We Spent $250K To Open A NYC Bakery-Now It Brings In $50 Million A Year
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- Опубликовано: 1 окт 2024
- Elisa Marshall and Benjamin Sormonte invested all of their life savings, plus more money from family and friends, to open a cafe called Maman in New York in 2014. Last year, Maman's 34 locations brought in nearly $50 million. "It was one of the biggest financial risks we could ever take," says Marshall.
Produced by: Raffi Paul
Senior Managing Producer: Eric M. Clark
Reporter: Tom Huddleston, Jr.
Editor: Amy Marino
Animator: Elham Ataeiazar
Additional Camera: Lauren Shamo
Additional Images: Maman, Getty Images
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We Spent $250K To Open A NYC Bakery-Now It Brings In $50 Million A Year
33 locations - now the $50M makes sense.
That's where I stopped watching. The title gives the impression that they spent 250k on a shop and now it profits 50m. Really misleading.
@@pouroverfinance50 million in sales is still a lot.
Aye! Should say BAKERIES NOT BAKERY!
Yeah duh, but that's still a ton. That's more than wingstop or mcdonalds franchises make a year.
@@starvingbymidnight Are you that dumb that you think a single bakery can make $50 MM a year? They're not selling yachts and private jets.
Guys, all it takes is hard work, 250k (doable) and then lots more money from extremely wealthy friends/family and then private equity. Anyone can do it!
Private equity, rich family, and a touch of treachery is the key. 🔑
his brother invested 1.5 million in equity. they are Rich-rich!
Easy-peezy.
@@elleyu9837 😏
And good looks.
So, basically, they were rich, had rich friends and family, and now they're even richer. Got it. You need money to make money.
So stop crying and start making money
It also helps if you're very attractive lol
Their food is expensive.
Yeah, god created money, gave it to 1000 random people and that’s how every single business has been created ever since…
no you dont you start small and scale up you have to make sacrifices
Is it a great story? yes. But, let's be honest, they had tons of help. How many people can find a relative to invest 1.5 m in their adventures.
that 1.5 mill was after their first year and proved that they profit from the business listen again to the video bruh. The brother of the guy wouldn't invest that money if they weren't successful and have a promising future if that first year was a flop the couple. Good that they succeeded. And yes they got help but not a lot when they were beginning their business in terms of money pre 1 year.
@@viciouslyeatingaburger they made profit but no investor would invest after just one year or invest 1.5 million which is unfeasible for 99.9% of the poorer population. Just look at shark tank where 80% of the deals of ALREADY PREPARED PRESENTATIONS and companies don't get any sort of funding.
@@AlwaysThirstys I get you, if the guy talking Bulls**** to the interviewer.
2 things I picked up from their story, the husband said he grew up in the south of France, and anyone who knows France, knows that most rich affluence families in France live in the south of France, the second part that reveals he's rich is his brother investing one million in his business! That screams rich family to me, they are trying to act like they came from humble beginnings, but the husband vibes alone screams rich man! Apart from that though their bakery looks amazing, despite all that, their story is amazing.
They didn’t say or come off that way. 😮
Yes. Definitely picked up on the ‘family helped’ so that they could stay in nyc, and then a cash infusion of 1mil from the brother. Just examples of how it’s not often just hard work. It’s hard work and breaks/luck/access to resources.
Why is it so important for you guys to focus on how people are successful? If someone marginalized you in any kind of way you would hit the roof. There is nothing wrong with having help, and rich people can be humble as well. Everyone has their own experiences in life.
The 250k figure seems dubious, unless the place was only 1000 square feet.
haha you dont know France at all then
*DONALD NATHAN SCOTT.*
Who’s that?
So did he graduate law school and pass the bar? Also, why did his friends pick them to run an overseas restaurant with no experience?
Thank YOU 😂👏🏽🤣👏🏽🤣👏🏽🤣
His friends picked him because they are friends and they trust and know him. I have given $2000 to my friend’s charity because I love her like a sister and I’ve given $40k to my mum to invest in her property business. Emotional intelligence and connections is something people underestimate in business. If you aren’t likeable, it is unlikely people will want to give you money.
@@pineapplesandvibes3277 Giving $2000 to a friend's charity is completely different then giving the reigns to an overseas restaurant to friends who don't speak the language or have experience.
It’s not what you know…
Did you? I did and I have no idea how to start a cafe, let alone run one that generates $50m/year in revenue.
Its so easy , everyone just makes excuses why they can not do it. Anyone can. Just takes small loan of $10 million from family and friends
😂
It’s aesthetic and pastries are alright but I had the worst latte of my life at Maman.
Benjamin grew up in the south of France - yeah, this guy was rich
“His brother invested 1.5M” yeah. Definitely rich family.
Not everyone is rich in the South of France. Walk around Marseille and you can see some of the poorest and most dangerous slums in Europe.
and you are dumb, you think there is no average or poor people in the south of France ? check Marseilles, Toulon etc.......
@@kayflip2233 his brother invested $1.5m lol
@@kayflip2233 majority are rich
Overrated, had the worst lattes and sandwiches. Sandwich bread was so hard we had to send it back. Baked goods were pretty good. Good aesthetics.
Agreed.
Targeted demographic - upper middle class white. Choosing NYC is very wise and crucial for cafes with such concept.
Obviously I doubt this would work in South Side Jamaica Queens where Tony Tayo lives.
Why Whites only? All types of people go here. There's no shortage of rich Asian American yuppies that want pastries and expensive coffee in NYC. Asians are the highest paid ethnic group per capita by far in the US.
@@kayflip2233family wealth at upper class white is higher
@@kayflip2233 They sell so-called childhood memories associated with mom's cooking. Milk, cheese, diary products in general are not popular in Asian food culture, which is kinda similiar to jewish food cultre on this front. The concept mainly resonates with upper middle class white households. Poor white ppl don't get to eat home-cooked nice pastries that often either.
Calling Asian American yuppies? Guess jelous really eat you huh. 杠精白男毫无吸引力
@@kayflip2233 These cafes market their products as evoking childhood memories associated with mom's cooking. Milk, cheese, and dairy products in general are not widely popular in Asian food culture, which is somewhat similari to Jewish food culture in this regard.
I LOVE MAMAN!!! I discovered their montreal location back in the beginning of covid when everything closed, they were still offering delivery and when I tell you I was SO HAPPY they did because I fell in love with their food and their pastries (the cookies are INSANE!!!)
So happy to see this episode, go maman team!!!
Without a doubt, this year will be worse than the last. I lost a lot of money last year as a result of bad investment choices that I would not have made if I hadn't been so worried about my portfolio. I kept investing, but I couldn't determine whether to start paying for a house. In the end, I sold my positions, and the house needed more work than I had planned. I'm not sure how long I can keep going like this
We've all made mistakes at some point. You should consider financial planning
True. My portfolio was diversified across several markets with the help of a financial planner, and were able to achieve over a million in net profit among high dividend yield equities, ETFs, and bonds. It is vital that you have a variety of exposure, including in firms that are currently generating cash flows.
Do you mind sharing your financial planner ?
Leah Foster Alderman
You are most likely to find more info when you look her up.
CNBC, are you guys kidding?
Luckily, my spouse and I were able to pay off our mortgage early. We took the money we were spending to accelerate our mortgage repayment and invested it right away while we were both still working. We were able to retire early after accumulating what would have been our home payment for over 7 years and maxing out our 401K/403B plans. Thankfully, both of our parents taught in us the importance of living within our means.
Investing without proper guidance can lead to mistakes and losses. I know this since I've been there myself.Seeking guidance from a professional is preferable if you're new to investing or don't have much time.
Investors can have different investing results even with the best strategy and suitable assets. Understanding how experience plays a critical part in successful investing is key. Since I was aware of this, I consulted a market analyst for advice, which helped me build my account to about a million dollars. Having strategically cashed out just prior to the market correction, I'm now taking advantage of buying opportunities once more.
How can one find a verifiable financial planner?
Leah Foster Alderman is the licensed expert I use. Just look up the name online.
She seems to be literate and well educated. Thank you for sharing.
they remind me of the wework people
I'm from Germany and I would never pay $17 for a sandwich or $5 for a cup of coffee! I live very frugally because I prefer to put my money into crypto and with the total $22 for these two things I could cook fresh meals for a whole week! 😂
Your Not from USA. Your dirt poor from a former Nazi country run by old stooges
Maman pronounced « Ma-Man » which means mom 😊
I remember walking into their first store in NoLita (not SoHo) on Centre Street. Hardly anyone was there, quiet- I could work in peace. I had coffee and a cookie which was the “cheapest” things I could order. It was so good I wrote a review on Yelp, although I didn’t think it was the best cookie in NYC,😊. Don’t remember this couple, though. I do remember thinking their interior space was more Brooklyn Boho chic than the city & it was SoHo $$$ for being on Centre. The interior design definitely existed in the Bushwick/ Bed Stuy / Williamsburg type neighborhoods, though. Centre is so quiet and lacked foot traffic, I didn’t think this large space would last selling coffee and pastries. Guess I was wrong. 😆
Thank you for your out look. I can see it from a outsider perspective
Tuna sandwich for $17????!!! WTF
Everyone saying they did all this cause their rich or know rich people, and let me say it’s definitely easier said than done.
Doesn’t seem very successful. You aren’t even averaging $2m per location- what’s the EBITDA? 50% going to PE. Also- a lifestyle brand? Are you kidding me? This woman is out of her mind. They have way too much going on. I’m confused on the brand positioning. And no laptops allowed?! lol. Weird.
Agree, the "lifestyle brand" when we are talking about poorly made pastries and some food… like what 😂
I absolutely love this place. Anytime that I go into the office I never not stop here first for a pastry or a coffee or both. Congrats to this couple for building something so good and so special. Their is amazing.
Fascinating how their bodylanguage and absence of chemistry is at the totally opposite of the business successstory being told...?!
I’ve never been to Maman, after hearing the story I want to go.
They have the best cookies - nice and thin and chewy, with crunchy edges and good quality chocolate. However, they are baked inconsistently at least in my local location on the Upper East Side. Sometimes they taste freshly baked to perfection, sometimes they taste like day olds, sometimes they are overly sweet etc. But when they are made fresh and properly, they are really good. Much better than Levain, which is sickly sweet.
So you’re telling me all I need is private equity, and to be from a rich family and I too could own a successful cafe?! Make it your a joke 😂
Writing "We spent $250k on a bakery; now it brings in $50M" to then go on and say it's from 34 locations is the biggest clickbait (and switch) I've yet seen.
Not really educational or insightful about business here, just two people promoting their business. I wonder if they paid for this advertisement?
For some reason, I read the comments first...so much negativity that I almost did not watch...but I was curious. Honestly, I don't what all the fuss against them is all about. They seem to be 2 nice people who had a good idea and money to begin. It was successful and so were able to expand and make a lot of money. The pastries and food looked really delicious and I loved the authentic south of France atmosphere. I did think their prices were bit high especially for those cookies and for the sides, but NYC is pricey and unfortunately, many New Yorkers enjoy bragging rights to go to expensive places. (I know this because am a native New Yorker/Manhattanite who retired to the coastal life on Cape Cod.)
Agreed 100% ☺️ ❤❤❤ 👍.
i love people being successful!
Do not know how you opened a cafe in NYC for only 250k with the regulations, high rent and then equipping it.
It’s possible, especially 250k back then not the current 250, they said they did a lot themselves and their equipment is never the last higher end models, but rather either older or used…
And the furniture is tasteful but not designer.
I noticed MAMAN because of its beautiful blueprint design that really makes them stand out.
I love Maman! The chocolate chip cookies are delectable. I love that they even sell the raw cookie dough so you can make them at home.🙌🏽
So tired of stories leading with revenues. Tell me about the PROFITS. With 34 stores, lots of employees, real estate and other overhead, it’s clear they aren’t taking home $50 million a year.
i love it! as they should and how blessed they are, GOD blessed them with the help they need and still need.
Love this! Wonderful couple, great business idea
I like the laptop free enviroment sign at 3:36,,,,
I think more cafes should do the same.
Nice story
Having access to capital and and a vast network of mentors and resources allowed them to scale much, much faster than it would be possible for most small business owners. Breaking $1 million in revenue is a big step for most small business because it requires knowledge, skills and resources most don’t possess. Opening another location is usually a risky step for a business unless you have the resources to make it happen. As much as I love success stories I hate being fed half-truths.
It was clickbait
This is amazing!! Kudos to the couple. Not to forget the cnbc team who is bringing such amazing Stories to us!
"and so we just happened to run a restaurant on Ibiza" -- do better CNBC
I love Maman and continue to frequent it when I'm near one. But it's rich people who got richer. Not a rags to riches story
You need to clearly separate self made businesses owners from humble beginnings and those who already had a leg up because they come from rich families.
So is it not Self made if you get a loan from your family or friends?
@@neneyeezy9938 it’s a different type/grade of self made. There needs to be a distinction, because otherwise you’re feeding into capitalist illusion that anybody can make it regardless of circumstances. Which is only a fraction of the truth.
This a corporation back funded by wealthy investors. Def not your mom and pops shop.
Power couple.Amazing things happen when u suppport each other n not compete with each other
❤
We need to know the net profit ! What they sell is the number one cause of being Overweight and diabetic : Refined carbohydrates and Sugars. One croissant or sandwich can have up to 700 Calories 😮it is written on their menu . I wonder why they are so fit 🤔 i like the design and the look of the shop. They also look so good.
French people aren't fat Because they eat in a rush and eat less portions than other western countries
helps with marketing
Investment of 250K$= MBA cost from Harvard or Stanford graduate school of business.
We’re getting one near me! I’m actually looking forward to this opening
They got the backing from a “restaurant group” 👀 that’s all I needed to hear, everything else doesn’t matter. If you know what a restaurant group is and does, you’ll know what I mean. This is not a rags to riches story.
Real success hard work n dedication
they have the BEST chocolate croissants!! I go all the time in Chelsea NYC
I realized that the secret to making a million is saving for a better investment. I always tell myself you don't need that new Maserati or that vacation just yet. That mindset helped me make more money investing. For example last year I invested 80k in stocks and made about $246k,but guess what? I put it all back and traded again and now I am rounding up close to a million
Thanks for continuing updates I'd rather trade the stock market as it's more profitable. I make an average of $42,500 per week even though I barely trade myself.
I'm favoured financially, Thank you Jesus $36,000 weekly profit regardless of how bad it gets on the economy.
How
..? Am a newbie in crypto investment, please can you guide me through on how you made profit?
YES!!! That's exactly her name (Deborah Davis) so many people have recommended highly about her and am just starting with her 😊 from Northern Ireland🇬🇧
I'm surprised that this name is being mentioned here, I stumbled upon one of her clients testimony on CNBC news last week.
So we just use private equity to secure cheap leases from second generation restaurant owners who were not fortunate enough to go that route during hard times and pat ourselves on the back. I hope they fail miserably
I find myself very curious what their prices for goods are.... 🤔
It's in the video.
Success story for suckers who believe in BS
$45 for a box of 8 chocolate chip cookies? 😪😪
The French accent gives them en edge. I'd buy a baguette from him.
Handsome couple
expensive
Very nice
So smart and inspired. And Canadian! 🇨🇦✨💖
Hard work , consistency & believed in them selves!!would like to taste their cookie!
There's old romance charm style in the cafe, theyre in 😂
Great job!
How do I get the rich family n' friends!? I need that part of the back story, thanks!
I went there once and saw the prices and left. $10 for a cookie and a cup of coffee ? +tax+tip.
did you notice the tuna sandwich for $17 ?
How much did they pay to be put on "make it."
Visited their cafe in Downtown Brooklyn. Interesting design but the food and drinks did not impress, nothing special. For that price, you can get more quality and delicious food.
Wow, from $250K to $50M! 🚀 This is the dream! What's that 'little something more' for you guys that made Maman stand out?
the more i watch these, i notice that they got their starts 2008-2012. General economy rekt by the GFC, but the bottom of the next entrepreneurial bubble
I apologize for my comment but just by looking at their puff pastries, I can tell they are reeeaaaally not good
Misleading: east coast and Canada NOT NewYork .
False news.
New York is a 🐀 place.
love Maman and love their story!
Yeah does not hurt to have French husband 😂
I do miss Maison Kaiser bakery. (Shown in your early montage)
Congratulations to this beautiful couple. Try not to let the business consume your lives and your family. I googled, you already have two children. Congratulations, but also, consider having another!
$250k? On second thought maybe I don’t want to open my own bakery 😅
Plus they had $1.5 million injection from a family member later on. Hard work yes, risk yes, but also connections.
Once you find a winning business model, you're going to have an easier time convincing investors. The hard part is getting started and finding the right product-market fit
In NY absolutely
@@oeckstei money, first of all
This looks delicious
NOW they are thriving, which is great. A lot of these millions are coming from franchises and/or investors I believe? I don't know. But, honestly, I have a gut feeling that in a few years it will be one more failed business, with only a few stores open or maybe only the few main ones. And yes, I bet they taste great, the place looks great, service also, but it's not too difficult to exist a next place as amazing, and appealing as something new for customers. I'm saying this because this is what I see with many great places similar to this one before. I don't know how to keep being profitable in this business, it always looks like a "make your millions and go away" kind of thing.
and i thought i was supporting a local coffee shop
Criticism aside I really do like the food and coffee here lol.
In this video what I find interesting is the fact that he is from France and she is from Canada they opened a restaurant then moved to the APPLE and opened a pastry shop.For many years I have lived in ELMHURST QUEENS and sometimes I get a sweet tooth,and not candy but pastries so I would go to enter men's for commercial pies and cakes but for special occasions I would go to DUBOIS bakery on Broadway. One thing I know is that the Chinese and the Spanish bakery shops are just plain garbage, so I look at European bake shops because they know what they are doing and that's the difference but French bakeries are very expensive and I don't care for croissants as it's only puff pastry,rolled,egg washed and baked,I would rather eat a fruit Danish, or a muffin,or doughnuts early in the morning with coffee or tea good little snack gives me energy and I won't go to Starbucks because it's too expensive not worth the price just stay home and watch TV the news etc
$17 for a tuna sandwich??? No thanks!
$50 million in revenues is respectable but profits are what matter. Would love some discussion about how much they're bringing in themselves
I started watching this report and continued until the point when they showed how much they charged for items in the menu. I went from admiration to despicable. Yes, you created a business and then I see your crazy prices.
Oh, I love it! What an elegant French cafe! If I ever go back to NYC again, I'd love to try it. ❤😊
this is where Starbucks got away from... too bad it would be too hot in TX to open something like this
Im literally sick of life. Tired of failure after failure 😞 everything I do always fails.
Ooh la laa bisous 💋 ❤❤❤ 🇫🇷
No laptops… who made you god!?
The headline is quite misleading.
To all the haters: building a business is not easy regardless of your background. Plenty of smart people with little to no net worth raise money and built a business. And think about all the immigrants coming to this country with nothing and being successful and some of them building billion $ businesses. Many comments here talk about how these two people had easy access to money, but again, building a business is not easy at all and there are so many companies that raised billions and went bust. So kudos to these two for finding a niche market m, scaling their business, and just being happy (they’re clearly living life and happy).
When you have millions of dollars pumped into your business is easy to "succeed"...please stop using the very lame excuse that everyone is "hating" because they are calling out the obvious. For years, their daily living was paid for by their family, who helped them with their New York City rent. Please be humble enough to recognize that privilege makes anyone successful. And did he even become a lawyer and pass the bar exam?? I would call that actual success...not being taken care of by rich friends and family members.
As someone who grew up extremely poor, I can confirm everyone moaning about them having a supportive family to help with a loan, not a handout, are just extremely jealous and bitter because they want what they have, which is extremely entitiled. Stop trying to minimize their hard work cuz you are jealous. 🙄 I have seen many extremely poor people "make it" through terrible sacrifices, and they don't hate on successful people because they were born into a situation they had no control over. 🙄
@@MochiKokoro LMAO! Not they are not jealous for pointing out the obvious. They had their rent payed and millions of dollars injected into their struggling business. Please touch grass and understand privilege does make an impact on how successful a business is. They even hinted that their business had been failing for a long time. No one without rich friends and family members will have multiple opportunities to succeed...most people will only get one shot. Sucking up to rich people online won't make you successful either.
For them to be the 1% who actually made it, 99 other start up restaurants failed where the entrepreneurs lost their 250k.
Does anyone know who is the singer and title at the beginning 0:01?
I love that they expanded in Covid. People with vision and passion can always thrive. And I want to try a cookie. 🍪✨
Husband not too happy about the lifestyle brand direction 🤣🤣
$17 for a tuna sandwich
Don’t make a kid because it costs like $100,000 dollars from 0 to 18 years
Only in America!!!!