Male |
|
Profession |
Entrepreneur |
|
Age |
No Info |
|
Marital Status |
No Info |
Just the Cheese is a company that produces and sells a simple yet delightful snack made wholly of pure Wisconsin cheese. Its special formula makes the snack taste like the crispy ends of a grilled cheese sandwich. Just the Cheese net worth is quite interesting.
The yummy snack is also jazzed up with a variety of flavors, most of which include a healthier and lower amount of carbon. This is especially done to suit many people’s taste for crunch and salt. It also provides a glutton-free option for many people.
Just the Cheese Net Worth
Just the Cheese net worth is estimated to be more than $10 million. Just the Cheese net worth has come so far.
Just the Cheese Founder
The founder of Just the Cheese is the Scharfman family, which is based in Wisconsin and is famous for making cheese. The Just the Cheese snack was invented by David’s father in 1991, who manufactured the snack and marketed it effectively for several years.
Later, as David Scharfman grew up and took up the responsibility for the bulk of the work of the company, he relocated to the east coast and started working as a consultant as a side job. There, the brand slowly faded away, and manufacturing for the snacks stopped as the sales and demands declined.
In 2017, David Scharfman and his wife bought a cheese snack and thought of it as a superior product that could generate a lot of sales. So, he contacted his father and asked if the production of the cheese snacks could restart.
When given a positive answer, David Scharman and his wife returned to Wisconsin and started rebranding the company into one that would be more effective in its manufacturing and marketing.
Just the Cheese During Shark Tank
David Scharman entered Shark Tank looking for a deal and a potential business partner who could assist David Scharfman in scaling and distributing the products of Just the Cheese. David started his pitch by asking for $500,000 in exchange for a 5% stake in his company. This showed that he valued his company at $10 million.
David further presented his company and offered the Sharks some samples from the company, which the Sharks liked. The Sharks were particularly impressed with the sale figures i.e. sales worth $3.5 million in 2018, and $3.7 in the first eight months of 2019.
Kevin O’Leary offered $500,000 in exchange for a 5% stake in the company with a 20-cent royalty per bar. Lori offered $500,000 in exchange for a 5% stake in Just the Cheese with a 15-cent royalty per bar. Mark offered $500,000 in exchange for a 15% stake in the company.
However, David Scharfman turned down all the offers and eventually left Shark Tank without securing any deal with any of the Sharks. He believed that the royalties included in the offers would greatly reduce his cash flow.
Just the Cheese After Shark Tank
Although David Scharfman did not agree to any of the offers by the Sharks, Just the Cheese expanded its retail business and is now available in almost every major supermarket chain. The products of the company are also available on famous online stores like Amazon.