The Yard Milkshake Bar Shark Tank Net Worth 2023
The Yard Milkshake Bar’s net worth is not available to the public, but when they presented on Shark Tank season 11 episode 7 and sought a $400,000 investment for 10% of their company, it was valued at $4 million.
Although Mark Cuban offered them $400,000 for a 22% stake, reducing their valuation to $1.8 million at that time, the business has grown significantly since then and its current value is likely much higher.
What is The Yard Milkshake Bar? Who are the Founders of The Yard Milkshake Bar?
The Yard Milkshake Bar is a specialty milkshake store known for its unique, over-the-top milkshakes and options to make your creation. The menu includes 18 unique shakes and sundaes, 30 ice cream varieties, and 30 specialty toppings.
The Yard Milkshake Bar founders are Logan and Chelsea Green, a husband and wife team who hail from entrepreneurial households and have experience working in the food industry. They first opened in May 2017 in Gulf Shores, Alabama, and have since expanded to several locations.
What Happened to The Yard Milkshake Bar at Shark Tank Pitch?
Logan and Chelsea Green, who founded The Yard Milkshake Bar, appeared on an episode of Shark Tank during the 11th season to pitch their franchise business and secure a $400,000 investment for a 10% stake in their company, which was valued at $4 million.
During the pitch, they provided samples of their milkshakes, and the Sharks inquired about calorie counts, as the shakes contained anywhere from 650 to 1800 calories. The Greens informed them that they had four locations, one franchise, and one in progress.
Their net sales last year were $3.4 million, resulting in a $400,000 profit. When asked why they were seeking a partner, Logan argued that it would provide them with “a decade of expertise.”
The Yard Milkshake Bar was presently selling franchises for $45,000, with a 6% sales royalty and 2% marketing royalty. The total cost of opening a franchise ranges from $140,000 to $315,000.
Mr. Wonderful offered $400k for a 15% stake in the franchise and corporate-owned sites. However, Shark Daymond John withdrew from the deal since the ice cream shop would compete with his other business ventures.
Shark Lori Greiner offered $400k for a 12.5% stake in The Yard, and Shark Mark Cuban offered $400k for a 25% stake in the existing franchises and future franchise enterprise. After some negotiation, Green accepted Cuban’s counteroffer of a 22% stake in their company.
What Happened to The Yard Milkshake Bar after the Shark Tank Pitch?
After featuring on Shark Tank, The Yard Milkshake Bar experienced a significant surge in popularity and recognition. Although the proposed agreement with Mark Cuban did not materialize, the company still aimed to launch a new franchise site in the summer of 2020, which may have been delayed due to the pandemic.
As of July 2021, the enterprise had 15 branches, and a 16th location was established in The Colony, Texas, by franchise proprietors Anthony and Kelly DiPasquale.
They have plans to inaugurate more branches in San Antonio, Houston, and other regions of Dallas, with each store generating an annual income of $800,000 to $1.2 million.
In August 2021, the business announced its plan to open a new store in Tampa in the fall of the same year. Additionally, in November 2021, the company announced the opening of its 18th store at The Strand, located at St. Johns Town Centre in Jacksonville, Florida.
What is the Net Worth of The Yard Milkshake Bar?
The net worth of The Yard Milkshake Bar is not publicly available, but the company was valued at $4 million when they appeared on Shark Tank season 11 episode 7 and sought an investment of $400,000 for a 10% stake.
They accepted an offer from Mark Cuban of $400,000 for a 22% stake, which would have lowered the company’s valuation to $1.8 million at that time. However, since then, the company has grown, so the current valuation of The Yard Milkshake Bar is likely higher.
Who are the Competitors of The Yard Milkshake Bar?
There are no competitors identified for The Yard Milkshake Bar.
The Yard Milkshake Bar FAQS
What is The Yard Milkshake Bar?
The Yard Milkshake Bar is an ice cream franchise in the United States.
It is known for its unique and customized milkshakes, shakes, and sundaes.
Who founded The Yard Milkshake Bar?
The company was founded in 2017 by Logan and Chelsea Green from Gulf Shores, Alabama.
How much were they seeking in the Shark Tank?
Logan and Chelsea appeared on Shark Tank season 11, episode 7, in search of $400,000 for a 10% stake in their franchise company. This equates to a $4 million valuation.
Did he get the deal from the Sharks?
They accepted an offer from Mark of $400,000 for a 22% stake, which brings the valuation to $1.8 million.
Is The Yard Milkshake Bar still in business?
Yes, the firm has 18 stores as of November 2021.
Where did the yard milkshake bar originate?
Logan and Chelsea established their first store in their hometown of Gulf Shores, Alabama, in May 2017.
How much is the yard milkshake worth?
The Yard Milkshake Bar offers large, colorful treats for $14 to $20.
What are their franchise costs?
A franchise fee should have a low-end cost of $144,000 and a high-end cost of $313,000.
Where are the Franchise Stores located?
They have stores in Panama City Beach, Florida; Fairhope, Alabama; Austin, Texas; D’Iberville and Hattiesburg, Mississippi; and their newest location at The Strand at St. Johns Town Centre in Jacksonville, Florida.
How many calories are in The Yard Milkshake Bar?
Each shake contains anything from 650 to 1800 calories.
What are the ingredients in The Yard Milkshake Bar?
It consists of Cookie Dough ice cream with purple and gold marshmallow cream within a vanilla iced jar wrapped in Tiger Sprinkles.
It’s topped with purple and gold whipped cream, a scoop of chocolate chip cookie dough, additional Tiger Sprinkles, and a purple Tiger Paw.
The Yard Milkshake Bar has how many locations?
The Yard Milkshake Bar now has 18 locations around the United States.
What is the website address of The Yard Milkshake Bar?
Their website is www.theyardmilkshakebar.com