Crispy Cones’ latest valuation after Shark Tank!

There was a unique soft serve ice cream in Eastern Europe. They had baked dough cones with various toppings on them, and Crispy Cones brought the concept to the United States. Jeremy and Kaitlyn Carlson pitched their product on Shark Tank and landed a deal with Barbara Corcoran. Today, Crispy Cones is worth an estimated $2 million.

About the Founder

The couple now lives in Rexburg, Idaho, where they both attended Brigham Young University. Jeremy later transferred to and completed his studies at Utah State University.

The two entrepreneurs are Mormons, and Jeremy once served as a missionary for the sect. Caitlin worked as a housekeeper, media relations specialist, and photographer in her early years.

Creation of Crispy Cone

During a two-year mission in the Czech Republic, he fell in love with the local tradition of ice cream served in a crispy cone and wanted to bring this original delicacy back home.

After returning to the United States to continue his studies, he began planning a business in his dorm room. His then-girlfriend, Caitlin, wanted to help with social media marketing, so they became business partners.

The duo launched Crispy Cones from an ice cream truck in 2019. They struggled at first, selling fancy pastries in addition to their main product, but eventually their Czech-style frozen desserts became a hit in Rexburg.

Appeared on Shark Tank

In 2021, the two entrepreneurs opened a second location in Logan, Utah. Local investors subsequently expressed interest in the startup, which prompted Jeremy and Caitlin to start franchising.

After seeing the benefits of franchising, the founders decided to focus their business on franchising as they planned to go international. This would require funding, so the husband and wife team signed up for Shark Tank.

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The entire application process took eight months, but Jeremy and Caitlin Carlson were thrilled to be chosen. The Carlsons shared their story of applying for Shark Tank on social media. “It was surreal to be in front of such famous people,” Caitlin later recalled.

After Shark Tank

The series aired in March 2023, and business has been booming ever since. Crispy Cones has seen a significant increase in franchise applications, and the deal with Barbara was completed just a few months after the show aired. As of February 2024, lifetime sales have now reached $2 million.

They already have a large online following, doubling their Instagram following to over 20,000. Crispy Cones currently has 18 franchise stores and two corporate offices. The company is in the process of opening a headquarters and warehouse in Idaho. The company recently opened new stores in Orlando, Chandler and Arizona.

The initial cost to become a franchisee is $30,000, and if you open multiple locations, the cost per store drops to $25,000. In addition, you will also need to pay a 5% franchise fee and a 1% advertising fee. Other requirements include a net worth of $300,000 and $150,000 in liquid assets.

If you want to try their specialty treats, you can visit their stores in Rexburg, Idaho, and Logan, Utah. Crispy Cones has a 4.5-star rating from 53 users on Yelp. That’s why the product has quickly become a local favorite! The business is worth an estimated $2 million. In personal news, Caitlin gave birth to a baby girl in April 2023!

Categories: Shark Tank

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