Over the top milkshakes in Mississippi bring “Shark Tank” investors to The Yard
One Gulf Coast milkshake shop got more than just a nibble from one of the sharks on the hit television show “Shark Tank.”
In Sunday night’s episode of the ABC show, husband-and-wife team Logan and Chelsea Green asked the “sharks” to invest in The Yard Milkshake Bar, a milkshake shop known for its over-the-top desserts.
The couple asked for an investment of $400,000 into the business, which currently has four locations, including one in D’Iberville. They also own stores in Alabama, Florida and Texas. A new franchise opened in Hattiesburg just one day after the “Shark Tank” broadcast on Monday.
One the show, Logan and Chelsea shocked the sharks when they said potential investments would only be for future franchises, not the existing stores that are open now. After all of the sharks expressed concern over the franchise-only deal, Logan and Chelsea said they would consider expanding the offer to include the four existing stores.
Mark Cuban was the only shark who said he was okay with the couple keeping their four existing locations.
He beat out Kevin O’Leary who offered $400,000 for a 15 percent stake in the franchise business and the corporately owned locations and Lori Greiner offered $400,000 for 12.5 percent and a stake in the existing locations as well. Daymond John declined the couple’s offer.
“I want you guys to use the $400,000 to open up units and I want 25 percent, not of the existing units, but of the new business,” Cuban said.
After a bit of haggling, Cuban and the couple agreed to a $400,000 deal with a 22 percent stake in the new businesses only.