What Happened To Press Waffle After Shark Tank?

Perhaps there isn't enough recognition of just how flexible waffles are. We're not talking about their ability to perform handstands, but rather their ability to be suitable for many different meals. Pair them with some eggs and you've got breakfast; match them with chicken and lunch or dinner is ready; drip chocolate and ice cream all over them to create dessert. Maybe the whole world could be fueled by the versatility of waffles.

Taking advantage of the benefits of waffles as an entrepreneur is no easy task considering the hefty business competition that exists in the market. Waffle House is an obvious titan in the restaurant world, for example, which Forbes estimates achieved $1 billion in sales in 2020. On the retail side, Kellogg's Eggo waffles brought in more than $132 million in sales in 2021, according to Statista data. These figures would be very difficult for a new business to compete with.

Despite the challenge of trying to muscle in on the waffle industry, seemingly no business would succeed without a large slice of ambition. That's exactly what Press Waffle's owners had when they asked celebrity investors for financial and business support on the CNBC TV show "Shark Tank" in 2019. But where is the waffle company now — and did it become a success?

Press Waffle has been successful so far

Press Waffle, which was set up by brothers Bryan and Caleb Lewis in Dallas, aspired to build a customer base for Liege waffles in the U.S., according to Restaurant Business. This style of waffles are common in Europe but less so in the States. The owners hoped their product would win over Americans with a Leige waffle recipe of yeasted dough, proofed for 24 hours, and caramelized pearl sugar.

When Press Waffle appeared on Season 10, Episode 17 of "Shark Tank," the Lewis brothers already boasted $450,000 in sales, per Shark Tank Tales. They then asked for $200,000 more to expand the company, YouTube shows. The Sharks loved the indulgent waffles, and battled each other to win the brothers' approval. In the end, Bryan and Caleb agreed to Barbara Corcoran's offer of $300,000 for a 15% stake in Press Waffle.

The Lewis' began franchising Press Waffle following the investment, with the company's website currently boasting seven stores in Texas and nearby states. They also had plans to double that number, according to Restaurant Business. The brothers also credit the "Shark Tank" assistance with helping to take sales up to $1.3 million, according to YouTube, demonstrating that commitment from all involved has helped to turn Press Waffle into an increasingly successful enterprise.