The Sark Tank Investors love the taste and customization of eCreamery. They say it is the best ice cream they have ever had, but they have too many things going on which causes the Sharks to go out. That hasn’t stopped eCreamery as they are selling online and through an Amazon store.
eCreamery Shark Tank Stats
Entrepreneur: Abby Jordan and Becky App
Company: ECreamery
Website: http://www.ecreamery.com/
Location: Omaha, Nebraska
Episode: Season 4 Episode 402
Ask: $250,000 for 33% equity
Sharks: Mark Cuban, Daymond John, Kevin O’Leary, Barbara Corcoran, Robert Herjavec
Deal: None
Becky and Abby opened their Ice Cream parlor in Omaha, Nebraska. They say you can’t have a frown on your face when you are eating ice cream. They put a new spin on eating ice cream. They are making their ice cream by hand with just the two of them and need the Sharks help to scale their business.
eCreamery lets you create your own ice cream, and they will make it for you and then deliver your personalized flavor to you. Name your own ice cream!
Their ice cream is extremely creamy, and they have sold $2 million since inception at the end of 2007. eCreamery is on track to do $750,000 for the current year, but the company will make $60,000 for the year. They are investing in machinery and tooling.
Their customer Acquisition cost is $20, and they will purchase twice a year.
eCreamery has an investor who put in $600,000 and owns 70% equity. The investor is aware that they are offering 33% equity.
Robert discovered that the online portion would be more profitable if they shut down the retail store.
They ship in a reusable cooler with dry ice. eCreamery sells four pints for an average of $55 plus shipping which costs $25 for a total of $80 for four pints of ice cream. They compare the ice cream cost to the cost of flowers, which Robert Herjavec agrees.
What the Shark Tank Investors say about eCreamery?
Mark Cuban thinks that they have a brilliant idea. They are innovators, but they haven’t been imitated yet. He believes they will, and they will do it locally, so he is out.
Daymond John is out because he is not giving up his money and time when somebody else owns 70% of the company.
Kevin O’Leary makes them an offer for $125,000 for 25% equity if another Shark would be interested in going in on the deal. Kevin thinks this is a massive promotional challenge. He has bad news that he can’t do anything so he is out because the other Sharks will not invest.
Barbara Corcoran doesn’t think they need a partner; they need a loan, so she is out. She believes she would never get her money out of the deal.
Robert Herjavec loves the idea but there is too much going on with the other investor, the online, the retail store and he is out.
What happened to eCreamery after Shark Tank
eCreamery is still going strong. You can buy the ice cream on Amazon for four pints at $49.50 plus $14.99 shipping. The company appeared on Shark Tank in 2013. The following three months after their presentation resulted in $500,000 in sales!
One thing that eCreamery hasn’t done is frequent posts on their blog. The last one was in 2016, but that doesn’t mean they aren’t shipping ice cream. They are probably too busy to focus on their blog which means that they might need someone for their online marketing?
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