Tuesday, February 5, 2019

The Profit - Jackie's Cookie Connection Update

Tonight* on The Profit, Marcus Lemonis is in Los Angeles, California hoping to make a deal with Jackie's Cookie Connection. Jackie's Cookie Connection is a cookie business owned by Rachel Galant which started off as a small shop and grew into a wholesaling company.  There are growing pains for the company and Jackie's Cookie Connection has taken out loans with high interest rates.  This is causing financial issues at the company and there are also angry lenders who are after the money owed to them.

Let's take a look at some information related to Jackie's Cookie Connection as well as what kind of deal was made on the show.

News and Links Related To The Company:

  • Here is the Jackie's Cookie Connection website and Facebook page.
  • Owner Rachel Galant also has a blog on the website.
  • The cookies available on the website sell for $7 per 6 oz., $14 for 12 oz., and $20 for 24 oz. plus shipping costs.  Gluten free are a little bit extra.
  • Jackie' Cookies sells larger cookies at their storefront, but they also sell "Jackie's Cookie Babies, a little "crispity, crunchity" version of their original large, soft, oven-fresh cookies."
  • Jackie's Cookies Babies are available for sale on Amazon.
  • Here is a link to a BlueVine article that details the financing that Rachel used to help grow Jackie's Cookie Connection. (Link)
  • Here are some Yelp reviews that are listed under Jackie's Art Studio Cafe. (Link)
  • Jackie's Cookie Connection LLC filed for Chapter 11 Bankruptcy in December 2018.  There are over 40 documents that detail the status of the case at this link.
    • Judging by this, I would assume a deal was not made on the show.  Also, Jackie's Cookie Connection is making no mention of the appearance on The Profit on social media, which sometimes means a deal wasn't made.
  • Marcus Lemonis made a deal with another cookie company in season 5 of The Profit at Mr. Cory's Cookies.
*The original air date for this got pushed back a week to February 12, 2019.

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

  • The Deal - There was no deal made on this episode due to the state of the balance sheet.  It was more of an episode of Marcus providing consulting and giving Jackie's Cookie Connection options on how to continue business.
  • Lenders agreed to convert to equity, but they wanted Rachel to have 25% equity.  Rachel wanted to have 35% equity, but the lenders would only go down to 30% which she agreed to.
  • When Marcus tried to move forward with his plans to move the business to a co-packer, more details about the business came out and he decided to give up and walk out.
  • As stated above Jackie's Cookie Connection filed for bankruptcy in December 2018, but they continue to operate.

*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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