In this episode of Restaurant Startup, Joe and Tim were looking into two startups with a different take in the dessert industry. First, Kones by K introduced their business as America’s favorite ice cream cone, not only sweet, but savory as well. Some savory options included bacon and eggs, salmon, and chicken. The cones themselves were also infused with herbs and spices. Next, Knead Baked Goods planned to start a café and bakery with distinct flavored breads. As decision time came, Joe and Tim chose Kones by K, giving them 36 hours and $7500 to create a temporary version of their dream cone restaurant.
However, the first necessity was a total switch on branding. Both investors felt the name and the logo did not sell the product properly. Tim believed the blue color did not give the feel of any savory items being served, while Joe wanted the brand to be more powerful and unique, describing “what they are doing with the cone.”
After changing the brand and switching the name to “The Konery,” more problems arose during kitchen prep time. Kristine, the brains behind Kones by K, improvised in the kitchen, disregarding the use of measuring spoons or cups. This resulted in an angry Walynn, who did not believe Kristine was being efficient. Just as suspected, the restaurant ended up running out of food during its opening. Despite the problems, customers seemed to be enjoying the food and experience at “The Konery.”
When it came time to decide on investing, the discussion was far from sweet. Tim and Joe did not believe Kristine and her mother had enough food and beverage experience. Joe decided not to invest, while Tim offered $325,000 for 51% equity in the company. Tim believed that if he was going to invest in this startup, he wanted to be in charge of the business for the beginning at least. Unfortunately, Kristine turned down the offer. She didn’t “like the idea of being an employee for [her] own business.”
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