Mr Potato founders take control of three Gold Coast stores as company behind them liquidates

The company behind a trio of healthy fast food stores – launched by a pro basketballer and his model wife – has slipped into liquidation after a business arrangement turned sour.

The company behind a trio of potato-based fast food stores – launched by a pro basketballer and his model wife – has been mashed into liquidation after a family business arrangement turned salty.

Mr Potato was launched by model Jess Davis, 33, and Tyson Hoffman, 29, who played for the Adelaide 36ers NBL team.

Model Jess Davis and husband Tyson Hoffmann at the opening of their first Sydney site of Mr Potato.

It has Gold Coast franchises at Broadbeach, Mermaid Waters, Upper Coomera, Palm Beach and Robina as well as stores across Sydney and Adelaide, where it was founded in 2018.

The Palm Beach store has been marked “permanently closed”, with the company that operated it, Hoff Venture, placed into liquidation shortly after.

Hoff Venture, also operated the Upper Coomera outlet and owns the Mermaid Waters outlet, and is solely directed and held by Mr Hoffmann’s sister, Shanay Finau, 30.

The Gold Coast Bulletin was unable to contact Ms Finau.

Mr Potato boss Tyson Hoffmann with his sister and former franchisee Shanay Finau.

Ms Davis said head office had stepped in to take over all three stores, which would keep operating.

The Palm Beach outlet is set to peel away from its current spot on the Gold Coast Hwy to The Pines Elanora and the Mermaid Waters store will undergo a two-week renovation before reopening.

“As with any business there will always be high performing and low performing stores, this comes down to a number of determining factors, but a lot of it has to do with input from the franchisee,” she said.

“The Mr Potato brand has got a great reputation and a huge amount of fans across the Gold Coast and Australia, however, if there is little to no input being put in by the franchisee, then it’s inevitable that the store won’t do as well as others that are thriving.

“From time to time, there are numerous reasons as to why a change of management is the best option to give a store the best chance to succeed.”

Jess Davis and Tyson Hoffmann at their store in Glenelg. Picture: Tricia Watkinson

Ms Davis said navigating the takeover of her sister-in-law’s stores had been difficult.

“It’s never going to be easy with family or friends but, when we went into this, it was a business agreement and she was well aware of the standards needed to stay in the network,” she said.

“As difficult as it is, at the end of the day, we needed to protect the reputation of the brand and the other franchisees.”

Mr Potato serves up healthy fast food. Picture: Tricia Watkinson

Liquidator Matt Bookless said early inquiries suggested Hoff Ventures had debts to the Australian Taxation Office and business lenders totalling almost $500,000.

He said the takeover by Mr Potato head office just before the liquidation would mean staff, landlords and suppliers were less likely to be impacted by the change.

“It may have been that (servicing) the loans chewed up more of the company’s cash flows than it could sustain and there was also insufficient turnover to sustain the business,” Mr Bookless said.

“Palm Beach was the company’s least profitable store and it was probably the cause of financial problems.”

Jess Davis and Tyson Hoffmann launching their first Sydney Mr Potato at Newtown. Picture: Richard Dobson

Ms Davis described the liquidation as “a bump in the road” for the chain, and that she was excited for its future, with plans in play for new stores at Burleigh Heads and Pimpama.

“Since starting Mr Potato in late 2018 we have grown to a network of 13 locations Australia-wide, with a further four locations set to open before the end of 2023,” she said.