Tuesday, July 25, 2017

The Profit - Zoe's Chocolate Company Update

Photo - Facebook
Tonight on The Profit, Marcus Lemonis is in Waynesboro, Pennsylvania hoping to make a deal with Zoe's Chocolate Company.  Zoe's Chocolate Company is a third generation chocolate company run by father George and his three children ZoĆ«, Pantelis and Petros.  Their business is suffering due to old-fashioned marketing strategies and a narrow product line.  There are also no processes in place for things such as processing online orders.  The owners of Zoe's are also reluctant to make any changes to their business.

Let's take a look at some information related to Zoe's Chocolate Company as well as what kind of deal was made on the show.

News and Links Related to the Company:

  • Here is the Zoe's Chocolate website and Facebook Page.
  • Zoe's has these four sayings on the bottom of every page of their website: 1. Third Generation Chocolatiers 2. Handcrafted, fresh, pure, and all-natural 3. Made from local and sustainable products 4. Mediterranean heritage and classic American flavors
  • Here is a link to all of the press Zoe's Chocolate Co. has received over the years.
  • The remodeling of the Waynesboro, PA store happened in February 2017 and Zoe's was closed for for a little over a month for the renovations.
  • Zoe's Chocolate Co. has a location in Waynesboro, PA and also has another location in Frederick, MD.
  • Here are the Yelp Reviews of Zoe's Chocolate Company for Waynesboro, PA and Frederick, MD.  They are pretty much all positive and the Frederick location has a lot more reviews than Waynesboro (46 vs. 3).
  • Zoe's Chocolate bars are available on Amazon at the same price that they are on their website.
  • Here is the Facebook Live video and  Twitter video (periscope) of Marcus Lemonis asking fans to place orders on www.zoeschocolate.com.  You can read the comments under those to see what kind of feedback people left regarding the website and their orders.
  • Norwegian Cruise Line is advertising their upcoming appearance on The Profit where Zoe's Chocolate will try to pitch their product. (Link)

The Deal From The Episode Plus Post-Show Updates (this will be updated continually):

  • The Deal: Initial offer - $250,000 for 50% of the business. They agreed on $200,000 for 40% of the business.  The money would be used to pay down debt, organize the facility, product development, address online sales and design a prototype store.
  • In a recent interview, Zoe said they are focused on growing the business and their short-term goals are filling orders that come with the airing of their episode and also preparing for Halloween, Thanksgiving and Christmas.
  • Zoe's offers bars with peanuts, pretzels, toffee, hazelnuts, bacon, coconut, etc.  They also offer other items such as S'mores, chocolate covered pretzels and drinking chocolate.
  • The logo used on the Zoe's website and on their social media looks somewhat different than the new logo developed on the show.
  • In a CNBC update, Pantelis said they "hope to expand Zoe's Chocolate to two or three more U.S. locations and perhaps even a flagship store, as well as expanding overseas."

*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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