The almost century-old ice cream shop The Original Rainbow Cone is expanding within Chicagoland, this time coming to Northwest Indiana.
The exact location of these new stores is unknown, but the company tells Crain’s Chicago Business they are close to signing deals in Florida and northwest Indiana, expecting ten commitments by the end of the year. The Original Rainbow Cone and their partner company Buona Beef have recently announced new franchise programs and hope to expand both businesses throughout the Midwest, plus Florida, Arizona, and Texas. This will be the first time either companies expand beyond Chicagoland.
Buona Beef, led by the Buonavolanto family, joined forces with the Original Rainbow Cone and its owner, Lynn Sapp, about four years ago to greater expand their presence. The ice cream shop has seven locations, with three in development, while Buona Beef has 26 locations, with plans to open 12 more in the next four years.
“We have a 96-year-old brand in Rainbow Cone and a business that was built by five brothers with the support of (their) parents,” said Joe Buonavolanto III, vice president of franchise operations for both companies. “We feel we have a good playbook for others to take it and run with it.”
The Original Rainbow Cone has become a staple for Chicagoans, offering its signature ice cream cones with five colorful slabs of chocolate, strawberry, Palmer House, pistachio, and orange sherbet flavors. On the other hand, Buona Beef was founded in 1981 and proudly serves Italian beef sandwiches. Together, the Original Rainbow Cone and Buona Beef hope the new franchise programs will allow the businesses they grow through potential franchise owners.
