Tuesday, February 9, 2016

The Profit - Mr. Green Tea Update

Tonight on The Profit Marcus Lemonis back in Keyport, New Jersey to do a follow up episode at Mr. Green Tea.  Mr. Green Tea was featured on the first season of The Profit, and Marcus is there to give an update on the episode and also to determine how they should move forward with expansion.  As this site doesn't currently have a post dedicated to the business Mr. Green Tea, I figured I would put one together for this follow-up episode.

Let's take a look at some information related to Mr. Green Tea, and what has happened with the company since Marcus visited in season one.

News, The Deal, and Post Show Updates (this will be updated continually):
  • The original deal was $600,000 for 35% of the business to be used toward a new production facility.  That facility ended up costing around $1.3 million.
  • Here is an extended sneak peak of the episode from the CNBC website.
  • Here is the Mr. Green Tea website, and there are currently 6 flavors of their ice cream available.
  • Here is the Mr. Green Tea Facebook Page
  • In August 2014, Mr. Green Tea partnered with Crumbs (owned by Marcus Lemonis at the time) to create a line of Crumbs Ice Cream. (Link)
    • In September 2015, Marcus Lemonis sold his interest in Crumbs Bake Shop, but retained the rights to the Crumbs brand as it pertains to ice cream, cookies and candy products.
    • It appears that the Crumbs Ice Cream has yet to launch.
  • A recent article about Mr. Green Tea says their Green Tea flavor outsells other flavors 5:1.
  • Mr. Green Tea is sold in restaurants as well as all Shop Rite locations.  They also have a pint locator on their website where you can search if pints are available near your location.
  • Sales since the deal have more than doubled with sales of about $5 million.  Also without a  co-packer, they have increased profits.
  • In September 2015, Marcus Lemonis said that Mr. Green Tea would be coming to Walmart soon (Link), but in December 2015 he revealed the deal didn't work out (Link)
  • It looks like Mr. Green Tea is launching a new product line called Mr. Mochi, which is "premium ice cream wrapped in sweet rice dough." (Link).  Also, here is the Mr. Mochi website.
  • There is a contest that will launch tonight to pick the next flavor of Mr. Green Tea, with the winning idea getting $5,000. (Link)
  • Mr. Green Tea has partnered with yogurt shop 16 Handles and they created a new flavor together. (Link)  
  • Marcus said his return on investment for Mr. Green Tea is about 400%. (Link)

*To see how all of the businesses from The Profit are doing, go to the The Profit Updates page, and also Like us on Facebook or Follow Us on Twitter  to stay up to date with all things involving The Profit.      

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