I Bought An Ice Cream Shop - Now It Brings In $1.2 Million A Year

Рет қаралды 83,051

Ай бұрын

Shawn Allard, 27, quit his job as a dental consultant and decided to buy two Arizona ice cream shops called Novel Ice Cream. In 2023, the business brought in $1.2 million in sales.
Produced, Shot and Edited by: Mickey Todiwala
Managing Producer: Beatriz Bajuelos
Animator: Gene Kim, Elham Ataeiazar
Reporter: Ashton Jackson
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I Bought An Ice Cream Shop - Now It Brings In $1.2 Million A Year

Пікірлер: 206

@CNBCMakeIt 14 сағат бұрын

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@petertwining5729 Ай бұрын

Just love the negative comments, they are always easy to find and they only reflect on the person posting them. The guy hasn’t had the business for long, give him a chance he will make his way through it all. His a hard worker and dedicated to succeeding, kudos to him and for the initiative he has taken and to his support family. Thankyou CNBC make it for the video. 😊

@bryantkobe23 Ай бұрын

Statistically, odds are not in his favor

@kamoygordonviolinist 25 күн бұрын

I think we all love what he is doing and I applaud him for making this step, however it hurts that he paid so much for this business and had to take on so much risk for so little returns.

@sammyp9514 26 күн бұрын

Dang place has almost 2,000 reviews and 4.9 stars! That’s amazing

@XDrunkenPandaX 14 күн бұрын

you know you can rig the ratings with enough money right? just call google adsense. you can remove negative reviews as well and add positive reviews the same way artificially.

@black12212 21 сағат бұрын

@sammy it really is

@TheXavier20000 18 күн бұрын

I just bought a magnum ice cream bar at a quick trip gas station in Arizona for $4.75 He’s offering a better experience and a better product for less. Good man!

@chelseagirl278 Ай бұрын

a full 180 degrees, not 360. love your business!! you are an inspiration 🍦

@jairjosafath9693 Ай бұрын

its 360, since he is still contributing to the dental market 😂😂

@palimdragonmaster3k Ай бұрын

Jason Kidd moment

@Official-D.W. Ай бұрын

That’s why he didn’t get through dental school 😂

@actualwakandangirl7121 19 күн бұрын

He’s now every dentist’s best friend!

@jaybird426 28 күн бұрын

They make the catching headline sound like he's making 1.2 million profit. IN SALES. They don't mention profit.

@zeus3086 22 күн бұрын

Yes...im astounded by the expenses for running this place and profit margin of 2-4%? I mean really? Even a layman would tell you at those margins you won't survive long.

@MrWayneStephen 21 күн бұрын

it said he was taking home $40k. Not much considering the stress of running your own business

@chinablack 20 күн бұрын

@@zeus30862-4% cause reinvesting back into the business. Lucky there’s any profit right now. Even if you start a lawn service and want to expand, that’s gonna take your profits too

@ChrisChan829 19 күн бұрын

He didn’t even make 1.2 mil in sales. Hes projected to.

@adamclay6169 27 күн бұрын

Keep in mind this business has been operating for atleast 6 years, because of their ice cream donuts, the word of mouth travels, ive personally taken many friends there just for that reason. They are not in the best location for foot traffic with there flagship store, the Mesa location seems much better! I’ve been going to the phx location for years. Yes right now his profit margin is currently 2-4% but clearing as he said it’s because his reinvesting, I would imagine if he is able to expand to even more locations, Scottsdale, Sedona, flagstaff, Tucson and a mobile operations for farmers markets and festivals/first Fridays (which is HUGE in phx) etc….. I’d imagine in the next five years his profit margins will be ALOT higher. The store has been proven to work already, now he just needs to be passionate, focused and continue to expand

@ibizawavey8630 7 күн бұрын

you seem to know a lot about businesses? if i wanted to open up a power washing business, how would i find clients?

@porthospatel1683 Ай бұрын

Yall need to stop hating. This man got family support and built a business. Don't act like you never got help. Smh

@goobergelslady Ай бұрын

He is definitely working off his high-end. If you divide 1.2 mill. And let's say he is open for 16 hours a day 7 days a week. He has to sell 2 1/2 ice creams a minute.

@KYLETISZAI 29 күн бұрын

Y'all all need help......

@1110karin 17 күн бұрын

@@goobergelslady and that ain't happening

@BRMJ1 Ай бұрын

Very cool that your family was willing to help on the journey! And the honesty behind the initial sources of your funding.

@jairjosafath9693 Ай бұрын

Always nice to see these videos, keep em coming

@TonyOldFish Ай бұрын

Love his hustling! Please keep this type of content coming! 🔥

@af31ns Ай бұрын

Awesome, up front, honest and personal story!

@kamoygordonviolinist Ай бұрын

This was not a good investment. The margins are not good. There is no room for error. He definitely bought the business for too much money. Finance costs are also eating away his margins. He might have to increase price to increase gross margins, focus on increasing sales while keeping expenses as stable as possible. Managing cashflow will be vital. His cashflow statement should be his best friend. Good luck!

@xKingUVHearts Ай бұрын

Yes, in this economy $5 for an icecream is nostalgic but in order to run a profitable business that can provide a good exit I’d day 60-80% profit should be the target. Expenses will eat at that but there’s other ways to increase cash flow like selling a digital product, catering for hospitals with larger budgets or coming up with a profitable retail product.

@slideways2004 29 күн бұрын

He WAYYYY overpaid. To invest that kind of money and have all that risk and only make about $40,000 a year is not worth it.

@joelriley4850 29 күн бұрын

This is correct. I have an ice cream business and get 65% gross margin, which is considered fairly low. He is making 35%, no idea why thats the case. Also, all that ferrying stock from here to there. He paid over 20x net profit for this business, the seller must have been very happy with themselves! (unless freeholds included)

@slideways2004 29 күн бұрын

@@joelriley4850 What is freeholds?

@abdullaalmannaei8641 25 күн бұрын

The net margin 2-4% after financing growth & paying debt, so this margin expected to shoot up.

@EcomCarl Ай бұрын

shawn story is a powerful reminder of the importance of family support and smart financial planning in navigating the complexities of small business ownership. It's inspiring to see such dedication and forward-thinking in action! 🍦

@theonemox 22 күн бұрын

He’s making 40k a year and probably stressed and working all the time to keep things afloat. Thats the problem with so many small biz stories- they put a headline like “pulls in 1.5 mil a year” … oh ya? Whats his take home pay? Often times you have a business but at the end of the day he’d make more working a corporate job. I love entrepreneurship but these videos sugar coat it. Most small business owners struggle and grind just to get by.

@swilliams9511 Ай бұрын

His dad is in fantastic shape 😊

@alejandragarciarmz9813 28 күн бұрын

People really think you invest in a business and the next day you’re a millionaire lol it takes time when you’re building a business, being a entrepreneur isn’t just about money but putting in the hard work and making sacrifices and being happy about building something. Nothing in this life is easy and anything that is worth it takes time to build.

@michaeltheboatinglife9359 Ай бұрын

It was a good shot considering his age. But those margins are really low. Speaking from experience where I built a $7 million per year business you gotta be closer to at least 10% profit to survive and make any money personally. I’m now retired in my 50s so it can be done With some hard work early on and mixing in a little luck as well

@Ja-3108 Ай бұрын

how much did you sell the $7 million per year business for?

@michaeltheboatinglife9359 Ай бұрын

@@Ja-3108 almost 8 mil

@mikebrown-ic3ge Ай бұрын

Margins are lower in the food business. He is lower than the norm, 12% +/- 2%. What must be sustained and built on is what the original owner established, a cult following based on the outstanding product quality. I was one of his first customers. If he starts cutting corners on quality, there goes the business.

@tylertylertyler555 Ай бұрын

Do you mind sharing what your business was in general, or at least the industry? Any other tips? I'm 28, been saving hardcore for the last 3 years to start or buy a business soon to replace my job and overwhelmed by all the possible routes. No one else in my family has ever gone the entrepreneurial route so I'm scraping around for guidance.

@michaeltheboatinglife9359 Ай бұрын

@@tylertylertyler555 there are several business consultants, some even on KZfaq, that show you some of the most successful businesses now and for the future. Most of them tend to be service businesses. Some people want to talk about Amazon and all this other stuff but to be frank only about 3 to 5% of people make money on Amazon so it’s not a good choice. So service businesses such as Landscape, Pool service property management and things like that are the way to go. Yes very competitive but if you get up and you show up you will make it. I also recommend the trades because those are a dying breed such as air conditioning, plumbing, etc.

@dancingqueenvh 28 күн бұрын

Really appreciate his transparency!

@lorrainea.285 Ай бұрын

27???? HOW???👀 He looks close to 40🤯

@Ovprksdnw Ай бұрын

Why don't YOU show us your face, and we'll see how old YOU look, hater

@palimdragonmaster3k Ай бұрын

White people don't age well

@Dream_more_age_less Ай бұрын

He probably works 12 hour days, 6 days a week

@charliexx2680 29 күн бұрын

Arizona sun lol

@PrinceOfOpinion Ай бұрын

He’s only 27? Can you please post some older people so that I don’t feel so behind in life? 😢

@anoukc6928 Ай бұрын

Life isn’t a competition, buddy 😉

@psyko0906 Ай бұрын

Why does age matter?

@followGreatness Ай бұрын

Wow...stop it. There is a blessing in the neighborhood. I tap into this blessing. My business would be the next million dollar sensation.

@PrinceOfOpinion Ай бұрын

@@anoukc6928 This is all a competition.

@rickyayy Ай бұрын

No the younger the better

@JB-ej2qy Ай бұрын

When I first started building. My parents where my bank in the 80’s. I would build a spec home and pay them 10% of 20% margins. Basically split profit. They invested into me. I wanted them to profit.

@mkhanman12345 Ай бұрын

You should want them to profit

@hppavilionf50 Ай бұрын

What's the utility bill for an ice cream shop in Phoenix? I'm genuinely curious 🤨.

@OHANA-Beach-Suites-CDO Ай бұрын

Great job! Love ice cream! Love entrepreneurship! Very inspiring!!!

@fayeturtzo2476 Ай бұрын

His dad is hot. Can your mom fight? Asking for a friend 😂😂 Congratulations. Ignore the negative gremlins.

@MPPG663 23 күн бұрын

Geez! 😂😂

@Outcome_Agent Ай бұрын

Ice cream makes perfect sense in a state that is so painfully hot

@TheTechCguy 17 күн бұрын

There’s competition in that, too.

@bryantkobe23 Ай бұрын

so 4% margin, at 1.2MM = $48K/year, he better stick to dentistry, unless he can improve that margin

@SuperDoctorprofessor Ай бұрын

Said due to reinvesting to capitalize growth.

@bryantkobe23 Ай бұрын

@SuperDoctorprofessor exactly how to capitalize when you run a 2 shop operation lol.....the business is not scalable. let's face it, 90% of small biz fail within their first two years, and with a margin of 4%, he needs to get margin to 20-25% to have a chance of survival. If you ask me, quitting dental school is stupid, at least finish school get that degree

@JVanProduction 23 күн бұрын

His salary is $40,000 a year not $48,000. I wonder his cost of operations because it seems that his business is leaking money. His salary is approximately 3.25%. Still feel like his company is overspending somewhere and leaking profits. I wonder how many shops he opened.

@ByeMay52024 Ай бұрын

small business arent a joke!from a fellow business owner who worked solo!

@RiosCosma 28 күн бұрын

If you are not in the financial market space right now, you are making a big mistake.I realize that it could be due to inexperience, but if you want to make your finances work for you, prevent inflation from eroding your savings, build generational wealth, and cultivate good habits and financial knowledge, you must be in the market.

@MarzenaDuda-lq4tq 28 күн бұрын

The wisest thought that is in everyone's minds today is to invest in different income flows that do not depend on the government, especially with the current economic crisis around the world. This is still a good time to invest in gold, silver and digital currencies (BTC, ETH... Stock)

@JanainaDias-lw6rj 28 күн бұрын

I have always wanted to trade crypto since 2019 but was scared due to its volatility, I think now I want to give it a try but don't know how to go about it.

@harrydixon2120 28 күн бұрын

Same here all thanks to Mrs Jeffrey Kathryn, she has always been there to guide me through with detailed analysis and recommendations that I wouldn't have access to otherwise.

@ElizabethVasquez-vp2fk 28 күн бұрын

How please I'm pretty new and feel I have much to learn, I would appreciate if you show me how to go about it?

@Mzefirov 28 күн бұрын

After I raised up to 325k trading with expert Kathryn I bought a new House and a car here in the states also paid for my son's surgery (Oscar). Glory to God shalom.

@emmanuelapac3315 Ай бұрын

Well done, and thanks for sharing your business insights.

@MattsGamblingSlots Ай бұрын

This channel has two extremes: Young 20 to 30 somethings who become super successful early on and have 7 figure net worth AND 30 and early 40 somethings struggling. There's not a person who said they're multi millionaires and financially independent at 58 after being broke at 45.

@jjpark1989 Ай бұрын

Biggest goal should be labor costs. If he wants to make money, he's the one that's going to have to sacrifice and work 70 - 80 hours a week. Labor costs could be the biggest expense and if he could do multiple roles himself, he should. I started a deli when I was 25 without much knowledge on how to run a business. But being 35 now, I know a lot. He's trying to expand too quickly and it's not a good idea in my opinion. He's being overly ambitious and that could be his downfall. Good luck to him though.

@marryellenmonahan5585 Күн бұрын

Your prices are amazing.

@SherwinDSouza-fm3tw 29 күн бұрын

What was it making before you bought it

@billytan888 Ай бұрын

Food and beverage is a tough business. So much work with very little margins

@XDrunkenPandaX 14 күн бұрын

how did he not have his own $110,000 at 27 being a dental consultant

@udarpavarota396 14 күн бұрын

Especially in the food industry. With all the customers that say 'Oh, I didn't like this, can I get a refund?'

@marcl7307 Ай бұрын

Glad to hear an owner who knows his numbers.

@1110karin Ай бұрын

I wish him luck but he shouldn't have quit his day job and used the 110k to go to dental school.

@Mr1wd Ай бұрын

Can you title the profit in terms of net revenue instead of gross? It's kinda clickbait

@CaptainPlanet007 Ай бұрын

Can’t expect much from NBC

@iq-ride9329 Ай бұрын

Hang in there!

@knahknoh Ай бұрын

Give it time …he can make it. Congrats and keep going and cutting cost

@financebae 9 күн бұрын

Wow ! Very impressive ❤

@sisig2414 Ай бұрын

2-4% operating profit margin seems very low.

@anoukc6928 Ай бұрын

It’s common in the food & beverage industry.

@andresm1704 Ай бұрын

he has to be holding some stuff back, cause my pizza place makes 25% margins and its self running

@innerDialectic Ай бұрын

He said it's around 35% but the rest gets reinvested

@adamo1139 Ай бұрын

@@innerDialectic 35% is gross margin, some operating costs for paying 20 people monthly might not be included there.

@chiaraocamporoberto2045 Ай бұрын

@@anoukc6928 It's not.

@MikeT-ey8bl 23 күн бұрын

Step 1. get 110k loan from family. Step 2. own a brand new tesla Step 3don't need to take any kind of wage for at least a year and still live comfortably. They should rename this channel to CNBC Already There through generational wealth

@_BoomShakalaka_ 28 күн бұрын

Old man is a unit 💪

@chuckscott-cy7iq 24 күн бұрын

From treating cavities to creating them : )

@realSimoneCherie 25 күн бұрын

I'm just craving ice cream now

@513digital 25 күн бұрын

110k family loan. Dang I would have loved that to be able to start my real estate company.

@Tincho25 Ай бұрын

finally good videos again

@ki6eki 18 күн бұрын

only $40k net income? i thought ice cream had better margins..

@estheresther8934 25 күн бұрын

I learned recently that dentists have high rates of depression and tendency to self harm. That may not have been the best career pathway for him.

@TheTechCguy 17 күн бұрын

Competition, market saturation, and monopolies are this person’s main enemies here when it comes to making it with this business. In addition to inflation and other types of costs. I took business courses, so I have an idea as to what he’s going through.

@kikitaughtme 20 күн бұрын

Was thinking he took a full 360 in career and he mentioned it himself

@KeeptheChange41 Ай бұрын

Main ways to build wealth, stocks, real estate, start a business, good for him.

@MakeMoneyWithAI_83 Ай бұрын

Insightful and appreciative comment: 'Congratulations on the success of Novel Ice Cream! It's inspiring to see how your hard work and dedication have paid off, turning your dream into a thriving business. Wishing you continued growth and success in the future!'

@letsplayblis1115 Ай бұрын

@zdrux First commented this. 4% margin is so low. 40k in Arizona is not much money. Hope he makes more in the long run.

@StrokaReviews 28 күн бұрын

He could've started his own company with under 200k. I hope it works out for him.

@gymdoc7549 Ай бұрын

So after all expenses, what is the net profit?

@MoneyMan28 Ай бұрын

$10,000

@bryantkobe23 Ай бұрын

exactly how to capitalize when you run a 2 shop operation lol.....this is not silicon valley where it's easy to scale, let's face it, 90% of small biz fail within their first two years, and with a margin of 4%, he needs to get margin to 20-25% to have a chance of survival. If you ask me, quitting dental school is stupid, at least finish school get that degree

@jjpark1989 Ай бұрын

I agree. He got overly ambitious and that might come back to haunt him. Especially since he's trying to expand so quickly. He's going to have to cut a lot of labor costs and do things himself, even if it takes 14 hours a day, everyday. I don't know his work ethic, but if he thinks that being a restaurant owner means that you could cruise through life with just money coming in, he's heavily mistaken.

@kevnev342 29 күн бұрын

Numbers are not great, but hopefully he can become extremely efficient and get some bigger outside investment to keep growing it. It hasn't even been a year since his takeover, so stop hating. Hopefuly the cnbc publicity will help.

@DUSTYINTHEWILD 27 күн бұрын

Afters Ice cream or nah?

@CaptainPlanet007 Ай бұрын

The guy seem very stressful like wtf I got myself into?! 😬

@eeeeew12 Ай бұрын

So he copied the concept of Afters Ice cream? 😂

@thebakingkarrott Ай бұрын

Is afters ice cream a socal exclusive ice cream shop?

@porthospatel1683 Ай бұрын

Copying is a form of art. Nothing new

@dannyantivilo3277 25 күн бұрын

So his dad bought him a 40k a year business for 1 million dollars nice

@mohamethseck Ай бұрын

Dude looks 40 😅

@moygoodness Ай бұрын

One of my favorite videos. Very inspirational!

@Dbz_king222 Ай бұрын

After expenses he will be left with 20k

@syburd 24 күн бұрын

He’s growing wayyyy tooo fast. He needs to slow down and focus on his product. The product will then sell itself without multiple locations and buying $30k trucks when he’s only making $40k. The growth YTY is wayyy too small for this much capital investment. I just hope his family gets their money back in the end. Otherwise, I guess it’s just an advance on his inheritance.

@LeNguyen-bb8hc Ай бұрын

So delicious. I like Ice Cream

@MrTmenzo Ай бұрын

Small azz portions brings profit

@knifeknights7693 25 күн бұрын

As soon as he is driving Tesla.. I’m out🤦‍♀️🤷‍♀️ Dude didn’t “make it”😅

@zdrux Ай бұрын

If he's making 4% margin on $1.3M, that's $52k in gross income.. is my math correct?

@letsplayblis1115 Ай бұрын

1,200,000×0.04 i got 48k.

@knahknoh Ай бұрын

He could make more but he’s investing in the 3rd spot

@adamo1139 Ай бұрын

He still has 110k to pay back to family and 990k to pay back to gov. Not sure how those SBA loans work, but it has to be paid back somewhere. He would be better off starting a franchise ice cream shop in $40k mobile ice cream truck.

@courtneyswart8216 26 күн бұрын

Got 100k from my parents... must be nice to come from rich huh

@asnboy1084 Ай бұрын

poor guy only making 40k a year after spending 1.1 million…

@dopemusic6414 Ай бұрын

Absolutely amazing how some people literally have no listening skills. He reinvest back into the business.

@kevnev342 29 күн бұрын

he chooses to pay himself 40k and reinvest back into operation

@JAD3N 26 күн бұрын

This guy looks 39.

@michaelvan6675 Ай бұрын

Sorry this was a horrible investment.

@Rashaadthegr8 Ай бұрын

Do the dentist and ice cream ca ching.

@user-nc6ek9rf8x 14 күн бұрын

makes no money and drives a tesla...something doesnt add up lol

@harjotsinghhs5 20 күн бұрын

He’s definitely bullshitting his net profit for the camera. Uncle sam is always watching and he’s smart for this lol

@jackhandy4406 17 күн бұрын

Traitor !! Former dental student becomes cavity pusher!!😂

@2PACBRB2014 Ай бұрын

This is an absolute lie. You don't make 1.2 million dollars from 2 ice cream shops

@Dean0to25Million Ай бұрын

It does seem pretty high to me too, but not unbelievable. That's roughly 15 customers per operating hour per location on average.

@Lovingdogsclub Ай бұрын

😂😂😂😂😂😂😂😂😂😂

@Ovprksdnw Ай бұрын

Did you try and fail?

@emdr-willdavlin Ай бұрын

Wearing loose socks to bed = drug addiction/depression cure

@Manny-ok7fv Ай бұрын

If white privilege, daddy’s money, and i almost joined the military was a person

@barlaggg Ай бұрын

he worked hard stop hating on him

@andresm1704 Ай бұрын

just say you are lazy lmao

@miscellaneous714 Ай бұрын

I am sure that your are one of those who are pro-Palestine, supporting Hamas, state your pronouns in meeting new people, and still dependent on your parents or government (taxpayers)

@billytan888 Ай бұрын

Putting other down to make yourself feel better is not the way to go