Here's What Happened To Jack's Stands After Shark Tank
Child entrepreneurs are always an inspiration when they appear on "Shark Tank." It makes you ask yourself, what were you doing when you were 10 years old? Was it making thousands of dollars selling lemonade while simultaneously getting hands-on business and entrepreneurial experience? Jack Bonneau of Jack's Stands & Marketplaces gave one such memorable "Shark Tank" pitch.
Before appearing on "Shark Tank," Jack started a lemonade stand to earn money towards a $400 Lego set. Instead of putting it out front of their house and calling it a day, Jack's father suggested opening a stall at a Denver-area farmer's market. It would be a great learning opportunity and a way to earn some cash for his Lego set. During his first summer at the market, Jack sold $2,000 worth of lemonade, earning himself a tidy $900 profit. It was a deep dive into figuring out expenses, supply, and how to turn a profit. The next summer, Jack hired friends to run lemonade stands at three more farmer's markets. His friends gained entrepreneurial experience, plus a couple of thousand bucks each from sales of $25,000. He even began partnering with other kid entrepreneurs who appeared on "Shark Tank" to sell their products.
When he appeared with his father, Steve, on "Shark Tank," Jack asked for $50,000 for 10% and had seven stands in malls and farmer's and crafter's markets, all staffed by kids wanting to earn a few dollars and gain entrepreneurial experience.
Jack Bonneau and his father hoped to expand the business. His parents loaned him $1,000 for supplies, which he paid back. He then got a $5,000 loan from a bank that works only with kids. He had paid about 60% of that loan at the time of the taping.
All of the Sharks were impressed with Jack's determination and confidence, but they all had qualms about the investment. Kevin O'Leary explained he wants the people he goes into business with to be full-time, and he doesn't want Jack to drop out of school. Mark Cuban loved the idea but didn't think Jack could support kids wanting to do the same outside of the Denver area. Barbara Corcoran bowed out because, between inventory and staffing, she thought the marketplace was too much work compared to running a lemonade stand. And Lori Greiner passed because she felt Jack was too young and encouraged him to return when he was older.
However, guest Shark Chris Sacca can't let Jack leave without an offer. He proposes a $50,000 loan at 2% interest with some conditions attached: He'll let $10,000 go at a time pending a business review. He also encouraged Jack to start a podcast or YouTube channel to inspire other young entrepreneurs. After a whispered conversation with his father, Jack accepted the offer.
After appearing on "Shark Tank," Jack Bonneau made revenue, but according to an interview with Forbes, the kid operators at other Jack's Stands locations stood to make a lot of money from profits, commissions, and tips. However, they started running into problems when kids wanted to open their own stores, so they started working with nonprofits that encourage youth entrepreneurship to have kids work shifts at existing stands. Other like-minded kids operated "thousands" of shifts at Jack's Stands. Certain Colorado-area Good Times burger restaurants sold Jack's Stands lemonade in the summer of 2018, and Jack also launched his own brand of lemonade he hoped to get into shops like Whole Foods and Wegmans.
Following Sacca's advice, Jack started a YouTube channel where he posts videos from his various media appearances, including speaking to the Denver City Council and participating in youth entrepreneur roundtables. He's even spoken at TEDx about his journey as a youth entrepreneur. He's still running the business, and all the money that has been loaned to him has been paid back.
Since Jack Bonneau's "Shark Tank" appearance, the young founder and CEO has been busy. Jack shifted his business model for Jack's Stands to a non-profit model to better help kids interested in entrepreneurship gain the skills to become successful. Ever the entrepreneur, Jack started TeenHustl to deliver Amazon packages from package lockers to customers' homes. The company is staffed by teens who deliver packages on scooters, skateboards, and bicycles — a callback to when teens had paper routes. The company earned a Dream Big Young Entrepreneur Achievement Award from the U.S. Chamber of Commerce, and Jack even pitched his new start-up to the "Shark Tank" casting team. Since then, the company has gone nationwide.
Jack also won the 2022 Prudential Emerging Visionary Award, which is awarded to kids ages 14 to 18 who are making a difference in their communities. Jack was also selected as a candidate in the 2023 U.S. Presidential Scholars program. He also spoke at TEDxYouth again about entrepreneurship in schools. This kid is going places!