Cereal Killerz co-founders Jessica and Jason Burns appeared on Shark Tank to pitch their business, offering investors $125,000 in exchange for 10% stock.
Although the Cereal Killerz did not secure money from the Shark Tank show, this demand suggests that they are still worth $1.2 million.
The first location of the one-of-a-kind cafe Cereal Killerz opened in June of 2018 in Las Vegas. The creator of this product conducted extensive research and development before establishing this company. After much trial and error, the Cereal Killerz Business Idea was conceived.
After the initial cereal bar was so well received, he and his team decided to experiment with other varieties.
Many parents include this bar in their morning breakfast routine since their children enjoy it so much. To create a new flavor, it combines sweets, cookies, and pop tarts.
More than 140 varieties of cereal, both with and without milk, are available in the Cereal Killerz Kitchen. In addition, it offers ice creams that are both delicious and sugary.
Customers can get a good night’s rest thanks to the basic bowls, waffles, ice creams, milkshakes, etc., that the shop churns out.
What Happened to Cereal Killerz After Shark Tank?
The company’s first location, at the Sunset Galleria, opened its doors this year. A further two locations of the eatery have been established since then. Their company is doing well even during the pandemic. Their new stores were able to turn in profit in just 7 weeks.
There are more than 100 cereals available to purchase at Cereal Killerz Kitchen. Cereal-based snacks, cookies, cupcakes, waffles, and more are also available for purchase. A variety of beverages, including coffees, teas, ice creams, and cereal tacos, are now available for purchase.
What’s the Valuation of the Cereal Killerz?
In 2020, the price tag for Cereal Killerz Kitchen will reach over $1,250,000. The creators want to invest their personal money which is roughly $40,000 to $50,000 for expansion.
Two more businesses have opened in Las Vegas, each with an initial investment of around $25,000.
Cereal Killerz Kitchen went to Shark Tank seeking an investment of $125,000 but they failed to make deal with any of the investors. The founders are aiming to invest their personal money for expansion which is roughly $40,000 to $50,000.
American food manufacturer Kellogg’s. They have a worldwide reputation thanks to the success of their cereals. There is a case to be made that Kellogg’s is the largest food and cereal manufacturer in the world. Its revenues are $3.5 billion in 2019.
Is the Company Profitable?
The original restaurant location will be permanently shuttered as of October 2020. However, they have plans to open two eateries in separate cities. The second of their stores opened on the Las Vegas Strip on October 30, 2020.
The couple expressed their gratitude for everyone’s kind words in a Facebook post. The COVID era, however, has not stopped them from opening new stores. And after only 7 weeks in business, their new shop was already profitable.
Cereal Killerz Shark Tank Recap
Christopher and Jessica wear hockey goalie masks (a la Halloween) as they visit the Shark Tank in hopes of securing a $125,000 investment in exchange for a 10% stake in their company. They outline the philosophy behind their company, “where every day is Saturday.”
Each Shark has set out three of its favorite shakes for everyone to try. Their mall location, they claim, is doomed to fail, so they’re setting up shop directly across the street.
When asked about their plans to expand, they say they have between $40,000 and $50,000 set aside. It costs them $8000 every month to be in the mall.
For Kevin, the company has no special secrets. Lori reveals that she has a conflict of interest because of a deal she made with an oatmeal breakfast bar (Oatmeals).
Robert leaves because he believes it is tough to launch a retail business and establish a brand from scratch. Too early, in Kevin’s opinion, therefore he’s leaving.
Mark insists they get a lawyer or accountant for advice because they aren’t ready for an investor and he claims they can’t figure it out on their own. Daymond says he’s getting emotionally tied to the deal, but it’s not investable for him; he’s out.
Cereal Killerz Shark Tank Update
The Shark Tank Blog constantly gives updates and follow-ups regarding entrepreneurs that have participated in the Shark Tank TV show. The company closed its old mall site but reopened in the Miracle Mile Mall at Planet Hollywood in April 2021.
They also have 2 more locations: one in the Centennial Hills neighborhood of Las Vegas and one in Goodyear, AZ.
They’re also actively looking for franchisees now. They intend to open more shops in Vegas in 2022. By the end of July 2022, no new stores will have been opened. Henderson, Nevada is now home to their fourth site as of July 2022. The company pulls in $4 million a year in sales.
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