What Is OatMeals?
Oatmeals, a hip New York eatery, serves this breakfast cuisine for lunch and dinner.
At first, OatMeals was a café where people could customize their oatmeal. There are four dishes at $4.25 each without bacon, chocolate chips, truffle oil, or shaved Parmesan.
Almost any type of food you can imagine, with oatmeal included in inventive variations.
OatMeals offers over 30 sweet, savory, and pastry dishes, perfect for diet or trying something new.
|Product||A Modern Oatmeal Experience At An Oatmeal Bar And Cafe|
|Investment Asking For||$500,000 For 20% equity in OatMeals|
|Final Deal||$500,000 For 33.3% equity in OatMeals|
|Episode||Season 10 Episode 7|
|Business Status||Out Of Business|
Who Is The Founder Of OatMeals?
Samantha Stephens founded Oatmeals NY and served as its executive chef. She grew up in Virginia and then moved to Manhattan to pursue her undergraduate studies.
Samantha began her career in investment banking after graduating from college, but she felt that her true calling remained undiscovered.
She began attending lectures at New York University and The International Culinary Center in 2010 and received her pastry chef certification while working full-time. She also provides guest presentations on female entrepreneurship.
OatMeals Before Shark Tank
While living in New York as a student on a student’s budget, Samantha often ate oats for breakfast, lunch, and dinner.
This inspired her to create unexpected and frequently delectable combinations to spice her diet.
A restaurant featuring oat-based dishes began to form in her mind as she was inspired by New York’s contemporary restaurant scene and her commitment to healthy living.
Therefore, she obtained the requisite qualifications to establish her restaurant midway through 2012 in New York.
The café generated $2.5 million in revenue six years later, besides the money she earned being a spokesperson for Quaker Oats.
She, therefore, began asking for investors to assist her in expanding the business and brand by developing OatMeals items that can be distributed to grocery stores nationwide.
How Was The Shark Tank Pitch Of OatMeals?
Samantha appeared on the Shark Tank requesting an investment of $500,000 in exchange for a 20% stake in OatMeals.
Lori Greiner offered $500,000 for a 33% equity in OatMeals. Samantha Stephens ultimately chooses Lori.
Samantha Stephens walked out of the Shark Tank stage securing a deal from Lori Greiner in OatMeals.
Final Deal: Lori Greiner agreed to invest $500,000 For a 33.3% stake in OatsMeal.
What Happened To OatMeals After Shark Tank?
Six years after the restaurant’s launch in New York in 2012, its owner earned an additional $2.5 million in earnings from his role as a spokesperson for Quaker Oats.
Due to this, she began looking for investors who could help her grow the business and brand and manufacture OatMeals available at grocery stores across the country.
Oat Meals was closed upon the arrival of Covid-19 on January 24, 2021. She continues to be involved with Quaker Oats, promoting a range of Oat Meals worldwide.
Additionally, she is developing a food blog and cookbook to share her unique ideas with oatmeal lovers worldwide. Granola is still available through online retailers.
OatMeals Shark Tank Update
The deal between OatMeals and Lori was never finalized. She would have franchised the business and expanded its footprint in her dreams but was never granted permission to do so.
Regrettably, this enterprise was destroyed by the Covid-19 pandemic. They will cease operations on January 24, 2021.
The Oatmeals Facebook page continues to share Samantha’s oatmeal recipe ideas.
A thorough examination of the Facebook comments revealed the following quotation from Samantha: “It’s sad, but maybe there will be another chapter for OatMeals down the road.”
Is OatMeals Still In Business?
Samantha had to close Oatmeals restaurant indefinitely in early 2021 due to the ongoing effects on the food and service industries caused by COVID limitations. Samantha hasn’t given up, despite the setback.
Oatmeals products are still available online, and she works as a brand ambassador for Quaker Oats, writing blogs and recipe books about the company’s products.
What Is the Net Worth Of OatMeals?
The valuation of OatMeals was $2.5 million when it appeared on Shark Tank. The net worth of OatMeals is unknown as of 2022 since the restaurant was closed in 2021 due to COVID lockdown.