The Emperor of Ice Cream is raising $250,000 with a minimum reservation of $5,000. Numbers displayed include non-binding reservations before investors are verified, signed, or closed.
The Emperor of Ice Cream is a modern update on the iconic ice cream truck. We combine novelty with nostalgia to create a 21st century ice cream experience for children and families!
Company establishedMay, 2015
$50K investment obtained from the Hampshire College Seed Fund For InnovationSeptember, 2015
$25K USDA IRP loan obtainedJuly, 2016
Initial sales season ended. $16K gross with 61% profit margin.October, 2016
$10K loan awarded from the Montana Growth Through Agriculture program.December, 2016
$35K loan obtained for company delivery vehicle.November, 2016
Second $50K investment obtained from the Hampshire College Seed Fund For InnovationJune, 2017
Liquor license obtained (for use in formulas, plus added revenues from distribution of third-party products).August, 2017
Second sales season ended. $30K gross with 60% profit margin.October, 2017
Washington state liquor license obtained; began distributing Montana spirits into WA to off-set travel costs to our WA co-packers.October, 2017
A: The real money in ice cream exists in scooping the product, rather than selling pre-packaged pints or quarts. With roughly 96 scoops in a 3-gallon food service tub, and with our tubs costing us about $45~$50 to produce, those 96 scoops at $3.50 each become far more attractive than focus solely on packaged products. We also love the mobile nature of the ice cream truck! It allows us to follow the crowds, and engage with their activities on their terms, rather than carrying overhead for prime commercial real estate and hoping that people show up.
A: We launched our company in Big Sky, MT, a resort town about 45 minutes north of the west entrance to Yellowstone National Park. With only about 2500 year-round residents, but with a massive influx of tourists in the summer, Big Sky served as the perfect testing ground for out concept. We had no direct competition in the area, and could easily predict when and where we might see high volumes of family foot traffic on a given night. We were able to execute an approximate 60% profit margin two years in a row, while continuing to develop our model and production facility. We are now eager to expand into the southwest, where there is a year-round market for ice cream, many food truck-friendly cities, and virtually no competition in the ice cream truck market.
A: It was quite challenging to come up with a reasonable valuation for our startup. After consulting with numerous experts, we ultimately settled on using the Equidam online valuation tool, as it seemed like the most diplomatic approach. This online tool required us to submit quite a bit of information, including all company finances (past and projected); information related to the experience of our management team; and data related to our industry and market of focus. Once all of our information had been submitted, Equidam valued our company at $778,000, which equated to a share price of $1.66 per our 2,000,000 authorized shares.