Cinnaholic Shark Tank Net Worth 2023
During the pitch, the company was valued at $1 million. However, after Robert’s transaction, the value dropped to $500,000. Since then, Cinnaholic has made a lot of sales, resulting in an increase in valuation.
Cinnaholic was featured on Shark Tank America in May 2014, and since then, it has seen significant growth and success.
They have obtained additional funding and formed partnerships, leading to an estimated net worth of approximately $20 million as of 2023.
What is Cinnaholic?
Cinnaholic is a bakery located in Berkeley, California, which was founded and is currently owned by Christina Radke and her husband, Florian Radke. The bakery specializes in customizable cinnamon rolls, allowing customers to choose their own toppings, much like a frozen yogurt shop.
Shannon, a former veterinary assistant, became interested in baking to support her vegetarian lifestyle. Florian, on the other hand, was a former punk rock enthusiast from Germany. The couple met in 2008 through Couchsurfing.com while planning a trip to the California coast, and fell in love. They later decided to get married and start Cinnaholic.
Initially, the business operated as a food truck, but as their unique concept gained popularity, they expanded into a brick-and-mortar establishment in Berkeley. Despite being a fully vegan menu, the cinnamon rolls were well-received by customers.
The bakery’s success led to over 100 serious franchise inquiries, prompting the owners to consider partnering with Shark to assist them in launching franchise operations.
What Happened to Cinnaholic at Shark Tank Pitch?
Once they finished innovating, Florian and Shannon decided to present their company, Cinnaholic, to the investors on Shark Tank. They proposed a deal for $200,000 in exchange for a 20% stake in their company.
During their presentation, they shared that their cinnamon rolls were free from dairy, eggs, and cholesterol, and contained 500 fewer calories than half of a standard cinnamon roll. The Sharks were impressed by the taste of their product and listened as they explained their plan to use the investment to open a second shop.
Barbara Corcoran opted out of the deal, but Robert Herjavec offered $200,000 for 40% of the company, on the condition that they did not open another store.
Kevin O’Leary also offered $200,000, but for 20% of the company with a royalty of $1.20 per unit until he recouped his investment, after which it would drop to 60 cents in perpetuity.
Florian and Shannon declined Kevin’s offer but counter-offered Robert’s offer, which he refused. Eventually, they agreed to Robert’s initial offer of $200,000 for 40% of the company.
After the show, the deal with Robert fell through, and Cinnaholic went on to sell its first franchise, the Berkeley shop.
The company partnered with the Atlanta Franchise Group to focus on expanding its restaurants nationwide, with plans to open 25 facilities, including locations in Southlake, TX, Ocean City, MD, Las Vegas, Anaheim, and Dallas. They already opened a location in Atlanta, with plans to open more in the region.
As of 2021, Cinnaholic had 56 locations and aimed to establish 10 more before the end of the year. They had an additional 60 franchise locations in development, and same-store sales increased by an average of 137% across all locations. The company generates $1 million in annual sales through franchising.
Competitors of Cinnaholic
The company is competing with many competitors. These include; Allison’s Gourmet, Nooch, Dessert Gallery, Perfection, Great Sage, Sweet Loren’s, Candle 79, and The Sun.
Net Worth of Cinnaholic
The company valuation was $1 million during the pitch after the transaction was made by Robert the company was valued at $500,000 and currently they have made a lot of sales, therefore, the valuation has increased due to an increase in sales.
Cinnaholic Shark Tank Updates
Cinnaholic is a vegan cinnamon roll shop that appeared on Shark Tank in 2013. The founders, Shannon and Florian Radke, sought $200,000 from a shark for a 20% stake in their business.
The sharks loved the flavors of the rolls, and they were pleased to learn the rolls are vegan, dairy-free, lactose-free, egg-free, and cholesterol-free.
Robert Herjavec made an offer, but the deal was never signed and sealed. Instead, Cinnaholic partnered with Atlanta Franchise Group to focus on expanding its business.
As of January 2022, Cinnaholic has opened more than 60 locations in the U.S. and has seen year-over-year sales growth of 64% in the U.S. and 30% in Canada between 2020 and 20212.
The company is expanding to markets such as Austin, Texas, and New York City, along with growing internationally. In November 2021, Cinnaholic generated a revenue of over $4.5 million to $5 million. The annual revenue of Cinnaholic is around $20 million as of 2022.
The company is now offering franchises nationwide and has received over 100 serious inquiries to date.
Cinnaholic Shark Tank Pitch Summary:
|Shannon and Florian Radke
|Customizable cinnamon rolls
|Shark Tank pitch
|Asked for $200,000 for 20% stake, Robert Herjavec offered $200,000 for 40%
|Allison’s Gourmet, Nooch, Dessert Gallery, Perfection, Great Sage, Sweet Loren’s, Candle 79, The Sun
|$1 million during pitch, $500,000 after Robert’s offer, now estimated at $20 million (2023)
|Growth and success
|Featured on Shark Tank in May 2014, expanded to over 100 franchise inquiries, opened 56 locations (2021) with plans for more
|Partnership with Atlanta Franchise Group, year-over-year sales growth of 64% in the U.S. and 30% in Canada between 2020 and 2021, expanding to new markets like Austin and NYC
|Generates $1 million in annual sales through franchising, generated $4.5 million to $5 million revenue in November 2021, annual revenue estimated at $20 million (2022)
What is Cinnaholic and how does it work?
Cinnaholic is a gourmet cinnamon roll bakery that offers over 20 unique frosting flavors and a variety of fresh and decadent toppings. They are a plant-based bakery that uses 100% vegan ingredients, including sugar that is not filtered with bone char like most commercial sugars.
Cinnaholic offers a loyalty program called Rollwards, where customers can earn 10 points for every $1 spent in-store and online and redeem them for free treats.
Cinnaholic is a franchise that started as an independent, family-owned bakery in 2010 and has since expanded across North America and beyond. They offer jobs to motivated, passionate, and hardworking individuals who are excited to create their award-winning cinnamon rolls.
Cinnaholic believes that everyone deserves an amazing cinnamon roll to try, and their delicious, plant-based rolls work towards curing everyone’s dessert cravings.
Who owns Cinnaholic?
Shannon and Florian Radke are the founders of Cinnaholic123. They opened the first Cinnaholic bakery in Berkeley, California in July 2010. The husband and wife team appeared on the television show Shark Tank in 2014, which ended in an investment offer.
The company adopted a franchise business model in 2015, and Cinnaholic Franchising, LLC was established. As of August 2022, Cinnaholic operates 73 bakeries across the United States and Canada. The company’s headquarters is located in Atlanta, Georgia.
In summary, Shannon and Florian Radke are the owners and founders of Cinnaholic.
What is Cinnaholic offer at Shark Tank?
Cinnaholic is a vegan cinnamon roll shop that appeared on Shark Tank in season 5, episode 28. During their pitch, Florian and Shannon Radke asked for $200,000 in exchange for 20% of their business.
Robert Herjavec offered them a deal of $200,000 for 40% equity, which they accepted. The Radkes wanted to use the investment to expand their business and open a second location in San Francisco.
Since appearing on Shark Tank, Cinnaholic has expanded rapidly. They now offer franchises nationwide and have received over 100 serious inquiries to date.
As of 2021, Cinnaholic has 50 locations, all of which are controlled by franchisees. The company has continued to see success despite not offering to ship any of its products.
Instead, they have implemented changes on the online front to adapt to the pandemic and have opened 14 locations between June and December 2020.
Cinnaholic plans to open 20 more locations in 2021 and expand to markets such as Austin, Texas, and New York City, as well as internationally.
What happened to Cinnaholic after Shark Tank?
Cinnaholic is a vegan bakery that specializes in cinnamon rolls and desserts. The company appeared on Shark Tank in 2013 seeking $200,000 for a 20% stake in their business. The sharks loved the flavors of the rolls, and they were pleased to learn the rolls are vegan, dairy-free, and cholesterol-free.
Ultimately, Cinnaholic won over Robert Herjavec, and the couple signed a deal with the desired $200,000, but with a 40% stake. However, the agreement with Robert was never signed and sealed.
After much thought and discussion, Cinnaholic decided to go in a different direction and focus on expanding its storefronts instead of shipping nationwide.
Cinnaholic partnered with Atlanta Franchise Group to focus on expanding its business. The company has grown to have hundreds of locations throughout the United States and Canada. As of 2022, the annual revenue of Cinnaholic is around $20 million.
The pandemic didn’t change much of Cinnaholic’s physical presence, as the company kept its real estate at 900–1,200 square feet. Instead, the biggest changes Cinnaholic implemented were on the online front. As a grab-and-go concept, the brand had an off-premises advantage compared to full-service.
Between June to December 2020, Cinnaholic opened 14 locations. The company ended up closing in 2020 with overall system growth of 29 percent, with franchisees controlling all 50 of its locations.
Cinnaholic is ramping up plans to expand and projects to open 20 locations throughout 2021 and expand to markets such as Austin, Texas, and New York City, along with growing internationally.
Did Cinnaholic get an offer?
Yes, Cinnaholic did get an offer on Shark Tank. During their appearance on the show, owners Florian and Shannon Radke negotiated a $200,000 investment for 40% of the company from investor Robert Herjavec.
However, after much thought and discussion, the owners decided to go in a different direction and focus on expanding their storefronts instead of shipping nationwide.
Is Cinnaholic still in business?
Yes, Cinnaholic is still in business. As of August 2022, Cinnaholic operates 73 bakeries across the United States and Canada. The company is known for its made-to-order, gourmet vegan cinnamon rolls and other sweet treats.
Cinnaholic’s sales have only grown, and as of January 2022, the company has opened more than 60 locations in the U.S. and has expanded to places like Texas, South Carolina, and New Jersey.
Despite the challenges all restaurants faced due to the pandemic, Cinnaholic was able to keep every location open in 2021, and the company ended up closing in 2020 with overall system growth of 29 percent, with franchisees controlling all 50 of its locations.
Cinnaholic is considered a highly sought-after franchise brand due to its low startup costs, manageable operations, corporate training, as well as support for real estate, construction, operations, and marketing.
The company is headquartered in Atlanta, Georgia. All of Cinnaholic’s products are made with the highest quality ingredients and are 100% plant-based, dairy & lactose-free, egg-free, and cholesterol-free.
Does Cinnaholic offer coupons?
Yes, Cinnaholic offers coupons that can be used to get discounts on its website. These coupons can be found on various coupon websites, such as Knoji, HotDeals, CouponAnnie, Wethrift, and CouponKirin. The discounts offered by these coupons vary, but they can be as high as 80% off.
To use a Cinnaholic coupon, customers can enter the coupon code at checkout on the Cinnaholic website.
Some coupons may have restrictions, such as being valid only at certain locations or for certain products. It is important to check the terms and conditions of each coupon before using it to ensure that it is valid and applicable to the purchase.
Customers can also sign up for the Cinnaholic e-newsletter to receive special discounts and promotions. Additionally, new customers can take advantage of a special discount that can give them at least 10% off on their first order.
In summary, Cinnaholic offers coupons that can be used to get discounts on its website. These coupons can be found on various coupon websites and can be used at checkout on the Cinnaholic website.
Customers can also sign up for the Cinnaholic e-newsletter and take advantage of a special discount for new customers.
What is the value of Cinnaholic?
Cinnaholic is a bakery located in Berkeley, California, that specializes in customizable cinnamon rolls, allowing customers to choose their own toppings, much like a frozen yogurt shop.
The bakery was founded in 2010 by Shannon and Florian Radke, who combined their passion for baking and dedication to a vegan lifestyle.
Cinnaholic’s products are all dairy, lactose, egg, and cholesterol-free, made with high-quality ingredients. The bakery also offers a variety of vegan baked goods, including cookies, brownies, and cakes.
During their appearance on Shark Tank, the Cinnaholic team valued the company at $1 million. However, after the transaction was made by Robert, the company was valued at $500,000.
Since then, Cinnaholic has experienced significant growth and success, obtaining additional funding and forming partnerships. As of 2023, the company’s estimated net worth is approximately $20 million.
In 2021, Cinnaholic brought in $20 million in sales from its existing locations, despite the challenges faced by all restaurants due to the COVID-19 pandemic. The bakery aims to open 25 new locations by the end of 2022 in new markets in Florida, Ohio, New York, and Massachusetts.
Cinnaholic offers franchise opportunities, with a cost ranging from $187,000 to $368,500. The franchise offers cinnamon rolls, brownies, cookies, cakes, mini buns, party trays, tea, coffee, and bottled beverages, with catering also available. Each roll takes about 30-45 seconds to be ready to eat.
Who are their Shark Tank competitors?
The Shark Tank cast includes a rotating group of investors, business experts, and self-made millionaires and billionaires.
The core group of six sharks includes Mark Cuban, Robert Herjavec, Barbara Corcoran, Lori Greiner, Daymond John, and Kevin O’Leary. Five of these sharks appear on any given episode of Shark Tank.
There are no direct competitors to the sharks on Shark Tank. The show features entrepreneurs making business presentations to the sharks, who then decide whether to invest in their companies. The sharks are not competing against each other but rather evaluating the business proposals presented to them.
It is worth noting that due to the show’s popularity, some companies have falsely advertised that they have appeared on Shark Tank when they have not. However, a full list of companies that have actually appeared on the show can be found on the Shark Tank Wikipedia page.
how many locations does Cinnaholic have now?
As of 2023, Cinnaholic has 80 locations across the US and Canada. In 2022, the company opened 23 new locations and signed 50 agreements for new franchise locations. Cinnaholic plans to open 30 more locations throughout 2023, including in new markets such as Charleston, Pittsburgh, and Philadelphia.
In 2021, the company signed agreements for new franchise locations in 20 new markets across the US, including Ann Arbor, Portland, Philadelphia, New Jersey, and Phoenix.
How are they different?
Cinnaholic cinnamon rolls are similar to a frozen yogurt shop in that one may customize it with any toppings he or she likes.
What is their product?
Cinnaholic offers a delicious handmade cinnamon roll, various frosting flavors, and delicious toppings.
What is the business model?
It is a franchise-based business model that offers franchises to those interested.
Is a private or public?
It is a private business.
How much does a franchise cost?
The franchise fee is not disclosed in the Show transcript.
What are their strengths?
They have a unique menu and they are considered one of the best cinnamon rolls in the country.
What are their weaknesses?
They still offer only one type of business model at the moment.
What is their growth strategy?
They plan to expand nationally and they also plan on selling more franchises in different states.
How many franchises do they have?
They currently have 56 sites in 2021 and intend to establish 10 more before the end of the year.
How much do Cinnaholic employees make?
They have a lot of employees and they have gross sales that are more than 1 million dollars.
Is Cinnaholic profitable?
They are successful.
Is it legit?
Yes, it is legit.
Does Cinnaholic sell franchises?
They sell franchises to those interested.
Is any opportunity?
Cinnaholic is a unique bakery known for its mouth-watering cinnamon rolls that sell at a higher price than other shops.
They have been nominated as Best baked goods by QSR Magazine and it has been listed as one of the best bakeries to dine in the world by Huffington Post.
It has great reviews from various sources including Yahoo, Zagat, and Yelp.
How can I buy it?
Customers can buy it at their website cinnaholicbakery.com
How often does Cinnaholic release new products?
They do not release new products on their menu.
Are they delivered?
Yes, they deliver for free for orders of more than $10.00.
Is Cinnaholic part of a franchise group?
No, they are more like franchisees rather than franchisees themselves. They aim to offer franchises to those interested in owning one of their shops or cafes.