Crumbl's Rapid Expansion
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Sam Parr shares the success story of Crumbl Cookies, which has grown from a small startup to a billion-dollar franchise.
"When you originally told me about it, I thought it was just two brothers or cousins launching this thing. But it's actually a massive business now - some sources say it's close to $800 million a year in revenue.
They have an app that was the 4th most downloaded app in the week. The app has 2.3 million ratings with a 4.9 average. They're opening brick and mortar stores every 5 days and have around 730 stores at the moment. It's one of the fastest growing chains in America.
Their social media presence is huge - 800,000 followers on Twitter, 3.4M on Instagram, 6.5M on TikTok, 1.2M on YouTube. They create commercials every week for a new cookie drop. Every Sunday at 6PM they do a new drop and their app just spikes and goes way up the charts.
The franchise numbers are impressive too. In 2021, the highest revenue store did about $3.6 million, with the average around $1.6 million. The store with the highest net profit was $600,000, lowest being $33,000, with average profit around $350,000. According to the founder's Twitter, they did over a billion dollars in revenue. You can open up a franchise with $150,000, and they send you traffic via their Instagram and app."
Sam Parr
Host of MFM and fitness influencer
Sam Parr is a serial entrepreneur and business media pioneer.
In 2016, he founded The Hustle, a business news media company that started in his kitchen with just $12 and grew to eight figures in revenue.
Sam led the charge in making newsletters popular when few believed in their potential.
After four successful years, he sold The Hustle to HubSpot, a publicly traded company. Now operating as HubSpot Media, The Hustle reaches 3 million readers daily, employs a team of nearly 100, and has been the launchpad for dozens of its staff to found their own media companies and newsletters.
Sam remains the host of the popular business podcast, My First Million, and continues to start and sell companies. He also co-founded Hampton, a highly vetted community for entrepreneurs, founders, and CEOs, and teaches people to write better through his platform, Copy That.