Peanut Butter Pump Net Worth – What happened after Shark Tank?
What is Peanut Butter Pump ?
The name explains it all, it is a Peanut Butter Pump.
Peanut Butter Pump is a pump that dispenses a nutty paste.
The convenience and deliciousness that comes from the pump, results in customers no longer having to stick their knife into a peanut butter jar – instead they just have to spread the paste using the Peanut Butter Pump!
What is Peanut Butter Pump’s Net Worth?
Company Name |
Peanut Butter Pump |
Owner |
Andy Scherer |
Shark |
No Shark |
Equity |
No/None |
Investment |
No/None |
Location |
Burbank, California |
Net worth |
±$1 million |
Who is The Owner of Peanut Butter Pump?
Andy Scherer is the ‘nutty inventor’ of Peanut Butter Pump.
In 2016 Andy lost his job, giving him extra time to design ideas and come up with solutions. Loving PB&J, Andy came up with the idea when preparing his favorite §sandwich.
Peanut Butter Pump was born in his garage and is currently doing very well.
The interest of his product went viral after airing on Good Morning America in 2019 and since then, the popularity has resulted in waiting periods for pre-order sales, making it a very sought-after product!
Why is Peanut Butter Pump So Popular?
The product is both convenient and clever. It is made of silicone, dispensing three tablespoons of nutty goodness per pump.
It is also easy to clean and creates fewer utensils to wash.
Shark Tank Appearance – Did It Go Through?
Andy entered the tank seeking an investment of $200, 000 for 15% of his business.
The sharks appeared more fascinated by the product than interested. After a couple mishaps and missing delivery dates, the Sharks were concerned.
Once by one they started to pull out and Mark thanked Andy for being a good sport, to which he went on his way.
Where is Peanut Butter Pump Today?
After some speculation that the idea was tanked, Andy reassured his customers that the product works and was being manufactured.
On the website, it currently states that the estimated shipping date was back in 2020 and currently there is no further update to share.
If Andy can get his orders out and manage his time, he could possibly have a multi-million-dollar product on his hands.
Conclusion
In the end, sticking to your promises is an important trait to possess when starting a business. Andy is yet to do so and with that, comes a lack of trust and loss of customers.
Hopefully Andy is able to get his business up and running, the proof is in the pudding so we will have to wait and see!
