This article discusses the journey of Brian Smith and Jackie Cuscuna, the founders of Ample Hills Creamery, in the ice cream business. According to the original article by Ashton Jackson and Zachary Green, Smith and Cuscuna started their venture with an ice cream cart and eventually opened their first shop in Brooklyn in 2011. The business gained success, attracting customers including celebrities and achieving a peak valuation of $40 million. However, poor business decisions and overspending on equipment and packaging led to financial difficulties, resulting in bankruptcy for both the business and personal assets in 2020.
Despite the setbacks, Ample Hills was later purchased by Schmitt Industries for $1 million. In the following year, Smith and Cuscuna were able to open a new venture called The Social and also reacquire the Ample Hills brand for $150,000. The entrepreneurs’ passion for creating and sharing ice cream remained the driving force behind their businesses. After the bankruptcy, Cuscuna took entrepreneurial courses and partnered with knowledgeable investors to focus on achieving profitability.
As of July, Ample Hills was back on auction and Smith, Cuscuna, and their investors successfully regained the brand and leases for four shops. The article mentions that their aim now is to foster the growth of both The Social and Ample Hills as prosperous businesses. The shops had reportedly generated approximately $350,000 in revenue by that time, and each location was profitable.
Based on the information provided in the original article, this summary is estimated to be 80% news (facts) and 20% editorial (opinion). While the content appears to be mostly factual, detailing the history, difficulties, recovery, and current status of the ice cream businesses, it does contain some implied analysis of the causes of their financial troubles, which may incorporate some degree of opinion. However, the article does not exhibit any political bias or make any political statements or implications.
This article is 80% likely factual news based on my current analysis.