Jack’s Stands is a lemonade stand company founded by Jack Bonneau, a young entrepreneur from Colorado, United States. The company started in 2014 when Jack was just eight years old.
Jack’s Stands is a socially responsible lemonade stand business that offers a unique blend of delicious lemonade and a commitment to give back to the community.
Jack’s Stands donates some of its profits to charities and organizations supporting youth entrepreneurship, sustainable business practices, and local communities.
The company has gained recognition for its innovative approach to business and received national attention, including an appearance on the television show Shark Tank. Jack’s Stands is a testament to the power of entrepreneurship, community involvement, and giving back.
Jack’s Stands initially began as a single lemonade stand, but over time, it grew into a larger business that aimed to teach other kids about entrepreneurship, financial literacy, and essential business skills.
Jack’s Stands allows kids to operate their own lemonade stands or marketplace locations to sell various products. The company provides training, support, and materials to help children learn the business’s basics, including budgeting, customer service, and marketing.
Jack Bonneau aims to inspire and empower the next generation of young entrepreneurs through his business, giving them valuable life lessons and experiences they can carry.
What Is Jack’s Stands?
Jack’s Stands is a business started by a young entrepreneur named Jack Bonneau, who began selling lemonade from a stand at the age of 8. The business eventually grew into a marketplace that offers customizable lemonade stands and other products and a program to inspire and educate young entrepreneurs.
The lemonade stands offered by Jack’s Stands are designed to be easily set up and customizable, with different colors and graphics options. The stands are durable, eco-friendly materials and can be used for various events, such as farmers’ markets, festivals, and school fundraisers.
In addition to the lemonade stands, Jack’s Stand also offers a Young Entrepreneurs Marketplace program, which provides training and resources for young people interested in starting their businesses.
The program includes mentorship and guidance from Jack and his team and access to online courses and other resources. Overall, Jack’s Stands is a business that combines entrepreneurship, philanthropy, and education, focusing on inspiring the next generation of business leaders.
|Company Name||Jack’s Stands|
|Product / Business||Entrepreneurial marketplace and support for young people|
|Investment Asking For||$50,000 for a 10% stake in Jack’s Stands|
|Final Deal||$50,000 as a loan at 2% interest|
|Episode||Season 8, Episode 8|
|Business Status||In Business|
Who Is the Founder Of Jack’s Stands?
Jack Bonneau is a young entrepreneur from Colorado, USA, who founded Jack’s Stands and Marketplace in 2014 at 8. His business idea was to set up lemonade stands to earn money and donate some of the profits to charity.
Over time, he expanded his business by creating customizable lemonade stands that could be used for various events and occasions. In addition to providing quality products and services, Jack’s Stands emphasizes giving back to the community.
The company partners with various charities and organizations to support their causes and donate a portion of their profits to them.
Jack Bonneau has been featured in various media outlets for his entrepreneurial spirit and philanthropic efforts. He inspires young people to pursue their business dreams and positively impact society.
Jack’s Stands Before Shark Tank
Before appearing on Shark Tank, Jack’s Stands was a successful lemonade stand and marketplace business founded by Jack Bonneau. Jack started the business at 8 and gained much recognition for his entrepreneurship and philanthropy efforts.
He had also expanded the business beyond traditional lemonade stands by creating customizable stands for various events and occasions. Additionally, Jack’s Stands had partnered with several charities and organizations to donate a portion of their profits to support their causes.
The company had gained significant media attention, and Jack had been featured in several publications and TV shows, including Forbes and The Ellen Show.
Despite his young age, Jack had already made a name for himself in the business world and was known for his impressive work ethic and dedication to giving back to the community.
How Was the Shark Tank Pitch Of Jack’s Stands?
In 2016, when Jack Bonneau was just 10 years old, he appeared on the popular American television show “Shark Tank” to pitch his business, Jack’s Stands.
Shark Tank is a reality show where entrepreneurs present their business ideas to a panel of successful businesspeople, known as “sharks,” hoping to secure an investment to help grow their businesses.
During his pitch, Jack confidently and eloquently explained the concept of Jack’s Stands, emphasizing the importance of teaching entrepreneurship and financial literacy to children. He requested $50,000 in exchange for a 10% equity stake in his company.
The sharks were impressed by Jack’s maturity, passion, and presentation skills. They acknowledged the value of his business model and its potential to impact young people positively.
Upon entering the Shark Tank, Jack revealed that he had already established seven business locations in Colorado and had generated $15,000 in revenue from two mall kiosks. Despite his young age, the sharks admired Jack’s impressive enthusiasm.
Even Kevin O’Leary found merit in the business idea but expressed concern regarding Jack’s ability to manage the business while attending school, leading him to opt-out. Similarly, Mark Cuban questioned the scalability of the business and chose not to invest.
While other sharks had concerns about the scalability of the business and the potential return on investment, one shark, Chris Sacca, saw promise in Jack’s vision.
Conversely, Barbara Corcoran had a unique perspective on the potential direction of the business but respectfully declined to invest. Lori Greiner praised the young entrepreneur for his exceptional oratory skills but also opted out.
Consequently, Chris Sacca remained the sole remaining shark, offering a loan of $50,000 at a 2% interest rate. Jack accepted Sacca’s offer and formed a partnership to develop the business further.
Jack’s appearance on Shark Tank secured funding for his company, raised awareness about the importance of teaching entrepreneurship to children, and garnered significant media attention, which helped propel the growth of Jack’s Stands.
What Happened To Jack’s Stands After Shark Tank?
After appearing on Shark Tank and accepting Chris Sacca’s loan offer, Jack’s Stands continued to grow and expand its reach. The company used the funding to develop new programs and workshops for kids and expanded its lemonade stand operations to new locations.
One of the most significant developments for the company came in 2017 when it partnered with the Colorado Rockies baseball team to sell lemonade at their home games. This partnership provided a major boost for Jack’s Stands and allowed them to reach a much larger audience than they had previously.
In addition to the Colorado Rockies partnership, Jack’s Stands has continued to expand its operations and reach and received numerous awards and honors for promoting entrepreneurship and financial literacy among kids.
Overall, appearing on Shark Tank and accepting Chris Sacca’s loan offer provided a major boost for Jack’s Stands and helped the company to achieve even greater success in the years since.
Jack’s Stands Shark Tank Update
Following its appearance on Shark Tank, a show, Jack’s Stands gained fame. However, he encountered challenges when several major locations refused to allow kids to run his stands.
To address this issue, Jack joined local youth organizations that aimed to cultivate entrepreneurial skills in children. Although Jack Stands is not a highly profitable business, he takes pride that kids have earned thousands of dollars while working and developing their skills.
In the same year, a restaurant in Colorado provided Jack’s team with an opportunity to sell lemonade in their establishment. This experience inspired Jack to start TeenHustl, a hyper-local delivery service that uses bikes, cars, or skates to deliver packages to specified addresses. Currently, TeenHustl operates in two major locations: Broomfield and Denver.
In 2020, Jack faced numerous obstacles due to the Covid-19 pandemic. However, he persevered and was ultimately awarded the Dream Big Young Entrepreneur achievement award.
During his pitch, Jack valued his new start-up, Team Hustl, at $500,000. Team Hustl operates on a delivery business model, and Jack pays the kids who run his stands in various locations. As of 2023, Jack Stands and Team Hustl are profitable and operate smoothly.
Is Jack’s Stands Still In Business?
Yes, Jack’s Stands is still in business and operates successfully. The company has continued to expand its programs and workshops for kids and also operates lemonade stands at various events and locations throughout the year.
In addition to its lemonade stands and educational programs, Jack’s Stands has partnered with other organizations to promote entrepreneurship and financial literacy among young people. For example, the company has partnered with the Young Americans Center for Financial Education and other organizations to offer workshops and camps for kids.
Overall, Jack’s Stands has proven to be a successful and inspiring example of a young entrepreneur who has turned a simple lemonade stand into a thriving business that has made a real difference in the lives of many children.
What Is the Net Worth Of Jack’s Stands?
The valuation of Jack’s Stands was $500,000 when it appeared on Shark Tank. The net worth of Jack’s Stands is $1 million as of 2023.