The probiotic maker net worth showed a valuation of $2.1 million when it entered the show Shark Tank. Now the estimated Net Worth of The Probiotic Maker is $380,000.
Merrick Maxfield, who was part of Season 12 on ABC’s Shark Tank, came up with a solution for people who face a deficiency of probiotics. Maxfield’s invention started his business with the brand name “The Probiotic Maker,” helping novices make their yogurt at home.
The Probiotic Maker is helpful in quickly heating different volumes of milk containers, no matter whether the milk is skimmed or whole milk. There is a seeded mixture that is added to the milk, and it contains 11 different probiotic strains. The device aids in the thickening of the milk overnight, which results in creamy and fresh yogurt in the morning.
The Probiotic Maker Net Worth
The probiotic maker showed a valuation of $2.1 million when it entered the show Shark Tank. Now the estimated Net Worth of The Probiotic Maker is $380,000.
Owner of Probiotic Maker
Merrick Maxfield is a graduate of the University of Utah. He finished an MBA from the Tepper School of Business, at Carnegie Mellon University. He was part of the automobile industry as a marketing director and worked for Sabre Travel Information Network as a product manager. He was also part of the White House as an internee for a few months in 1995.
Probiotic Maker before the Shark Tank
Merrick Maxfield inaugurated the Probiotic Maker in 2016 to lower the purchasing cost of yogurt for his family members. It was designed for all the average family status persons. The Probiotic Maker is similar to a heating pad, but it does not heat your body but heats the milk containers.
By now, 7,392 units of this product have been sold, according to Probiotic Maker’s website. According to them, their customers were always satisfied with their product which was evident from their reviews.
The buyers must add the starter pack to their milk or its alternative and later put the warming sleeves on the bottle. This thickens the milk overnight, converting it into yogurt.
Probiotic Maker during the Shark Tank
The owner of the Probiotic Maker went to the shark tank for giving up 7% of the equity with an investment of $150,000. The product cost was $20 and sold for $99.95. He claimed that his product provides an effective way of getting fresh yogurt in the morning which can later be used with fruits and dry fruits.
Merrick revealed that his sales were $22,000 in 2018. Next year, their sales went up by 350% to $76,000. The lifetime sales were mentioned as $150,000 in the show.
The sharks liked the product but were concerned about the safety issues related to the product. Their opinion was that yogurt’s sales figures showed a decreasing trend. The lack of awareness was also another issue highlighted by the sharks.
Although the sharks liked the product, they had too many concerns associated with the probiotic’s product. So they decided not to give any offer to Maxfield. So, he walked away empty-handed.
What Happened to Probiotic Maker after Shark Tank Deal?
Maxfield is still running his business, and contamination-free yogurt is getting popular under the brand name Probiotic Maker. No exact figures are available for sales progress, but the owner of the Probiotic Maker shared on his Instagram that they delivered 5000 orders by June 2021, which brings estimated sales of $479,750.
The Probiotic Maker sells between $29 and $99.5, so the business is performing well with its existing customer base.
Frequently Asked Questions
What Is The Probiotic Maker?
Maxfield’s invention, the Probiotic Maker, allows beginners to make their own yogurt at home. The Probiotic Maker is helpful in quickly heating different volumes of milk containers, no matter whether the milk is skimmed or whole milk. There is a seeded mixture that is added to the milk, and it contains 11 different probiotic strains. The device aids in the thickening of the milk overnight, which results in creamy and fresh yogurt in the morning.