Just the Cheese Net Worth 2023: Just the Cheese is a simple and delicious snack that is made from only real Wisconsin cheese. Its signature recipe is meant to taste like the crispy ends of a grilled cheese sandwich, and each Just the Cheese snack is hand-shredded, crumbled, and baked at a family-owned cheese factory in Wisconsin.
David Scharfman comes from a family in Wisconsin that makes cheese, and his father came up with the idea for the Just the Cheese snack. Just the Cheese has Net Worth of $10 million.
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About: Just the Cheese Net Worth 2023
In 1991, the Scharfman family started a cheese business in Wisconsin called Specialty Cheese Producer. David’s father made the snacks and sold the company’s goods for many years with great success. During the height of the Atkins Diet, they were very popular. David says that since he started working as a consultant on the East Coast, he has come to think that the brand has “faded away.” In 2017, he and his wife bought a baked cheese snack when they went to the store.
David’s favorite product was Just the Cheese, so he called his dad to ask if they could start the business up again. When he moved back to Wisconsin, he and his wife changed the name of the business. Just the Cheese is sold in thousands of stores across the country, making it easy to find. You can choose from bars and “minis,” which are smaller crisps. A 12-pack of bars with two in each pack costs $23.88 and a 16-pack of minis costs $18.99.
Just the Cheese Net Worth 2023
|Name||Just the Cheese|
|Company Net Worth:||$10 million|
|Asked For:||$500,000 for 5% equity|
|Episode||Season 11 Episode 19|
How did “Just the Cheese” get its start, and who was concerned?
Scharfman remade the best-selling snack from the Specialty Cheese Company and called it “Just the Cheese.” His father came up with the idea for the product, but when David moved to a different city a few years later, the business went off track.
David and his wife bought baked cheese in 2017. The business owner knew their product tasted much better after they tried it. So, he called his dad and asked if they could start making their cheese snack again. His dad said yes.
They made bars that fit the keto diet that were made out of shredded cheese and nothing else. There were also crisp bars and little ones that could be eaten in one bite. With this, the recovering entrepreneur made $3.7 million in his first year of business.
Just the Cheese Shark Tank Pitch
In the 19th episode of the 11th season of Shark Tank, David Scharfman looks for a deal for his crunchy cheese snack, Just the Cheese. He wants a partner who can help him grow the business and get the product to more people.
David walks into the presentation and says that he wants $500,000 for a 5% stake in his $10 million company.
He tells his story and gives out samples. Lori remembers that she bought the things from Amazon. All of the Sharks like to taste things.
They are especially happy with the sales numbers, which were $3.5 million in 2018 and $3.7 million with four months left in 2019. The family put $1 million into the business on its own.
Because a two-pack costs $0.95 and sells for $1.27 per bar, the profit margin isn’t very big. Kevin jumps into the competition and offers $500,000 for 5% of the company’s stock in exchange for a 20 cent royalty on every bar for the rest of time.
After some back and forth with Kevin, Lori offers $500,000 for 5% of the company and a 15 cent royalty on each bar until she gets her $750,000 back.
Mark offers $500,000 for 15 percent of the company’s equity in the form of pure equity. David says “no” to all three.
He thought that royalties would cut into his cash flow, and he didn’t want to give away more than 5% of his company. He left the pitch in the end without making a deal.
What Happened to Just the Cheese after Shark Tank?
Despite walking away from the pitch without a sale, this firm is increasing its retail distribution, and its products can now be found in nearly all major grocery chains, as well as on Amazon and at Target.
David works with the Slim Fast Snack Crisps packaging team. As of the end of 2021, the company is thriving, with annual revenues of $4 million.
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