What is OatMeals and what makes it unique? OatMeals is a New York City-based restaurant founded by Samantha Stephens that specializes in gourmet oatmeal. It distinguishes itself by offering a wide variety of creative oatmeal bowls with unique toppings and flavor combinations, as well as a build-your-own option with over 80 toppings to choose from.
Summary
- OatMeals, founded by Samantha Stephens, is a gourmet oatmeal bar and cafe.
- It was featured on Shark Tank Season 10, where Samantha secured a deal with Lori Greiner for $500,000 for 33.3% equity.
- The deal ultimately fell through.
- OatMeals, unfortunately, closed down in 2021 due to the COVID-19 pandemic.
- Samantha continues to share oatmeal recipes and sell her granola online.
OatMeals Shark Tank Update | Shark Tank Season 10
What is OatMeals?
OatMeals was a unique restaurant concept brought to life by Samantha Stephens. Imagine a place dedicated entirely to oatmeal, but not just any oatmeal. This was gourmet oatmeal with a modern twist.
Instead of plain oats with a sprinkle of brown sugar, OatMeals offered a menu of creative and delicious oatmeal bowls with toppings both familiar and unexpected.
Think savory combinations like parmesan cheese and truffle oil or sweet concoctions with fruits, nuts, and chocolate.
Customers could also build their own oatmeal masterpieces from a vast selection of over 80 toppings. This wasn’t your grandma’s oatmeal; it was an elevated oatmeal experience.
OatMeals on Shark Tank
1. The Pitch
Samantha Stephens took her oatmeal dream to the Sharks on Season 10 of Shark Tank, hoping to secure an investment to expand her business.
Here’s a breakdown of her pitch:
| Entrepreneurs | Samantha Stephens |
|---|---|
| Business | OatMeals – Oatmeal Restaurant |
| Ask | $500,000 for 20% equity |
| Deal | $500,000 for 33.3% equity (Lori Greiner) |
| Sharks | Lori Greiner, Barbara Corcoran, Daymond John, Kevin O’Leary, Mark Cuban |
| Season – Episode | Season 10, Episode 7 |
| Original Air Date | November 18, 2018 |
| Website | OatMeals |
| Key Points of Pitch |
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| Why Sharks Were Interested |
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2. The Deal
Lori Greiner, recognizing the potential of OatMeals, offered Samantha the requested $500,000 but for a larger share of the company (33.3%).
Barbara Corcoran also saw promise in the business but proposed a different direction, suggesting a focus on expanding into a food cart business.
Ultimately, Samantha decided to partner with Lori, hoping to leverage her expertise in retail and product development to take OatMeals to a national market.
OatMeals After Shark Tank
1. The Update
While the Shark Tank appearance initially seemed promising for OatMeals, things unfortunately didn’t go as planned. Despite securing a deal with Lori Greiner, the partnership ultimately fell through.
The exact reasons for this haven’t been publicly disclosed, but it’s common for deals made on the show to face challenges during the due diligence process.
Sadly, the story doesn’t end there. OatMeals, like many other businesses in the food service industry, was severely impacted by the COVID-19 pandemic.
The challenges posed by lockdowns, restrictions, and changing consumer habits proved to be too much for the young company to overcome. In January 2021, OatMeals was forced to close its doors permanently.
2. Reasons for Closure
While the pandemic was the final blow, several factors likely contributed to the closure of OatMeals:
- The failed Shark Tank deal: Losing Lori’s investment and guidance likely hindered OatMeals’ ability to expand and build resilience.
- High operating costs in NYC: Running a restaurant in New York City comes with significant overhead expenses, making it difficult to stay afloat during tough times.
- Niche market: While the gourmet oatmeal concept was unique, it may have limited the customer base compared to more traditional restaurants.
- Changing consumer behavior: The pandemic accelerated trends towards takeout and delivery, which may not have been ideal for OatMeals’ focus on a dine-in experience.
Despite its closure, OatMeals left a mark on the culinary scene in New York City. It demonstrated the potential for innovation within a seemingly simple food category and inspired others to think outside the box when it comes to oatmeal.
What Happened to Samantha Stephens?
Even though OatMeals closed, Samantha Stephens didn’t give up on her passion for oatmeal. She continues to be an advocate for creative oatmeal consumption and shares her expertise in various ways. Here’s what she’s been up to:
- Quaker Oats: Samantha still holds the position of “Creative Oatmeal Officer” for Quaker Oats. She develops recipes and promotes the versatility of oatmeal through the company’s website and social media channels.
- Recipe Development: Samantha continues to create and share delicious oatmeal recipes through the OatMeals Facebook page and her personal Instagram account. She’s also working on a cookbook to further inspire oatmeal enthusiasts.
- New Ventures: While information is limited, Samantha hints at future plans for OatMeals, suggesting a possible comeback down the road. She remains dedicated to sharing her love for oatmeal with the world.
FAQs
Is OatMeals still in business?
No, the OatMeals restaurant in New York City closed in 2021.
Can I still buy OatMeals products?
Currently, only the OatMeals Signature Granola is available for purchase online.
Why did the deal with Lori Greiner fall through?
The specific reasons haven’t been publicly disclosed.
What is Samantha Stephens doing now?
She continues to work with Quaker Oats, develop recipes, and explore new opportunities for OatMeals.
The Bottom Line
The story of OatMeals is a reminder that even with a great product and a Shark Tank deal, success in the business world isn’t guaranteed. The challenges of the food service industry, compounded by the COVID-19 pandemic, ultimately led to the closure of the OatMeals restaurant.
However, Samantha Stephens’ passion for oatmeal remains strong, and she continues to inspire others with her creativity and dedication. While the future of OatMeals is uncertain, Samantha’s journey serves as an example of resilience and the enduring power of pursuing one’s passion.
