The Yard Milkshake Bar Before Shark Tank
When people think of milkshakes, they tend to think of a basic milkshake – plain strawberry, chocolate, or vanilla ice cream with some whipped topping. Maybe even some sprinkles and a cherry on top. Although many people are fond of those milkshakes, one couple from Gulf Shores, Alabama decided the standard milkshake could use a bit of pizzazz.
Logan and Chelsea Green, the married, entrepreneurial team, founded their company, The Yard Milkshake Bar, in 2017. Logan and Chelsea had both come from entrepreneurial families; Logan worked with his parents as an electrician, while Chelsea worked in a convenience store that was owned by her parents. Although, Chelsea had always wanted to move on to a business of her own. With that being said, in 2011, Chelsea ended up opening an ice cream shop with her mother; however, while she liked having her own business, she wasn’t a big fan of the basic ice cream shop.
After some thought, Chelsea realized that she wanted her business to be something fresh and fun, something to stand out from other ice cream shops. Fast forward to 2017, when the ice cream entrepreneurs opened their second shop. At this point, Logan and Chelsea were already together, and it was at this time that Chelsea decided to kick start her creativity and create the cherry on top of a basic ice cream shop. Literally. So, they got to brainstorming and eventually discovered that milkshakes with a twist were the best way to go. Thus introducing The Yard Milkshake Bar.
The Yard Milkshake Bar is bringing a fun, new twist to milkshakes all around the world. Rather than the basic milkshake, The Yard Milkshake Bar serves its milkshakes in mason jars with ice cream, syrups, cakes, donuts, candy, sprinkles, and much more. The milkshakes are completely customizable depending on whatever the customer wants, although customers can also order any of their signature milkshakes from the menu. The ideas for the signature milkshakes were first created by Chelsea herself; however, employees and customers seem to be pitching new ones as well.
Following their official launch, the company eventually was able to open new locations in Hattiesburg and D’Iberville, Mississippi, Fairhope, Alabama, Panama City Beach, Florida, and, Austin, Texas. To kick start their business, Logan and Chelsea hosted a Fun Shine Care Bear meet-and-greet at one of their locations in Austin, Texas. During this event, customers had the chance to win prizes, as well as taste test The Yard Milkshake Bar’s signature Care Bear-themed milkshakes. Although it is clear that Logan and Chelsea have certainly mastered the success of running a business, they would like the help of the sharks of Shark Tank sharks to further expand the businesses overall growth. Can the Greens impress a shark into investing in The Yard Milkshake Bar?
The Yard Milkshake Bar on Shark Tank
Logan and Chelsea Green take their chances on the Shark Tank stage in search of $400,000 for a 10% equity in their franchise, The Yard Milkshake Bar. To start off their pitch, they hand each shark a sample milkshake, followed by their fascinating introduction to their not-so-basic milkshakes. During the pitch, they invited Mark up to the stage to create his own milkshake masterpiece. Overall, all the sharks love the milkshakes and they think they’re delectable; however, they have a concern about the calorie intake per milkshake. The Greens responded, saying that each milkshake is anywhere from 650 to up to 1800 calories.
The Greens mention the multiple franchises that The Yard Milkshake Bar has in multiple states, and Logan mentions that spreading the franchises further would be quite easy, considering how popular the company is. In addition to that, the company has an architectural team that would help with the expanding of the franchises. Given that, the entrepreneurs start bringing up the big numbers.
The couple mentions that, within just one year, they have profited $400,000 from just four The Yard Milkshake Bar locations. Additionally, a single one of their franchises sells for $45,000 with a 6% sales royalty and a 2% royalty on marketing. With that being said, opening a new franchise would easily cost them anywhere from $140,000 to up to $315,000. With that being said, The Yard Milkshake Bar is quite the success thus far, so why haven’t they expanded their franchises further than the four current locations? Seems as if the sharks are wondering the same thing.
The sharks question the Greens, asking them why they want an investor for their business, in which Logan responds, saying that a sharks investment could save them time from having to learn what they don’t know. The couple mentions that their overall sales have reached $1.4 million just from their first, initial location. With that, they told the sharks that any investments from a shark would go straight into the equity needed to open more franchises.
Getting into the final offers, Robert immediately drops out because he feels like the stores aren’t selling as much as the first location. Following him, Daymond explains that he is already invested in a similar business; he’s out as well. Kevin, on the other hand, offers $400,000 with a 15% stake in everything the company has. Lori seconds this and offers the same, but with a 12.5% stake. Considering neither of the offers presented were what the Greens had in mind, they held off. Mark then chimes in and offers $400,000 for a 25% equity in The Yard Milkshake Bar; however, the Greens convince him to drop the equity to 22%. He does, and they accept Mark’s offer of $400,000 for a 22% equity in The Yard Milkshake Bar.
The Yard Milkshake Bar Now in 2023 – The After Shark Tank Update
Since Logan and Chelsea Green appeared on Shark Tank, it’s been said that the deal with Mark had not been finalized; however, The Yard Milkshake Bar remains in business and is expanding successfully. The Greens had plans to open a new franchise in the summer of 2020, though it is believed that the pandemic was going to put that expansion on pause for a bit.
Although the pandemic may have slowed their plans to expand so soon, as of 2023, The Yard Milkshake Bar has successfully opened over 15 new locations, with more coming in the near future. In fact, each of their locations has brought in up to $1.2 million in sales in just a few years. Just a few of those new locations are in Florida, Georgia, Washington, Arizona, Louisiana, Tennessee, and Virginia. Although they’re looking further into placing locations more around Texas as well.
At this time, it’s clear that Logan and Chelsea Green have been able to expand their business successfully without the help of a finalized investment in their company. The Yard Milkshake Bar has reached substantial growths within the past few years and looks as though it will continue improving. In fact, earlier this year, the Greens actually had the opportunity to participate in Dessert Wars, where they got to take home the first place trophy. The photo of that win, along with many photos of their delectable milkshakes, can be found on their Instagram account, although they don’t appear to be active on there at this time.