The Yard Milkshake Bar: Here's What Happened After Shark Tank

When husband and wife team Chelsea and Logan Green wanted to open a second ice cream shop location, they decided to make something new and exciting. Though Chelsea's previous dessert shop, Island Ice Cream, was successful, the pair of entrepreneurs wanted to try something different to draw in customers. In 2017, they opened The Yard Milkshake Bar in their hometown of Gulf Shores, Alabama to wild local success.

Though they set up shop in a location that had previously held other failed ice cream shops, locals lined up around the block for a taste of The Yard's desserts. The couple quickly felt that they simply couldn't keep up with demand and decided to open new locations in Austin, Panama City, and Fairhope in the following years. Toting a wide array of shockingly Instagram-worthy milkshakes, including the half-gallon Shake Boss, with dozens of toppings, flavors, and frostings, the couple felt they could achieve great success and growth on their own. However, they wanted to accelerate the process by seeking outside investors.

Neither of the Greens was new to entrepreneurship, so they knew their business had great potential with the right people behind it. With Logan's sister-in-law (their Chief of Operations), Ali, in tow, The Yard's team brought their business to "Shark Tank," offering 10% of their future franchise business in exchange for a $400,000 investment.

The Greens began their pitch by having each Shark design and enjoy their own milkshake, though there was a joke cracked about Mark Cuban's lactose intolerance. The team behind The Yard's success explained their successful franchising system, offering a 10-year license for $45,000 with a 6% royalty on net sales and a 2% royalty on national marketing. They also offered extensive support for franchisees from free equipment to access to an architectural design team.

Kevin O'Leary wanted to immediately dive into the nitty-gritty of The Yard's profits, asking about the margins of its first location. The Sharks applauded when they heard it was an impressive 25% to 28% and were stunned by the cost-sales ratio of the products. However, things soon grew contentious when The Yard's team revealed that the 10% offer applied only to their future franchise business.

Despite the Sharks' reticence over not receiving any profit from corporate-owned stores, they were impressed by The Yard's previous year's sales of $3.4 million, nearly half of its lifetime revenue, with a $400,000 profit. O'Leary offered them the money for 15% of both the franchise and corporate store's future business, Lori Greiner offered it for 12.5% of the franchise and corporate profits, but it was Mark Cuban who made the most tempting offer. For $400,000 he would receive 25% of all future franchise business. The Yard joyfully accepted Cuban's modified offer of 22%.

Despite accepting Cuban's offer, the deal never appears to have finalized after the episode — the business is noticeably absent from Mark Cuban's "Shark Tank" business page. However, the Greens' prediction that they could achieve success on their own proved correct. Though they didn't receive the $400,000 investment, their appearance on "Shark Tank" garnered their business enough publicity to spur a new level of growth. The Yard now has 31 locations in 16 states and is swiftly becoming a nationally-recognized chain.

Aside from their deliciousness, The Yard has always been famous for how picturesque its milkshakes are. Social media posts featuring sweet treats from The Yard exploded across TikTok and Instagram following the brand's appearance on "Shark Tank," a trend the business has seized upon. The business now offers merchandise – such as t-shirts, stickers, and a "unicow" plush doll to capitalize on its popularity.

The Yard's growing popularity also spurred its owners to streamline its franchising process. Ample amounts of information can be found on the business' website on how to set up your own store, including all the support you would receive and the required payments and royalty fees associated with owning a franchise. The Yard already offered excellent desserts, but it seems as if its business acumen has grown to match the quality of its offerings.

Despite some hiccups during the pandemic, The Yard Milkshake Bar continues to be a thriving business. Many of its franchises in city centers, such as downtown Atlanta, have grown to be major destinations for locals and tourists alike.

It plans to maintain its method of growth by focusing on franchising. Though its corporate-owned stores maintain their positions as the most profitable brick-and-mortar establishments, franchising allows the Greens to take a more hands-off approach to increasing the business's revenue and frees them up to focus on the larger business plans. Franchises have quite a bit of freedom in how they operate, making their own regional shakes, such as Jacksonville's Cheerwine Float or Branson's In My Taylor Era shake. 

It seems that the quality of the business's offerings made it sturdy enough to withstand the fallout of the COVID-19 pandemic. The Yard opened many new locations during this time, expanding out of Southern states and growing its brand. From its humble beginning in Alabama, The Yard now has locations in Ohio, Oregon, and Utah, just to name a few states.

The Yard continues to expand its business, posting about four different openings on its blog in 2024. Compared to other ice cream-based Shark Tank proposals, like Brewer's Cow Ice Cream and The Drip Drop, The Yard has become an absolute behemoth with plans to open more locations in 2025. 

It has also been seeking out collaborations with other businesses such as GoNanas (one of the best-boxed dessert mixes that isn't cake), Dr. Pepper, and even The Care Bears. The Yard's many franchises also collaborate with other local businesses, offering specialty milkshakes made with the cookies, candies, and other sweet treats prepared by them. Combining their growing national recognizability with the power of major brands and the quality of small business offerings, it seems that the Greens have more than compensated for passing on Cuban's offer.

The Yard also continues to experiment with new sales opportunities, partnering with local food delivery businesses and even hosting a contest for middle schoolers to design their own shakes. The business once offered DIY milkshake kits on Goldbelly's website but seems to have since stopped. It does, however, offer to deliver jars of edible cookie dough, one of its most popular toppings and ingredients.