Get ready to be blown away by the success story of The Yard Milkshake Bar! This franchised build-your-own milkshake concept has skyrocketed in value since first appearing on Shark Tank, growing to over $3 million in annual revenue and expanding to 10 states. Let’s dive into the details behind The Yard’s impressive net worth and the factors driving its growth.
Who is The Yard Milkshake Bar?
The Yard Milkshake Bar is a unique, franchised milkshake concept founded by Chelsea and Logan Green in 2017. What started as Chelsea’s creativity in crafting one-of-a-kind milkshakes at her family’s ice cream shop has blossomed into a thriving business with a cult-like following.
The Yard allows customers to customize their milkshakes with various ice cream flavors, toppings, and mix-ins, resulting in decadent and Instagram-worthy creations. With an atmosphere that’s equal parts cozy and fun, The Yard has carved out a distinctive niche in the crowded dessert space.
Who Is The Founder Of The Yard Milkshake Bar?
Chelsea Green is the visionary behind The Yard Milkshake Bar. Growing up in an entrepreneurial family with a convenience store and electrical contracting business background, Chelsea had the drive and creativity to branch out independently.
After opening an ice cream shop with her mother, Chelsea began experimenting with unique milkshake recipes that would become the foundation for The Yard. She teamed up with her husband Logan to turn this passion project into a scalable business model, leveraging their combined business acumen to take The Yard to new heights.
How Was The Shark Tank Pitch The Yard Milkshake Bar?
Seeking to accelerate the growth of their burgeoning milkshake empire, Chelsea and Logan appeared on Shark Tank in 2019, seeking a $400,000 investment in exchange for a 10% equity stake. Their pitch was a sweet success, captivating the sharks with their delectable milkshake samples and impressive financial metrics.
While the sharks were initially concerned about the equity offer being limited to new franchise locations, they were ultimately won over by the strength of The Yard’s business model. Ultimately, the couple struck a deal with Mark Cuban for $400,000 in exchange for a 22% equity stake in future franchise locations.
| Shark | Amount Offered | Equity Offered |
|---|---|---|
| Mark Cuban | $400,000 | 22% equity in new franchises |
| Robert Herjavec | $400,000 | 12.5% equity in all franchises |
| Kevin O’Leary | $400,000 | 15% equity in all franchises |
| Lori Greiner | $400,000 | 12.5% equity in all franchises |
| Daymond John | No Offer | N/A |
The Yard Milkshake Bar Shark Tank Update:
The Yard’s appearance on Shark Tank was pivotal in the company’s history. Since securing Mark Cuban’s investment, The Yard has experienced tremendous growth, franchising locations across ten states and surpassing $3 million in annual revenue. The company has also expanded its product line beyond milkshakes, now offering edible cookie dough and branded merchandise for loyal customers.
What Happened To The Yard Milkshake Bar After Shark Tank?
After the successful Shark Tank pitch, The Yard Milkshake Bar has continued to thrive. The company has rapidly expanded its franchise footprint, opening new locations in Alabama, Florida, Georgia, Arizona, Louisiana, Mississippi, Tennessee, Texas, Virginia, and Washington. This rapid growth has been fueled by the capital and expertise provided by Mark Cuban and the public exposure and acclaim generated by their appearance on the show.
The Yard Milkshake Bar Net Worth:
Given the company’s impressive financial performance and rapid expansion, it’s estimated that The Yard Milkshake Bar’s net worth is more than $15 million. This valuation is based on the company’s robust revenue, strong profit margins, and the value of its franchise system. With a growing customer base and plans for further expansion, The Yard’s net worth is poised to continue climbing in the years to come.
The Yard Milkshake Bar Growth and Operations:
The Yard’s growth strategy has been multi-pronged, leveraging company-owned and franchised locations to scale the business. The company’s flagship stores have demonstrated the concept’s viability, generating over $1.4 million in annual sales for each location. The Yard has also successfully franchised its model, with new franchisees paying a $45,000 licensing fee and agreeing to a 6% royalty on net sales, plus an additional 2% for national marketing efforts.
The Yard Milkshake Bar Marketing and Sales:
A key driver of The Yard’s success has been its effective marketing and sales approach. The company has cultivated a solid social media presence, leveraging platforms like Instagram to showcase its visually stunning milkshake creations and build a loyal following. The Yard has also capitalized on the growing trend of “Instagrammable” and experiential dining, creating an atmosphere encouraging customers to share their experiences with friends and followers.
| Annual Revenue | Franchise Locations |
|---|---|
| Over $3 million | Ten states (Alabama, Florida, Georgia, Arizona, Louisiana, Mississippi, Tennessee, Texas, Virginia, Washington) |
| Flagship Sales (at the time of Shark Tank) | $1.4 million |
| Franchise License Cost | $45,000 for a 10-year license |
The Yard Milkshake Bar Social Media Presence:
The Yard Milkshake Bar has an impressive social media following, with over 200,000 followers on Instagram alone. The company’s visual-forward content, featuring mouth-watering milkshake photos and videos, has helped garner significant engagement and brand awareness. The Yard also leverages customer-generated content, further amplifying its reach and reputation as a must-visit dessert destination.
The Yard Milkshake Bar Interesting Facts:
- The Yard’s milkshakes start at 650 calories, making them true indulgences.
- The company offers a wide range of specialty milkshakes, ranging from $14 to $50 for the largest size.
- Despite the high prices, The Yard maintains impressive profit margins of 25-28% on its milkshakes.
- In addition to milkshakes, The Yard sells edible cookie dough and branded merchandise for loyal fans.
What’s Next For The Yard Milkshake Bar?
The Yard Milkshake Bar’s future looks incredibly bright with its successful Shark Tank appearance, rapid franchise expansion, and growing national reputation. The company plans to continue opening new locations across the country, leveraging its proven business model and the expertise of its franchise partners. Additionally, The Yard may explore opportunities to diversify its product offerings or expand into complementary dessert categories to drive further growth and maintain its position as a leader in the indulgent milkshake space.
Final Words:
The Yard Milkshake Bar’s remarkable journey from a small, family-owned ice cream shop to a multi-million dollar franchise empire is a testament to the power of innovation, creativity, and relentless entrepreneurial spirit. By offering customers a unique and unparalleled milkshake experience, The Yard has carved out a lucrative niche in the crowded dessert market. With its impressive net worth, robust growth trajectory, and loyal customer base, The Yard Milkshake Bar is poised to continue its sweet success for years.
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