Bread is a basic necessity in households as it’s rich in complex carbohydrates. However, some people avoid bread because it’s unhealthy. Founders William and Kristen Schumacher pitched Uprising Food on Shark Tank but weren’t able to secure a deal. Sadly, Uprising Food is worth $0 as the business shutdown on March 28, 2023.
William and Kristen Schumacher
William and Kristen Schumacher are a married couple based in Cincinnati, Ohio. William has a degree in marketing from Wright State University, and his wife studied psychology at Ohio State University.
After college, William worked as a banking analyst at KeyBank and gained brand management experience at Procter & Gamble. He led the conglomerate’s Olay department in North America for over a year. Kristen worked in sales and marketing at Nehemiah Manufacturing Company and Trunk Club.
Revolutionizing Bread
Both William and Kristen were raised in entrepreneurial families. They were also sporty and health-conscious. At some point, the couple decided to create a brand that would have a considerable impact on the food market.
Eventually, they hooked up with artisan bakers Mark and Sara Fromeyer and got the idea to make bread that doesn’t contain gluten or dairy to make it keto and paleo friendly. William served as the CEO, while Kristen acted as Chief Brand Officer.
Originally called Uprising Bread, Uprising Food was launched in 2019 and made $85,000 in their first year. In 2020, sales were just under $1 million, and six months into 2021, they hit $2.1 million in revenue.
Uprising Food’s Pitch
Uprising Food had no problem getting sales but the company was burning cash. William and Kristen believed they could become profitable at a higher scale. The couple appeared on season 13 of Shark Tank seeking $500,000 for a 3% equity stake.
The founders were confident about their product and the Sharks liked the taste of it. However, the Sharks were shocked that the bread retails for $12! That’s very pricey for a small loaf of bread. William also used a lot of buzzwords and jargon that seemed to annoy Mark Cuban.
The combination of high prices and low profit margins turned the Sharks off. The valuation wasn’t realistic and the business wouldn’t be profitable with $5 million in sales. The couple went home without a deal.
Update After Shark Tank
Despite the criticism, the Schumachers took the feedback on board. After the episode aired, Uprising Food revealed in a press release they were surprised by the positive reaction to their product. Uprising Food closed down on March 28, 2023.
They sold the bread in bundles along with other products such as prebiotic chips, sweatshirts and cooking aprons. The price has increased from $12 per loaf to $15 which made it more challenging given the cost of living crisis.
The company’s 5-in-1 Prebiotic bundles averaged 4.5 stars from over 2,300 ratings. Negative reviews mentioned the taste and some complained about the rubbery texture. The business wasn’t able to become profitable even though Shark Tank lowered their customer acquisition costs.
In January 2023, William got a part-time role working as a Chief eComm Growth Expert at PrettyDamnQuick, a checkout-to-delivery platform. It’s clear William is a talented digital marketer but selling bread is a tough business.
