What Happened to Sub Zero Ice Cream after Shark Tank pitch?

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What is Sub Zero Ice Cream?

Sub Zero Ice Cream is an ice cream shop where customers may select a cream base and have it flash-frozen with liquid nitrogen.

It’s quite a sight to behold, and because the water does not freeze into gigantic ice crystals, the resulting ice cream is smoother and creamier than traditional ice cream.

The strategy is cost effective since it results in less waste and eliminates the need for freezers.

The ice cream is creamier than other dishes made with liquid nitrogen.

Ice cream lovers may indulge in ice cream at the original Sub Zero Ice Cream store in Utah or at one of the 16 franchised Sub Zero Ice Cream shops.

Hancock and franchisees demonstrate the liquid nitrogen process in local schools, a unique way to promote new franchises.

The company was founded in 2004 and began franchising in 2005; it was recently named to Entrepreneur Magazine’s 2013 Top 500 Franchise list.

Who Founded Sub Zero Ice Cream?

Sub Zero Ice Cream was established by Jerry and Naomi Hancock, a husband and wife team.

Jerry holds a bachelor’s degree in chemistry from Brigham Young University and has worked in design and sales previously. He brings a vast network of thoughts, innovations, and ideas to the frozen dessert industry.

Naomi has taught and worked as a park ranger. She holds degrees in English and secondary teaching. Her expertise bolsters Jerry’s commitment.

Jerry and Naomi Hancock were intrigued by the notion of “customizable cuisine” and desired to apply it to confections.

Jerry, who comes from a chemical background, set out to discover a method for freezing ice cream using just liquid nitrogen.

Jerry and Naomi founded the first Sub Zero Ice Cream in 2004 after stumbling across success and an incredibly innovative approach for creating a delectable and individualized treat.

What became to Sub Zero Ice Cream during the Shark Tank Pitch?

Jerry and Naomi Hancock appeared on Shark Tank season 4 episode 14 asking for a $300,000 investment and a 12% share in their business. This equates to a valuation of $2.5 million.

Fresh ice cream is prepared in front of the consumer in less than a minute from a range of flavours.

The Sharks are delighted with the presentation and quality of the product, but there is more to sweeten the deal.

The firm is well established, with two corporate locations, eighteen franchise locations, and eight more on the way.

Sales were $2 million the previous year, and are expected to reach $4 million the following year.

The couple suffered a financial loss of $500,000 as a result of a disastrous cooperation. They wish to capitalize on the Shark’s marketing prowess.

Daymond indicated that he was unwilling to commit considerable time to helping the company in this manner, and he walked out of conversations for no apparent reason.

Kevin O’Leary does not find the product “interesting,” says the ice cream industry is “very crowded,” and is unaware of the valuation of the company. Kevin was also ejected.

Robert Herjavec does not feel that adding another partner makes sense.

Lori Greiner saw no reason why they required assistance; they were capable of achieving success on their own. As a result, she was unable to attend.

Mark Cuban, the last Shark, has stated that he does not wish to enter the “ice cream franchise industry.” He departs the stage, and the pair exits without an agreement with the Shark.

What became to Sub Zero Ice Cream following its Shark Tank pitch?

Despite the Sharks’ rejection, the firm looks to be gathering momentum.

Franchisees continue to grow both domestically and internationally.

Five years after appearing on Shark Tank, Sub Zero Ice Cream now has over 50 retail outlets around the United States.

Sub Zero Ice Cream was named one of Forbes’ top ten franchises to purchase from Shark Tank in 2017.

While Sub Zero’s unusual ice cream flavour may not have enticed a Shark deal, it is a customer favourite.

As of August 2021, there are more than 50 franchisees operating, generating an annual revenue of more than $5 million.

How much is Sub Zero Ice Cream worth?

Jerry and Naomi Hancock went on Shark Tank seeking $300,000 in return for a 12% share in their business. This equates to a valuation of $2.5 million.

The Company’s current valuation is clearly greater as a result of its growth.

Who are Sub Zero Ice Cream’s competitors?

Sub Zero Ice Cream has recognized rivals.

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Sub Zero Ice Cream FAQS

1. What is Sub Zero Ice Cream?

Sub Zero Ice Cream is an ice cream shop where customers may select a cream base and have it flash frozen with liquid nitrogen.

It’s quite a sight to behold, and because the water does not freeze into gigantic ice crystals, the resulting ice cream is smoother and creamier than traditional ice cream.

The strategy is cost effective since it results in less waste and eliminates the need for freezers.

2. Where can they find Sub Zero Ice Cream?

The company has over 50 locations throughout the United States. Depending on their location, they may be able to find Sub Zero Ice Cream franchises in their area.

3. How much is an ice cream at Sub Zero Ice Cream?

The price of an ice cream at Sub Zero Ice Cream depends on the flavour and size that they select.

4. Who founded Sub Zero Ice Cream?

Jerry and Naomi Hancock founded Sub Zero Ice Cream, a firm that is based in Provo, UT.

5. What ingredients are used to make ice cream?

To make Sub Zero Ice Cream, Jerry and Naomi Hancock use cream base (pasteurized cream diluted with milk and sweetener), frozen fruit puree, sugar syrup, egg yolks, agar powder (a gelatin similar to pectin), and liquid nitrogen.

6. How much were Jerry and Naomi Hancock seeking in the Shark Tank?

In their Shark Tank pitch, the husband and wife pair asked for $300,000 to become a 12% shareholder in their company.

7. Did they get the deal from the Sharks?

No, the couple was unable to secure a deal with the Sharks.

8. How do frozen desserts differ from traditional ice cream?

Sub Zero Ice Cream is popular because it provides a healthier alternative to traditional ice creams.

The firm’s liquid nitrogen freezes the ice cream without creating large ice crystals that water forms in an ordinary freezer.

9. What is annual revenue for Sub Zero Ice Cream?