Crispy Cones after Shark Tank: What happened to the business idea?

Crispy Cones is a fast-growing dessert company located in twelve states, earning about $1 million in annual revenue. The company's proprietors, Jeremy and Kaitlyn Carlson, secured a $200,000 deal for 20% equity with Barbara Corcoran during their appearance on Shark Tank Season 14.

Key takeaway

• Crispy Cones secured a $200,000 deal for 20% equity with Barbara Corcoran on Shark Tank Season 14, episode 17.
• Established in 2018 in a roadside tent, the company has grown to earn $1 million annually from running locations in 18 cities.
• With its strong franchise demand, the company has signed over more than 100 franchise units as of September 2025.
• To open a franchise with Crispy Cones, you will need to pay a franchise fee of $35,000, with total costs ranging between $199,000 and $567,000.

What happened to Crispy Cones after Shark Tank?

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After accepting Corcoran’s deal, Jeremy and Kaitlyn Carlson expanded their footprint with an initial franchise location in Fort Wayne, Indiana, and seven more in Utah and Arizona by March 2024. Since then, the company has expanded into eleven more states, including California, USA.

The Fort Wayne shop is the couple's first franchise, run by local investors Doug Carroll and his wife, Julie Carroll. Here are all Crispy Cones locations open at the time of writing and those coming soon, as per the company's website.

How much is Crispy Cones' annual revenue?

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From bringing in a humble $20,000 in 2019 in a roadside tent, Crispy Cones’ growth can be seen in its revenue. Before appearing on Shark Tank, the company had recorded a little less than $500,000 in sales. According to Shark Tank Blog, by late 2023, Crispy Cones had sold more than $2 million in lifetime sales.

In 2025, the establishment reports an annual revenue of about $1 million. The company's revenue, profit, and total sales records in 2023 and 2024 are not publicly available. Here is how the business’s revenue has grown since 2018.

How much is a Crispy Cones franchise?

According to Crispy Cone's franchise info, the initial fee charged is $35,000. If you plan to buy a territory with more locations, each extra store costs $30,000. Ongoing fees, such as royalties and advertising fees, cost 7% of the franchise's gross sales and are paid to the parent company.

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Building costs generally fall under the franchisee's responsibility. Additionally, interested franchisees must have $100,000 in liquid assets and a net worth of at least $300,000.

The Franchise Times reports that the total cost of opening a Crispy Cones franchise lies between $199,250 and $567,000. The franchises generate annual gross sales ranging between $190,000 and $225,000.

Who owns Crispy Cones?

The dessert company was founded by Jeremy Carlson and Kaitlyn, his wife. The pair met during the inception stages of the business when Jeremy hired her to be his social media manager.

The cones were inspired by pastries the former Shark Tank entrepreneur had enjoyed while in the Czech Republic during a two-year mission trip for the Church of Latter-day Saints. The European sweet treat, known as Trdelník or chimney cake, was baptised Crispy Cones in May 2018, when he started the business.

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What are Crispy Cones made of?

A Crispý Cone is a dough cone, grilled rotisserie-style and covered with cinnamon and sugar or a speciality powder. The cone is filled with a spread of your choice, soft-serve ice cream, fruit, and a variety of toppings.

The cone dessert menu comes in various unique tastes, such as La Lune Rose, Berlin Daydream, Alpine Ambition, Pistachio Prado, Velvet Prague, and La Vie Mint. Prominent flavours include mint, cookie butter, cookie dough, pistachio, and more.

Is Crispy Cones still in business?

Crispy Cones ranks among the most successful businesses featured on Shark Tank. The company continues to thrive and grow, with established franchises in 12 American states and more applications being considered.

Which Shark Tank episode was Crispy Cones in?

Jeremy Carlson and his wife, Kaitlyn, took their chance to apply for a spot on the show during the 2023/2024 application window. Their pitch aired on 17th March 2024 in episode 17 of Shark Tank Season 14.

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Did Shark Tank invest in Crispy Cones?

In their business pitch in front of Mark Cuban, Barbara Corcoran, Kevin O'Leary, Lori Greiner, and Robert Herjavec, Jeremy sought $200,000 for 10% equity. The Crispy Cones' owners initially received a 25% equity deal from Barbara Corcoran, which Jeremy countered with a 17% stake. In the end, they agreed on a $200,000 investment for a 20% ownership stake.

What is Crispy Cones' net worth?

At the time of this writing, Shark Tank Insights and Shark Tank Blog report that the company's net worth is valued at $1.21 million.

The growth seen in Crispy Cones after Shark Tank can be attributed to its fruitful partnerships with Barbara Corcoran and global food distributor Sysco. Following its national television debut, Crispy Cones has grown into a rapidly expanding franchise with planned and opened locations in 12 states and a million-dollar annual revenue.

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At the end of their pitch, the product's inventors, Alyssa and Zachary Brown, received a $3 million offer for the entire company. Discover how the product has been faring after the 2019 episode.

Proofreading by Kola Muhammed, copy editor at Legit.ng.

Source: Legit.ng