Bantam Bagels Expands to Starbucks Locations Nationwide Thanks to $2 Million Shark Tank Deal
Bantam Bagels are bite-sized stuffed bagel balls that recently appeared on the TV show Shark Tank. Although they were created in New York, the bagel balls are about to be seen nationwide thanks to a deal with Starbucks.
It’s one of many success stories we’ve seen on ABC’s Shark Tank.
Bantam Bagels was founded by Nick and Elyse Oleksak. Back in 2012, the two were both working in the corporate finance world. They took time out of their busy lives to watch Shark Tank every Friday night.
Then, one night in May 2012, Nick dreamed up an idea to make mini bagel balls stuffed with cream cheese. Instead of putting the cream cheese on top – like most bagel places – why not put the cream cheese inside? Nick woke up, jotted down the idea, and the rest is history.
“We were both doing fine and had no reason to go out on our own rather than just wanting to chase the American dream and really go forge our own destiny,” Nick said in an interview with CNBC you can read here. “We were really inspired by Shark Tank.”
The couple created a bagel recipe in their Brooklyn kitchen and quickly went through a friends and family round of seed financing. They used that financing to open their own bakery, Bantam Bagels, in New York City.
At the same time, the pair applied to be contestants on their favorite TV show. In June 2014, the company was invited to pitch their idea on the show.
To prepare for the show Nick and Elyse watched “a ton” of Shark Tank episodes, preparing themselves for any questions the Sharks might ask. They claimed to have studied harder than any college exam – motivated by the fact that they were going up against five of the most influential business leaders in the country.
Obviously, all of that studying paid off, as the pair would sign a deal on Shark Tank.
Bantam Bagels Experiences the Shark Tank Effect
Nick and Elyse went onto Shark Tank aiming for a $275,000 investment deal from Lori Greiner. That’s the exact deal they received – although they had to give up over twice as much equity to get it. Greiner eventually signed the $275,000 deal in exchange for a 25% stake in the business.
The Shark Tank episode aired in January 2015 and the business quickly went through the renowned “Shark Tank effect”. Traffic surged and the website crashed while the episode aired. The next day, traffic at their bakery was lined up at the door at 6am – despite the fact that the bakery didn’t open until 9am.
Before they went on the show, Nick and Elyse had sold $200,000 worth of bagels. A year later, they were doing more than $2 million in business.
Bantam Bagels Signs a Deal with Starbucks
Bantam Bagels continues to grow quickly. The three-person company recently signed a deal with Starbucks to have Bantam Bagels appear in more than 7,700 Starbucks coffee shops across the United States.
The family-run business continues to be a team of three, including Nick and Elyse and Nick’s younger sister. However, they contract out various parts of the supply chain.
What Are Bantam Bagels?
Now that you know the story behind the company, you should probably learn what’s the big deal behind these bagel bites.
Bantam Bagels sells bite-sized bagel balls stuffed with various types of cream cheese. There’s the “Everybody’s Favorite”, for example, which is an everything bagel stuffed with freshly-chopped vegetable cream cheese, or the Grandma Jojo, an Italian spiced bagel topped with a thinly-sliced, marinated tomato stuffed with fresh basil pesto cream cheese.
There are also unique flavors like French Toast, Classic Sesame, Onion Lovin, and Cinnamon Bun.
Bantam Bagels Pricing
You can actually buy the bagels online through BantamBagels.com. The company ships their bagels all across America at a flat rate shipping price of $12. They offer various deals for Shark Tank viewers, including a Shark Tank sampler pack.
Bantam Bagels sell for about $1 per bite. You can buy them in variety packs of 36 ($35.95 per pack plus shipping) or in single flavor packs of 36 ($33.95 per pack plus shipping).
Meanwhile, those who don’t want to order online may be able to find Bantam Bagels at a Starbucks location near you in the very close future. Learn more today by visiting BantamBagels.com.
