We Spent $250K To Open A NYC Bakery-Now It Brings In $50 Million A Year

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

[@michaelellman7205]

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!

[@polyverse1]

Private equity, rich family, and a touch of treachery is the key. 🔑

[@elleyu9837]

his brother invested 1.5 million in equity. they are Rich-rich!

[@PnoMonies]

Easy-peezy.

[@fritzdeuces]

@@elleyu9837 😏

[@shmuelb.1460]

And good looks.

[@ryantaitague]

33 locations - now the $50M makes sense.

[@pouroverfinance]

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.

[@thetruthsayer8347]

@@pouroverfinance50 million in sales is still a lot.

[@starvingbymidnight]

Aye! Should say BAKERIES NOT BAKERY!

[@FunkyChild718]

Yeah duh, but that's still a ton. That's more than wingstop or mcdonalds franchises make a year.

[@FunkyChild718]

@@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.

[@ralphpaul7925]

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.

[@viciouslyeatingaburger]

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.

[@AlwaysThirstys]

@@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.

[@viciouslyeatingaburger]

@@AlwaysThirstys I get you, if the guy talking Bulls**** to the interviewer.

[@Suetvvlogs]

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.

[@idareyoutolove]

They didn’t say or come off that way. 😮

[@201019541950]

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.

[@ThePinkPantha21]

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.

[@thyslop1737]

The 250k figure seems dubious, unless the place was only 1000 square feet.

[@privatesale211]

haha you dont know France at all then

[@TheSerialHobbyistGirl]

So, basically, they were rich, had rich friends and family, and now they're even richer. Got it. You need money to make money.

[@Jericho9696]

So stop crying and start making money

[@workyourland8435]

It also helps if you're very attractive lol

[@cookiemonster-20]

Their food is expensive.

[@GR-uc1dr]

Yeah, god created money, gave it to 1000 random people and that’s how every single business has been created ever since…

[@thekingcandyman]

no you dont you start small and scale up you have to make sacrifices

[@pameladiazco]

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!!!

[@Cindypisces]

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.

[@davidc4408]

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

[@MajesticLawnGnome]

😂

[@eyesofdoriss]

I noticed MAMAN because of its beautiful blueprint design that really makes them stand out.

[@AntonSlizzardhands]

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?

[@michellemacco]

Thank YOU 😂👏🏽🤣👏🏽🤣👏🏽🤣

[@pineapplesandvibes3277]

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.

[@AntonSlizzardhands]

@@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.

[@Said_w_the_G]

It’s not what you know…

[@andrewb8235]

Did you? I did and I have no idea how to start a cafe, let alone run one that generates $50m/year in revenue.

[@electriquenikki]

This is BEAUTIFUL, love hearing people’s success in business!

[@singhonthestreets]

This is amazing!! Kudos to the couple. Not to forget the cnbc team who is bringing such amazing Stories to us!

[@jakeMontejo3272]

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. 😆

[@707tich]

Thank you for your out look. I can see it from a outsider perspective

[@areulegitman]

It’s aesthetic and pastries are alright but I had the worst latte of my life at Maman.

[@explicamen]

12 cookies 60$ That’s why I never created a business I always think that no one will pay such price and here we are

[@habitualflair6509]

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.🙌🏽

[@GigiMaheux]

SO much hard work and dedication. Well done.

[@FunkyChild718]

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.

[@leishui-b6h]

Targeted demographic - upper middle class white. Choosing NYC is very wise and crucial for cafes with such concept.

[@unboxmuseumm]

Obviously I doubt this would work in South Side Jamaica Queens where Tony Tayo lives.

[@FunkyChild718]

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.

[@davidc4408]

​@@FunkyChild718family wealth at upper class white is higher

[@leishui-b6h]

@@FunkyChild718 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

[@leishui-b6h]

@@FunkyChild718 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.

[@babyblueboy2424]

i love it! as they should and how blessed they are, GOD blessed them with the help they need and still need.

[@sputnik8543]

Benjamin grew up in the south of France - yeah, this guy was rich

[@gtam3habitat]

“His brother invested 1.5M” yeah. Definitely rich family.

[@FunkyChild718]

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.

[@privatesale211]

and you are dumb, you think there is no average or poor people in the south of France ? check Marseilles, Toulon etc.......

[@dl5066]

@@FunkyChild718 his brother invested $1.5m lol

[@3040_SHUBHRANILDAS]

@@FunkyChild718 majority are rich

[@Luckstariii]

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.

[@plannerjoy]

Agreed.

[@plannerjoy]

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.

[@meuricehunt3104]

It was clickbait

[@wintertill]

Everyone saying they did all this cause their rich or know rich people, and let me say it’s definitely easier said than done.

[@tstcikhthys]

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.

[@mr.a.]

We’re getting one near me! I’m actually looking forward to this opening

[@abdulmuti1]

I like the laptop free enviroment sign at 3:36,,,, I think more cafes should do the same. Nice story

[@babyblueboy2424]

i love people being successful!

[@highticketwomencoaches]

Love their beautiful story!!! Congratulations 🎊

[@jspohl]

I love that they expanded in Covid. People with vision and passion can always thrive. And I want to try a cookie. 🍪✨

[@Natasha-oz6ik]

Love this! Wonderful couple, great business idea

[@MrMcfire2]

What an excellent idea! Really shows that if you have a differentiated offering, you can break into any market despite how saturated it may be

[@thyslop1737]

Do not know how you opened a cafe in NYC for only 250k with the regulations, high rent and then equipping it.

[@vladbulauchyk4287]

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.

[@AbdulAli-ci7mz]

Real success hard work n dedication

[@davidacuff4685]

"Make It"? More like "Given It". Have you done ANY research on their families--notably the Sormontes? This is a vivid example of "success" from generational wealth.

[@andrewmichaels5725]

So a wealthy couple vacationing in Spain decided to open a business in NYC with nothing to lose but everything to gain. Impressive.

[@celinefederici6951]

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.)

[@MochiKokoro]

Agreed 100% ☺️ ❤❤❤ 👍.

[@xxmxte6438]

Did anyone tell you not to believe everything on the internet? Negative comments exist for a reason. Coming from someone who knows several people who work for this company, both baristas and office workers, it’s a money hungry corporation disguised as a cute aesthetic cafe. Nothing is truly fresh either. They turned their humble and lovely cafe into chain food garbage just to get richer than they already were to begin.

[@aprelldiana3990]

love Maman and love their story!

[@chica212]

I’ve never been to Maman, after hearing the story I want to go.

[@MochiKokoro]

Oh, I love it! What an elegant French cafe! If I ever go back to NYC again, I'd love to try it. ❤😊

[@vanessajoycecollett6607]

Power couple.Amazing things happen when u suppport each other n not compete with each other

[@MochiKokoro]

❤

[@eyeswideopen7777]

There's old romance charm style in the cafe, theyre in 😂

[@jspohl]

So smart and inspired. And Canadian! 🇨🇦✨💖

[@randompasserby2348]

Assuming a conservative 10% profit margin average for bakeries it would be 4.1M profit per year which divided by 33 locations would be 126k profit per location.

[@wmh5135]

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.

[@AlexClarkcompany]

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.

[@LouisMorganxb3]

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.

[@OscarOwenn]

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.

[@AlexClarkcompany]

How can one find a verifiable financial planner?

[@OscarOwenn]

Leah Foster Alderman is the licensed expert I use. Just look up the name online.

[@AlexClarkcompany]

She seems to be literate and well educated. Thank you for sharing.

[@480brad]

Great job!

[@discounthub1401]

HOw do you get consistency at each of the 33 locations given how hard it is to find employee's today?

[@justforwatch7184]

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.

[@eyeswideopen7777]

French people aren't fat Because they eat in a rush and eat less portions than other western countries

[@LarryNg-mx8qz]

helps with marketing

[@PS-bs8oe]

Fascinating how their bodylanguage and absence of chemistry is at the totally opposite of the business successstory being told...?!

[@askmeificare336]

Jesus, could they be any more stunning of a couple?

[@willnelson3362]

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!

[@Ainappa]

CNBC, are you guys kidding?

[@mimimeye9483]

Maman pronounced « Ma-Man » which means mom 😊

[@unboxmuseumm]

Great Story thank you CNBC entire staff watching from London.

[@___Kim_Jong_Un___]

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! 😂

[@eyeswideopen7777]

Your Not from USA. Your dirt poor from a former Nazi country run by old stooges

[@imaginethatttt]

Tuna sandwich for $17????!!! WTF

[@melkikuo7921]

I said the same thing!

[@madhavigunnala3479]

Hard work , consistency & believed in them selves!!would like to taste their cookie!

[@tc3323]

I feel like they are making money from how cute their spaces are. I tried one of their pastries one time and it felt and tasted like a rock.

[@princessofoffice2233]

what a beautiful story congrats

[@rissa8329]

I just had their chocolate chip cookie. It was a big cookie for $5 but it was very good! I’ll definitely be getting it again.

[@LM2.S54]

they remind me of the wework people

[@dodofeathers3960]

I loved it when i first stumbled into it in washington d.c.!

[@mabel9701]

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.

[@neneyeezy9938]

So is it not Self made if you get a loan from your family or friends?

[@mabel9701]

@@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.

[@jaipoh]

These videos make me sad about myself - why do I still watch!? 😂

[@Kzn4576-i3c]

2 millions in the first year is amazing.

[@polyverse1]

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 😂

[@adrianromo5111]

$45 for 8 cookies is INSANE

[@expo1706]

Absolutely!!!!

[@ninobk196]

they have the BEST chocolate croissants!! I go all the time in Chelsea NYC

[@missann2001]

We desperately need a french bakery in Orange County

[@marynaivanova1370]

I would like to open one, looking for a brother with extra 1.5 million 😂

[@elianevdb]

I love that they paid hommage to Maison Kayzer in the opening shots. It closed back in the pandemic and got taken over in the US by Le Pain Quotidien.

[@himanshukumargodbole5750]

Investment of 250K$= MBA cost from Harvard or Stanford graduate school of business.

[@aldo____]

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.

[@softwaremediaguru]

this is a beautiful bakery shop. feel so homey.

[@kennyholiiday5606]

Husband not too happy about the lifestyle brand direction 🤣🤣

[@SS-wi4tm]

I love the real cups. If I'm spending $5 on a coffee, I want a real beautiful cup.

[@Yaddyvalerio]

I love Maman .

[@EvaEva-m6g]

17 $ for a sandwich? I'm from Europe and haven't been to the US for a long time. Just curious are these prices common now?

[@expo1706]

That's an insane price for any sandwhich.

[@michaelfritzell9352]

$50 million in revenues is respectable but profits are what matter. Would love some discussion about how much they're bringing in themselves

[@SL-lz9jr]

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

[@dr.mohamedaitnouh4501]

Bonjour Benjamin felicitation ... Est-ce-que Maman est une Franchise? ca m'interesse d'ouvrir une.

[@d18zephyr]

I find myself very curious what their prices for goods are.... 🤔

[@MBP1990-z8i]

It's in the video.

[@Stevencoleruston]

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

[@AlexClarkcompany]

We've all made mistakes at some point. You should consider financial planning

[@MatthewFlint-o]

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.

[@Stevencoleruston]

Do you mind sharing your financial planner ?

[@MatthewFlint-o]

Leah Foster Alderman

[@MatthewFlint-o]

You are most likely to find more info when you look her up.

[@Mis-Services-Inc]

Good Videos for small businesses

[@artmaltman]

I do miss Maison Kaiser bakery. (Shown in your early montage)

[@elmundodfrany]

Im literally sick of life. Tired of failure after failure 😞 everything I do always fails.

[@expo1706]

Jesus loves you. Look to Him!

[@thaliasghost]

"How people who already have more, come out on top and make even more.

[@anastasia10017]

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 ?

[@BASE5NYC]

The French accent gives them en edge. I'd buy a baguette from him.

[@howiseeithowdoyouseeit1263]

How do I get the rich family n' friends!? I need that part of the back story, thanks!

[@samuraijack1371]

That something more is really just them charging more money for a pastry

[@holdencawffle626]

For them to be the 1% who actually made it, 99 other start up restaurants failed where the entrepreneurs lost their 250k.

[@gigiatlas2364]

I apologize for my comment but just by looking at their puff pastries, I can tell they are reeeaaaally not good

[@toyarj37]

I can come up with 250k but I don’t have a sibling with 1.5 mil

[@tammiepressley2684]

Very nice

[@lakenbanks9426]

Love this story Thanks for sharing

[@sollunaystars]

Maman is my FAVE coffee place in NYC💙🤍 Would love a few more dairy-free/ vegan chocolate pastry options

[@richardyoung871]

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

[@alexanderschaefer2898]

Very cool story, I go to the Penn station location all the time

[@dprecocious1]

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.