Captain Ice Cream
NO DEAL
EPISODE SUMMARY
🕓 Air Date: January 29, 2010
Asking For:
$48,000 for 25%
Investor:
No Deal
Deal:
No Deal
PRODUCT SUMMARY
Captain Ice Cream offers a unique mobile novelty ice cream vending business, centered around ice cream mopeds, aiming to revive the nostalgic image of the ice cream man.
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Background Story
Tim Gavern, the founder of Captain Ice Cream, hails from a family deeply entrenched in the ice cream industry, with a lineage spanning three generations. This familial legacy, dating back to the 1950s, instilled in Gavern a profound appreciation for the joy and nostalgia associated with ice cream. Prior to venturing into the world of frozen treats, Gavern enjoyed a successful career as a car magazine editor. However, as the publishing industry faced challenges, Gavern sought a new avenue to channel his entrepreneurial spirit.
Inspired by his family’s tradition and motivated by a desire to bring back the wholesome, nostalgic image of the ice cream man from his childhood, Gavern conceptualized Captain Ice Cream. His vision was to create a unique mobile novelty ice cream vending business that would stand out in a market saturated with traditional ice cream trucks. The idea of utilizing ice cream mopeds, a concept not seen before in the industry, was born out of Gavern’s innovative thinking and his belief in the power of nostalgia to captivate customers.
With a background in editorial work and a deep-seated passion for ice cream, Gavern embarked on the journey of launching Captain Ice Cream. His aim was not only to offer delicious frozen treats but also to evoke feelings of joy and excitement reminiscent of childhood memories. Rooted in tradition yet driven by innovation, Captain Ice Cream became Gavern’s vehicle for spreading happiness one scoop at a time, aiming to establish a franchise presence in towns across the United States.
The Product
Captain Ice Cream offers a unique mobile ice cream vending experience centered around specially designed ice cream mopeds. These ice cream mopeds are equipped with built-in freezers to store and serve a variety of ice cream novelties, appealing to customers of all ages. The Captain Ice Cream franchise presents a nostalgic and wholesome image, with franchisees donning traditional white uniforms and paper ice cream hats while riding the branded ice cream mopeds.
Customers can enjoy the convenience of purchasing their favorite ice cream treats directly from the Captain Ice Cream moped, which travels to various locations such as events, parks, and neighborhoods. The product lineup includes classic ice cream novelties like popsicles, ice cream sandwiches, and cones, as well as modern favorites like ice cream bars and frozen yogurt.
The unique selling proposition of Captain Ice Cream lies in its ability to evoke feelings of nostalgia and joy, offering customers a memorable experience reminiscent of childhood. With its distinctive branding and mobile vending units, Captain Ice Cream stands out in the crowded ice cream market, providing franchisees with an opportunity to enter the industry with a recognizable and appealing brand.
How It Went
The company’s position before Shark Tank
Captain Ice Cream is currently in its early stages, with founder Tim Gavern being the sole operator of the business. Despite generating some revenue from vending ice cream at events, Gavern admits to barely making a living from the venture. The company’s financial health is precarious, as evidenced by its limited profitability and scalability. At present, Captain Ice Cream does not have any established partnerships or wholesalers.
Gavern operates the business independently, sourcing ice cream products from suppliers to stock the ice cream mopeds. The company primarily targets customers at events, parks, and neighborhoods, aiming to capture the nostalgia and joy associated with traditional ice cream trucks. In terms of funding, Captain Ice Cream relies on Gavern’s personal investment and revenue generated from ice cream sales to sustain its operations. However, the lack of significant profits and high operational costs pose challenges for the company’s growth and expansion.
The company’s current structure is simple, with Gavern serving as the founder and sole proprietor of Captain Ice Cream. There is no formal organizational hierarchy or team in place, as Gavern handles all aspects of the business, including sales, marketing, and operations. Looking ahead, Captain Ice Cream faces the daunting task of establishing itself as a recognizable brand in the competitive ice cream market. To achieve this, the company will need to explore opportunities for partnerships, expand its customer base, and improve its financial viability through strategic planning and investment.
The Negotiations:
During the negotiations, Tim Gavern presented his vision for Captain Ice Cream to the Sharks, seeking $48,000 in exchange for a 25% stake in the business. However, as the discussion unfolded, it became evident that Gavern’s business was still in its infancy, with limited profitability and scalability. While some Sharks expressed admiration for Gavern’s passion and the nostalgic appeal of his concept, they raised concerns about the company’s financial viability and lack of preparedness for franchising.
Despite Gavern’s efforts to highlight the uniqueness of Captain Ice Cream and its potential for growth, the Sharks ultimately passed on investing in the business. They cited reasons such as the absence of established partnerships or wholesalers, Gavern’s inability to make a significant profit from the venture, and the lack of a solid business model for franchisees.
Although Gavern received feedback and constructive criticism from the Sharks, he left the Tank without securing a deal. Kevin O’Leary was the first to bow out, followed by Daymond John and Robert Herjavec, who expressed doubts about the investment opportunity. Mark Cuban and Lori Greiner also opted not to invest, citing concerns about the company’s financial health and Gavern’s readiness to franchise the business. In the end, Gavern’s pitch failed to convince the Sharks of Captain Ice Cream’s potential, leaving him to reflect on the challenges ahead in building his brand and achieving his vision for the company.
