Top 5 Business Pitches That Sparked Bidding Wars | Shark Tank US | Shark Tank Global

00:48:52
https://www.youtube.com/watch?v=oGoY8Zqm9lo

Summary

TLDRThis episode of Shark Tank features several innovative products from young entrepreneurs, including the Little Elf gift wrap cutter, which offers a solution to messy wrapping. Brian, the inventor, impresses the sharks with his personal story and sales success, eventually securing a deal with Lori. Next, Jordan presents his ice cream canteen, a patented product that keeps ice cream cold without a freezer. His strong sales figures attract competitive offers from multiple sharks, leading to a partnership focused on expanding retail distribution. Lastly, 11-year-old Carson pitches Locker Boards, eco-friendly skateboards designed to fit in lockers. With multiple sharks vying for the chance to invest in his vision, Carson ultimately chooses Richard Branson for his higher offer and international expertise. The episode illustrates the creativity and resilience of the featured entrepreneurs and their products' potential in the market.

Takeaways

  • 🎁 Little Elf makes wrapping gifts easy and neat!
  • 🍦 Ice cream canteen keeps your treats frozen for hours!
  • ♻️ Locker Boards are made from recycled materials for eco-friendly fun.
  • 💰 Entrepreneurs showcased creativity and resilience.
  • 🤝 Partnerships with sharks lead to business growth opportunities.

Timeline

  • 00:00:00 - 00:05:00

    Brian Pea, a confident 21-year-old entrepreneur from Massachusetts, pitches the Little Elf Gift Wrap Cutter to alleviate the stress of holiday gift wrapping. He seeks $150,000 for 15% equity, presenting a unique cutter designed to provide clean cuts and ease of use which solves common wrapping paper problems. The sharks engage in a hands-on demonstration, impressed by the product's functionality and Brian's impressive background as a dyslexic innovator. Brian mentions the sales he's achieved and shares his ambitions, creating excitement among the sharks.

  • 00:05:00 - 00:10:00

    The Little Elf's competitive price point and Brian's effective business model catch the sharks' attention. Brian mentions his existing licensing agreement, boosting his credibility. The sharks recognize his potential, leading to competitive offers, with Kevin O'Leary and Lori Greiner expressing interest in collaborations and partnerships, indicating potential pathways for growth and distribution of the Little Elf in retail spaces and television markets.

  • 00:10:00 - 00:15:00

    Tension rises as Brian contemplates offers from Lori and Kevin, weighing equity against royalties. His reluctance to accept their deals reflects his desire to retain control over his craft. Eventually, Brian is persuaded to accept Lori's offer, balancing his self-ownership with the potential for expansion and financial security that comes with a partnership.

  • 00:15:00 - 00:20:00

    Jordan introduces the Ice Cream Canteen, a solution to take ice cream on the go without melting. He confidently seeks $100,000 for 5% equity while demonstrating the product's effectiveness. The sharks appreciate the innovation and practicality of the Ice Cream Canteen, leading to inquiries about profit margins and production costs.

  • 00:20:00 - 00:25:00

    Jordan's impressive sales figures reveal a strong market potential, elevating the sharks' interest. However, concerns arise over competition as similar products enter the market, compelling Jordan to clarify intellectual property protections. The sharks grapple with the valuation, debating the size of equity and structure of offers, emphasizing the need for strategic partnership.

  • 00:25:00 - 00:30:00

    Various offers are made, creating a competitive atmosphere. While some sharks emphasize equity, others offer royalty arrangements. Jordan experiences pressure as he weighs the lucrative offers against his valuation of the business, causing him to navigate a complex negotiation process, demonstrating his resilience as an entrepreneur.

  • 00:30:00 - 00:35:00

    Aaron Krauss, the inventor of Scrub Daddy, makes an entrance, seeking $100,000 for 10% equity. He explains the innovative features of Scrub Daddy, showcasing its unique performance capabilities with impressive live demonstrations. The sharks quickly respond to his pitch with enthusiasm due to its substantial sales traction and demonstrated popularity.

  • 00:35:00 - 00:40:00

    Despite some skepticism around retail viability, Aaron demonstrates a firm grasp of his business, noting QVC's ongoing support and orders. The sharks recognize the brand value of Scrub Daddy, leading to a flurry of offers as they seek to secure a profitable partnership, further highlighting the business's growth potential and market demand.

  • 00:40:00 - 00:48:52

    Lastly, Carson, an 11-year-old inventor, presents his innovative skateboards designed for easy storage and environmental sustainability. He articulates the unique benefits of his product, garnering admiration from the sharks for his entrepreneurial spirit. His sales performance, despite being modest, suggests potential for scalability. The sharks provide guidance, reflecting on his future growth as they deliberate on the merits of investing in a young entrepreneur.

Show more

Mind Map

Video Q&A

  • What is the Little Elf gift wrap cutter?

    It's a product designed to easily and neatly cut wrapping paper.

  • Who created the ice cream canteen?

    Jordan, an entrepreneur seeking investment to streamline production and distribution.

  • How many sales has the ice cream canteen achieved?

    The company expects to generate over $400,000 in sales this year.

  • What does Locker Board offer?

    A skateboard that fits in lockers made from recycled skateboard decks.

  • What are the funding requests for these products?

    The entrepreneurs each sought funding for equity in their companies.

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  • 00:00:02
    [Applause]
  • 00:00:04
    next into the tank is a way to make a
  • 00:00:06
    holiday chore
  • 00:00:09
    [Music]
  • 00:00:15
    easier hi sharks my name is Brian pea I
  • 00:00:19
    21 years old from West Boon
  • 00:00:21
    Massachusetts I am the owner and
  • 00:00:24
    inventor of little elf gift wrap cutter
  • 00:00:26
    today I am seeking
  • 00:00:28
    $150,000 in exchange for 15% stake in my
  • 00:00:32
    company sharks we all know the holiday
  • 00:00:35
    season is stressful do we really need
  • 00:00:38
    one more thing to test our patients like
  • 00:00:41
    cutting wrapping paper with
  • 00:00:47
    scissors everyone hates cutting wrapping
  • 00:00:50
    paper because it always comes out ripped
  • 00:00:53
    Jagged or crooked all of this paper has
  • 00:00:55
    been left useless for anything but the
  • 00:00:58
    recycling bin
  • 00:01:00
    that's why I have revolutionized the way
  • 00:01:03
    people cut gift wrap with the little elf
  • 00:01:05
    the easy lightweight and fast gift wrap
  • 00:01:08
    cutter in just a few seconds you can cut
  • 00:01:12
    straight and feel great just measure the
  • 00:01:14
    paper to your desired length Slide the
  • 00:01:17
    little elf back so the sheet of paper
  • 00:01:19
    drops into the blade embedded slot and
  • 00:01:21
    then with ease push the little elf
  • 00:01:25
    forward good getting a smooth clean and
  • 00:01:28
    extremely satisfying cut but every
  • 00:01:31
    single time so sharks I know you all
  • 00:01:34
    could use a little helper this holiday
  • 00:01:35
    season so who's ready to join me get
  • 00:01:38
    wrapped up in a Cutting Edge investment
  • 00:01:40
    with the little elf I actually want to
  • 00:01:41
    try it too you guys can come on up and
  • 00:01:43
    try it so first what you're going to do
  • 00:01:46
    you can just grab this sheet of paper
  • 00:01:47
    slide this little off back so it drops
  • 00:01:50
    into that blade and bed slot and then
  • 00:01:52
    just move it forward with ease yeah
  • 00:01:55
    Barbara how is it hard to aim easy to do
  • 00:01:57
    once you got it yep and then just slide
  • 00:02:00
    it Forward wow that's pretty ingenious
  • 00:02:02
    Lori was it easy it really was and it
  • 00:02:05
    doesn't matter how big or how small the
  • 00:02:07
    piece of paper is right what if I only
  • 00:02:09
    want half the sheets so I can show you
  • 00:02:11
    that right now so it's great for
  • 00:02:12
    trimming as well you're going to insert
  • 00:02:14
    it into the blade St like this with the
  • 00:02:16
    little elf upside down and then you can
  • 00:02:18
    trim the paper just like that it's just
  • 00:02:21
    that easy it's just that easy how much
  • 00:02:24
    does it cost so on Amazon we're selling
  • 00:02:26
    a two pack for $13.99 and on our website
  • 00:02:29
    we're selling anywhere from 5.99 to 7.49
  • 00:02:33
    depending on the quantity how' you come
  • 00:02:35
    up with this I've always had just The
  • 00:02:37
    Knack for like thinking of ideas coming
  • 00:02:39
    up with Solutions but that was confusing
  • 00:02:41
    to my teachers as like an elementary
  • 00:02:43
    school student because I really
  • 00:02:45
    struggled with Reading Writing and
  • 00:02:47
    comprehension finally in second grade I
  • 00:02:50
    was diagnosed with pretty severe
  • 00:02:52
    dyslexia yes yep to for the rest of my
  • 00:02:56
    elementary school I struggled with you
  • 00:02:58
    know reading three four four grades
  • 00:03:00
    behind finally in fifth grade I was
  • 00:03:03
    transferred to a school specifically for
  • 00:03:05
    dyslexic students throughout High School
  • 00:03:07
    I really embraced that I developed and
  • 00:03:09
    designed what is today little elf gift W
  • 00:03:12
    and how old were you at the time I was a
  • 00:03:14
    senior in high school what really yeah
  • 00:03:18
    yeah Brian good job and right now I am
  • 00:03:20
    actually a junior at Stanford University
  • 00:03:23
    up in wow you got impressive what are
  • 00:03:26
    you studying at Stanford product design
  • 00:03:28
    so it's the perfect
  • 00:03:30
    it's the perfect match for me what are
  • 00:03:31
    your sales this year and how much money
  • 00:03:33
    you going to make to date we've done
  • 00:03:35
    $250,000 in sales wow you're doing
  • 00:03:38
    everything alone and you own it 100% I
  • 00:03:40
    am running the whole business myself I
  • 00:03:42
    do have a licensing agreement with the
  • 00:03:45
    world's largest gift wrap company so my
  • 00:03:48
    deal is for the next 2 to 4 years I get
  • 00:03:51
    10 to 13% of retail sales only but I can
  • 00:03:55
    sell online I can sell on QVC HSN online
  • 00:03:59
    shop you been on QVC HSN what is your
  • 00:04:02
    cost to make it
  • 00:04:04
    $29 so it cost you $29 and your what's
  • 00:04:07
    your average sales price $15 so you're
  • 00:04:10
    selling multiple units typically Brian
  • 00:04:12
    you're you're killing it your margins
  • 00:04:14
    are like 80% mhm what else do you need
  • 00:04:17
    help with advertising you know I haven't
  • 00:04:19
    spent a dime on Advertising just to
  • 00:04:20
    drive your online sales just to drive
  • 00:04:22
    online sales get on TV shopping would be
  • 00:04:24
    huge someone sees it in action they're
  • 00:04:26
    going to fall in love with it
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    immediately listen I think I've heard
  • 00:04:30
    enough um I'm going to make you an offer
  • 00:04:32
    I feel I'd be a great partner for you
  • 00:04:34
    because this is Visual and I think I
  • 00:04:37
    could blow this up on QVC and also
  • 00:04:40
    elsewhere but I think you need help so
  • 00:04:42
    it would be
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    150,000 for
  • 00:04:46
    30% so that we can be good thing I'm
  • 00:04:49
    here so that we can be
  • 00:04:52
    partners as a fellow dyslexic I'm going
  • 00:04:55
    to make you an offer too I'm not as
  • 00:04:58
    greedy too will bring you in under my
  • 00:05:01
    vendor code at QVC and my team I will
  • 00:05:04
    personally sell it on my show we'll sell
  • 00:05:06
    a ton of it oh a little competition yeah
  • 00:05:09
    yeah we have competition but I'm going
  • 00:05:10
    to structure it differently I'm going to
  • 00:05:11
    give you
  • 00:05:13
    $150,000 um I'm going to apply a royalty
  • 00:05:16
    of a dollar unit you can afford until I
  • 00:05:19
    get back 450,000 then that goes away
  • 00:05:22
    forever I want 10% of the company and I
  • 00:05:26
    will blow it up huge on Amazon and on on
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    your website huge it'll be insane what
  • 00:05:33
    happens you have two offers what do you
  • 00:05:35
    want to do I mean I I thank you both I
  • 00:05:38
    think it would be foolish of me not to
  • 00:05:39
    listen to everyone else I have a
  • 00:05:41
    question yeah repeat back to me what
  • 00:05:44
    Kevin offered you so he offered me
  • 00:05:46
    150,000 for 10% with a dollar royalty
  • 00:05:51
    dollar royalty and he until he gets back
  • 00:05:54
    $450,000 so I'll do his deal but I'll go
  • 00:05:58
    75 cents in in
  • 00:06:00
    royalty I'll drop it to
  • 00:06:04
    50 I'll drop it to 45 I'm helping you
  • 00:06:08
    out here a lot I'd say I'll drop it to
  • 00:06:11
    40 I'll drop it to 35 that's going to
  • 00:06:14
    take
  • 00:06:16
    2,000 years no no no I'm
  • 00:06:19
    thinking so I would rather from my point
  • 00:06:23
    of view have a partner with just Equity
  • 00:06:26
    no royalty at all yeah I have not taken
  • 00:06:28
    any money out of this myself and I'm
  • 00:06:30
    good with that so my offer was
  • 00:06:33
    150,000 for
  • 00:06:36
    30% okay do you want a
  • 00:06:40
    counter I will offer 150,000 for
  • 00:06:43
    25% I can sell hundreds of thousands of
  • 00:06:46
    these in minutes in my show I mean no
  • 00:06:48
    offense to Kevin but my show is way more
  • 00:06:50
    popular no that's not true at all yes it
  • 00:06:53
    is very true oh my God it's so true but
  • 00:06:57
    anyway I'll give you a an offer 150,000
  • 00:07:02
    20% I hope you take
  • 00:07:05
    it my last offer was at 25 and you've
  • 00:07:08
    dropped to 20% no royalty straight
  • 00:07:10
    Equity yes that's the deal hey Brian you
  • 00:07:14
    are one impressive guy I got to tell you
  • 00:07:16
    you are the spirit of what makes this
  • 00:07:18
    country great you didn't make excuses
  • 00:07:21
    you overcame incredible odds I admire
  • 00:07:23
    that it's not my space both of these
  • 00:07:27
    guys are great I'm out I really
  • 00:07:30
    appreciate your time thank you that's
  • 00:07:31
    very I'm going to clear the floor but I
  • 00:07:34
    really want to encourage you I think
  • 00:07:36
    you're fine on your own I can't even
  • 00:07:38
    imagine what you need to sharken out
  • 00:07:45
    okay so Brian I'm trying to get a feel
  • 00:07:47
    where you want to go because one side
  • 00:07:50
    says you know what you can make a lot of
  • 00:07:52
    money with a licensing plate plus doing
  • 00:07:54
    it from your website plus just adding
  • 00:07:56
    some SEO for Amazon right I know what
  • 00:07:59
    Lor can do she can do great things but
  • 00:08:01
    what's important here is your vision and
  • 00:08:03
    how you want to see it blow up I mean
  • 00:08:05
    I've sold over a thousand
  • 00:08:07
    success products on QVC alone Brian
  • 00:08:11
    don't you think every shark does that
  • 00:08:13
    with all of their entrepreneurs we've
  • 00:08:14
    been doing this for 10 years no you
  • 00:08:16
    don't Lor's the only one that makes
  • 00:08:17
    money with r Kev we all do it I sell all
  • 00:08:22
    my deals on QVC including love Pop cards
  • 00:08:25
    which has been an unmitigated hit yes
  • 00:08:27
    and that's because of the gifting SE
  • 00:08:29
    around holiday we kill it Brian what is
  • 00:08:31
    it that you want in a partner listen to
  • 00:08:34
    your INS What is it that you want for
  • 00:08:36
    yourself what's you want a
  • 00:08:40
    dyslexic so here I am baby the the
  • 00:08:44
    retail license opportunity is great you
  • 00:08:46
    have in your pocket though right is it
  • 00:08:48
    yeah so while the retail licenser is you
  • 00:08:51
    know really growing that business I just
  • 00:08:54
    need to make sure that I'm doing my due
  • 00:08:55
    diligence and making sure that it's a
  • 00:08:57
    cool item that someone can buy on line
  • 00:09:00
    and you have two good offers I
  • 00:09:02
    think though I'm curious like would you
  • 00:09:04
    want to be my entrepreneurs come on with
  • 00:09:06
    me in my show you can come on my that's
  • 00:09:10
    the goal right if you like that idea of
  • 00:09:11
    being on QVC and do it's not my
  • 00:09:13
    wheelhouse for those Reasons I'm out
  • 00:09:15
    you're out okay let's just summarize the
  • 00:09:17
    offers I've offered you the 150,000 no
  • 00:09:20
    royalty for 25% Lor's at 150,000 for 20
  • 00:09:24
    the extra five is for the Mr Wonderful
  • 00:09:26
    part okay cuz there's only one Mr
  • 00:09:28
    Wonderful I'm not discounting myself is
  • 00:09:30
    there any way you would work together so
  • 00:09:32
    no not answer we don't need we don't
  • 00:09:35
    need to but you know in your heart the
  • 00:09:37
    right way to
  • 00:09:41
    go Kevin we dyslexic we have that Bond
  • 00:09:46
    but Lori is the best option for this and
  • 00:09:49
    I love to make a deal with you I accept
  • 00:09:52
    your deal seriously we will blow I will
  • 00:09:55
    not let you than absolutely huge mistake
  • 00:09:58
    this product has Lori
  • 00:10:01
    written next up is a way to carry
  • 00:10:04
    America's favorite dessert on the
  • 00:10:07
    [Music]
  • 00:10:12
    go hi sharks my name is Jordan and I'm
  • 00:10:16
    here today asking for
  • 00:10:17
    $100,000 in exchange for 5% equity in my
  • 00:10:20
    company the ice cream
  • 00:10:24
    [Music]
  • 00:10:27
    canteen sharks this is the Pine of ice
  • 00:10:29
    cream this is the most delicious and
  • 00:10:32
    most popular dessert in the country the
  • 00:10:34
    problem is ice cream melts so quickly
  • 00:10:37
    that you can't take this
  • 00:10:40
    anywhere that's why I created the ice
  • 00:10:42
    cream canteen the world's first double
  • 00:10:45
    walled vacuum insulated container for
  • 00:10:47
    the pine of ice cream so you can keep
  • 00:10:48
    your ice cream cold and enjoy ice cream
  • 00:10:52
    anywhere just drop in your favorite ice
  • 00:10:55
    cream screw on the cap and the ice cream
  • 00:10:58
    canteen will keep it Frozen for hours no
  • 00:11:00
    freezer no problem if it sounds too good
  • 00:11:03
    to be true let's put it to a test mark
  • 00:11:06
    would you like to come up here and help
  • 00:11:07
    me test out the ice cream canteen
  • 00:11:11
    [Music]
  • 00:11:12
    sure let's go ahead and get our safety
  • 00:11:14
    gear on
  • 00:11:16
    [Music]
  • 00:11:19
    okay hello
  • 00:11:22
    hello so I would like you to do your
  • 00:11:24
    best to melt this Pine of ice cream are
  • 00:11:27
    you ready I'm ready all right
  • 00:11:31
    nuke it Mark nuke it Mr
  • 00:11:35
    [Music]
  • 00:11:35
    [Laughter]
  • 00:11:38
    [Music]
  • 00:11:41
    Wonderful all right get in there Mark
  • 00:11:43
    it's not it's not going to melt itself
  • 00:11:44
    backu
  • 00:11:46
    [Music]
  • 00:11:48
    off let's get
  • 00:11:50
    [Music]
  • 00:11:53
    hot all right we're going to burn the
  • 00:11:55
    table step hang on back for a second the
  • 00:11:57
    table's on fire
  • 00:12:00
    [Music]
  • 00:12:01
    all right already at
  • 00:12:04
    425° wow wow all right thanks Mark let's
  • 00:12:07
    check it out let's see how we're doing
  • 00:12:08
    let's see if we got some ice cream oh my
  • 00:12:11
    got
  • 00:12:12
    open okay that is very
  • 00:12:15
    hot
  • 00:12:17
    but we still have an ice cold Frozen
  • 00:12:20
    Pine of ice cream wow that's crazy as
  • 00:12:24
    you can see the ice cream canteen stands
  • 00:12:25
    up to the Heat and what that means is
  • 00:12:26
    that now ice cream can be enjoy it at
  • 00:12:28
    the beach at picnics barbecues or
  • 00:12:30
    birthday parties or really anywhere so
  • 00:12:32
    sharks don't let this deal Melt Away
  • 00:12:35
    Jordan I want to ask you a couple
  • 00:12:37
    question first of all I think you're
  • 00:12:39
    solving a huge need this seems genius I
  • 00:12:42
    I love the idea how long will it last
  • 00:12:44
    before it melts and also do you need to
  • 00:12:47
    freeze the container beforehand so the
  • 00:12:50
    ice cream canteen does not need to be uh
  • 00:12:52
    pre-chilled it works a little better if
  • 00:12:53
    you do pre-chill but it's not necessary
  • 00:12:55
    the ice cream canteen will keep it
  • 00:12:56
    frozen for up to four hours on its own
  • 00:12:59
    or if you put it in a cooler with other
  • 00:13:01
    food and drinks it'll work for up to 8
  • 00:13:03
    hours has nobody come up with it before
  • 00:13:05
    no one came up with that before me uh
  • 00:13:06
    that is did they after you here's the
  • 00:13:09
    question the way you said it you said no
  • 00:13:11
    one came up with it before me what did
  • 00:13:14
    they do after you if I came here 2
  • 00:13:17
    months ago I would have been able to say
  • 00:13:19
    I was the very only ice cream canteen on
  • 00:13:21
    the market as of the last 2 months I
  • 00:13:23
    have had two very much inferior but
  • 00:13:26
    similar products come to Market do you
  • 00:13:28
    have a p patent I do so I have a design
  • 00:13:30
    patent that's still pending and I have
  • 00:13:32
    three registered trademarks break down
  • 00:13:34
    the numbers for me tell us what you sell
  • 00:13:35
    them for what they cost you to make I
  • 00:13:38
    sell the ice cream canteen right now for
  • 00:13:39
    $44.99 oh wow and what's your cost to
  • 00:13:42
    make it my landed cost is $7.50 well
  • 00:13:45
    there you go that's good margins if
  • 00:13:46
    you're sell all direct to Consumer no
  • 00:13:48
    not all direct to Consumer I think the
  • 00:13:50
    huge potential here is retail and one of
  • 00:13:53
    my largest Retail Partners right now is
  • 00:13:55
    the ice cream industry so we look across
  • 00:13:57
    the country there's 880,000 000 ice
  • 00:13:59
    cream gelato or frozen yogurt shops in
  • 00:14:02
    the country they all sell pints of ice
  • 00:14:04
    cream but customers cannot take that
  • 00:14:06
    pint of ice cream from the store to
  • 00:14:08
    their home they can't take it from their
  • 00:14:09
    store to the beach Jordan what's your uh
  • 00:14:12
    revenues today uh I sold $98,000 in 2021
  • 00:14:15
    how about this year in this year uh
  • 00:14:17
    sales are going great I've done
  • 00:14:19
    $185,000 a Daye so you should have made
  • 00:14:21
    a boatload of money off of that what
  • 00:14:23
    were your profits I'm netting over 50%
  • 00:14:24
    right now so you've put in 999,000 give
  • 00:14:27
    or take in your pocket already cor yeah
  • 00:14:29
    this year we're expected to do over
  • 00:14:31
    $400,000 in revenue and net over 50%
  • 00:14:34
    that's awesome that's awesome how much
  • 00:14:36
    of your own money have you put into this
  • 00:14:37
    to get started I was
  • 00:14:39
    $155,000 uh in credit card deck and what
  • 00:14:42
    do you need more than anything more than
  • 00:14:44
    anything right now I am Capital
  • 00:14:46
    constrained and I'm having to leave a
  • 00:14:47
    lot of opportunities on the table
  • 00:14:49
    because I don't have the inventory and I
  • 00:14:51
    don't have the money to purchase large
  • 00:14:54
    purchase orders so listen you need
  • 00:14:55
    $100,000 basically for inventory that's
  • 00:14:58
    your problem we don't have enough
  • 00:14:59
    product all right I like this deal it's
  • 00:15:01
    very simple to understand I'll give you
  • 00:15:04
    the $100,000 I want
  • 00:15:06
    30% I think you're worth 2 million bucks
  • 00:15:09
    but I think you've got a really
  • 00:15:10
    interesting idea and as Chef wonderful I
  • 00:15:11
    can blow this up huge for you thank you
  • 00:15:14
    Kevin I appreciate the offer appreciate
  • 00:15:15
    the feedback uh hey let's
  • 00:15:18
    try oh that's what that's what Kevin L
  • 00:15:21
    did to your
  • 00:15:23
    evaluation look I really do feel that
  • 00:15:25
    this business is worth $2 million I've
  • 00:15:27
    done $450,000
  • 00:15:29
    Li sales I like your business right
  • 00:15:32
    advertising I like your business but
  • 00:15:34
    what he knows that we're all going to
  • 00:15:35
    say and why he's doing his slam things
  • 00:15:37
    we were all going to say 5% is not
  • 00:15:38
    enough you knew we were going to say
  • 00:15:40
    that well when it was the last time
  • 00:15:41
    someone came in and said 20% left with
  • 00:15:43
    20% you come in and say 20 you're
  • 00:15:44
    leaving you guys you're right you're
  • 00:15:46
    right as long I've seen the show you got
  • 00:15:49
    be you got to be some you got to be
  • 00:15:50
    somewhat reasonable so so let me let me
  • 00:15:51
    just tell you let me tell but let me
  • 00:15:53
    tell you theis what you going to do well
  • 00:15:54
    let me tell you the thesis really quick
  • 00:15:56
    my thesis really quick all right it's
  • 00:15:57
    not about the amount of money most
  • 00:15:59
    likely you're not only asking for
  • 00:16:00
    funding you're asking for help and it's
  • 00:16:04
    and you're asking for a $2 million
  • 00:16:05
    valuation but we've done this time and
  • 00:16:07
    time again you don't value the
  • 00:16:08
    participation of the shark I understand
  • 00:16:11
    you go low we go high it's just
  • 00:16:12
    frustrating because the the foundation
  • 00:16:14
    of the show when I first started when we
  • 00:16:16
    all first started said banks are not
  • 00:16:18
    loaning money there's no other place to
  • 00:16:21
    go you don't go to someplace and go
  • 00:16:24
    there's no other place to go I'll give
  • 00:16:25
    you
  • 00:16:27
    5% I'm out
  • 00:16:30
    Dam it no thank you I do I really do
  • 00:16:31
    appreciate the feedback Jordan all right
  • 00:16:34
    listen to me I'm very excited about you
  • 00:16:37
    I just want to understand what you're
  • 00:16:39
    looking for if what you need is to grow
  • 00:16:42
    I have the relationships with every
  • 00:16:44
    retailer in the nation and every
  • 00:16:46
    manufacturer in the nation with all of
  • 00:16:48
    them absolutely but if what you need is
  • 00:16:51
    inventory financing then you should go
  • 00:16:53
    to a bank so what is it that you need
  • 00:16:55
    from a shark all right what I would like
  • 00:16:57
    help with from a shark is getting into
  • 00:17:00
    retail distribution I'm looking for a
  • 00:17:01
    strategic partner that understands when
  • 00:17:04
    9 out of 10 households in the United
  • 00:17:05
    States have ice cream in their freezer
  • 00:17:07
    at any given time and they cannot take
  • 00:17:10
    it anywhere I totally get it look at me
  • 00:17:14
    I'm going to I'm going to who do you
  • 00:17:15
    think is best position to help your I
  • 00:17:17
    just want to be able to talk for a
  • 00:17:18
    minute here so I understand your mission
  • 00:17:21
    completely I got it the minute you said
  • 00:17:24
    hello right it's obvious it's very
  • 00:17:27
    intuitive product to me I see this
  • 00:17:29
    everywhere but here's the thing I also
  • 00:17:31
    get I did the deal with frozen farmer I
  • 00:17:33
    know ice cream inside out we're closing
  • 00:17:36
    in on 15 million in sales and that's in
  • 00:17:39
    Just 2 and 1/2 years is there an offer
  • 00:17:41
    in the future knows how to run this
  • 00:17:44
    business for
  • 00:17:45
    you so Mark was talking to me because he
  • 00:17:49
    does also ice Shaker and other products
  • 00:17:52
    yeah we're going to offer you
  • 00:17:56
    $100,000 up front in cash $100,000 ,000
  • 00:17:59
    as a line of credit the two of us as
  • 00:18:01
    partners together but we would like
  • 00:18:05
    25% by the way Jordan that one in the
  • 00:18:08
    low end is five times what you were
  • 00:18:10
    asking for and this is six times but we
  • 00:18:13
    are going to I hear my offer we heard
  • 00:18:16
    you Daniel have an offer get off making
  • 00:18:19
    an offer right now I am making offer I'm
  • 00:18:22
    trying to save myself time cuz he
  • 00:18:26
    wants we heard you for hours
  • 00:18:29
    Daniel was trying to make an off I
  • 00:18:31
    really appreciate your offer and uh
  • 00:18:33
    would you like me to counter now or yes
  • 00:18:34
    please counter now because we may not be
  • 00:18:36
    there when Dani I would like that you
  • 00:18:38
    don't want to hear my
  • 00:18:41
    offer I'm just going to I'm going to
  • 00:18:42
    finish with this one and then I I would
  • 00:18:44
    love to hear your offer how do you think
  • 00:18:45
    that's bad negotiation their offer uh I
  • 00:18:48
    would love to work with both of you so
  • 00:18:49
    thank you very much for the offer uh I
  • 00:18:51
    do believe that this company does have a
  • 00:18:53
    $2 million or close to it valuation let
  • 00:18:56
    me tell you why this year alone where on
  • 00:18:59
    track to do
  • 00:19:00
    $400,000 in sales if I had more
  • 00:19:02
    inventory this year I would have done
  • 00:19:04
    maybe double that so wait think about
  • 00:19:05
    your ownership percentage now think
  • 00:19:07
    about how much money goes into your
  • 00:19:08
    pocket if you want 100% now think 10x
  • 00:19:11
    that yeah and then it doesn't come down
  • 00:19:13
    to the the percentage of ownership it
  • 00:19:15
    comes down to how big you can be that's
  • 00:19:18
    the difference and he's right ask you
  • 00:19:20
    need to do and that's what we can do for
  • 00:19:22
    you exactly can I ask you a question I I
  • 00:19:25
    didn't finish countering goad listen go
  • 00:19:28
    ahead and counter because we may not be
  • 00:19:30
    here that's the problem you know the
  • 00:19:32
    Shar C Jordan Jordan anytime somebody
  • 00:19:35
    makes you offer that you can't refuse
  • 00:19:38
    you need to learn that you can you have
  • 00:19:40
    to wait don't don't let people bully you
  • 00:19:42
    if they have a good offer they're going
  • 00:19:43
    to wait is a good offer but to take one
  • 00:19:46
    step further what I'm doing with the ice
  • 00:19:47
    cream canteen is right now what you're
  • 00:19:49
    seeing is one product but what I'm
  • 00:19:50
    creating is stop selling Jordan we're
  • 00:19:52
    trying to get the offers out you don't
  • 00:19:54
    need I'm trying to justify the $2
  • 00:19:55
    million valuation so the problem Jordan
  • 00:19:57
    is if you wanted to stick to 5 you can't
  • 00:19:59
    I don't to so you have to come back and
  • 00:20:01
    tell us you got to counter or or listen
  • 00:20:03
    to
  • 00:20:04
    him uh will you do it for
  • 00:20:08
    15% what if we threw in $200,000 line of
  • 00:20:11
    credit would you go up to
  • 00:20:14
    20% yeah I definitely think that we are
  • 00:20:18
    worth 20% for
  • 00:20:21
    sure I'll do I'll do
  • 00:20:24
    uh I do want to I'm sorry Daniel I came
  • 00:20:27
    all this way I want to hear your offer
  • 00:20:28
    but I uh you know Daniel owns ice cream
  • 00:20:30
    company can I leave this on the table or
  • 00:20:32
    is
  • 00:20:33
    no
  • 00:20:35
    Jordan anytime in business anytime in
  • 00:20:38
    business this is I'll take your deal hi
  • 00:20:41
    sharks I'm Aaron Krauss from
  • 00:20:43
    Philadelphia and I'm known as the daddy
  • 00:20:45
    of The Scrub Daddy the cutest but most
  • 00:20:47
    Hightech scrubbing tool in the world
  • 00:20:49
    today I'm seeking a $100,000 investment
  • 00:20:52
    in exchange for 10% equity in the scrub
  • 00:20:54
    Dy business it's the greatest kitchen
  • 00:20:56
    scrubbing tool you ever used because
  • 00:20:58
    scrub that it completely changes its
  • 00:21:00
    texture by just adjusting your water
  • 00:21:02
    temperature let me show you how that
  • 00:21:03
    works here we got some hot water here
  • 00:21:06
    I've got some cold water when I imerse
  • 00:21:07
    the scrub that in the hot and cold water
  • 00:21:09
    a complete transformation occurs now to
  • 00:21:12
    show you that I've got 10 lb weights
  • 00:21:14
    here under the 10 lb it's soft and
  • 00:21:16
    compressible and that's like a sponge
  • 00:21:18
    that's for your general scrubbing
  • 00:21:19
    applications but
  • 00:21:20
    here check that out it's hard and firm
  • 00:21:23
    that's going to be for heavy duty
  • 00:21:24
    scrubbing applications we burned on
  • 00:21:26
    Brown and gravy tomato sauce cheese and
  • 00:21:28
    mustard onto a glass stove top and a
  • 00:21:30
    stainless steel pan I'm going to take
  • 00:21:32
    the scrub Dy and you're going to see
  • 00:21:33
    it's just going to attack right into
  • 00:21:34
    that burn on mess scrubbing it right off
  • 00:21:37
    and remember I'm just using water here
  • 00:21:39
    there's no chemicals at all and it's
  • 00:21:40
    going to cut right through
  • 00:21:42
    that it won't scratch any of your
  • 00:21:45
    surfaces but it will clean them
  • 00:21:47
    beautifully now scrub dye is not really
  • 00:21:49
    smiling anymore so I'm going to put them
  • 00:21:50
    here in the warm water and just a couple
  • 00:21:54
    seconds voila he's back to Bright fresh
  • 00:21:58
    and clean every time sharks that's not
  • 00:22:01
    just another smiling face you put it on
  • 00:22:03
    your hand you can get to the bottom and
  • 00:22:05
    clean the sides in one move and that
  • 00:22:08
    smiley mouth that cleans spoons knives
  • 00:22:12
    Forks spatulas even large serving spoons
  • 00:22:14
    on both sides at the same time sharks
  • 00:22:18
    with your help scrub that will be
  • 00:22:19
    scrubbing and smiling in every Kitchen
  • 00:22:22
    in the world woo wow wow Scrub Daddy I
  • 00:22:26
    never witnessed a live in commercial
  • 00:22:28
    that was fantastic that was incredible
  • 00:22:31
    do you have samples I
  • 00:22:33
    do where are you selling this now thank
  • 00:22:36
    you well currently we have it in five
  • 00:22:38
    supermarkets in the Philadelphia area we
  • 00:22:40
    also sell it on our website I've been on
  • 00:22:43
    QVC three times over about 3 months and
  • 00:22:46
    how'd it go fantastic they've invited me
  • 00:22:48
    back over and over and every time I go
  • 00:22:51
    on they reorder 30% more than the last
  • 00:22:53
    time so Scrub Daddy is humming and what
  • 00:22:55
    were your total sales QVC wholesale of
  • 00:22:59
    $100,000 only in 4 months do you have a
  • 00:23:02
    patent on this I actually have a patent
  • 00:23:04
    I have two more pending we have the
  • 00:23:05
    trademark we have domain names okay
  • 00:23:08
    Aaron what do you need the $100,000 for
  • 00:23:10
    what I want to do is set up an
  • 00:23:12
    independent manufacturing facility with
  • 00:23:13
    automated equipment why do you need to
  • 00:23:15
    go into your own facility the biggest
  • 00:23:17
    problem is I'm on their time schedule
  • 00:23:19
    are you saying that you could be making
  • 00:23:20
    more Revenue if you 24/7 making scrub
  • 00:23:23
    daddies the way QVC is going and we're
  • 00:23:25
    just about to launch in a whole bunch of
  • 00:23:26
    stores we're going to need that Capac
  • 00:23:28
    capity and I have 18 years experience
  • 00:23:30
    running a manufacturing plant that runs
  • 00:23:32
    24 hours a day I know exactly what I
  • 00:23:34
    need to do to make this thing really
  • 00:23:36
    efficient and I'm looking to get a
  • 00:23:37
    strategic partner who can open this up
  • 00:23:39
    into the retail stores I'm only in five
  • 00:23:41
    supermarkets that's it what's your cost
  • 00:23:44
    the cost to make one's about a dollar
  • 00:23:46
    what are you selling them for about
  • 00:23:48
    $2.80 wholesale wholesale this needs to
  • 00:23:51
    be in every Supermarket drugstore
  • 00:23:53
    Walgreens expensive Mrs slabinsky goes
  • 00:23:57
    to the store and picks this off the
  • 00:23:58
    shelf and says hey it's a piece of foam
  • 00:24:00
    with a smiley face on it's cost 2 cents
  • 00:24:02
    to make in China that's what she's
  • 00:24:03
    thinking cuz a Brill pad which is
  • 00:24:06
    traditional product is what a 20 20%
  • 00:24:08
    you're comparing it to the lowest end of
  • 00:24:10
    the lowest end you take it up to the
  • 00:24:12
    highest end talk about the the the ones
  • 00:24:14
    like Doby pads or other pads out there
  • 00:24:16
    that are you know brand Nam Daddy I I
  • 00:24:18
    think you've done a great job today but
  • 00:24:20
    I don't know if it's going to work in
  • 00:24:21
    retail I don't I don't buy into that
  • 00:24:23
    Vision just in the
  • 00:24:25
    packaging I just don't know if I see the
  • 00:24:28
    it doesn't sell on a shelf correct but
  • 00:24:31
    if you put it in display shippers which
  • 00:24:33
    we built these beautiful cardboard
  • 00:24:34
    display shippers and it communicates the
  • 00:24:37
    message to every talking endcaps you're
  • 00:24:39
    going to have to pay for those
  • 00:24:41
    things it's hard to get them even if you
  • 00:24:43
    pay for them great job today but I I
  • 00:24:46
    don't see the retail Vision I'm
  • 00:24:50
    out I
  • 00:24:52
    understand I like the product I think
  • 00:24:55
    you you're doing great things you're
  • 00:24:56
    doing it the exact right way but when I
  • 00:24:59
    hear QVC no disrespect to Lori when a
  • 00:25:02
    company's sales are completely dependent
  • 00:25:03
    on QVC that's a disaster waiting to
  • 00:25:06
    happen I've got 3,000 stores lined up
  • 00:25:09
    right now we're going to be in 3,000
  • 00:25:12
    stores I understand but even okay put
  • 00:25:15
    aside QVC you're still a one product
  • 00:25:17
    company right not for long we've got
  • 00:25:19
    scrub mommy we've got scrub baby for
  • 00:25:20
    doing baby bottles I've got a holder
  • 00:25:22
    that sits it on your sink and got drains
  • 00:25:24
    in the legs you don't understand who
  • 00:25:26
    you're dealing with I am I am right I'm
  • 00:25:28
    not doubting the scrub Market I'm not
  • 00:25:30
    doubting you are the Scrub Daddy but I'm
  • 00:25:32
    not a scrub pimp so I'm
  • 00:25:36
    out that hurts Mark I wanted to work
  • 00:25:39
    with you so bad Mark QVC does over 8
  • 00:25:42
    billion in sales a year and I've done
  • 00:25:44
    over 500 million myself yes you have and
  • 00:25:46
    you rotate products in and out of there
  • 00:25:48
    and once those products are out they're
  • 00:25:50
    out how about this
  • 00:25:53
    steal 100,000 for 50%
  • 00:25:58
    [Laughter]
  • 00:26:04
    let's start the bidding
  • 00:26:06
    there all right you're
  • 00:26:09
    out you know I'm somebody who could
  • 00:26:11
    paint any picture and I think that Lori
  • 00:26:13
    is a vicious backstabbing shark that's
  • 00:26:16
    all
  • 00:26:17
    true but sometimes I love her as well
  • 00:26:19
    because she is the QVC Queen so I'm
  • 00:26:23
    offering
  • 00:26:25
    $50,000 for 15% if if you can raise the
  • 00:26:29
    rest from Lori and if she wants to do
  • 00:26:31
    business with
  • 00:26:36
    me well here's the
  • 00:26:51
    thing so I'm offering
  • 00:26:54
    $50,000 for 15% if you can raise the
  • 00:26:58
    rest from Lori and if she wants to do
  • 00:27:00
    business with
  • 00:27:01
    me well here's the thing you've heard me
  • 00:27:05
    say before I can tell instantly if it's
  • 00:27:07
    a hero or a
  • 00:27:10
    zero and I think what you've got here is
  • 00:27:13
    a
  • 00:27:14
    hero no offense demon I don't need
  • 00:27:19
    you you
  • 00:27:20
    don't my offer is
  • 00:27:24
    $100,000 for 30%
  • 00:27:29
    I will get you into infomercial right
  • 00:27:31
    away and I'm pretty confident that we
  • 00:27:34
    could get this into all retail stores
  • 00:27:37
    across the country within literally
  • 00:27:44
    weeks I'll tell you what I'll do for you
  • 00:27:47
    I'll give you $100,000 we'll never agree
  • 00:27:49
    on what percentage I should get I'm
  • 00:27:50
    going to change the model completely
  • 00:27:52
    you're going to keep the whole
  • 00:27:55
    company but I want to be your Finance
  • 00:27:57
    year
  • 00:27:58
    I want you to give me 50 cents on every
  • 00:28:01
    unit sold until I get the 100K back then
  • 00:28:03
    it drops to 10 cents in
  • 00:28:05
    perpetuity he just wants to increase
  • 00:28:07
    your cost of good sold by 50% nothing
  • 00:28:09
    right why give up 30% of your company
  • 00:28:12
    just to sweeten the pot a little bit I'm
  • 00:28:14
    going to give you
  • 00:28:16
    $150,000 put
  • 00:28:21
    25%
  • 00:28:24
    wa what are you going to do I'm changing
  • 00:28:27
    my offer
  • 00:28:29
    actually
  • 00:28:30
    $100,000 but for
  • 00:28:33
    25% the experience the connections
  • 00:28:35
    everything that I have it will be
  • 00:28:38
    successful I am partnered with the best
  • 00:28:40
    of
  • 00:28:41
    them why give up any part of Scrub Daddy
  • 00:28:44
    think of the relationship you have with
  • 00:28:46
    this sponge you're selling this thing
  • 00:28:48
    out and it's going to cry it won't be
  • 00:28:50
    happy anymore QVC infomercial and into
  • 00:28:53
    every single retailer worldwide That's
  • 00:28:56
    The Power of what we can do just by one
  • 00:28:58
    infomercial spot I can get you there
  • 00:29:01
    knows that already we' heard that
  • 00:29:03
    already we've heard that already I want
  • 00:29:05
    the answer to one question all right do
  • 00:29:07
    you think 25% of the equity in your
  • 00:29:10
    company is worth more or less than 10
  • 00:29:13
    cents a unit in perpetuity and he's all
  • 00:29:16
    talk where's he going to take you it
  • 00:29:17
    doesn't matter AB it does matter because
  • 00:29:19
    you take you can you keep 25% of this
  • 00:29:22
    business which may sell 10 million of
  • 00:29:24
    these and you keep it all for yourself
  • 00:29:28
    to be keeping nothing because he doesn't
  • 00:29:29
    know how to get this out you haven't had
  • 00:29:31
    any success you're an idiot you don't
  • 00:29:32
    know what to do I know what to do
  • 00:29:35
    exactly just did a half a billion dollar
  • 00:29:37
    deal with
  • 00:29:38
    Walmart half a billion but that doesn't
  • 00:29:42
    mean anything what product okay I'd like
  • 00:29:44
    to let the speak and it's saying Lori go
  • 00:29:49
    with Kevin Aon they're like children up
  • 00:29:52
    here it's awful let's recap let's recap
  • 00:29:54
    please 150,000 for 25% okay from from
  • 00:29:58
    Damon Kevin $100,000 for no% and a tiny
  • 00:30:03
    tithe of 10 cents you keep all the
  • 00:30:05
    equity Lori is offering you 100,000 for
  • 00:30:11
    25% I offered 150 last time wa hang I
  • 00:30:15
    didn't hear that 100 Lori oh well I
  • 00:30:17
    changed my mind 150,000 for
  • 00:30:20
    25% I'll make you a millionaire within a
  • 00:30:24
    year so mine just went to 175 wa
  • 00:30:29
    he up to 175 yeah mine just went to two
  • 00:30:38
    wa the good news
  • 00:30:41
    is I just made you an extra
  • 00:30:44
    100,000 I'm out I wanted to stick it to
  • 00:30:49
    her
  • 00:30:52
    [Music]
  • 00:30:53
    ouch
  • 00:30:55
    wow I'll drop the 50 cents down to 25
  • 00:30:59
    cents until the 100K is recovered and
  • 00:31:01
    then go to 10
  • 00:31:04
    cents will you go to 5
  • 00:31:07
    Cent 7 and 1 half it's a
  • 00:31:10
    deal okay Aon you've got two offers on
  • 00:31:13
    the
  • 00:31:14
    table what are you going to do you have
  • 00:31:17
    to make up your mind right
  • 00:31:19
    now you don't see the benefit of having
  • 00:31:22
    me as a partner I never said that you
  • 00:31:24
    need to tell me right now whether you're
  • 00:31:26
    going with me or not or or I'm
  • 00:31:30
    out I'm here for
  • 00:31:33
    you I think your deal is awesome um the
  • 00:31:37
    equity amount is is too much would you
  • 00:31:39
    consider coming down to
  • 00:31:45
    20 you know what I will I'll go to 20 we
  • 00:31:49
    got a deal got a deal all right good way
  • 00:31:53
    to go Aaron
  • 00:31:55
    woo congratulations thanks
  • 00:32:00
    hello sharks my name is Josh Thurman I'm
  • 00:32:02
    CEO Chief eruption officer for laab Box
  • 00:32:05
    portable campfires I'm here today
  • 00:32:07
    seeking $200,000 for 10% equity in my
  • 00:32:10
    world saving products sharks humans have
  • 00:32:13
    some Primal desires we can't always
  • 00:32:17
    control very well one of those Primal
  • 00:32:19
    desires is desire to build fires
  • 00:32:21
    specifically campfires now we all love a
  • 00:32:24
    good campfire but the devastation
  • 00:32:26
    created by human CLS wildfire fires is
  • 00:32:28
    heartbreaking and often times totally
  • 00:32:30
    preventable so I set out to create
  • 00:32:32
    something that would be clean easy to
  • 00:32:35
    use and would keep us safe something we
  • 00:32:37
    could drink a beer around or a wine Mr
  • 00:32:39
    Wonderful and tell a great story that's
  • 00:32:41
    why I created lava box now normally we
  • 00:32:44
    would never light lav box indoors this
  • 00:32:46
    is Shark Tank let's fire this baby
  • 00:32:49
    up so lav box is deceptively simple it
  • 00:32:52
    starts with a military style ammo can
  • 00:32:54
    you just pop the top
  • 00:32:57
    put that right there check the propane
  • 00:33:01
    light the lighter that we provide and
  • 00:33:03
    then slowly turn on the gas you guys
  • 00:33:05
    ready
  • 00:33:08
    mhm all right here we
  • 00:33:10
    go a there it is there it is pretty cool
  • 00:33:14
    so it can go from Kumbaya all the way to
  • 00:33:19
    heavy metal fire
  • 00:33:22
    W all right let's turn it down let's
  • 00:33:24
    turn it down all right so about a foot
  • 00:33:26
    out of the box is actually the perfect
  • 00:33:28
    level for roasting marshmallows for
  • 00:33:29
    sores this is also what everybody asked
  • 00:33:32
    me Josh can you cook on it and the
  • 00:33:33
    answer is a resounding you betcha so you
  • 00:33:36
    can lift the lava box up to pass fire
  • 00:33:38
    restrictions
  • 00:33:39
    or you can close up the
  • 00:33:42
    legs pop it on top and now you're ready
  • 00:33:45
    for tailgating burgers at the stadium
  • 00:33:47
    that's cool sharks I think I've created
  • 00:33:49
    the perfect grab and G solution for a
  • 00:33:51
    very modern problem so the question is
  • 00:33:53
    who's going to gather on the lava box
  • 00:33:55
    and get lit with me woo W get live baby
  • 00:34:00
    check out what I've got in front of you
  • 00:34:01
    these are actually custom we do a lot of
  • 00:34:03
    custom
  • 00:34:04
    work it's very Hardy this is actually
  • 00:34:06
    the lightest product on the market right
  • 00:34:08
    now with the biggest fire so in the bag
  • 00:34:11
    is our goodie bag and you get all the
  • 00:34:13
    things you need so you get the actual
  • 00:34:14
    regulator and hose everything but the
  • 00:34:16
    propane everything but the propane so
  • 00:34:18
    you have three sizes so there's like uh
  • 00:34:20
    small medium and large correct and is
  • 00:34:22
    this the small the size that's our small
  • 00:34:24
    one how do they sell what's the most
  • 00:34:26
    popular one that's the most popular and
  • 00:34:28
    it's actually called the T tusum it
  • 00:34:29
    comes with the over under Grill retails
  • 00:34:31
    for $1.95 and it's about $29 landed for
  • 00:34:34
    me so I have a question I mean obviously
  • 00:34:37
    I'm assuming guessing you're a big
  • 00:34:39
    camper but tell us about you what's your
  • 00:34:41
    background and why did you come up with
  • 00:34:43
    this so uh I just left my job a few
  • 00:34:45
    months ago I was H the program director
  • 00:34:47
    at the National Sports Center for the
  • 00:34:48
    disabled and I teach all kinds of sports
  • 00:34:50
    for people with disabilities and uh my
  • 00:34:52
    whole life has been about service so
  • 00:34:54
    yeah I um designed this I sit on the
  • 00:34:56
    board for the Colorado White Association
  • 00:34:58
    we had a camping trip and somebody said
  • 00:35:00
    hey uh I'm a big Tinker I make all kinds
  • 00:35:02
    of cool stuff including adaptive
  • 00:35:03
    equipment they said make something
  • 00:35:05
    that's not so cumbersome something
  • 00:35:06
    that's not massive that I'm going to put
  • 00:35:08
    into a wrap cuz you guys have seen the
  • 00:35:09
    big portable fire pits and the Rocks go
  • 00:35:11
    everywhere it's a big mess I went home I
  • 00:35:13
    built seven prototypes and the Seven was
  • 00:35:15
    the best one put it out on the market I
  • 00:35:16
    sold 40 in a week and I knew I had
  • 00:35:19
    something now we've done now we've done
  • 00:35:21
    what a great example for entrepreneurs
  • 00:35:23
    you know you figure it out you do
  • 00:35:25
    multiple versions of a prototype you
  • 00:35:27
    keep on testing and iterating you put
  • 00:35:30
    them out there and see if people buy
  • 00:35:31
    them I want to hear the numbers we've
  • 00:35:34
    been open for about 18 months a date for
  • 00:35:36
    this year we're about 610 and that's are
  • 00:35:38
    you profitable on that 6 very profitable
  • 00:35:40
    so we're at we're at 290 all right what
  • 00:35:43
    will be your sales this year I think
  • 00:35:44
    we're going to do 1.2 wow are you
  • 00:35:47
    selling only Direct online or are you
  • 00:35:49
    selling through retailers direct
  • 00:35:51
    consumer has been huge for us and and
  • 00:35:53
    actually my spend has been really low I
  • 00:35:55
    think we're it's been all word of mouth
  • 00:35:56
    right all word of mouth and people love
  • 00:35:58
    the product I mean like I went to one
  • 00:35:59
    trade show and we sold $100,000 of the
  • 00:36:01
    stuff yeah so I like it it's simple easy
  • 00:36:04
    to understand and I have millions of
  • 00:36:06
    followers who' be interested in this and
  • 00:36:07
    if Chef wonderful Gets behind this as
  • 00:36:10
    they like to say to the Moon with a
  • 00:36:11
    burger that's what's going to happen I
  • 00:36:13
    like it so I'm going to make you an
  • 00:36:14
    offer but because I'm Chef wonderful
  • 00:36:17
    it's got to be 20% I'll give you the
  • 00:36:19
    200,000 for
  • 00:36:20
    20% thank you Mr I appreciate the offer
  • 00:36:23
    well I I haven't heard what you need
  • 00:36:25
    from the shark is it just theone
  • 00:36:28
    yeah so no I we are totally sold out all
  • 00:36:30
    the time in fact I actually want to get
  • 00:36:32
    into some big boxes I think I I standing
  • 00:36:34
    at Target yesterday really B pro B pro I
  • 00:36:37
    mean Bass Pro they they go crazy for
  • 00:36:39
    they'll go crazy for it Josh just to
  • 00:36:42
    clarify because it's important do you
  • 00:36:43
    have you taken any other money from
  • 00:36:45
    anybody else you no sir actually we
  • 00:36:47
    Revenue positive after eight months
  • 00:36:49
    that's
  • 00:36:51
    amazing thank you I have another
  • 00:36:53
    question tell me what is the most
  • 00:36:56
    important thing to you in a partner I
  • 00:36:58
    think I've done a lot of the heavy
  • 00:37:00
    lifting it's going to be an easy
  • 00:37:01
    partnership on that side I do want
  • 00:37:03
    somebody I can call and say should I
  • 00:37:05
    make this call or should I make this
  • 00:37:06
    call okay I like this product and I like
  • 00:37:08
    the big box idea I think because this
  • 00:37:11
    has hanger appeal you walk in a big box
  • 00:37:13
    generally you have two or three type of
  • 00:37:14
    grills right the egg the this one and
  • 00:37:17
    the that one right and I think this has
  • 00:37:19
    like that moment like wait a minute
  • 00:37:21
    honey I haven't seen this ever I have an
  • 00:37:24
    offer I think this is a licensing play
  • 00:37:26
    Big Box $200,000 and I'll match Kevin's
  • 00:37:32
    20% I'm going to make you an offer okay
  • 00:37:35
    okay I see this I I think you don't need
  • 00:37:37
    to be in a ton of retail stores but Bass
  • 00:37:39
    Pro and camping world I mean it's why
  • 00:37:42
    not um I'm going to make you a little
  • 00:37:44
    bit a different kind of offer um I think
  • 00:37:46
    you have really great margin I will be
  • 00:37:49
    that person there at 11:00 at night or
  • 00:37:51
    whenever 1:00 at Night My entrepreneurs
  • 00:37:53
    they do this they call me All Around the
  • 00:37:54
    Clock I'll give you the 200,000 for 15%
  • 00:37:58
    okay but I would like to get a
  • 00:38:02
    royalty
  • 00:38:04
    of 75 cents per until I'm paid back the
  • 00:38:09
    200 then the royalty will go away okay
  • 00:38:11
    and I'll just have the 15% Equity you
  • 00:38:14
    want 75 cents per unit yes 75 cents for
  • 00:38:17
    your margin seen this whole royalty
  • 00:38:19
    thing look at me 75 cents is nothing to
  • 00:38:23
    to the margins that you have so nothing
  • 00:38:26
    that I don't know why you're doing
  • 00:38:28
    I don't know why but don't let them keep
  • 00:38:30
    talking Josh you're a real deal and you
  • 00:38:32
    have three offers what do you want to
  • 00:38:35
    do Lori would you would you take 12 and
  • 00:38:38
    we'll do we'll keep the
  • 00:38:42
    royalty I would do 12 and a
  • 00:38:44
    [Music]
  • 00:38:47
    half I'll go down to 15% no royalty you
  • 00:38:51
    want a shark that really does this stuff
  • 00:38:53
    because you want to roll out other
  • 00:38:55
    grills I'm an outdoors person like you
  • 00:38:57
    I'll go down
  • 00:38:59
    to% he saying no to you over half a per
  • 00:39:03
    yeah were you saying no to me Mark is
  • 00:39:04
    saying you said make it more interesting
  • 00:39:06
    for you Josh I'll do the 200,000 for 10%
  • 00:39:09
    no royalty hello come on Lor
  • 00:39:14
    step Kevin is this sh tank or let's make
  • 00:39:16
    a deal well here's what I will say
  • 00:39:18
    here's what I will say I think you have
  • 00:39:20
    to go with your gut and you go only one
  • 00:39:23
    Chef wonderful Josh and I offered you
  • 00:39:25
    exactly what you wanted and none of this
  • 00:39:26
    disgusting royalty you want to do a deal
  • 00:39:28
    with a person that never goes camping I
  • 00:39:31
    am Mr Camp
  • 00:39:33
    absolutely well here's the thing I'm
  • 00:39:35
    successful I believe because I trust my
  • 00:39:38
    gut and I go for things with conviction
  • 00:39:40
    I went to the 122% but I hope that you'd
  • 00:39:44
    be that person that knows in your gut if
  • 00:39:46
    I'm the right partner for you not why
  • 00:39:47
    give up extra Equity when you don't have
  • 00:39:49
    to and even pay royalties that's just
  • 00:39:51
    would you do 50 cents so 75 cents is
  • 00:39:55
    really low I'm your girl you want to
  • 00:39:56
    step
  • 00:39:57
    to save pennies don't do it no but I
  • 00:40:00
    know laor you got a deal okay
  • 00:40:03
    good thank you everybody congrats thank
  • 00:40:06
    you very much I like your
  • 00:40:09
    mission you who I wanted sorry
  • 00:40:12
    guys hi sharks my name is Carson crtl
  • 00:40:15
    I'm 11-year-old inventor skater and
  • 00:40:18
    Surfer this is my friend Sierra hi
  • 00:40:20
    sharks hi SAR hi SAR I'm his mom Carrie
  • 00:40:23
    and we're from San Clemente California
  • 00:40:26
    I'm seeking
  • 00:40:27
    $60,000 for 15% of my company you just
  • 00:40:32
    saw my first invention it's called
  • 00:40:33
    Street tubes it lets R surf anywhere
  • 00:40:36
    anytime because it looks and feels like
  • 00:40:38
    you're totally getting tubed my second
  • 00:40:40
    invention was when I first started mid
  • 00:40:42
    school and it was the first time I ever
  • 00:40:44
    had a locker my locker was decked out
  • 00:40:46
    and awesome but none of my skateboards
  • 00:40:48
    would fit in it so I decided what the
  • 00:40:51
    heck why not just make one my own this
  • 00:40:54
    is a locker board Locker boards are hand
  • 00:40:57
    handmade and reshaped from recycled
  • 00:40:59
    skateboard decks at only 16 in long they
  • 00:41:02
    fit easily inside of backpacks and
  • 00:41:04
    lockers and they're good for the planet
  • 00:41:07
    thanks Mom let's pass out some
  • 00:41:10
    samples Rob we get on the board want to
  • 00:41:13
    get on the board thank you great thank
  • 00:41:16
    you oh Carson love the hair thank you
  • 00:41:18
    very cool thank you sharks bye bye good
  • 00:41:22
    job sier bye CeCe great job oh that's
  • 00:41:25
    cool
  • 00:41:29
    sharks the benefit of you investing in
  • 00:41:31
    my company is that you'll be a part of
  • 00:41:33
    something that's been inspiring people
  • 00:41:35
    all over the world I've been surfing
  • 00:41:37
    with sharks since I was 5 years old so
  • 00:41:39
    go ahead hit me with some
  • 00:41:41
    questions nobody a skateboards this big
  • 00:41:44
    is it or uh yes is this the first time
  • 00:41:46
    anyone's ever cut it down to size it's
  • 00:41:48
    the only uh skateboard that fits inside
  • 00:41:50
    a backpack but I've seen small ones
  • 00:41:52
    before what's unique about it uh they're
  • 00:41:55
    good for the planet easy to take any and
  • 00:41:57
    they're super fun to ride and also the
  • 00:41:59
    square shape lets you still do tricks
  • 00:42:02
    cuz of the corners and your feet can
  • 00:42:03
    stay on it and it won't be too wobbly
  • 00:42:05
    where are you getting the old boards
  • 00:42:06
    from uh van skateboards has a monthly
  • 00:42:09
    recycling program for me at two of their
  • 00:42:11
    skate parks and I get about 50 boards a
  • 00:42:13
    month from them and they give them to
  • 00:42:15
    you or right now you you're buying them
  • 00:42:17
    uh give them to me are you selling any
  • 00:42:19
    today for 9 months I have been selling
  • 00:42:22
    all over the country how are you selling
  • 00:42:24
    it across the country online social
  • 00:42:26
    media really he's made $10,000 in
  • 00:42:28
    Revenue since uh he started so Sierra
  • 00:42:31
    your
  • 00:42:33
    [Music]
  • 00:42:35
    girlfriend what kind of look was that
  • 00:42:39
    wow what would you do with the money if
  • 00:42:41
    somebody puts it up manufacturing
  • 00:42:44
    upgrading my website buying uh trck and
  • 00:42:47
    wheels hardware and bulk how many
  • 00:42:50
    skateboards have you sold I have sold
  • 00:42:53
    231 what does it cost you to make one so
  • 00:42:56
    the deck costs me $3 but now Vance put
  • 00:42:59
    me in touch with their manufacturer
  • 00:43:01
    Madrid skateboards so that cost $13 and
  • 00:43:04
    I'm now selling them for $52 wholesale
  • 00:43:06
    wow wholesale wholesale retail what's
  • 00:43:09
    the price um $99 where do you make it
  • 00:43:11
    now my husband set up a shop for him and
  • 00:43:14
    he's been making them in the backyard I
  • 00:43:16
    mean I remember when I started in
  • 00:43:17
    business my Headmaster called me into
  • 00:43:19
    the study and said look you either leave
  • 00:43:21
    school and you run your business or you
  • 00:43:23
    stay at school and you don't run your
  • 00:43:24
    business I was 15 I said okay I'm off I
  • 00:43:27
    dropped out of high school when I was 16
  • 00:43:28
    so I waited an extra year did you really
  • 00:43:30
    drop out of school 16 yeah I was a high
  • 00:43:32
    school dropout did you go to college
  • 00:43:34
    yeah I was 16 dropped out of high school
  • 00:43:35
    started taking graduate level classes
  • 00:43:38
    and got my MBA by the time I was 19
  • 00:43:40
    transferred those back to high school so
  • 00:43:41
    I could graduate from high school I'm
  • 00:43:43
    curious Richard what was your first
  • 00:43:45
    business the first sort of um was the
  • 00:43:47
    start of magazine to campaign against
  • 00:43:50
    the Vietnamese War that was going on so
  • 00:43:52
    it became a national magazine for young
  • 00:43:53
    people and that was my education but
  • 00:43:56
    look this is great uh but you're going
  • 00:43:57
    to stay at school so you're going to
  • 00:43:59
    have to learn to delegate because too
  • 00:44:01
    many people think they can do it all
  • 00:44:03
    themselves so Carson you said that you
  • 00:44:05
    had gotten some help to make these cuz
  • 00:44:06
    you can't make them anymore What's your
  • 00:44:08
    deal with them uh Madrid skateboards and
  • 00:44:11
    they are manufacturing my boards doing
  • 00:44:13
    everything and then I just put the
  • 00:44:15
    trucks and wheels on how do I know
  • 00:44:16
    there's an a Carson in New Jersey doing
  • 00:44:18
    the same thing the main reason skaters
  • 00:44:20
    by product is from brand brand loyalty
  • 00:44:23
    when they so when they go to buy a
  • 00:44:25
    locker board they're going to want a
  • 00:44:26
    locker board not some fake two they're
  • 00:44:28
    really hard to make you have to have all
  • 00:44:30
    the right equipment all the right
  • 00:44:32
    hardware and three I'm in patent pending
  • 00:44:34
    status you kill it drop the
  • 00:44:39
    mic listen you're amazing but I'm not
  • 00:44:44
    going to invest in the company I'm out
  • 00:44:47
    thank you Carson where do you want to be
  • 00:44:49
    a year from now two years from now 5
  • 00:44:51
    years from now I want to
  • 00:44:53
    be
  • 00:44:56
    everywhere that's a lot of places um
  • 00:44:59
    sounds he sounds like one of us what's
  • 00:45:01
    what's been amazing online's great
  • 00:45:03
    because he has much higher profit
  • 00:45:05
    margins but he'd also like to be in
  • 00:45:07
    retailers because it does give him a lot
  • 00:45:08
    of credibility right now he's in a
  • 00:45:10
    Southern California retailer Jack
  • 00:45:11
    surfboards he's in two of their stores
  • 00:45:14
    you know here's what I think I you know
  • 00:45:16
    I would not invest in your company now
  • 00:45:18
    because I think that you have so much
  • 00:45:20
    growth and giving a 15 or 20% of your
  • 00:45:22
    company right now is absolutely absurd
  • 00:45:25
    you have a lot of room to grow and I
  • 00:45:26
    think you'll do it without us so I'm out
  • 00:45:29
    okay Carson I love what you're doing I
  • 00:45:32
    want to make you an offer okay I'll give
  • 00:45:35
    you the $60,000 but I want 20% and my
  • 00:45:38
    plan is not just to help you manufacture
  • 00:45:40
    cuz you have Madrid to do that that
  • 00:45:42
    part's all take care of but to really
  • 00:45:44
    help you build up your YouTube help you
  • 00:45:46
    build up your Instagram so if you want
  • 00:45:48
    to be my partner I'm happy to make the
  • 00:45:50
    investment wow what do you say before he
  • 00:45:54
    answers I I I was going to suggest that
  • 00:45:57
    I was going to suggest that I was going
  • 00:45:58
    to suggest that you and I work together
  • 00:45:59
    on it nope no no all right so what do
  • 00:46:02
    you think you and I work
  • 00:46:05
    together oh I know if he's not going to
  • 00:46:07
    work with me I'll make you an offer I'll
  • 00:46:10
    offer you $65,000 for
  • 00:46:13
    20% for 20% so Carson I'm I'm robt I
  • 00:46:18
    love things that are cool and fun I
  • 00:46:20
    really don't think you should sell any
  • 00:46:22
    of your business at this point because
  • 00:46:24
    it's just too soon I don't want any of
  • 00:46:26
    the equity what I'll do is I'll give you
  • 00:46:28
    the $60,000 as a loan what interest rate
  • 00:46:31
    Robert whatever Back 8% give or take
  • 00:46:34
    right I'm offering $60,000 for 20% and
  • 00:46:38
    Sir Richard Branson is offering
  • 00:46:41
    $65,000 for 20% and we're what would you
  • 00:46:45
    like to
  • 00:46:47
    do uh Richard if you're going to invest
  • 00:46:50
    uh how would you help my company oh
  • 00:46:53
    you're going to interview
  • 00:46:55
    my I like it you got guts going wow when
  • 00:47:02
    you said you wanted to do everything I I
  • 00:47:04
    remember I had this magazine and
  • 00:47:06
    somebody wanted to buy it went to lunch
  • 00:47:08
    to sell the sell the company so I said
  • 00:47:10
    I'm going to start student Airlines I'm
  • 00:47:11
    going to start um you know student
  • 00:47:13
    record shots student this they got
  • 00:47:14
    completely panicked and so when you said
  • 00:47:16
    you wanted to do everything I I remember
  • 00:47:18
    that moment when I wanted to do
  • 00:47:20
    everything let me be honest I see a
  • 00:47:22
    young Richard Branson in you you got a
  • 00:47:25
    wonderful story to tell you're very
  • 00:47:26
    artic
  • 00:47:27
    the product itself is great we'd love
  • 00:47:29
    you to give it a shot with
  • 00:47:32
    [Music]
  • 00:47:36
    us it's a
  • 00:47:40
    deal all
  • 00:47:42
    right great thank you thank you so much
  • 00:47:45
    thank you great thank you good job Caron
  • 00:47:48
    good job Carson good job thank you so
  • 00:47:52
    much yes you know wanting to do
  • 00:47:55
    everything that that really hits home I
  • 00:47:57
    think with all of us it's contradictory
  • 00:48:00
    to of course what everyone's taught I
  • 00:48:01
    mean think about when we started the
  • 00:48:03
    show 9 years ago that's the biggest
  • 00:48:04
    change as I go around the country half
  • 00:48:07
    the people that come up to me are kids
  • 00:48:08
    kids yeah I chose Richard Branson
  • 00:48:11
    because he would help me the most
  • 00:48:13
    internationally right internationally
  • 00:48:15
    yeah and uh also he had the highest
  • 00:48:18
    offer and I felt like make a little bit
  • 00:48:23
    more before you go don't forget to
  • 00:48:26
    subscribe to the Shark Tank Youtube
  • 00:48:28
    channel and click on that notification
  • 00:48:30
    Bell to keep up with everything that's
  • 00:48:32
    bubbling in the tank
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