What Happened After Shark Tank: The Journey of Tom & Chee
There’s nothing quite like a delicious homemade grilled cheese sandwich paired with a warm bowl of soup — unless, of course, someone else is making it for you. When Trew and Jennifer Quackenbush, Jenny Rachford, and Corey Ward debuted their classic combination of grilled cheese and tomato soup in a pop-up tent at Cincinnati’s Fountain Square in 2009, it quickly became a hit. This success prompted them to turn it into a full-fledged business.
The idea for the grilled cheese concept emerged during a backyard barbecue when Trew Quackenbush, a chef, and Corey Ward, a graphic designer, came up with the unique combination. Along with the classic tomato and cheese duo that inspired the brand’s name, they also created a signature item: the grilled cheese donut, which replaced traditional bread with a sweet glazed donut. (Alternatively, they offered the option of swapping grilled cheese bread for flaky croissants).
While managing the pop-up tent alongside their full-time careers, the team saved enough money to open their first brick-and-mortar restaurant for Tom + Chee in 2010, located on Court Street in Cincinnati. Just six months later, they launched their second restaurant in Newport on the Levee. The brand received its first significant exposure in 2011 when Adam Richman visited during his Travel Channel show. After months of communication with producers, Quackenbush and Ward appeared on “Shark Tank,” seeking investment to help grow their business.
Tom & Chee Secures Investment on Shark Tank
Tom & Chee was featured on season 4, episode 26 of “Shark Tank,” which aired in May 2013. At the time, the company had already sold one franchise and employed 70 people across three locations. Quackenbush and Ward sought a $600,000 investment for a 10% equity stake.
While the Sharks were initially skeptical about the grilled cheese donut, they were impressed when they learned the brand had grossed over $1.5 million. Barbara Corcoran offered $300,000 for a 15% stake but insisted on bringing another Shark on board to provide the full amount. Kevin O’Leary and Robert Herjavec each offered $100,000 for a 5% stake, but ultimately Mark Cuban joined Corcoran to offer the remaining $300,000 for a 15% stake. Corcoran confidently stated, “Everything in my bones is saying this is a runaway hit” about the grilled cheese business. The duo chose to partner with Corcoran and Cuban, excited about the deal.
The Success After Shark Tank
Following their appearance on Shark Tank, Tom & Chee gained significant traction, transforming their grilled cheese and tomato soup concept into a thriving business. After the episode aired on a Friday evening, Tom & Chee received 2,400 franchise inquiries by Monday morning. That number swelled to over 9,000 in the following months.
However, the deal didn’t unfold as expected. Mark Cuban backed out, believing the brand should focus on corporate stores rather than franchises. Barbara Corcoran remained as an investor but adjusted her stake. Despite these setbacks, the business continued to grow. By 2016, Forbes had named it one of the top 10 businesses to come out of Shark Tank. At that point, Quackenbush and Ward owned four restaurants and 31 franchises.
In 2018, Tom & Chee appeared in a Shark Tank update during season 8, where Quackenbush and Ward hosted their franchise conference, with Corcoran as the keynote speaker. By then, the business had generated $47 million in sales, created over 500 jobs, and expanded the menu to include a variety of sandwiches, soups, and customized options.
Is Tom & Chee Still Operating?
Tom & Chee remains operational but has faced challenges over the years. In 2014, the company acknowledged that its rapid growth led to layoffs and required borrowing funds. Several locations began to close in 2015, and in 2017, GSR Brands, the parent company of Gold Star Chilli, acquired the 23 remaining locations of Tom & Chee.
In 2019, two years after the acquisition, GSR Brands streamlined operations, refining the menu and rebranding Tom & Chee. A new prototype store opened in 2020, focusing on smaller locations with high-speed ovens for quicker sandwich preparation. The pandemic shifted the company’s focus to take-out services, and by 2021, Tom & Chee was poised for expansion once more, with new locations opening and a revised menu emphasizing melts rather than traditional grilled cheese sandwiches.
The Future of Tom & Chee
Tom & Chee aims to continue its success with smaller locations and a simplified menu. The updated menu now features fewer than 10 melts, a selection of soups, and salads, but the iconic grilled cheese donut remains. In November 2023, the brand introduced a special melt, “The Golden Cheese Touch,” which featured mac n’ cheese and barbecue sauce on Parmesan-crusted bread to benefit a cancer charity. Seasonal specials for summer 2024 include a strawberry peach salad with goat cheese and a gluten-free loaded baked potato soup. The brand also plans to expand its food offerings.
The new approach appears to be successful, as the Cincinnati Enquirer recognized Gold Star and Tom & Chee as winners of the Greater Cincinnati and Northern Kentucky Top Workplaces 2024 Award. Together, these brands employ 1,700 individuals. The brand was also a finalist in the grilled cheese category for the Greater Cincinnati 2024 Family Choice Awards, and its franchise model continues to inspire aspiring entrepreneurs. Franchise costs range from $339,700 to $704,000.
However, the founders seem to have moved on. Trew Quackenbush has been a culinary instructor at a high school since 2018, and Corey Ward launched a new venture, Planet-B Games, in 2022. As of May 2024, Ward was actively seeking employment.
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