What Happened to Bantam Bagels after Shark Tank?
What is Bantam Bagels?
Bantam Bagels is a creative bakery that delivers bite-sized versions of traditional New York City cuisine, both savory and sweet.
An Everything Bagel stuffed with chopped vegetable cream cheese. A delightful twist on a classic that is sure to wow your taste buds.
Bantam Bagels was founded in 2014 by husband-and-wife team Nick and Elyse Oleksak as a tiny bagel café in Novel York City’s West Village, providing smaller packed bagels and, more importantly, a new method to enjoy a calorific bagel with cream cheese or other schmears.
Who is the founder of Bantam Bagels?
Nick and Elyse Oleksak, a husband and wife team, established Bantam Bagels in 2013. In the fall of 2013, the pair, both former Wall Street traders, opened their doors in New York’s West Village.
Bantam Bagels began around a year ago, when Nick had a dream about the idea and promptly produced the first test batch.
The Oleksak collected finances to establish the shop and begin the business by “going on the road” with their bagels after making dozens of small bagel bites in their home kitchen.
When they first opened in 2013, they drew a lot of attention from the New York media. (The New York Daily News called Bantam Bagels one of the best three bagels in the city.)
Bantam Bagels were invited to the Today Show and even made Oprah’s 2014 “Favorite Things” list as a result of the media frenzy.
They now sell their products on Amazon, their website (3 dozen frozen Bantam Bagels for $35.95), QVC, and at their New York City store.
What Happened to Bantam Bagels at Shark Tank pitch?
In Shark Tank episode 611, Nick and Elyse Oleksak, a husband and wife team, hope the Sharks take a bite out of Bantam Bagels, cream cheese-filled “small bagel bites.” They needed a Shark to help with retail development and national distribution.
Nick and Elyse entered the Shark Tank presentation seeking $275,000 for an 11 percent stake in their business, worth $2.5 million.
The Sharks appreciate them because they educate the public about the bagel business and then offer samples. To eat it without squishing cream cheese all over the place, Nick recommends “finding the hole and biting the hole.”
They’ve made $200,000 in sales since starting the retail firm. They need the money to buy a commercial kitchen and want to keep operating in the retail channel despite the low profits.
They started wholesaling and revealed that they sell on QVC. Kevin agrees that they want to get straight to the consumer. According to Nick, they have received $600,000 in finance from Wall Street.
Robert says that their high-paying Wall Street jobs keep them from being “desperate” (in a good way).
Mark hopes they will figure things out on their own, but he and Robert both exit.
Barbara claims to be the ideal partner and offers $275,000 in exchange for a 51 percent ownership in the company. She claims that they will fail if she went out.
After a little pause, Nick expresses his appreciation for the offer. Mr. Wonderful claims that they require a commercial kitchen, that Nick must leave his job, and that they must go direct to consumer; if they do, he would pay them $275,000 in return for 50% equity shares.
Lori then makes a $275,000 offer for 30% equity shares. Barbara asks a counter-offer, which they agree to make in exchange for a 25% stake in the company.
Lori offers to do it for $275,000 in exchange for 25% stock, which Nick and Elyse accept, and the pitch concludes with a deal.
What Happened to Bantam Bagels After Shark Tank?
Only a few months after their first air date and Lori Greiner’s contract was signed, Bantam Bagels were featured in Beyond the Tank episode 102.
They sold more little bagel balls in one night than they had in two months since their first episode aired! Since then, the company has teamed with a co-packer and launched as “Bagel Stuffins.”
In a season seven update segment on episode 705 of the show, Bantam Bagels kept their brand name but renamed their product “Bagel Stuffins.” Since appearing on Shark Tank, their revenues have climbed from $200,000 to $2.1 million.
Lori supported them in negotiating a collaboration to test the product at 32 New York City Starbucks, which resulted in Bagel Stuffins being added to 400 Starbucks.
They hope to be in all 7000+ stores by the end of the year. Bantam Bagels are also available on all Delta Airlines flights leaving from New York City.
In season eight, episode 810, Bantam Bagels gets a second upgrade. According to the update, Bantam has sold their company for $34 million to T. Marzetti Co., a part of the Lancaster Colony food conglomerate.
Nick and Elyse will remain in charge of the company, which will remain in its original Manhattan location. The annual income of Bantam is $20 million.
They have over 9000 Starbucks stores as of November 2021 and continue to sell online. The goods were available at Aldi stores in December 2021.
The firm is still in operation as of January 2022, with annual revenue of $20 million.
Competitors of Bantam Bagels
Bantam Bagels’ main competitors in the market are Banterwear, Bantrel Co., and Rally Engineering Inc.
Net Worth of Bantam Bagels
During the pitch, the firm was valued at $2.5 million; following Lori Greiner’s investment, the company was valued at $1.1 million. The company has a $34 million net worth.
Bantam Bagels FAQs
What is Bantam Bagels?
Bantam Bagels is a frozen bagel company founded by Nick and Elyse Oleksak, a husband and wife duo. Bantam Bagels makes minuscule cream cheese-filled bagel bits the size of a penny. The bites are available at retail outlets such as Whole Foods Market and on Amazon.
Who is the founder?
Elyse and Nick Oleksak run Bantam Bagels.
How much were they seeking on Shark Tank?
They wanted $275,000 for an 11 percent stake in their firm, which was worth $2.5 million.
How much money did they make on Shark Tank?
Lori Greiner agreed to pay them $275,000 in exchange for 25% ownership of the firm.
Is Bantam Bagels still in operation?
Bantam Bagels is still in operation as of January 2022.
Where can I find Bantam Bagels?
The firm is based in New York City.
How many retail stores does Bantam Bagels have?
Starbucks has almost 9000 stores as of November 2021 and continues to sell online. The goods went on sale in December 2021 and were afterwards available in Aldi stores.
When was Bantam Bagels established?
Bantam Bagels was established in 2013.
What exactly is a Starbucks Bantam Bagel?
An Everything Bagel stuffed with chopped vegetable cream cheese. A delightful twist on a classic that is sure to excite the taste buds.
What are the ingredients in the Everything Bantam bagel?
Enriched Wheat Flour (Wheat Flour, Malted Barley Flour, Niacin, Reduced Iron, Thiamin Mononitrate, Riboflavin, Folic Acid), Water, Diastatic Malt Syrup, Whole Milk, Yeast, Sugar, Salt, Dehydrated Onion, Sesame Seeds, Poppy Seeds, Spices, Cream Cheese (Pasteurized Milk and Cream, Salt, Carob Bean Gum, Cheese Culture),
Is the Bantam Bagels dough frozen?
The little stuffed bagels and pancakes are delivered frozen and on dry ice. Bagels and pancakes can be frozen for up to 18 months from the date of manufacturing once they arrive.
Are Bantam Bagels sold at supermarkets?
Bantam Bagels, an Additional York City-based bagel bakery that originated in a small retail shop in Manhattan’s West Village, has expanded its distribution to over 8,000 new locations, including Starbucks, QVC, Fred Meyer, and many Kroger shops.
Can you freeze Bantam Bagels?
Store frozen until ready to eat. Toast or reheat before serving. Refreezing thawed items is not recommended. Unwrap the Bantams and set them in the microwave or on a microwave-safe pan before frying.
Is it possible to fry Bantam Bagels in the air?
Line the inside of the air fryer with parchment paper. Air fry the Bantam Bagels for 8 minutes at 400° F | 204° C. Enjoy!
Do Bantam Bagels include eggs?
Yes. Enriched Wheat Flour (Wheat Flour, Malted Barley Flour, Niacin, Reduced Iron, Thiamin Mononitrate, Riboflavin, Folic Acid), Water, Sugar, Malt Syrup, Eggs, Yeast, Salt, Ground Cinnamon, Vanilla Extract, Sodium Bicarbonate
What are the calories in a Bantam Bagel?
Bantam Bagels Mini Stuffed Bagels, Everyone’s Favorite has 100.0 calories.
How long Bantam Bagels should be cooked?
Preheat the oven to 400 degrees F. On a baking sheet, bake the bantams for 6 minutes.
How do you microwave Bantam Bagels?
On a baking sheet, bake bantams for 6 minutes. Microwave (Ovens Vary): Microwave for 20 seconds on high. For each succeeding bantam, increase the time by a few seconds. Tip for the Best Bantam Eating Experience: Make sure the entire bantam (both inside and out) is thoroughly defrosted before cooking in the oven or toaster oven!