Cinnaholic Shark Tank Update| Cinnaholic after Shark Tank
What is Cinnaholic?
Cinnaholic consists of a handmade cinnamon roll, delectable frostings, and delectable toppings. They are free from egg and dairy and completely vegan.
Cinnaholic, a bakery in Berkeley, California, is owned and operated by Christina Radke and Florian Radke.
The cinnamon roll is similar to a frozen yogurt shop in that one may customize it with any toppings user like.
Shannon is a former veterinary assistant who began baking to supplement her vegetarian diet, and Florian is a former German punk rock sceneter.
The pair met on Couchsurfer.com in 2008, when Florian was planning a trip to the California coast and met Shannon. They got along so well that they decided to marry and start Cinnaholic.
Who is the Founder of Cinnaholic?
Christina Radke and her husband Florian Radke founded and own Cinnaholic, a bakery in Berkeley, California. The cinnamon roll is similar to a frozen yogurt shop in that you may customize it with any toppings you like.
Shannon is a former veterinary assistant who became interested in baking to support her vegetarian lifestyle, and Florian is a former punk rock sceneter from Germany.
Florian and Shannon met in 2008 while organizing a trip to the California coast on Couchsurfer.com. The two fell in love and planned to marry and found Cinnaholic.
They began as a food truck and expanded into a brick and mortar establishment in Berkeley, CA as the concept gained traction. Despite the fact that their whole menu is vegan, it seemed as though everyone enjoyed their rolls.
They had been so successful in just a few years of fantastic reviews and company development that they’re now selling franchises nationally.
They had already gotten over 100 serious queries. They are probably looking for a Shark to assist them in launching franchise operations.
What Happened to Cinnaholic at Shark Tank Pitch?
After the innovation was done, the pair agreed to pitch their company idea to Shark Tank investors. Florian and Shannon make a proposal for $200,000 in exchange for a 20% stake in their firm.
They relate their narrative and present their Cinnaholic to the Sharks, who groan with joy as they taste their samples.
They went on to say that the rolls are dairy and egg cholesterol free, and that each one has 500 less calories than half a standard roll.
They want to use the Sharks’ money to establish a second shop. Their Berkley store, which is barely 650 square feet, had a sales volume of $260,000.
Barbara Corcoran made a brief statement before exiting the deal.
Robert Herjavec makes a $200,000 offer for 40% stock, depending on them not building another store.
Kevin O’Leary offers $200,000 for 20% equity shares with a royalty of $1.20 per unit until he recoups his investment, after which it drops to 60 cents in perpetuity.
Florian and Shannon consult, and then inform Kevin that they do not agree with the royalty offer.
They counter Robert’s offer of $200,000 for 35% stock shares, but he refuses. They eventually accept Robert’s offer of $200,000 for 40% ownership of the firm.
What Happened to Cinnaholic after Shark Tank?
After the pitch, the contract with Robert was never completed.
Cinnaholic sold its first franchise, the Berkeley shop, and partnered with the Atlanta Franchise Group to focus only on expanding its restaurants countrywide.
The first of 25 planned facilities will open in Southlake, TX and Ocean City, MD, with other locations in Las Vegas, Anaheim, and Dallas.
In addition, an Atlanta site is already open, with more locations planned for the broader Atlanta region.
They have 56 sites in 2021 and intend to establish 10 more before the end of the year.
Another 60 franchise locations are also in the works, and same-store sales climbed by an average of 137 percent across all locations. The franchising company generates $1 million in annual sales.
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 valued $500,000 and current they have made a lot of sales therefore the valuation has increase due to increase in sales.
What is Cinnaholic?
Cinnaholic is a bakery that makes and sells cinnamon rolls, which are unique in their dessert flavors, and in their styles and vegan.
Who owns Cinnaholic?
Christina Radke and Florian Radke own and operate Cinnaholic, a bakery in Berkeley, California.
What is their offer at Shark Tank?
They were seeking for $200,000 for 20% of their firm in exchange for funding to open another location.
Did they get an offer?
Is still in business?
Yes, they are still in business and they have sold franchises to people and they have their own plant.
Does Cinnaholic offer coupons?
There are no current discounts and promotions available on their site.
What is listed on their site under the FAQs section is the official list of ingredients, nutritional information, standard shipping rates, and other frequently asked questions.
Do not give your email address unless you want to be added to their mailing list.
What is the value of Cinnaholic?
Their valuation was $1 million when they pitched the Sharks, which means that it has increased due to increase in sales.
Who are their Shark Tank competitors?
They are competing against many competitors including Allison’s Gourmet, Nooch, Dessert Gallery, Perfection, Great Sage Sweet Loren’s Candle 79 and The Sun.
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.
How 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 as 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?
Customer can buy it at their website cinnaholicbakery.com
How often does Cinnaholic release new product?
They do not release new products on their menu.
Are they delivered?
Yes, they deliver for free for orders 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.