Whatever Happened To Jack's Stands After Shark Tank?
Sometimes, it's the youngest of "Shark Tank" entrepreneurs who catch the Sharks' eyes. 10-year-old Jack Bonneau appeared on the program to convince the Sharks to sink their teeth into a sweet and sour prospect — a lemonade stand franchise intended to help young investors create successful beverage outposts of their own.
When Jack wanted an expensive Lego set and wondered how he'd get the money for it, his dad, Steve, took the occasion as an opportunity to teach his son all about finance. Suggesting Jack open up a lemonade stand, they founded an outlet at his local farmer's market. In a few weeks, he made $2,000 in sales, evening out to a $900 net profit throughout the season. That one successful summer caused an idea to bloom in the minds of both Jack and his dad. The following summer, Jack took out a $5,000 loan from the Young Americans Bank in Denver and borrowed $1,000 from his parents to expand his business to three other local farmer's markets. He staffed the stand with fellow kids looking for summer pocket money. In the end, he paid back most of the bank loan and all the money his parents gave him; sales had increased to $25,000 and his locations to seven. However, further attempts at expanding the business were unsuccessful, with two failed IndieGoGo campaigns behind them.
Jack's appearance on "Shark Tank" caused one Shark to make lemonade out of lemons — and Jack to turn his lemonade into dollar signs. Though everything hasn't been smooth sailing for him as he's branched out, his entrepreneurial spirit has only grown in the ensuing years.
What happened to Jack's Stands on Shark Tank?
Appearing during Episode 8 of Season 8 all the way back in 2016, Jack and Steve Bonneau enter the Tank in the hope of attracting an investor who wants to help them further franchise Jack's Stands for other ambitious young entrepreneurs. Their services have expanded far beyond selling lemonade and other drinks to offering franchisees the opportunity to sell toys or clothing, among other items. 2016's total sales were projected to reach $150,000. They're looking for $50,000 for 10% equity.
Kevin O'Leary rejects Jack's pitch because he's concerned running the business will keep him from going to school, and he would need Jack to work on the business full-time. Mark Cuban also bows out, unsure if Jack is ready and able to expand the business beyond Denver. Barbara Corcoran and Lori Greiner say no as well, though Lori tries to advise Jack he should concentrate on growing the franchise slowly.
Only guest Shark Chris Sacca offers Jack a deal. He suggests a $50,000 loan with an interest rate of 2%. But there's a catch: Jack will receive the loan in increments of $10,000 apiece to make sure the business keeps growing. Jack and Steve agree to accept Sacca's deal.
Jack's Stands after Shark Tank
In the aftermath of their "Shark Tank" appearance, Jack and Steve Bonneau continued to help run the seven Jack's Stands they established together. Good news came in 2018 when Good Times restaurants began selling Jack's Stand lemonade in four flavors throughout Colorado. They also placed stands in their restaurants, allowing kids to sell the lemonade to thirsty customers for a small fee. But franchising his business out to fellow kids resulted in him running up against the law — specifically Colorado State Senate bill SB19-103, which bans all permits and licenses for businesses by kids under 18 that operate less than 84 days a year. Jack vociferously opposed the bill, but the law passed in 2019. This didn't seem to fully put a damper on Jack's Stands, which appears to continue to operate to this day, but the law may have made it difficult to license out the franchises to minors.
As he entered high school, Jack busied himself with charity work and continued to deliver motivational speeches, an activity he's participated in since he was 9 years old, culminating in a TED Talk when he was 12. Then, in 2019, he opened a second business: TeenHustl. It originally began as a sort of hyperlocal UberEats, but the COVID-19 pandemic changed that mission. Think of it as a paper delivery route for teens with shorter distances to traverse on their bikes. Teens working for TeenHstl are tasked with picking up and dropping off Amazon deliveries and returns, as well as other packages.
Is Jack's Stands still in business?
The Jack's Stands website continues to operate, though it hasn't updated since 2018 or offered franchisee opportunities since 2019. There seems to be a reason for this. In a 2021 Instagram post, Jack Bonneau announced the company has been turned into a nonprofit with the same mission. It continues to look for young entrepreneurs across the country who want to learn about business and run their own stands. It's teamed with nonprofits to accomplish this aim. Bonneau's goal is still the same — to make sure there are Jack's Stands and Markets all over the county.
The company's Instagram, Facebook, and Twitter are all active, but currently, more often than not, serve as a place where Bonneau updates his followers on his career moves. So let's call the existence of Jack's Stands a big question mark at the moment — presumably, it's waiting for a big relaunch as a nonprofit sometime in the near future.
What's next for Jack Bonneau?
Jack Bonneau is now 17 years old and a recent high school graduate. According to his Twitter profile, he started attending Dartmouth College during its fall semester in 2023.
He's still out there trying to make his businesses work. On Facebook, he shared he was planning on taking TeenHstl nationwide in 2022, but those notions have yet to come to fruition. TeenHstl continues to operate as well, and it seems to be absorbing most of Bonneau's time as of late.
In any event, the accolades have kept pouring in. In 2020, TeenHstl garnered the U.S. Chamber of Commerce's 2020 Young Entrepreneur Achievement Award. That year, it also won the Dream Big Young Entrepreneur Achievement Award from the U.S. Chamber of Commerce. In 2023, he was named a candidate for the U.S. Presidential Scholars Program. This culminated in a 2023 Prudential Emerging Visionary award for Bonneau, which netted him $5,000. It's clear he's got a bright future ahead of him, no matter what happens to TeenHstl and Jack's Stands. He's certainly one of the most successful and famous child entrepreneurs ever to come out of "Shark Tank." And all it took was having the courage to ask how he could earn some cash for a set of Legos.