The Savannah Bananas Business Is Booming

Forbes

4 hours ago

Jesse Cole has built the Savannah Bananas into a world-class organization that is printing more and ... More more money. (Photo by Luke Johnson/Los Angeles Times via Getty Images)
This the third in a series of articles on the Savannah Bananas. The first two can be found here and here.
In 2023, the Savannah Bananas embarked upon their first real 'world tour,' playing 71 games across 21 states. When all was said and done, they played in front of 500,000 fans.
The next year, they actually played in fewer states (20), but they went big time: In March, they played their first game in a major league stadium (Minute Maid Park, now known as Daikin Park, in Houston). In June, a dream came true for Bananas owner and Boston native Jesse Cole, as his team played a game at Fenway Park. Later that summer they played at Progressive Field in Cleveland. In September, they went to Citizens Bank Park in Philadelphia. And then in October, they took over LoanDepot Park in Miami. In between, they played at all sorts of minor league stadiums, entertaining fans each and every night. The final tally for 2024 was just more than one million happy customers.
This year they set their sights even higher. Forty cities are on the schedule, across 28 states (plus the District of Columbia). They will play in 17 different MLB stadiums, including landmarks like Fenway Park (again), Yankee Stadium, and Camden Yards. But it is at Bank of America Stadium in Charlotte, North Carolina, where history was made. Over two nights earlier this month, the Savannah Bananas played in front of a total of 150,000 fans (75,000 each night). The Carolina Panthers normally play in that stadium on Sundays, but the city of Charlotte paid to convert into it a baseball field for marquee events over a weekend.
When the 2025 campaign is done, the Bananas will have danced, twerked, back-flipped, breakdanced, and delighted more than two million fans.
Any product specialist would love this level of growth. Jesse and his wife Emily, the co-founders and owners of the Bananas, are no different. But, when you ask Jesse about the ever-growing number of people their teams play in front of every night, he will tell you about the ever-growing level of stress to entertain.
Standing on the infield two hours before the Bananas second game in Anaheim a couple of weeks ago, Jesse said to me: 'You see 45,000 fans. I see 45,000 people with whom we have to make a connection. 45,000 people who need to have the time of the lives. I feel that obligation, and am committed to making it happen.'
That night in Anaheim set a two-day record for the team – playing in front of 90,000 fans. Fortunately for the Coles, that record was short-lived, as, referenced above, they broke it in Charlotte just one week later.
The Bananas will play 48 games this summer, with 39 of them on the road, in states all over the country. They will play only nine games in their home ballpark, Grayson Stadium, which sits right in the heart of Savannah, Georgia.
Fans cheer as the Savannah Bananas play their home opener against the Party Animals at Grayson ... More Stadium. (Photo by)
And while the Bananas don't need any homefield advantage, they do enjoy the control they have at home. Jesse and Emily are quite meticulous about concessions, which are all-you-can-eat and included in the price of admission in Savannah (burgers, hot dogs, chips, cookies, soda, water, popcorn). Unfortunately, when they play on the road (roughly 80% of the time), they must cede control of concessions to the owner of stadium. Thus, they are subject to what the local teams offer and charge. And their efficiency. The Coles are so cognizant of wait times for snacks that Emily has been known to jump behind the counter and help expedite matters to get fans back to their seats as quickly as possible.
In Savannah, tickets runs between $35-$40 – an incredible value considering all that it comes with. And if you want to become a VIB (a 'Very Important Banana,' of course), you can pay $125, which allows you to gain early entry to the park, and have pregame field access to meet and greet the players. Even at this low price, according to Tim Naddy, the Bananas' vice president of finance, the 'entire company can run off ticket revenues.'
Unfortunately, demand for tickets blows away supply. As of this summer, there is a three million person waiting list (that is not a typo), so getting an email stating you have 'won' the lottery and providing you access to tickets to an upcoming game can feel like Christmas in July. Nearly everyone who gets an invitation purchases tickets; but they often resell them on the secondary market. While the Coles frown on this practice, there is not much they can do about it. StubHub is currently listing tickets for upcoming games from as low as $86 to well-over $400. Even the cheapest ticket on one of these sites is multiple times what the team charges, and the owners never want their entertainment offerings to become cost prohibitive.
For the true Banana fan (Fanana?), one who wants to avoid paying exorbitant prices, you can join the K Club. Once a member of this illustrious organization – which will cost you just $59 this year – you can purchase up to six tickets to games before the lottery opens, giving you access to games, tickets, events, meet and greets, and premium experiences that never even reach the general public. There are K Club Ambassadors who serve you and provide members with the perfect experience. And, of course, K Club members get a first look at merchandise drops.
And merchandise is where it is at. Go to a Bananas game and there will be more merchandise tents than you can shake a banana peel at. They have them for the Bananas as well as their opponents. Most fans don't leave the park without something – a hat, t-shirt, jacket, or even a special Banana Wilson glove. There are jerseys, stress balls, stuffed animals, and even underwear. Everywhere you look at a Bananas game you will see people clad head to toe in gear. The team keeps total merchandise sales and best-sellers close to the vest, and because they keep an incredible inventory, it is impossible to know which items go fastest and/or offer the best profit margin. But even without spreadsheets and P&Ls, it is clear that merchandise is a profit center for the club. Naddy, the finance vice president, keeps merchandise sales separate from other revenue streams to ensure that 'merchandising isn't supplementing operations.'
An additional revenue source for the team is television broadcasting. They produce their own telecasts, and license various games to Disney+ and ESPN+. They have added TruTV, which is owned by TNT Sports, as an additional licensee. And that does not include their own YouTube channel. The team is looking to expand its television offerings, but they maintain that the in-person viewing is still the best way to experience the show.
The Savannah Bananas are owned and operated by Fans First Entertainment, a privately held company. According to the Huddle Up Substack, it possible that the team is worth as much as $1 billion. But without auditing their books, or until Jesse and Emily take their company public or at least seek investors based on a valuation, it is impossible to know for sure. What is known for sure is that the business is booming and growing each and every season. They have already taken a cruise to The Bahamas and will be heading to Cozumel, Mexico next February. One doesn't need to squint very hard to see their self-named 'World Tour' expanding to Europe and beyond in the coming years.
And yet, despite all of their accomplishments to date, the owners aren't resting on their laurels. They are using their success to continue to build their product, add teams, enhance the experience, and entertain even more fans.