Captain Ice Cream Shark Tank Net Worth
Captain Ice Cream, founded by Tim Gavern, appeared on Shark Tank in episode 114. At the time, the net worth of Captain Ice Cream was $192,000, and Gavern was looking for $48,000 for a 25% interest in the business.
As of February 2023, Gavern revealed he makes about $25 an hour peddling ice cream around the neighborhood, though his current net worth is unknown.
What is Captain Ice Cream and Who is the Founder of Captain Ice Cream?
Captain Ice Cream is a traveling ice cream vending truck that offers unique flavors to customers all over the country.
The founder of Captain Ice Cream is Tim Gavern, an entrepreneur with a family history in the ice cream industry. Despite initially pursuing a career in the publishing sector, Tim ultimately decided to follow in his family’s footsteps due to a lack of job opportunities.
With ice cream running through his veins, he opted to start his own mobile ice cream business and named it Captain Ice Cream. Tim invested in a van and a scooter to start his venture.
Captain Ice Cream Shark Tank Pitch
In season 1 episode 13 of Shark Tank, Tim Gavern entered the tank seeking $48,000 for a 25% stake in his mobile ice cream vending business, Captain Ice Cream, which had a valuation of $192,000.
Tim arrived on his motorcycle and immediately revealed his intention to franchise the business, stating that he owned the “Captain Ice Cream” trademark.
During the pitch, it was revealed that Tim was only earning around $200 per day for a four-hour shift and that the cost of producing one of his Captain Ice Cream mopeds was approximately $7,000.
The Sharks were not impressed with the business’s sales, and although Daymond John enjoyed the concept, he ultimately decided not to invest. Kevin O’Leary also decided not to invest, believing that the business was not a good investment opportunity.
Robert Herjavec stated that Captain Ice Cream had a long way to go before becoming profitable, and Kevin Harrington decided not to invest because there was no franchise company.
Barbara was interested in buying the ice cream but felt that Tim was too early and unprepared. In the end, Tim left the tank without securing an investment in Captain Ice Cream.
Following the show, Captain Ice Cream began offering franchises for the mobile ice cream vending business, including the Moped and the Custom Ford Transit Connect car.
However, the franchise was expensive, with the Complete Kit without the van costing $12,495, and the package with the van costing $44,495. These prices did not include delivery, licensing fees, health department inspection fees, state sales tax, or local business permits.
Despite being listed as available in mid-2014, the Captain Ice Cream website is no longer operational, and no further information about the business is available. Therefore, it can be assumed that Captain Ice Cream is no longer in operation.
Captain Ice Cream Shark Tank Updates
Captain Ice Cream is a mobile ice cream business that was pitched on Shark Tank in episode 114 by Tim Gavern, who comes from a long line of ice cream entrepreneurs. He rode into the tank on his moped and revealed that he intended to franchise his company.
He was seeking $48,000 for a 25% stake in Captain Ice Cream. However, none of the sharks made a deal with him.
Since airing on Shark Tank, Captain Ice Cream was offering franchise options of the mobile ice cream business, and as of mid-2014, they were offering franchises that include the Moped.
They were also offering franchises that include the Moped and the uniform. However, as of 2023, Captain Ice Cream is out of business, and its website is no longer active.
Despite not receiving an investment from the sharks, Tim had a strong conviction in the potential of his Captain Ice Cream business and continued operating it even after being rejected for investment.
Anyone interested in becoming a Captain Ice Cream franchisee could order franchising kits on the internet, which included a bespoke moped, a new uniform, 500 business cards, an umbrella, and a royalty charge of $2495.
Captain Ice Cream Shark Tank Table Summary:
| TOPIC | SUMMARY |
| Company name | Captain Ice Cream |
| Founder | Tim Gavern |
| Shark Tank appearance | Season 1, Episode 13 |
| Net worth during pitch | $192,000 |
| Investment sought | $48,000 for a 25% stake in the company |
| Sharks’ response | No deal |
| Franchise options | Complete Kit without the van costs $12,495, and the package with the van costs $44,495, not including delivery, licensing fees, health department inspection fees, state sales tax, or local business permits |
| Current net worth | Unknown, as of February 2023 |
| Competitors | None identified |
| Current status | As of 2023, it can be assumed that Captain Ice Cream is no longer in operation. However, the company’s website is no longer active, and it is unclear when the company ceased operations. |
| Unique selling proposition | A mobile ice cream vending truck that offers unique flavors to customers all over the country. |
Captain Ice Cream Competitors
There is no competitor identified for Captain Ice Cream
Captain Ice Cream FAQS
What Is Captain Ice Cream Shark Tank?
Captain Ice Cream is a mobile ice cream business that was pitched on Shark Tank in Season 1 Episode 13 by Tim Gavern. Tim comes from a long line of ice cream entrepreneurs, and he wanted to franchise his company.
He was seeking $48,000 for a 25% stake in Captain Ice Cream. Tim rode into the tank on his moped and revealed that he only makes $200 per event. The sharks were not impressed with his figures, and he did not receive a deal.
Despite not receiving a deal, Captain Ice Cream continued to operate and offer franchise options. As of mid-2014, they were offering franchises that include the moped.
At one point, their website listed franchise opportunities with prices ranging from $12,495 for a moped to $44,495 for a van selling ice cream. Captain Ice Cream is still in business today, and they travel all over the United States serving ice cream in unique flavors.
How Does Captain Ice Cream Shark Tank Work?
Captain Ice Cream is a mobile ice cream business that was pitched on Shark Tank by Tim Gavern in episode 114. Tim comes from a family of ice cream entrepreneurs, and he wanted to franchise his own mobile ice cream business.
He rode into the tank on his moped and asked for $48k for a 25% stake in Captain Ice Cream. The sharks were not impressed with his profits and lack of a developed business plan. They did not invest in his business, but Tim continued to operate Captain Ice Cream after the show.
Since appearing on Shark Tank, Captain Ice Cream has offered franchising kits online that include a moped or van, uniform, business cards, and an umbrella. The franchise package also includes a royalty charge of $2495.
Captain Ice Cream has not received any investment from the sharks, but Tim has continued to operate and franchise his business.
What Happened To Captain Ice Cream After Shark Tank?
Captain Ice Cream is a mobile ice cream business that was pitched on Shark Tank in 2010. The founder, Tim Gavern, rode into the tank on his moped and offered a 25% partnership for $48,000. However, the sharks were not impressed with his profits, which were only $25 an hour.
They also pointed out that Captain Ice Cream was more of a concept than a developed business plan. Despite this, Gavern leveraged the ABC screen time and went on to sell franchise packages of his moped-powered ice cream vending business.
According to various sources, Captain Ice Cream went out of business sometime in 2014. However, in 2022, the company’s website was still active and offering franchising kits that included a bespoke moped, a new uniform, 500 business cards, an umbrella, and a royalty.
It is unclear whether these franchising kits are still available or if Captain Ice Cream is still in business.
Is Captain Ice Cream Shark Tank Still In Business?
No, Captain Ice Cream is no longer in business. Despite appearing on Shark Tank in 2010, the business disappeared sometime in 2014. The website is no longer active, and the company cannot be found on social media.
Although Tim Gavern, aka Captain Ice Cream, did manage to offer some franchise packages for a while, the franchise opportunities were first made available to potential franchisees through Captain Ice Cream’s website in 2014.
The Captain Ice Cream website has been deactivated since June 2014, meaning it no longer provides additional information about the organization.
When Did Captain Ice Cream Go Out Of Business
Captain Ice Cream, a mobile ice cream business operated from a van and a scooter, went out of business sometime in 2014. Despite an initial boost from appearing on Shark Tank, the business was not successful and struggled to make a profit.
The founder, Tim Gavern, managed to offer some franchise packages for a while, but the franchise opportunities were first made available to potential franchisees through Captain Ice Cream’s website in 2014.
The website has since been deactivated, and the company can no longer be found.
What Was the Reason for Captain Ice Cream’s Failure
Captain Ice Cream was a mobile ice cream business operated from a van and a scooter. The business was started by Tim Gavern, who picked this as his income stream after facing challenges in his career in publishing.
Tim’s choice of business isn’t too big of a surprise since both his mother and grandmother had their own ice cream parlors. He owns the trademark of ‘Captain Ice Cream’ but he obtained the ice cream from a manufacturer instead of making it himself.
Tim went to Shark Tank seeking $48,000 for 25% equity to expand the business by franchising it and having multiple locations. However, the sharks felt he was there too soon and needed to have a more established business before they could invest.
Kevin O’Leary was very unimpressed with the figures after Tim stated he made around $200 in sales from four-hour events. As a result, Tim did not receive a deal from any of the sharks.
After appearing on Shark Tank, Tim offered franchising kits on the Captain Ice Cream website. However, franchisees would still have to pay for a delivery, health inspections, business licenses, state permits, and other expenses.
Tim managed to offer some franchise packages for a while, but it is unclear whether the business is still operating today.
How much was he seeking in the business?
Tim entered shark tank season 1 Episode 13 looking for $48,000 for a 25% interest in Captain Ice Cream. This equates to a $192,000 valuation.
Did he get a deal from the Sharks?
Tim exited the tank without making an investment in Captain Ice Cream.
Where can they find out more information about Captain Ice Cream?
Captain Ice Cream is no longer in operation.
What happened to Captain ice cream after Shark Tank?
Captain Ice Cream has been promoting franchise opportunities for the mobile ice cream company since its appearance on Shark Tank, and as of mid-2014, they were offering franchises that included the Moped.
They also had franchises for the Moped and the Custom Ford Transit Connect car.
Where was Captain Ice Cream located?
Captain Ice Cream was based in Monrovia, California.
How much were mopeds cost to produce?
Tim stated that it costs $7,000 to produce one of the Captain Ice Cream mopeds.
How much was he making per week?
Tim says he usually makes $25 per hour in profit on average.
When was Captain Ice Cream aired on Shark Tank?
Captain Ice Cream aired on Shark Tank on January 29th, 2010.
What was Captain Ice Creams’ website address?
The website for Captain Ice Cream has been shut down.
What was the business model for Captain Ice Cream?
The business model for Captain Ice Cream was to drive around town selling ice cream and novelty items. They are a mobile ice cream business.
What is the net worth of Tim Gavern?
Tim Gavern’s net worth in 2022 is $1 Million.
