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 Competitors
There is no competitor identified for Captain Ice Cream
Captain Ice Cream FAQS
What was Captain Ice Cream?
Captain Ice Cream was a novelty ice cream vending truck that travelled across the country.
Who was the Founder of Captain Ice Cream?
Tim Gavern, the founder of Captain Ice Cream, is an entrepreneur who was born into the ice cream business.
His mother and grandmother were ice cream entrepreneurs who operated their own ice cream shops.
How much was he seeking in the business?
Tim entered the 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.
Is Captain Ice Cream still in business?
The website was shut down in June 2014. Tim is now working as a salesman at a commercial vehicle dealership. Captain Ice Cream is no longer in business.
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 was mopeds costs 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 net worth 2022 is $1 Million.