Shark Tank Update
Shark Tank Pitch
Sub Zero Ice Cream Shark Tank Update
Published:
2m
Provo, UT
| Name | Sub Zero Ice Cream |
|---|---|
| Main Presenters | Jerry Hancock and Naomi Hancock |
| Presenter Image | |
| Product Image | |
| Last Known in Business | 10/9/2022 |
| Main Location | Provo, UT Loading Map |
| Order Shown in Episode | 3 |
| Final Deal | All Sharks went Out |
Sub Zero Ice Cream Shark Tank Pitch
Jerry Hancock and Naomi Hancock created Sub Zero Ice Cream shops with no freezers, making frozen desserts in front of customers by using liquid nitrogen. Jerry struggled to remember his short intro script but quickly recovered. Sub Zero Ice Cream claims to save operation costs by eliminating freezer usage meanwhile improving the customer experience and even outputting a potentially more dense and better-tasting ice cream.
Isn't that what Han Solo was frozen with?
Daymond John frozen like Han Solo
Jerry and Naomi have put $750k into SubZero and took a $275k loan out. 1.5 years ago Jerry and Naomi had a partner whom they felt was making poor business decisions do they bought him out of the company for $500k.
They built two SubZero retail locations, franchised 18, and have eight franchises that recently signed on. Sales in 2011 were $2 million and in 2012 are on track for $4 million.
Jerry and Naomi hope having a shark as a partner can open up access to a-list locations like stadiums that typically prefer companies with a large backing. The sharks enjoy the ice cream but feel the business will require too much of their time, and all sharks go out.
Offers
| Made By | Label | Sharks Part of Deal | Summary |
|---|---|---|---|
| Company | Offered | $300k for 12% of company | |
| Sharks | Out | Daymond John | Out |
| Sharks | Out | Kevin O'Leary | Out |
| Sharks | Out | Robert Herjavec | Out |
| Sharks | Out | Lori Greiner | Out |
| Sharks | Out | Mark Cuban | Out |
Mark Cuban
Out
Daymond John
Out
Kevin O'Leary
Out
Lori Greiner
Out
Robert Herjavec
Out
Updates in Shark Tank Episodes
| Update Season | Update Episode |
|---|---|
| No Episode Updates | |
Sub Zero Ice Cream After Shark Tank
Je did an interview in 2019, here https://www.linkedin.com/pulse/interview-jerry-naomi-hancock-founders-sub-zero-nitrogen-rebecca-patt/?trk=articles_directory where they spoke about their first business being a customizable wrap business. With the burrito business failing in a competitive market, Jerry and Naomi were eventually turned onto the idea of expanding into ice cream which only got legs after the idea of using liquid nitrogen in food came to their attention and Jerry's background in chemistry helped provide some comfort experimenting with the new product.Link Preview
here
Jerry and Naomi saw the potential to get more mobile by doing catering events and school presentations as well as selling take-home products such as cakes and pies that may help offset the seasonality of the business.
While several sources such as franchisetimes.com https://www.franchisetimes.com/sub-zero-ice-cream/article_4ca88537-f362-5472-b827-cd0e7c76797c.html https://subzeroicecream.com in 2018 have reported around 60 Sub Zero Ice Cream locations did a combined total of around $9.7 in annual revenue. According to their website, subzeroicecream.com Link Preview
franchisetimes.com in 2022 the locations section results in around 36 locations.Link Preview
subzeroicecream.com
As of 2022, the name is tweaked to Sub Zero Nitrogen Ice Cream. They are active on Facebook https://www.facebook.com/subzeroicecream.Link Preview
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