Frozen Farmer Shark Tank Net Worth 2023
The estimated net worth of Frozen Farmer is $5 million as of 2022. The company has expanded its ice cream business to 169 shops and supplies vegetables to retailers.
All Kroger stores and Shop & Stop stores have signed a deal with Frozen Farmer, and the company is available in more than 8,000 stores. Before entering Shark Tank, revenue earned by Frozen Farmer every year was $300,000.
Now, after appearing on Shark Tank, Frozen Farmer earns around $1 million every year. They have purchase orders of $15 million currently.
Frozen Farmer’s valuation during the show was $625,000 which got updated to $416,666.6 on the show. Lori Greiner signed a contract with Frozen Farmer after the show.
The company capitalized on its relationship with Giant Food Stores throughout the six months from recording to transmission. In 2022, they also raised $2.5 million from WSFS bank on a line of credit.
What is Frozen Farmer? Who is the Founder of Frozen Farmer?
Frozen Farmer is a specialized restaurant and retail business that provides a wonderful option for health-conscious individuals who enjoy ice cream. Their ingredients are always 100% fresh and free from any artificial additives or sweeteners.
Founded by Katey Evans and her family, Frozen Farmer is a registered Women Owned Small Business with a license from the Women’s Business Enterprise National Council.
The inspiration for their business came from their family farm, where they strive to reduce wastage by using mismatched vegetables to create delicious frozen treats. They are committed to promoting sustainability in the food system.
Frozen Farmer offers a range of products for all occasions, and their ingredients are always fresh and organic. They do not use any preservatives or artificial additives, making their products a healthy choice for consumers.
Katey Evans and her family own both the farm and the ice cream shop, and they consider themselves to be both farmers and chefs. They grow many of the ingredients used in their products on their family farm.
Frozen Farmer’s seven flavors include Strawberry-Rhubarb-Calamansi Frozen Yogurt, Banana-Peanut Butter Frozen Yogurt, Strawberry-Blueberry Frozen Yogurt, Mango Frozen Dessert, Assorted Fruit Frozen Desserts, and Assorted Fruit Iced Tea.
Frozen Farmer’s products are available at their roadside stand in Bridgeville, Delaware, as well as on their website and mobile ice cream truck.
They can also be found in around 200 local grocery stores and a dozen eateries. Customers are invited to watch the Frozen Farmer team transform farm-grown food into delicious ice cream in their open kitchen.
Many customers have encouraged the Evans to try out for Shark Tank since they first opened their doors.
Frozen Farmer Shark Tank Pitch
Katey Evans developed a product called Frozen Farmer and took action to market it to investors on Shark Tank to scale her business.
She sought the assistance of a Shark to find a co-packer that would enable her to sell her products nationally. During her pitch, she asked for $125,000 for a 20% stake in her company, which was valued at $625,000.
Katey provided samples of her product and explained that she had goods in 70 Delaware stores, generating $300,000 in sales in 2019. 15% of the revenue came from Delaware grocery stores, and the rest came from wholesale and farm stand sales.
Some Sharks, including Mark, Robert, Daymond, and Kevin, enjoyed the ice cream but were concerned about the brand’s ability to expand beyond the local level.
Lori and Bethenny remained on the pitch, and Katey urged Lori to make an offer. Lori liked the product but not the packaging or marketing plan, so she offered to help Katey improve them.
Lori then offered $125,000 for 30% ownership of the firm at a valuation of $416,667, which Katey accepted, and they closed the deal.
After the pitch, the company signed a contract with Lori and used its relationship with Giant Food Stores to sell its products in all 169 locations in Pennsylvania, Maryland, Virginia, West Virginia, and Washington, D.C.
The firm also began selling directly to customers online and increased manufacturing for countrywide distribution. The company’s yearly revenue in 2021 was estimated to be $1 million.
The firm rebranded its frozen yogurt and sorbet hybrid, Frobet, and it is now available in 4300 Walmart stores. The company is also available at Stop & Shop and every Kroger location.
Prior to Shark Tank, the firm had around $300,000 in revenue. Currently, the firm earns more than $1 million per year and has $15 million in committed purchase orders. The deal went smoothly, and the firm is expanding on its own.
Competitors of Frozen Farmer
The company competes with Frozen Farmer is like; Ruth’s Chris Steak House, Dairy Queen, El Pollo Loco, Oberto’s Sandwich Shop, Frozen Pizzeria & Gourmet Pizza Company, Auntie Anne’s Pretzels and Mojo Fresh Foods.
Partners of Frozen Farmer
Frozen Farmer have partners that are doing business together as like; Kroger, Walmart, STOP &SHOP, Giant, City Market, FredMeyer, fru’s, Baker’s among others.
Net Worth of Frozen Farmer
The company was valued at $625,000 during the pitch and after the Lori investment the company valued at $416,667, alongside the company have made several sales which it has make the company valuation to rise in 2021.
Frozen Farmer FAQs
What is Frozen Farmer?
Frozen Farmer is a Delaware-based family ice cream company that features ultra-premium, artisanal frozen treats.
Who founded Frozen Farmer?
Katey Evans, Katey Evans’ mother, takes care of the farm. Her brother helps with the business and production.
Katey Evans started working in the family business in 2010, before starting her own business in 2015. The firm was formally incorporated in 2016.
What is her offer on Shark Tank?
Katey Evans was asking for $125,000 for 20% of her company, which is valued at $625,000.
What was the outcome of the pitch?
Katey accepted Lori Greiner’s offer of $125,000 for 30% ownership of the firm at a valuation of $416,667.
Is still in business?
Yes, the firm is still operating.
How much revenue does she have?
The firm has been growing, and the company will have sales of $1 million in 2021. The firm has already begun selling directly to customers online and is increasing manufacturing for countrywide distribution.
Is her product featured on Shark Tank?
Yes, right after the commercial aired, Lori introduced them on The Dream Carpets Hour.
What is the daily revenue of Frozen Farmer?
There are no official statistics yet about their revenue but there are rumors that they are earning high figures each year.
The company has its products available in around 200 local grocery stores and several restaurant chains.
How is the business model?
The company’s primary business is frozen treats sold at their production facility. They also sell their goods online, through major retailers like Walmart and Kroger, and directly to consumers.
What is their website?
Their website is frozenfarmer.com.
Who are their customers?
The customers are mainly families, restaurants, grocers, and restaurateurs.
The company offers ice cream flavors like pralines & crème, pistachio nutella, cookies & cream, mint chocolate chip, waffle cones, cones topped with fresh fruits or yogurt-based sorbets.
What is their product line?
Frozen Farmer makes frozen dairy treats out of yogurt and uses seasonal fruit flavors to create unique combinations.
Is safe to buy online?
Yes, the company offers their products both online and through retail channels.
What is their license?
Their license is to sell food items.
Who are their competitors?
Ruth’s Chris Steak House, Dairy Queen, El Pollo Loco, Oberto’s Sandwich Shop, Frozen Pizzeria & Gourmet Pizza Company, Auntie Anne’s Pretzels, Mojo Fresh Foods.
Is Frozen Farmer able to ship internationally?
Yes, they can ship internationally if they have a valid license to do so.
What is the net worth of Katey Evans?
The net worth of Katey Evans is estimated at $ 200 million.