For more than a decade, Shark Tank has helped entrepreneurs across the United States make their dreams come true. When Marquez and Ondrea Fernandez appeared on the show in 2018, they were looking for an investment in their healthy donut company, The Dough Bar. They were asking for an investment of $300,000 in exchange for 15% equity in their company. Marquez and Ondrea were ultimately able to strike a deal with Barbara Corcoran who offered them $300,000 for 20% equity. In the years since The Dough Bar was featured on the show, many viewers have wondered what the brand is up to now. Keep reading to find out what happened to The Dough Bar after appearing on Shark Tank.
What Is The Dough Bar?
Before we talk about the company and everything it’s been through over the years, I thought it would be helpful to explain exactly what The Dough Bar is. According to the company’s website, The Dough Bar was founded in 2015 because Marquez and Ondrea were unable to find a healthy protein-based snack that also tasted good. As the website states, The Dough Bar offers “a healthier alternative to traditional doughnuts for a number of reasons. They’re not only baked (versus fried), but they’re also packed with protein! Our raised doughnuts now have 13 grams of protein, and our cake doughnuts have 12 grams of protein”.
How The Dough Bar Got On Shark Tank
Since being on Shark Tank is such a big opportunity, getting chosen for the show isn’t easy. If anyone knows this, it’s Marquez and Ondrea. The first time the couple auditioned for the show, they weren’t chosen. Although they could’ve easily given up, they decided that nothing was going to hold them back. They decided to audition for the show a second time despite the fact that Ondrea was seven months pregnant and they had to drive eight hours for the audition. Their decision paid off and they ended up being selected for the show.
How Have Things Been For The Company Since Shark Tank?
It goes without saying that appearing on Shark Tank can completely change the trajectory of a business. In fact, even many companies that weren’t able to secure a deal on the show were still able to grow thanks to the exposure they gained from their episode. However, getting a deal is especially beneficial. Not only does a deal come with a lot of financial support, but it also comes with advice from a Shark which can be priceless. Needless to say, getting Barbara on The Dough Bar team was a move in the right direction. When Marquez and Ondrea appeared on the show, The Dough Bar was only an eCommerce business that sold products directly through the business website. However, after reaching $2 million in sales, Marque and Ondrea decided to open a brick-and-mortar business. All of the Shark Tank fans out there know that this can be a very risky decision and it proved to be exactly that for The Dough Bar.
In 2019, an article from The Coloradoan reported that The Dough Bar filed for chapter 11 bankruptcy. The article stated, “Ondrea Fernandez said the couple made a strategic decision to reorganize their company’s debt in order to continue operating the business. Moving from California required “an onslaught of capital,” but they still have “high hopes and a great vision for the company,” she said. “We are praying to rise above the challenges. We plan to be around a long time.” At the time, The Coloradoan reports at the time also stated, “The Dough Bar LLC has $599,000 in assets and more than $774,115 in secured and unsecured debt. It reported more than $2.1 million in gross revenue in 2018 and $830,712 through June this year.” Although filing for bankruptcy is the beginning of the end for lots of businesses, The Dough Bar was able to bounce back. The company is still open and things seem to be going well. The Dough Bar currently has 191,000 followers on Instagram and the audience seems to be very engaged.
What’s Next for The Dough Bar
While we weren’t able to find any solid information on the company’s specific plans, we do know that Marquez and Ondrea are always looking for ways to grow the company. It seems likely that they will introduce more products in the years to come while also staying committed to providing quality ingredients and great taste. Despite the fact that The Dough Bar has had lots of ups and downs since Shark Tank, the business continues to be one of the show’s many success stories.
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