Many children have Celiac Disease and can’t play with traditional wheat-based modeling clay. To solve this problem, Sawyer Sparks invented Soy-Yer-Dough, a gluten-free, non-toxic, and fun-scented modeling clay.
He wants to expand his business, open a factory, and create jobs for his community. So, he came into Shark Tank and asked the Sharks for $125,000 in exchange for 25% equity in his company. Let’s find out about the funding, recap, and current status of this business.
| Company Name | Soy-Yer-Dough | |
| Founder/Co-Founder | Sawyer Sparks | |
| Founded | 2008 | |
| Product | modeling clay | |
| Asked For | $150K for 25% equity | |
| Final Deal | $300K for 51% equity | |
| Shark | Kevin O’Leary, Robert Herjavec, & Daymond John | |
| Episode | S1 E7 | |
| Air Date | Sep 29th, 2009 | |
| Business Status | Acquired by SPGX | |
| Website | Visit Website | |
| Headquarters | Bloomfield, Indiana, United States | |
| Lifetime Sales | $5M *estimated | |
| Buy and Watch | Buy Now | Amazon Prime |
Business Pitch Episode Recap
Sawyer revealed that 1 in 8 children in America has Celiac Disease and his competitor sells 12-96 million clay containers annually. Since February 2008, he has sold 8,000 containers, with all sales coming exclusively from online orders.
The good news is that he has a provisional patent for his product. To keep prices sustainable, he manufactures all the clay in his kitchen with the help of his mom and girlfriend, producing 12 containers every 10 minutes.
He also revealed another surprising fact: the biggest Play-Doh manufacturer, Hasbro, is interested in Soy-Yer-Dough’s patent and has offered $500,000 for the entire patent. However, Sawyer feels this amount is too low, so negotiations are still ongoing.
Kevin O’Leary offered $125,000 for 51% equity. However, Daymond John, Barbara Corcoran, and Kevin Harrington stated that Kevin O’Leary would be a good partner for a licensing deal, so they are out.
Sawyer countered Kevin’s offer with $125,000 for 40% equity. Robert Herjavec also offered $125,000 for 40% equity. Kevin, Daymond, and Robert then teamed up and offered $300,000 for 51% equity. Finally, Sawyer accepted this offer.
Sharks Offers list!
| Sharks | Offers |
|---|---|
| Kevin Harrington | No Offer |
| Kevin O’Leary | $125k for 51% equity $100k for 17% equity (Daymond & Robert) |
| Robert Herjavec | $125k for 40% equity $100k for 17% equity (Daymond & Kevin) |
| Barbara Corcoran | No Offer |
| Daymond John | $100k for 17% equity (Robert & Kevin) |
| Founder’s (Countered) | No Counter |
| Final Deals | $300,000 for 51% equity |
Soy-Yer-Dough Shark Tank Update
After the deal was made, Sawyer began negotiating with Kevin and the other two Sharks for a licensing deal with Hasbro. However, due to issues regarding the deal amount and other factors, this negotiation did not come to fruition.
During our research on the Soy-Yer-Dough update, we found that on May 13, 2020, Sustainable Projects Group Inc. acquired 100% rights to Soy-Yer-Dough. However, no disclosure was made regarding the amount of the deal.
If you’re still interested in learning more updates about Season 1 businesses, below are some links shared.
