Why Shark Tank Investors Choked On L.A.'s New Foodie Fad

SHARK TANK - "Episode 706" - Pitches include a self-described "dad-trepreneur" from Riverview, FL who asks the Sharks to join his "potty" and invest in a device that helps simplify potty-training; and three friends from Los Angeles hope to start a tasty trend with their baked-to-order brownies & cookies mashup. Also, an update on Bettina Chen & Alice Brooks from Sunnyvale, CA and their Roominate inspirational toy business, in which Mark Cuban invested in during Season Six, on "Shark Tank," FRIDAY, OCTOBER 16 (9:00-10:01 p.m., ET) on the ABC Television Network. (ABC/Michael Desmond) MARQUES BROOKS, JOVON ENGLISH, NAIMAH HARRIS (MILK + BROOKIES)
Shark Tank Episode 706: Marques Brooks, Jovon English and Naimah Harris of Milk + Brookies in Los Angeles hope to start a tasty trend with their baked-to-order brownies and cookies mashup. (ABC/Michael Desmond)

New Yorkers have the cronut and San Franciscans the cruffin. Thanks to Milk + Brookies Inc., Angelenos have the brookie, a brownie and cookie hybrid baked like a cupcake. But it may be a long while before lines snake around the block for brookies the way they do cronuts and cruffins. Los Angeles-based, Milk + Brookies has yet to open a store front. It’s still a side project for owners Jovan English and her partners, Marques Brooks and Naimah Harris. They all still work at day jobs and bake from 5 pm to 1 am. They only sell online and through occasional pop-up stands.
Until they dive in full-time, they’re just a “bake sale” as Dallas Mavericks owner Mark Cuban said when Milk + Brookies appeared on Shark Tank in October 2015. They asked for $100,000 for 20% of the business, valuing it at $500,000. The valuation was miles richer than their tasty treats considering they only had $14,000 in gross sales before entering the tank. The sharks surely enjoyed brookies but choked on making an offer, contending it was too early to invest in

The night their episode aired online orders skyrocketed 3000% from the prior day. Thanks to their Shark Tank appearance, they are negotiating a deal with a major TV shopping network. They received numerous inquiries to open brick-and-mortar stores and considered opening a shop inside a hotel chain. They are trying to develop both vegan and sugar-free options but don’t know when those will debut.     
Brookies are baked to order in mouth-watering flavors: red velvet, peanut butter, snickerdoodle and a handful of others. They cost $24 for four, $36 for six or $48 for 12. Brookies used to sell at a trendy Culver City, Calif. wine bar named BottleRock, until it closed down, and an online grocer, OpenTaste, which has also shuttered.
English spent $15,000 of her personal savings to start the business. It started as a hobby in October 2012 and officially launched in February 2015. She spent every waking moment working on the business in some way: baking, masterminding new recipes, creating marketing campaigns and attending events to get exposure.
I cover investing strategies and trends in ETFs and mutual funds.
source by forbes


best weight bench for home


Why Shark Tank Investors Choked On L.A.'s New Foodie Fad Why Shark Tank Investors Choked On L.A.'s New Foodie Fad Reviewed by DAILY TIPS on 2:55:00 AM Rating: 5

No comments

Insurance