Kidpreneur Jack Bonneau of Jack’s Stands & Marketplaces tangled with the sharks in Season 8, seeking a $50,000 investment for 10% equity for his company. By the end of his pitch, he’d walk away with a deal with guest shark Chris Sacca for $50,000 as a loan at a 2% interest rate contingent that he would share his business lessons through videos and podcasts. As one of the youngest entrepreneurs to secure a deal in Shark Tank, we know you’d love to find out what Jack’s been up to with a Jack’s Stands & Marketplaces update.
Shark Tank Jack’s Stands & Marketplaces
- Entrepreneur: Jack Bonneau
- Business: Package delivery business for young entrepreneurs
- Ask: $125,000 for 5% equity
- Result: $50,000 as a loan for 2% interest rate
- Shark: Chris Sacca
Putting up a lemonade stand is a rite of passage for entrepreneurial kids. What Jack did was take that idea further. Instead of just putting up his own lemonade stand, his business, Jack’s Stands & Marketplaces, offers young entrepreneurs a chance to operate their own drink stands without having to worry about figuring out all the logistics. Further, it also has an educational value that teaches kids about growing a healthy business.
When he entered the Shark Tank, Jack already had seven locations in Colorado and had made $15,000 in revenue from two stands located in malls.
The sharks were obviously impressed by Jack’s enthusiasm despite his young age, and even Kevin O’Leary liked the idea. Unfortunately, he was worried that he might not have time to handle the business with school going on, so he went out. Mark Cuban expressed the same thoughts but wondered if the business was scalable, so he backed down as well.
Barbara Corcoran had a different idea on where the business should go and politely bowed out. Lori Greiner also went out after praising the kidpreneur for his amazing eloquence. This left Chris Sacca as the only shark left standing, and he offered $50,000 as a loan at 2% interest.
Jack accepted the deal and many years later, we’ve got a Jack’s Stands & Marketplaces update.
At the moment, there’s no information available if Jack’s Stands & Marketplaces is still running. However, because the official website is still up, we have reason to believe that it is still alive in some sense. More importantly, Jack hasn’t stopped finding ways to put up businesses. His latest venture, Teen Hustl, puts young teenagers to work riding bikes and electric scooters to deliver food from restaurants as well as packages from FedEx, Amazon, and UPS.
According to Jack, the goal is to “bring our nation’s teens into the gig economy and solve problems in last-mile delivery that neighborhood teens are uniquely qualified to solve.”
So while our Jack’s Stands & Marketplaces update isn’t specifically about Jack’s first business, it’s nice to know that Jack is a budding serial entrepreneur. He’s even been invited to hold a TED talk!
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