The Yard Milkshake is a Franchise Business of Foods and Beverages. This franchise business was founded in 2017. The founder of this business is the husband and wife team Logan and Chelsea Green. Both of them have family entrepreneurs and have been doing business for a long time.
The root of this business is associated with an ice cream shop in 2011, which was started by Chelsea and her mother. To expand the ice cream shop, the daughter and mother opened a second ice cream shop in 2017.
Initially, they focused only on ice creams and desserts, but they decided to include milkshakes as well. After much deliberation, “The Yard” was born.
Investment is needed to expand the franchise business, so both husband and wife decided to go to Shark Tank Season 11 Episode 7. They asked the sharks for $400,000 for 10% equity at $4 Million Valuation.
What is The Yard Milkshake Bar?
The Yard Milkshake Bar is an Alabama-based franchise business model. This company makes milkshakes and ice creams of different flavors.
Their desserts contain nuts, milk, eggs, gluten, etc. If someone is allergic to these things, then this dessert is not for them. Their stores are currently available in states like Florida, Alabama, Texas, Georgia, etc.
|Company Name||The Yard Milkshake Bar|
|Founder||Logan Green and Chelsea Green|
|Product||Is a Restaurant that Offers Premium Ice Cream|
|Asked For||$400k for 10% equity|
|Final Deal||$400k for 22% equity in the franchise business|
|Episode (Shark Tank USA)||S11 E7|
|Air Date||Nov 10, 2019|
|Business Status||In Business|
|Headquarters||Gulf Shores, Alabama, United States|
|Lifetime Worth (Sales)||$53M *estimated|
|Buy and Watch||Buy Now||Amazon Prime|
Another Shark Tank Pitch
Who Is The Founder Of The Yard Milkshake Bar?
The Yard Milkshake Bar is owned by husband and wife team Logan Green and Chelsea Green. Both of them officially launched this business model in 2017.
Logan is an entrepreneur and was a Journeyman Electrician at Green Electric when he was a student at Gulf Shores High School.
How Was The Shark Tank Pitch Of Yard Milkshake Bar?
After entering the shark tank, both Logan and Chelsea explained their business model to the sharks. They asked the sharks to invest $400K in exchange for a 10% stake.
The lifetime net sales of their whole business are $6.4 million. In 2018, they made $3.4 million from their 4 stores, with a profit of $400,000.
Kevin O’Leary made an offer of $400k for a 15% equity in the franchise business and the Corporately owned locations.
Lori Greiner liked the product and marketing strategy, so she offered $400k for 12.5% equity in the franchise business and the Corporately owned locations.
Mark Cuban made a unique offer of $400k for a 25% equity in the franchise business. Founder countered 20% equity but Mark said 22% equity and the deal was finalized.
What Happened To The Yard Milkshake Bar After Shark Tank?
Mark Cuban invests $400k in The Yard milkshake bar business. After this deal, the growth percentage of this business increased further. Mark is a very good mentor and has built a billion-dollar business with his skills.
A few months after this episode of Shark Tank aired, the COVID-19 pandemic hit. Because of this, they had to keep their store closed.
By 2021, this company had opened a total of 18 stores in different locations and their annual revenue per store was more than $1 million.
By 2022, they had opened a total of 23 stores and the annual revenue from each store was $1.2 million.
What’s new on The Yard Milkshake Bar
Last Update: July 13, 2023
By March 24, 2023, 24 stores of this company had been opened in different states. On May 12, 2023, they opened their 24th store in Denver, Colorado. By July 13, 2023, the franchise store of this company has reached 26.
The Yard Milkshake Bar Shark Tank Update
After this episode of Shark Tank aired, many people got to know about this yard milkshake bar franchise business. It may be that many people have taken the franchise of this business because of this episode of Shark Tank.
We’re following Logan Green and Chelsea Green along with their company for further updates.
What Is the Net Worth of The Yard Milkshake Bar?
The Yard Milkshake Bar’s current worth is an estimated $4 million. This company got an investment in Shark Tank at a $1.8 million valuation. According to an anonymous source, the market size of the dessert stores industry in the United States alone was estimated to be $16.8 billion in 2022. Every year this industry is growing at the rate of 3%-5%.
Is The Yard Milkshake Bar Still In Business?
This yard milkshake bar company was officially launched in 2017 and in 2019 this company had 4 franchise stores.
At present, this company is going to open 3-4 franchise stores every year in different cities in the United States.
The current headquarter of this company is in Gulf Shores, Alabama, United States and it has 11-50 employees in the company.
Yes, The Yard Milkshake Bar is still in business as of July 2023.