Shark Tank (2009–…): Season 14, Episode 7 - Episode #14.7 - full transcript
An artisan cheese delivery service; a product line designed to keep cars fresh; a stylish lighting kit for sports equipment; a solution designed to refresh and enhance all shaving needs.
Tonight on "Shark Tank"...
Sharks, it's time to say
Gouda-bye...
No!
To boring gifts.
My dad left
one more thing for us.
What?
A note.
A message beyond
the grave. What?
All we need is someone
to pour gasoline on the fire.
Wrong move, wrong time.
I am very worried
about competition.
I already know that this
market is $11 billion worldwide.
You guys are the real deal.
We're just undercapitalized.
We... We know
what we want to do.
I don't think so.
We've taken it as far as we can.
We're out of money.
Guys. You've been trying
to get in here for 10 years.
And now you have an offer.
Don't blow it.
First in the Tank
is an exciting treat
for special occasions.
Hi, Sharks, I'm Rachel.
And I'm Aaron.
We're from West
Palm Beach, Florida.
And we're here seeking
$300,000 for 5% of our company.
So, Sharks, we've
brought some gifts for you.
And what we've got is w cooler
than these outdated gift baskets
that my granny sends me
out of a mail-order catalog.
And definitely way tastier
than overpriced fruit
shipped to your door.
Now, the dominant players in
the online edible gifting space,
they're gonna ship you a basket
full of chunks of cheese
and chubs of meat
that you have to
laboriously peel, chop up,
and then artistically
present yourself.
Sharks, it's time
to say Gouda-bye...
No!
To boring gifts. Oh.
And revolutionize the edible
online gifting space with...
Boarderie. Boarderie.
Boarderie is the first
company in the world
shipping completely
pre-assembled
catering-quality cheese and
charcuterie boards nationwide.
Our edible works of art are
shipped completely prearranged.
All you have to do
is remove your board
from its perfectly
sealed packaging,
pour the nuts in the
spots where you find them,
and you have a beautiful
chef-quality display
in just minutes. Wow.
So, Sharks, who's ready to make
an un-Brie-lievable investment?
We know it's a lot of cheese.
But we're gonna make
you a lot of cheddar!
Stop the talking.
Start the eating!
So, Sharks, you have
your "Shark-uterie" boards
in front of you. Ah. I got it.
Oh, wow.
That's really tasty.
Oh, wow.
So we have a
small, a medium, and a large.
And one thing to
understand about these
is they're not custom products.
These are made
in an assembly line.
And we can make up to
3,000 of these in any given day.
Wow. So we've created
a new gifting category.
This is amazing. Thank you.
When was this board made?
'Cause it tastes super
fresh. - So fresh.
It's all super fresh. Our
standard is next-day.
So if somebody makes an
order by midnight, the next day,
we make it completely fresh
and then it ships
out that same day
and it gets to the
customer the very next day.
Where's the facility
that you're doing this at?
That we have a 15,000-square-foot
production kitchen
in Florida.
So let's talk about price.
What does this cost?
So the one in front of you
costs us $91 to produce.
We wholesale it to our vendors,
mostly through
e-tailers online for $154,
and it retails for $229,
including shipping.
How did you guys
come up with this?
So I've been in hospitality
and restaurants my entire life,
and while I was
in culinary school,
to make money, I started
a little catering business.
And over the next 15
years, my wife, Julie, and I
built one of the largest
high-end catering companies
in South Florida.
For royalty, for celebrities,
for athletes. Wow.
It was, like, really
a dream come true.
And then the pandemic hit
and it literally, like, stopped.
Oh. It, uh...
So i-it stopped everything,
and so we pivoted.
And that's when we
bet on e-commerce.
We hustled for nine months
and we launched with
a popular online e-tailer
and everything changed.
We went from one
online e-tailer the first year.
Then we launched
with Williams-Sonoma,
and then we launched
with DoorDash.
Last year we did
$1.8 million in sales.
What? Corcoran: Wow!
And then... Wow.
We launched with
Costco in Q3 of this year.
What will sales be this year?
$4 million this year.
Wow. Will you make money?
Yes, we'll be profitable. Yeah.
We'll do $400,000,
is what we believe.
And you don't sell direct
if I want to buy it from you?
We just launched
our website in July.
And how is that working out?
It's been going
really well so far.
We did $30,000 in
sales our first month.
What is your customer
acquisition cost?
Between $40 to
$60 in our first initial
couple of weeks of testing.
And that's really
why we're here.
We want to build
that side of it out
because our biggest frustration
is that we're selling
through e-tailers,
so we don't own any of
our own customer data.
So we get a huge rush of
sales in Q4. Right. Smart.
And then we can't remarket to
those customers Q1 through Q3. Right.
And we see that there's so
much demand for the product.
Rachel, were you working
in the catering business?
Is that how you guys met? No.
So, when the pandemic
hit and work went remote,
my fiancé and I decided
to move down to Florida
to quarantine with my family.
Aaron had started
delivering these boards
for local delivery in our area.
So you were a customer
first? I was customer, yeah.
And I fell in love with
the concept from ordering.
And Aaron and I got
to know each other,
and we would talk
about this vision he had.
I believed in him since
the minute I met him.
Are you partners
50/50? We're partners.
We own 75% together,
and we have one outside
partner. Who's the other 25%?
How much has he
invested so far? $750,000.
- Wow. -$750,000?
- Wow.
Yep, and he helped us build
out the entire production facility.
Now, there are five
giant competitors
that sell baskets
and gifted items. Yep.
Couldn't they simply
do this themselves?
Why... Why... That's
a great question.
Why is this proprietary?
It's a great question.
And when we started, we
were worried about that.
But what we're doing is so
different than pick and packing. Mm.
Our facility is built-to-suit
for this type of production.
That's kind of our secret sauce.
And that's our secret
sauce, so, you know.
Of, like, how we're able
to do 3,000 of these a day.
How much money
did you guys put in?
My wife and I did a $300,000
home equity line of credit.
We also put in another
$150,000 SBA loan,
and then another
$100,000 line of credit
against the catering business.
And, Rachel, did
you put money in?
I put in $750,000 for
the build-out of the facility
Wow! Cuban: Wait, wait, wait.
How much have
you invested in total?
Around $2 million
total. - Oh!
- Wow!
- Wow.
Man, that's commitment.
And we can do $70-million plus
out of this one facility. Yep.
Rachel, I couldn't be more
impressed with the two of you.
Thank you. But...
$300,000 for 5%...
I just don't think the
amount of equity...
We're doing $4
million this year.
And $8 million next year. I'm with
you 100%, and I-I just don't like to be
a small minority
shareholder like that.
Now, I'm gonna clear the deck,
make room for the other Sharks.
You can have as much
cheese as you want. Yeah.
I'm out.
So, guys, I think what
you've done is phenomenal, right?
You deserve a ton
of credit, you pivot,
you showed agility, curiosity
to go into a new space.
I just think this is replicable.
To Kevin's point,
those big company...
They're not stupid.
They know that it's
in their best interest
to keep you from
building that brand.
I'm not saying you can't do it,
I just don't think the economics
work for me as an investor.
So for those reasons, I'm out.
Thank you, Mark. We
understand. Okay, thanks, Mark.
I know this space inside out.
I am very worried
about competition
because I... I fought
them for years.
They built big businesses,
and they have really good
customer acquisition cost.
So my offer is gonna
reflect the risk I see.
But also I bring to the table a
brand called Chef Wonderful
that's been very successful.
And I think I could get
behind this product for you.
I'll give you the $300,000.
I want 17.5% equity.
Wow.
What do you need the money for?
We think we're gonna do
$2 million just in December,
and we need all the
available capital we can get
to put into inventory.
And this will help us
to be able to run our
direct-to-consumer strategy.
I have an offer.
I think you're gonna
need a lot more cash.
You probably don't
even need a partner.
You probably need
a good credit line.
But I'll give you both.
I'll give you $300,000 cash
plus $300,000 credit line,
but I'd like 15%
of the business.
Is that undercutting
this guy here?
Yeah. A little. Good.
15%. Thank you, Barbara.
That's an awesome offer.
Thank you for the offer.
I'm gonna make it really simple.
Um...
Two Sharks are out.
Rachel and Aaron have
two offers on the table
for their charcuterie board
delivery company, Boarderie.
And Lori might be interested.
I'll give you 300,000 for 13%.
13%?
Lucky number 13.
You have three
offers. - Yes.
What would you like to do?
Our most important thing to us
is launching our
direct-to-consumer strategy.
And, so, whoever has the
most expertise in that space...
That's right here.
No, it's not. No one's done what
I've done direct-to-consumer...
in consumable
gifting. That's not true.
Nobody.
You want to sell this one day
to Hickory Farms
or somebody else.
That's how this works.
I know how to get there.
These two don't.
Well, I've sold
over 2,000 products
over 20 years
direct-to-consumer.
I don't think I agree.
That doesn't count, Lori.
I don't think I agree
with what Kevin's saying.
I've done every product
category there is.
Guys, pick... pick a Shark, pick
an offer. You gotta pick a Shark.
- Okay. Okay.
- Or counter.
Okay, you say it. Okay.
Okay. She's gonna
say it 'cause I am...
As you can see, I'm sensitive
and I hate to hurt
people's feelings.
Aww.
Okay.
Lori, would you do it for 8%?
Oh, you guys.
We've already
invested so much in this.
We've got the whole
production process down.
All we need is someone
to pour gasoline on the fire.
Well, let me tell you this.
And Mark says this all the time.
Say it, Mark.
40% of a watermelon is
better than 100% of a grape.
You know? So here's the thing.
If I blow you up and you're
making fantastic sales,
then you're going to be
thanking me and saying,
"Oh, I don't care about
those of your points."
So I'm gonna stay
at 13%, you guys.
It's time to decide.
Would you do it at 10%?
You... We don't
need a lot. I mean...
I will do it at 12%.
You know what, guys?
I would do it at 10%.
Wow. I would do it at 10%
because the best
deals we've all ever done
are the least needy
entrepreneurs.
Where they just call with
questions... - Yeah.
Mm... and they
just want the support
maybe an introduction, a
line of credit... Look at me.
I'll do it for 9%.
He just did that to get me down.
He's such a...
He's such a... Ugh!
9%?
9%.
You got a deal! You got a deal!
I get free boards now.
I get free boards forever.
I'm going to kill you, Mark.
Oh!
Spread the
cheese! Spread the cheese!
You're welcome, guys.
Great job, guys. Thank you.
Cheese for life. For life!
This is so cool!
That was amazing!
Yeah!
We love Lori.
We think she's the
perfect partner for us.
She reaches all
of our customers,
and she was really
passionate about the product.
And I think that's
what matters most.
We need somebody who's
gonna help us spread the cheese,
and she's the perfect partner.
Mark!
You did it for that reason. I know it!
'Cause I knew they weren't gonna do 13%.
I'm a sucker! I knew there was
no way they were gonna do 13%.
Lori, don't complain.
I loved your whole speech,
how you were staying at
13%, and then you went to 9%.
'Cause of
In Season 13,
we watched Mika Bertholdo
make a deal with Emma Grede
for her one-of-a-kind
headband company, Ooakshell.
We're gonna actually
try to build a proper company.
It's $150,000 for 20%.
Let's see what she's up to now.
Before "Shark Tank,"
I was living with my husband
and my two kids with my mother,
and we were running all
operations from her house.
I was doing all of the sourcing,
sewing, dyeing, packaging,
marketing 20 hours
a day, 7 days a week.
Since "Shark Tank," I
moved out of my mom's house
into a beautiful new home.
I have a full-time
manufacturer in Dallas,
that does all of
my sewing for me.
And I upgraded from
my mom's garage
into a 1,500-square-foot
warehouse and office.
And I even have an assistant.
She does 90% of
all the packaging.
Since "Shark Tank," Ooakshell
has made $375,000 in sales.
You can double the
amount of inventory
that you're putting
out in the world
if you just get a
little bit of help,
especially when it
comes to production.
Emma has been as hands
on as any Shark could be.
I had a crash course at her
Good American headquarters
in finance, marketing,
fashion merchandising...
This little
hit with the branding,
that makes a big difference.
I learned more than I have
in all my four years at college.
I'm so, so excited.
This is just the
beginning. I know!
As a first generation American,
it was really hard to feel like I
was disappointing my parents
when I wasn't following their
dreams to become a doctor.
So, when my mom first told
me she was proud of me, um...
it was amazing.
Kind of made it seem like
this is a business, this is real,
and this is success.
Being on "Shark Tank"
has changed my life.
I get to spend time with
my family and my kids.
And I have an amazing
mentor who's there for me
any time I need and it's
really helped Ooakshell.
And is going to continue
to help Ooakshell grow.
Next into the Tank
is a modern version of
a stale car accessory.
Hey, Sharks, I'm Trey Brown.
And I'm Don Brown.
We're two brothers
from Los Angeles
seeking a $200,000 investment
for 5% of our company.
Wow. Imagine a
peaceful day on the road.
Wind blowing, sun shining.
You're bumpin'
your favorite track,
cruising down the back
streets, just catching a vibe.
But then that
smell hits you. Oof!
A nearby landfill.
Spilled coffee.
Even forgotten French
fries can turn your car
from an oasis into a
horrible, stinky nightmare.
For years, the
problem of a stinky ride
has been solved
by a series of ugly
and un-stylish air fresheners.
So we created Ride FRSH,
the world's flyest
air freshener brand.
I know you guys are
probably wondering
"Why paper air freshener?"
When you do a little
"sniffing around,"
you'll figure out that
it's an untapped market.
At Ride FRSH,
we offer a subscription-based
car air-freshener brand
with unique scents and designs
that will be sure to blow
you... And your customer's...
minds! ...minds!
We have amazing
scents like Woodgrain.
Wow!
Eucalyptus. I
love this one, bro. Nice.
And even your favorite
basketball teams.
This one smells like winning.
Sorry, Mark.
The reality is, is that
paper air fresheners
have had no
innovation in far too long.
And they smell whack.
Hey, bro. What's up?
I think I'm smelling a deal.
With the help of the Sharks,
we can make Ride FRSH...
- Explode!
- Ahh!
- Whoa!
- Wow!
God!
So, Sharks, in front of you
you'll find... Calm down. Calm down.
A series of our
Ride FRSH scents.
Please feel free to crack
them open and enjoy.
Wow.
Wow. After that?
We can't even function.
Mark, are you okay?
You're kind of still over there.
Ooh, you know what's... you
know what's... Dumbest marketing move ever.
I'm out.
- What? -That's it?
- Seriously.
That's
mean. Seriously.
You gotta read your room.
Wrong move, wrong time.
What are you upset
about? Yeah. Why?
Yeah. Why do you think?
The one air freshener
from the NBA
is the team that beats us in
the NBA conference finals.
Gotta know that that
could backfire. Oh, Mark.
You're a bigger man
than that. Cut it out.
Yeah, I could be, but I'm not.
Wow.
Here's one thing I'll shout out.
Before I even opened them,
I picked them up and I
could smell the scents.
I was like, wow.
These are obviously
packed with the fragrance.
So we pride ourselves on having
some traditional scents,
some nontraditional scents.
But our entire approach
and our entire brand
is adding a cool factor
to the air freshener
and changing the experience.
Do you sell any
of this stuff in retail,
or is it all subscription
direct-to-consumer online?
So we built our business off
of direct-to-consumer online.
We proved the concept to the
tune of over $1.1 million in sales.
And then... -What?
- What?
Yep. Thank you. Thank you. $1.1
million sales in how much time?
What period of
time did you do that?
- In three years.
- Three years. -Wow.
Let's talk
about one year, this year.
What are you gonna
do in this year in sales?
This year, we're gonna
do over $750,000.
Good for you. But to
answer your original question,
Mr. Wonderful,
we've always known
that the subscription
was the first phase of
our building our business,
but the main potential and
the biggest potential for us
is in retail and
wholesale, right?
Would you say that?
Have you proven that?
Or have you just started
down that alleyway?
Well, gas
stations, things like that,
things where it's
intuitive to pick this up.
Exactly. So just in
the last six months,
we've been able to get to the
final stages of an agreement
with the largest automotive
retailer in the country.
What's the deal for?
2,000 stores. 2,000 locations.
2,000 of their 6,000 locations.
In other words, they're
gonna order from you
how many dollars of merchandise?
$2.1 million.
Wow. In 2023.
So it's like Pep Boys, that kind
of thing? Yeah, it's AutoZone.
What did you sell last year?
Last year, we sold $540,000.
And out of that
$540,000, was any retail,
or was it all
subscription-based?
All subscription.
All subscription.
Why does somebody buy a
subscription model... Right.
For an air freshener
for their car?
Right. Yeah. So it's the
convenience factor, right?
Think rideshare drivers,
taxi drivers, these
types of individuals.
If I started with you,
how long before I cancel?
About four months.
And how much is a subscription?
They range.
So the base one is
you get two a month
and we have them in pairs,
and that's $8.25 with shipping.
And then the highest
one... Per month?
Yeah. And the
highest one is $10.99.
So 38 cents is our cost landed.
Out of the $540,000
you did last year... Mm-hmm.
Were you profitable?
Yes. Yes. What did you make?
$40,000 in profit.
$40,000.
What were you guys
doing before this?
What got you here?
We're... We're brothers.
We're lifelong entrepreneurs.
In 2014, we actually
launched the first mobile app
for black and brown emojis
before they kind of
diversified the set.
My brother has a
successful career in sales,
and I was at a couple different
ad agencies in my career.
We both went to
Howard University,
the Howard University. Yep.
I then came to Los Angeles
and then I got my masters at USC
in Entrepreneurship Innovation,
and as well as certified in
technology commercialization.
I remember walking
down the street
and seeing all these air
fresheners everywhere
in everybody's car, and
I was like, well, listen,
if we put some culture
and style on top of this thing,
I already know that this
market is $11 billion worldwide
and in the United
States, it's $300 million.
So yeah, we could
definitely do this
because there's nobody really
doing a subscription model.
That's the most interesting
thing you've said in this pitch.
The air freshener market is $300
million? Yeah, that's interesting.
In... In the United States. Greiner:
Listen, I know a lot about fragrance.
This is very male-skewed.
I think you need
work here in that
I think you need to have
an entire female-based line
'cause I-I wouldn't hang
this shape in my car.
It's not the right
investment for me,
but I wish you good
luck. Thank you.
Thank you so much. I'm out.
You guys are the real deal.
I've been trying to get my
head around investing in you.
When I was younger,
my mom and dad put me
in the back of a car
with a million suitcases
and everything.
I had to sit in the
back for 24 hours.
No big deal. You were a little kid.
'Cause my dad refused to pay for a motel,
so we had to drive from
Toronto all the way to Florida.
All I could see was
the air freshener.
It is scorched into my brain.
As soon as I see
air fresheners, I think,
Aah! I never want
to go back there.
I'm sorry. I can't
be in. I'm out.
Fair enough. Fair
enough. Thank you.
But let me tell
you where I'm stuck at.
The numbers, okay?
No one's brought this up
yet and I don't know why.
$200,000 for 5%... Yeah.
Imputes a $4 million
valuation on a business
that makes no money.
Yeah. This is a business
model not yet fine-tuned.
I'm out.
- Thank you, Mr. Wonderful.
- You know, uh...
I think you need
to be congratulated
for producing $700,000 in sales.
It's amazing. Online.
Amazing. Why you're pivoting,
that you're going into retail...
I think you're out of your mind.
I don't think you realize
how cash intensive it is.
Why did you pivot
to retail? I'm curious.
Because that was... that
was always the plan, right?
And in the last
year, the main way
that we were able to
grow the subscriptions
and acquire those subscribers
became a lot more expensive.
You were losing hard on
your subscription model
because the numbers had changed.
Yes, but we were
always gonna focus
on growing the business
through retail and wholesale.
All right. So I'm going
to make you an offer
contingent on your big deals.
Okay. Okay, I'll
take a flier on this
because I believe
in the two of you.
So, I'll make you the offer
of, of course, the $200,000,
but I do want 25%
of the business.
Whoa. That smells a lot.
Let me... Can I
ask you a question?
Yes. Of course.
Are there other ways
that you can help us
in terms of a
strategic partnership
in exchange for maybe
15% for the 200K?
I would have to say
15%... definitely not.
I think this is gonna be
a lot of work to sell this.
200K for 20%?
What? For 20%?
Contingent on
those two big deals?
Contingent on those
two deals. Mm-hmm.
You got it. Okay. Cool.
Thank you. Thank you.
Good one, guys.
Thank you. Thank you, guys.
Thank you, Sharks. You
better not lose my money.
Thank you so much. My
pleasure, really. Thank you.
Bye-bye. Thank you, Barbara.
Terrific. You did a great job.
We appreciate it. Thank you.
And sorry, again. We... Sorry.
It's all good. It's all good.
- Congrats, guys.
- Nice job!
I think Barbara
saw a true entrepreneur's
grit, grind, tenacity.
We're already trending upwards
with these major retail
and wholesale deals
that Trey's been able to secure.
And having Barbara
on board just means that
we're gonna have more
resources and more abilities
to scale this business
all the way to the top.
Next up is a product
designed to light
up action sports.
Hey, Sharks I'm Dakota Porter.
And I'm Garret Porter.
We're from Traverse
City, Michigan.
And today we're seeking $200,000
in exchange for 15% equity
of our company Action Glow.
Now, we're action sport junkies,
and we've been snowboarding
since before we could even walk.
As teenagers, we practically
lived out on the slopes.
And because the sun always
set so early in the winter,
a lot of our snowboarding
was typically done at night.
And sure, they've
got big spotlights,
but when that sun goes down
the atmosphere
becomes miserably...
Boring. Boring.
But one night we
decided to change it
and created Action Glow.
Action Glow is an aftermarket
LED lighting system
for sporting equipment.
It allows riders to
express their personal style
while also adding
an element of safety.
Over the last few years,
professional athletes
and action sport
enthusiasts worldwide
have been turning to Action Glow
for their night
riding adventures.
We currently offer eight
different applications,
ranging from
snowboards to surfboards.
And the best part is,
our systems can be
applied in just 5 minutes
to any brand of
sporting equipment.
We are excited to bring
a product into the Tank
that shines brighter
than Mr. Wonderful head.
Bam!
Sharks, we've been dreaming
of pitching to you guys
since we were kids.
Take a look.
Hi, we're the Porter brothers,
and we live in
Traverse City, Michigan.
I'm Dakota Porter, aged 16.
And I'm Garret Porter, aged 13.
Together, we created a business,
45th Parallel Lighting,
in which we have
a patent pending
for our product Action Glow.
Dakota Porter, aged 18.
And I'm Garret Porter, aged 15.
We need the Sharks help...
To light up your score.
Oh, my God, that is the
best video! Thank you, guys. Thank you.
So you guys applied
all those years?
We grew up watching the show.
And now, yeah.
Season 14, here we are.
Good job. Wow.
You haven't had your business
that long, though, have you?
So we filed for our LLC in 2012.
So we actually just celebrated
10 years in business this year.
Wow. You've been in
business for 10 years?
10 years. That's crazy.
In 2016, our full utility
patent was issued
for decorative lighting
systems... Oh, really?
For sporting equipment.
Is it one color, or
can I change colors?
So right now, um, our
systems are one color,
so there's static colors.
And that's kind of
why we're here today.
So we have developed a
second generation product
called Action Glow2.
Right now we're
sitting at 40 SKUs.
And so that drops
it from 40 to 8.
What is the cost go up
to get the multi-LED color?
Yeah, so the cost will
only go up a little bit.
So our current... the
current price for our product
ranges from $49 for,
like, the skateboard
to $124 for an SUP
board or a kayak,
which is obviously
a little bit bigger.
What does it costs
you? $49 to sell...
What does it cost
you to make that? $15.
Talk... Talk about
your total sales?
Lifetime sales are $130,000
of hand-assembled
Action Glow units,
and almost half of that has
come in the last two years alone
when Dakota and I
have graduated college
and we had more time to
focus on selling our product.
You were saying what your
sales were the last two years alone.
What were they?
Yeah, so, in 2021 we
did $32,000 in sales
and this year we're at $22,000,
but we haven't hit
our biggest quarter yet.
And our biggest
quarter was obviously Q4
for the holiday season.
We expect about 40%
to 50% of our sales
to come in Q4 alone.
How are you selling it?
Yeah, Right now
it's all word-of-mouth.
We've done no marketing.
None? No social
media for guys like you?
Yeah, why not?
So, social media, yeah.
So we've... we've had
social media accounts.
They're saying you haven't
spent any money on marketing,
only social media
driving word-of-mouth.
We're getting
the orders right now
that Dakota and I
can keep up with.
Because every
time we get an order,
we have to go make
it, literally assemble it,
package it up, and ship it out.
So we're extremely worried
if we have a TikTok
video go viral, or...
You can't keep up with it.
We won't be able to keep up.
I've never met anyone
who doesn't want a TikTok
to go viral who's
in business. Yeah.
I think you're crazy.
Guys, I-I've been
in this market before
with a product
called Illumibowl.
It was five or six years ago,
and it was wildly successful.
And the bigger it got, the
more knockoffs came out.
But we kept... kept innovating,
kept innovating, innovating,
and knockoffs,
knockoffs, knockoffs...
Nothing proprietary here.
I mean, maybe you think this patent's
Yeah, it is. They have a patent.
Yeah. Yeah.
We have a fully...
What I learned, the patent,
you have to actually protect.
And we would... We
were suing people like
Whac-A-Mole out there.
I think the product is great,
but the problems
ahead are great, too.
I'm out.
Thank you, Kevin. Thank you.
Listen, you guys,
I think that you're fabulous.
But you're very,
very small right now.
It's not an investment for me.
I wish you good
luck, but I'm out.
Thank you so much.
Thank you so much.
Guys, you're
on an amazing journey.
It's just really a tough
business for an investment.
I mean, you gotta run it
the way you wanna run it.
And I understand
there's some shortcuts
by having a Shark
to help... Right.
But the way you've
been doing it is perfect.
I think you guys
will do great things.
It's just not a fit for me. So
for those reasons, I'm out.
Thanks, Mark.
Congratulations, guys.
Thanks, Mark.
You have a whole
club of people adoring you, I'm sure.
Wherever you go, right?
And I can't figure out
why you haven't sold more.
The only answer
I can give myself
is you haven't
done social media.
It took you 10 years with
this amount of sales. Right.
I'm not impressed with.
I know you've put
in all the effort. Sure.
And I know you're the
walking, talking example
of a young entrepreneur.
I'm not taking away from that,
but something's wrong.
I mean, it's a cool product.
You're the right
spokespeople for it.
The biggest thing is
we're just undercapitalized.
We... We know
what we want to do.
I don't think so.
There's a lot of young
businesses that have
long waiting lists of customers
who are willing to wait
'cause they're in
love with the product.
So I wish you luck.
I'm sure you'll do well.
But I'm out.
Thank you, Barbara.
I'm impressed with it.
You know, I think it takes
us all back to our young days.
We're projected in
year one of Action Glow2
to do $430,000.
How do I know you're
gonna sell that amount?
I've been where you want to go.
I've built the size of
companies you want to build.
You just got to do it with a
little more discipline, right?
'Cause high-energy
people tend to be like,
"Ahh! Squirrel," right?
That's true.
That's what I'm here for.
Dakota's that high-energy
person. That's me, yeah.
And I'm here to reel him in.
I think you need
a little discipline.
You're asking for $200,000?
Yeah. Yes, correct.
How much of the
business do I own
for it to be interesting
for me and...
Robert, let me guess... it's
gonna be more than 15%.
Wow. It's like you have
a crystal ball, Kevin. Yes.
All right, guys. It's an
investment in you guys.
A lot of stuff to figure out.
Sure.
I'll give you the
$200,000 for 30%.
I knew he was gonna say that.
This is... First off,
this is incredible.
And thank you so
much. Yeah. Thank you.
Robert, will you be
willing to do 20%?
No, no. No. $200,000 for 20%?
How about 25%? No.
Could you see yourself
getting to 25%? No. No.
Guys, you've been trying
to get in here for 10 years,
and now you have an offer.
Don't blow it.
Okay.
What is going on?
Robert, it's time to hop on
board, Robert. Oh, yeah, baby!
We've got a deal!
Guys. Hey, thank you so much.
- Oh, my God. Thank you.
- Congratulations, guys.
Congrats, guys.
Can I keep the board?
You can keep the board! It's yours!
Yes! Keep the board. It's yours!
Congrats, guys.
Oh, my God.
We've been waiting 10
years to get into the Tank,
and we just made a deal
with our dream Shark, Robert.
We couldn't be any more excited,
and we hope that our
story and dedication
inspires the next generation
of young entrepreneurs.
Next into the Tank
is an innovation to a
classic grooming ritual.
Hi, Sharks. My
name is Mike Gutow.
I am from Metro
Detroit, Michigan,
and I'm seeking a
$300,000 investment
for 10% equity of a company
that has patented technology
that is set to disrupt a $50
billion a year global industry.
Sharks, I'm talking about
the shaving industry.
So what's the
problem with shaving?
Well, see, we put
shaving cream on like this,
you're doing the adverse
thing you should be doing.
I'm not exfoliating my skin.
I'm closing the
pores of my face up,
and I'm actually matting
my hair follicles down.
Now, I'm gonna go to
run my raise over my face,
I end up ripping and
pulling my hairs out,
which gives me the razor
bumps and burns we all hate.
Not only that, look at the
mess and the waste this creates!
More than half the
product I don't even use
gets washed down the drain.
But this is not how
Grandpa shaved.
You see, with all
the advancements
in the shaving industry,
the one thing that
has been overlooked
has been this shave brush.
But we don't have
time for this anymore.
This is why we
created Legacy Shave,
the world's first
universal patented
shave brush and
dispenser all in one.
This is a modern shave
brush for modern times.
Watch how quick
and easy this is.
One small pump, the product
comes right through the brush.
Oh, wow. This little bit.
This is all you need.
Now you apply it
to your face or body.
You're doing exactly
what you should be doing.
I'm exfoliating my skin.
I'm cleaning out
the pores in my face.
I'm stimulating
my hair follicles,
sticking them out and up.
Now when I go to run
the razor on my face,
I get the cleanest,
closest shave possible.
Goodbye razor bumps and burns,
and goodbye mess and waste.
Great job.
But here's the
amazing part, Sharks.
Legacy Shave fits every
single manufacturer out there.
Doesn't matter make or
model. - Oh, wow.
Oh. Men or
women's, foam or gel cans.
Even down to the travel sizes.
- Very good. -Wow.
- It fits them all.
Sharks, I ask you...
who wants to use your legacy
and join team Legacy Shave
and let's disrupt the
$50 billion a year industry
together?
Let's go!
Let's go!
- Whoo!
- Let's hear it for Mike!
Best presentation
ever, Mike. Wow.
How does it work, Mike?
Do a couple small, gentle pumps.
Yeah, there you
go. A lot comes out.
Yeah, a-a little bit, Robert
Perfect. That's all you need.
Oh, this is good shaving cream.
It's amazing shaving cream.
It's clean ingredients
infused very heavy with aloe.
What do you sell it for?
We sell that for $24.95.
What does it cost you to make?
It cost me $5.39 to make.
Just a brush we sell for $19.95.
How did you come up with this?
28 years ago,
we gave my dad a
gift for Father's Day
that we thought he would love.
See, my dad was a daily shaver,
and he always complained
about how his electric razor
would always give him
razor bumps or burns.
So my brother and I got
him a really expensive,
old-fashioned shave brush,
and he just looks at us and
goes, "You know what, guys?
I'm not gonna be
able to use this.
It's just not for me. I
don't have time for this."
Well, crushed and devastated,
my brother and I were like,
this got to be a different
way. So the idea came up...
Well, why don't you
just put a brush on that,
and now you have a shave brush?
We ran to the hardware store.
My dad picked a big clay putty
that you could mold
and form and shape,
and a disposable paint brush.
Next day, we wake up.
My dad just comes
strutting down the aisle,
smiling ear to
ear, just like that.
And we're like, "What
are you so happy for?
You're never happy in
a morning."
He goes, "Don't you two
knuckleheads remember
the shave brush we
invented yesterday?
Well, it worked! It's awesome!
I never had a better
shave." That's great.
So my dad, he knew a
plastic injection molder.
Four months later, we
get 20 prototypes back.
And this is where things kind of
took a turn for
the worst, Sharks.
Fear.
And it's been
documented several times,
that people have
ideas and inventions
that they spend money,
patents to protect it,
their whole entire
life savings to bring up
with a new idea and concept
only to have the bigger
companies rip them off.
And it's basically
David vs. Goliath.
And we sat there in fear,
and that's basically
where it sat
for literally 20 years, Sharks.
Unfortunately, my dad
passed away from cancer.
Sorry.
Years after my dad passed away,
my brother and I go
down to his basement
and there sits my
dad's workbench.
I open up those
boxes, and, Sharks,
remember I told you
we only thought we had
20 or 30 prototypes?
Well, they're sat 3,000...
What?!
Of our original prototypes
from 28 years ago...
Oh, my God... that my
dad had sat and assembled
during his chemo treatment
time to keep himself busy.
Wow. He knew we
would eventually see this.
And, Sharks, he left
one more thing for us.
What? A note.
A message beyond the grave.
That said, "Don't wait.
Life's short. Take the shot."
Wow. Wow.
It was at that point in time,
my brother and I just
looked at ourselves
and said, "We have to do this."
And what is the difference now
that was different
from 28 years ago?
There's a very
popular show on TV
that gave entrepreneurs a chance
to showcase their products
to millions of people.
What show is that?
It's "Shark Tank"!
And... And it was because
the show is out there,
my brother and I got the
courage to say, "You know what?
This gives David
versus Goliath a chance."
You guys are a rock.
And the last thing
that we wanted to do
is to be on our deathbeds
wondering "What if?"
And, so, that's when
the process started.
I understand now why
you called it Legacy Shave.
Yes. Yes. Great call.
What a great legacy.
But let's get back
into the business.
What are your sales
for this product?
To date, we sold
over 100,000 units
and did over $1
million in sales.
100,000 units. 100,000 units.
$1 million dollars. And that's
over what period of time?
Five... Five years.
Give us the sales
over the last five years.
Year by year.
Year one, we did about $70,000.
Did you make any
money that year?
We have not. Okay, year two.
In fact, we've been in the
red every single year, Sharks.
Year two?
$370,000.
Year three, we
did about $390,000.
Last year, what were the
sales last year? - Okay.
Last year was close to $96,000.
And what will they be this year?
So far, we've done $42,000.
But we do have a
purchase order for $63,000.
The trend is not your friend,
Mike. What's going on?
Here... Here... $390,000,
then they start dropping. Why?
We're a family, bootstrap,
start-up company.
We've taken it as far as we can.
We're out of money.
How much have you
lost over the five years?
To date, as a family, we
have personally invested
over $400,000 into this
business.
And, Sharks, we really try to
be a direct-to-consumer product.
However, my brother and I,
you know, we're trying our best.
We're not geniuses behind
us, and money's tight.
Mike, Mike, let me just
interrupt you just for a moment.
My large concern with you is
you're a phenomenal salesman,
but you're not a
clear communicator.
You're all over the map.
And I don't think
we'd be great partners.
For that reason, I'm out.
It's... It's not a good set
of circumstances for us
that you're out of money, right?
So, it's not a fit for me. I
wish you guys the best.
But for those reasons, I'm out.
You haven't even seen the
best thing about this product.
Our patents do not just
cover the shaving industry.
Our patents cover the entire
aerosol industry out there.
Cleaning products? Multiple
billion-dollar-a-year industries
that our invention changes.
Rather than an air duster
just being like a little stream,
it's a power air duster.
The note is take a
shot on the shaving.
That was your...
Your dad talking to you
from beyond the grave,
which was very moving.
I've been on "Shark
Tank" for 14 years.
I've never heard
a story like this.
So, the... the shaving
category that you're competing in
is incredibly crowded and
dominated by behemoths.
It's... It's a really
big challenge.
Um, I'm not gonna take
that journey with you.
I'm out.
I see a lot
of challenges with it.
I wish you all the best,
but I-I don't want to be in
the shaving cream business.
So, Mike, it's not
for me. I'm out.
But I think Lori still hasn't
made up her mind. I'm left.
I really like the
interchangeability of this cap
onto anything, and
I like the thought of
that there are other things
that you can do with it
and that you have a patent.
Now, all that being said,
you don't have many sales.
You haven't proven this.
But I also look at it
as your family and you
don't have a lot of experience
in the consumer product world.
Um, I'm gonna take a
real flier on you, Mike...
Wow... because this is
really not, like, something
I ever would think
I would invest in.
But I also know a good
product when I see it.
So I'm gonna give
you a royalty deal,
but it's not like Kevin's.
I'm gonna give you $1 million
for 100% of your company.
What?
Wow. And I will give
you a royalty of 3%
of the net sales for life. Wow.
I'm going to give you $1
million to buy out your patents,
the product, the everything.
Yowza.
Four Sharks are out.
Lori is Mike's last
chance for a deal,
and she has made a
surprising $1 million offer
for 100% of his shaving
brush company Legacy Shave.
I'm going to give you $1 million
to buy out your patents,
the product, the everything.
Yowza.
You won't have to
do anything anymore.
I will try to give it a go.
I'm pretty good at
this kind of thing.
And then I will give
you 3% of net sales
on whatever I sell for life.
My decision,
though, was based on
that this is probably the
coolest shaving experience
I have ever felt.
It is really wonderful.
Yes or no, Mike? $1
million buys you out.
And you can counter. You
can counter some, Mike, too.
Would you be
willing to do that offer
where we can have 5%
equity of our company still?
And that way it guarantees us
that we can carry on our legacy.
That's very smart, Mike.
That's called schmuck insurance.
And explain why
that's so smart, Mark.
'Cause if it turns
into an amazing deal,
you don't want to
look like a schmuck
because you gave away
the whole thing, right?
And so by retaining
5%, when Lori turns this
into a $10 million or
$20 million company,
then your 5% is
actually worth something.
Mike, you don't even need that
because I am the royalty king.
Let me explain what happens.
If she gets bought out
by a big shaving company,
they're gonna want to buy
out your royal. That's true, too.
That is your schmuck
insurance. Yeah, you're right.
You can get, advanced, all
that royalty into one check.
So technically, I mean,
you don't have to do that.
But if you... W...
If you want schmuck
insurance, so to speak,
then I would come down
in the money I'm giving you
because now you're retaining
5% of your company, right?
But not much,
Lori. - So...
Well, he came in asking for
$300,000 for 10%. It's $50,000.
So now you're $950,000?
So, I would go down...
No. $700,000.
Oh, that's a big dip.
What do you want to do, Mike?
I'm willing to risk $300,000.
I still want to have
equity in this company
along with my brother.
It's worth over
$100 million, easily.
Lori, I take that deal,
but I'll take it
with the $700,000
'cause I know that this is
gonna be more than that,
and we can still retain
5% equity of our company.
All right.
Good job, Mike.
Good for you, Mike.
Thank you, guys.
I bet you didn't expect
that today. This is amazing.
Oh, my gosh. This
is so incredible.
Amazing!
Take the shot,
Mike. Take the shot.
We're taking the shot, Lori.
Thank you. We're
taking the shot, Mike.
What would your dad
think of this moment?
I think he... he's damn proud.
And in fact, I know
In fact, I even
wore his ring here today with me
so he can be with me.
And I know he's standing
next to us right now
and saying, "Way to go,
you two knuckleheads."
Let's go! We're gonna do it!
Thanks, guys. O'Leary:
Thank you, Mike. Thank you.
I just can't wait to celebrate
with my mom and my brother.
It... It's come full
circle, and here we are.
And we're ready to move forward.
And as a family, we're
gonna take that next step.
And I know that this is
gonna become something
even greater than
we all imagined.
Sharks, it's time to say
Gouda-bye...
No!
To boring gifts.
My dad left
one more thing for us.
What?
A note.
A message beyond
the grave. What?
All we need is someone
to pour gasoline on the fire.
Wrong move, wrong time.
I am very worried
about competition.
I already know that this
market is $11 billion worldwide.
You guys are the real deal.
We're just undercapitalized.
We... We know
what we want to do.
I don't think so.
We've taken it as far as we can.
We're out of money.
Guys. You've been trying
to get in here for 10 years.
And now you have an offer.
Don't blow it.
First in the Tank
is an exciting treat
for special occasions.
Hi, Sharks, I'm Rachel.
And I'm Aaron.
We're from West
Palm Beach, Florida.
And we're here seeking
$300,000 for 5% of our company.
So, Sharks, we've
brought some gifts for you.
And what we've got is w cooler
than these outdated gift baskets
that my granny sends me
out of a mail-order catalog.
And definitely way tastier
than overpriced fruit
shipped to your door.
Now, the dominant players in
the online edible gifting space,
they're gonna ship you a basket
full of chunks of cheese
and chubs of meat
that you have to
laboriously peel, chop up,
and then artistically
present yourself.
Sharks, it's time
to say Gouda-bye...
No!
To boring gifts. Oh.
And revolutionize the edible
online gifting space with...
Boarderie. Boarderie.
Boarderie is the first
company in the world
shipping completely
pre-assembled
catering-quality cheese and
charcuterie boards nationwide.
Our edible works of art are
shipped completely prearranged.
All you have to do
is remove your board
from its perfectly
sealed packaging,
pour the nuts in the
spots where you find them,
and you have a beautiful
chef-quality display
in just minutes. Wow.
So, Sharks, who's ready to make
an un-Brie-lievable investment?
We know it's a lot of cheese.
But we're gonna make
you a lot of cheddar!
Stop the talking.
Start the eating!
So, Sharks, you have
your "Shark-uterie" boards
in front of you. Ah. I got it.
Oh, wow.
That's really tasty.
Oh, wow.
So we have a
small, a medium, and a large.
And one thing to
understand about these
is they're not custom products.
These are made
in an assembly line.
And we can make up to
3,000 of these in any given day.
Wow. So we've created
a new gifting category.
This is amazing. Thank you.
When was this board made?
'Cause it tastes super
fresh. - So fresh.
It's all super fresh. Our
standard is next-day.
So if somebody makes an
order by midnight, the next day,
we make it completely fresh
and then it ships
out that same day
and it gets to the
customer the very next day.
Where's the facility
that you're doing this at?
That we have a 15,000-square-foot
production kitchen
in Florida.
So let's talk about price.
What does this cost?
So the one in front of you
costs us $91 to produce.
We wholesale it to our vendors,
mostly through
e-tailers online for $154,
and it retails for $229,
including shipping.
How did you guys
come up with this?
So I've been in hospitality
and restaurants my entire life,
and while I was
in culinary school,
to make money, I started
a little catering business.
And over the next 15
years, my wife, Julie, and I
built one of the largest
high-end catering companies
in South Florida.
For royalty, for celebrities,
for athletes. Wow.
It was, like, really
a dream come true.
And then the pandemic hit
and it literally, like, stopped.
Oh. It, uh...
So i-it stopped everything,
and so we pivoted.
And that's when we
bet on e-commerce.
We hustled for nine months
and we launched with
a popular online e-tailer
and everything changed.
We went from one
online e-tailer the first year.
Then we launched
with Williams-Sonoma,
and then we launched
with DoorDash.
Last year we did
$1.8 million in sales.
What? Corcoran: Wow!
And then... Wow.
We launched with
Costco in Q3 of this year.
What will sales be this year?
$4 million this year.
Wow. Will you make money?
Yes, we'll be profitable. Yeah.
We'll do $400,000,
is what we believe.
And you don't sell direct
if I want to buy it from you?
We just launched
our website in July.
And how is that working out?
It's been going
really well so far.
We did $30,000 in
sales our first month.
What is your customer
acquisition cost?
Between $40 to
$60 in our first initial
couple of weeks of testing.
And that's really
why we're here.
We want to build
that side of it out
because our biggest frustration
is that we're selling
through e-tailers,
so we don't own any of
our own customer data.
So we get a huge rush of
sales in Q4. Right. Smart.
And then we can't remarket to
those customers Q1 through Q3. Right.
And we see that there's so
much demand for the product.
Rachel, were you working
in the catering business?
Is that how you guys met? No.
So, when the pandemic
hit and work went remote,
my fiancé and I decided
to move down to Florida
to quarantine with my family.
Aaron had started
delivering these boards
for local delivery in our area.
So you were a customer
first? I was customer, yeah.
And I fell in love with
the concept from ordering.
And Aaron and I got
to know each other,
and we would talk
about this vision he had.
I believed in him since
the minute I met him.
Are you partners
50/50? We're partners.
We own 75% together,
and we have one outside
partner. Who's the other 25%?
How much has he
invested so far? $750,000.
- Wow. -$750,000?
- Wow.
Yep, and he helped us build
out the entire production facility.
Now, there are five
giant competitors
that sell baskets
and gifted items. Yep.
Couldn't they simply
do this themselves?
Why... Why... That's
a great question.
Why is this proprietary?
It's a great question.
And when we started, we
were worried about that.
But what we're doing is so
different than pick and packing. Mm.
Our facility is built-to-suit
for this type of production.
That's kind of our secret sauce.
And that's our secret
sauce, so, you know.
Of, like, how we're able
to do 3,000 of these a day.
How much money
did you guys put in?
My wife and I did a $300,000
home equity line of credit.
We also put in another
$150,000 SBA loan,
and then another
$100,000 line of credit
against the catering business.
And, Rachel, did
you put money in?
I put in $750,000 for
the build-out of the facility
Wow! Cuban: Wait, wait, wait.
How much have
you invested in total?
Around $2 million
total. - Oh!
- Wow!
- Wow.
Man, that's commitment.
And we can do $70-million plus
out of this one facility. Yep.
Rachel, I couldn't be more
impressed with the two of you.
Thank you. But...
$300,000 for 5%...
I just don't think the
amount of equity...
We're doing $4
million this year.
And $8 million next year. I'm with
you 100%, and I-I just don't like to be
a small minority
shareholder like that.
Now, I'm gonna clear the deck,
make room for the other Sharks.
You can have as much
cheese as you want. Yeah.
I'm out.
So, guys, I think what
you've done is phenomenal, right?
You deserve a ton
of credit, you pivot,
you showed agility, curiosity
to go into a new space.
I just think this is replicable.
To Kevin's point,
those big company...
They're not stupid.
They know that it's
in their best interest
to keep you from
building that brand.
I'm not saying you can't do it,
I just don't think the economics
work for me as an investor.
So for those reasons, I'm out.
Thank you, Mark. We
understand. Okay, thanks, Mark.
I know this space inside out.
I am very worried
about competition
because I... I fought
them for years.
They built big businesses,
and they have really good
customer acquisition cost.
So my offer is gonna
reflect the risk I see.
But also I bring to the table a
brand called Chef Wonderful
that's been very successful.
And I think I could get
behind this product for you.
I'll give you the $300,000.
I want 17.5% equity.
Wow.
What do you need the money for?
We think we're gonna do
$2 million just in December,
and we need all the
available capital we can get
to put into inventory.
And this will help us
to be able to run our
direct-to-consumer strategy.
I have an offer.
I think you're gonna
need a lot more cash.
You probably don't
even need a partner.
You probably need
a good credit line.
But I'll give you both.
I'll give you $300,000 cash
plus $300,000 credit line,
but I'd like 15%
of the business.
Is that undercutting
this guy here?
Yeah. A little. Good.
15%. Thank you, Barbara.
That's an awesome offer.
Thank you for the offer.
I'm gonna make it really simple.
Um...
Two Sharks are out.
Rachel and Aaron have
two offers on the table
for their charcuterie board
delivery company, Boarderie.
And Lori might be interested.
I'll give you 300,000 for 13%.
13%?
Lucky number 13.
You have three
offers. - Yes.
What would you like to do?
Our most important thing to us
is launching our
direct-to-consumer strategy.
And, so, whoever has the
most expertise in that space...
That's right here.
No, it's not. No one's done what
I've done direct-to-consumer...
in consumable
gifting. That's not true.
Nobody.
You want to sell this one day
to Hickory Farms
or somebody else.
That's how this works.
I know how to get there.
These two don't.
Well, I've sold
over 2,000 products
over 20 years
direct-to-consumer.
I don't think I agree.
That doesn't count, Lori.
I don't think I agree
with what Kevin's saying.
I've done every product
category there is.
Guys, pick... pick a Shark, pick
an offer. You gotta pick a Shark.
- Okay. Okay.
- Or counter.
Okay, you say it. Okay.
Okay. She's gonna
say it 'cause I am...
As you can see, I'm sensitive
and I hate to hurt
people's feelings.
Aww.
Okay.
Lori, would you do it for 8%?
Oh, you guys.
We've already
invested so much in this.
We've got the whole
production process down.
All we need is someone
to pour gasoline on the fire.
Well, let me tell you this.
And Mark says this all the time.
Say it, Mark.
40% of a watermelon is
better than 100% of a grape.
You know? So here's the thing.
If I blow you up and you're
making fantastic sales,
then you're going to be
thanking me and saying,
"Oh, I don't care about
those of your points."
So I'm gonna stay
at 13%, you guys.
It's time to decide.
Would you do it at 10%?
You... We don't
need a lot. I mean...
I will do it at 12%.
You know what, guys?
I would do it at 10%.
Wow. I would do it at 10%
because the best
deals we've all ever done
are the least needy
entrepreneurs.
Where they just call with
questions... - Yeah.
Mm... and they
just want the support
maybe an introduction, a
line of credit... Look at me.
I'll do it for 9%.
He just did that to get me down.
He's such a...
He's such a... Ugh!
9%?
9%.
You got a deal! You got a deal!
I get free boards now.
I get free boards forever.
I'm going to kill you, Mark.
Oh!
Spread the
cheese! Spread the cheese!
You're welcome, guys.
Great job, guys. Thank you.
Cheese for life. For life!
This is so cool!
That was amazing!
Yeah!
We love Lori.
We think she's the
perfect partner for us.
She reaches all
of our customers,
and she was really
passionate about the product.
And I think that's
what matters most.
We need somebody who's
gonna help us spread the cheese,
and she's the perfect partner.
Mark!
You did it for that reason. I know it!
'Cause I knew they weren't gonna do 13%.
I'm a sucker! I knew there was
no way they were gonna do 13%.
Lori, don't complain.
I loved your whole speech,
how you were staying at
13%, and then you went to 9%.
'Cause of
In Season 13,
we watched Mika Bertholdo
make a deal with Emma Grede
for her one-of-a-kind
headband company, Ooakshell.
We're gonna actually
try to build a proper company.
It's $150,000 for 20%.
Let's see what she's up to now.
Before "Shark Tank,"
I was living with my husband
and my two kids with my mother,
and we were running all
operations from her house.
I was doing all of the sourcing,
sewing, dyeing, packaging,
marketing 20 hours
a day, 7 days a week.
Since "Shark Tank," I
moved out of my mom's house
into a beautiful new home.
I have a full-time
manufacturer in Dallas,
that does all of
my sewing for me.
And I upgraded from
my mom's garage
into a 1,500-square-foot
warehouse and office.
And I even have an assistant.
She does 90% of
all the packaging.
Since "Shark Tank," Ooakshell
has made $375,000 in sales.
You can double the
amount of inventory
that you're putting
out in the world
if you just get a
little bit of help,
especially when it
comes to production.
Emma has been as hands
on as any Shark could be.
I had a crash course at her
Good American headquarters
in finance, marketing,
fashion merchandising...
This little
hit with the branding,
that makes a big difference.
I learned more than I have
in all my four years at college.
I'm so, so excited.
This is just the
beginning. I know!
As a first generation American,
it was really hard to feel like I
was disappointing my parents
when I wasn't following their
dreams to become a doctor.
So, when my mom first told
me she was proud of me, um...
it was amazing.
Kind of made it seem like
this is a business, this is real,
and this is success.
Being on "Shark Tank"
has changed my life.
I get to spend time with
my family and my kids.
And I have an amazing
mentor who's there for me
any time I need and it's
really helped Ooakshell.
And is going to continue
to help Ooakshell grow.
Next into the Tank
is a modern version of
a stale car accessory.
Hey, Sharks, I'm Trey Brown.
And I'm Don Brown.
We're two brothers
from Los Angeles
seeking a $200,000 investment
for 5% of our company.
Wow. Imagine a
peaceful day on the road.
Wind blowing, sun shining.
You're bumpin'
your favorite track,
cruising down the back
streets, just catching a vibe.
But then that
smell hits you. Oof!
A nearby landfill.
Spilled coffee.
Even forgotten French
fries can turn your car
from an oasis into a
horrible, stinky nightmare.
For years, the
problem of a stinky ride
has been solved
by a series of ugly
and un-stylish air fresheners.
So we created Ride FRSH,
the world's flyest
air freshener brand.
I know you guys are
probably wondering
"Why paper air freshener?"
When you do a little
"sniffing around,"
you'll figure out that
it's an untapped market.
At Ride FRSH,
we offer a subscription-based
car air-freshener brand
with unique scents and designs
that will be sure to blow
you... And your customer's...
minds! ...minds!
We have amazing
scents like Woodgrain.
Wow!
Eucalyptus. I
love this one, bro. Nice.
And even your favorite
basketball teams.
This one smells like winning.
Sorry, Mark.
The reality is, is that
paper air fresheners
have had no
innovation in far too long.
And they smell whack.
Hey, bro. What's up?
I think I'm smelling a deal.
With the help of the Sharks,
we can make Ride FRSH...
- Explode!
- Ahh!
- Whoa!
- Wow!
God!
So, Sharks, in front of you
you'll find... Calm down. Calm down.
A series of our
Ride FRSH scents.
Please feel free to crack
them open and enjoy.
Wow.
Wow. After that?
We can't even function.
Mark, are you okay?
You're kind of still over there.
Ooh, you know what's... you
know what's... Dumbest marketing move ever.
I'm out.
- What? -That's it?
- Seriously.
That's
mean. Seriously.
You gotta read your room.
Wrong move, wrong time.
What are you upset
about? Yeah. Why?
Yeah. Why do you think?
The one air freshener
from the NBA
is the team that beats us in
the NBA conference finals.
Gotta know that that
could backfire. Oh, Mark.
You're a bigger man
than that. Cut it out.
Yeah, I could be, but I'm not.
Wow.
Here's one thing I'll shout out.
Before I even opened them,
I picked them up and I
could smell the scents.
I was like, wow.
These are obviously
packed with the fragrance.
So we pride ourselves on having
some traditional scents,
some nontraditional scents.
But our entire approach
and our entire brand
is adding a cool factor
to the air freshener
and changing the experience.
Do you sell any
of this stuff in retail,
or is it all subscription
direct-to-consumer online?
So we built our business off
of direct-to-consumer online.
We proved the concept to the
tune of over $1.1 million in sales.
And then... -What?
- What?
Yep. Thank you. Thank you. $1.1
million sales in how much time?
What period of
time did you do that?
- In three years.
- Three years. -Wow.
Let's talk
about one year, this year.
What are you gonna
do in this year in sales?
This year, we're gonna
do over $750,000.
Good for you. But to
answer your original question,
Mr. Wonderful,
we've always known
that the subscription
was the first phase of
our building our business,
but the main potential and
the biggest potential for us
is in retail and
wholesale, right?
Would you say that?
Have you proven that?
Or have you just started
down that alleyway?
Well, gas
stations, things like that,
things where it's
intuitive to pick this up.
Exactly. So just in
the last six months,
we've been able to get to the
final stages of an agreement
with the largest automotive
retailer in the country.
What's the deal for?
2,000 stores. 2,000 locations.
2,000 of their 6,000 locations.
In other words, they're
gonna order from you
how many dollars of merchandise?
$2.1 million.
Wow. In 2023.
So it's like Pep Boys, that kind
of thing? Yeah, it's AutoZone.
What did you sell last year?
Last year, we sold $540,000.
And out of that
$540,000, was any retail,
or was it all
subscription-based?
All subscription.
All subscription.
Why does somebody buy a
subscription model... Right.
For an air freshener
for their car?
Right. Yeah. So it's the
convenience factor, right?
Think rideshare drivers,
taxi drivers, these
types of individuals.
If I started with you,
how long before I cancel?
About four months.
And how much is a subscription?
They range.
So the base one is
you get two a month
and we have them in pairs,
and that's $8.25 with shipping.
And then the highest
one... Per month?
Yeah. And the
highest one is $10.99.
So 38 cents is our cost landed.
Out of the $540,000
you did last year... Mm-hmm.
Were you profitable?
Yes. Yes. What did you make?
$40,000 in profit.
$40,000.
What were you guys
doing before this?
What got you here?
We're... We're brothers.
We're lifelong entrepreneurs.
In 2014, we actually
launched the first mobile app
for black and brown emojis
before they kind of
diversified the set.
My brother has a
successful career in sales,
and I was at a couple different
ad agencies in my career.
We both went to
Howard University,
the Howard University. Yep.
I then came to Los Angeles
and then I got my masters at USC
in Entrepreneurship Innovation,
and as well as certified in
technology commercialization.
I remember walking
down the street
and seeing all these air
fresheners everywhere
in everybody's car, and
I was like, well, listen,
if we put some culture
and style on top of this thing,
I already know that this
market is $11 billion worldwide
and in the United
States, it's $300 million.
So yeah, we could
definitely do this
because there's nobody really
doing a subscription model.
That's the most interesting
thing you've said in this pitch.
The air freshener market is $300
million? Yeah, that's interesting.
In... In the United States. Greiner:
Listen, I know a lot about fragrance.
This is very male-skewed.
I think you need
work here in that
I think you need to have
an entire female-based line
'cause I-I wouldn't hang
this shape in my car.
It's not the right
investment for me,
but I wish you good
luck. Thank you.
Thank you so much. I'm out.
You guys are the real deal.
I've been trying to get my
head around investing in you.
When I was younger,
my mom and dad put me
in the back of a car
with a million suitcases
and everything.
I had to sit in the
back for 24 hours.
No big deal. You were a little kid.
'Cause my dad refused to pay for a motel,
so we had to drive from
Toronto all the way to Florida.
All I could see was
the air freshener.
It is scorched into my brain.
As soon as I see
air fresheners, I think,
Aah! I never want
to go back there.
I'm sorry. I can't
be in. I'm out.
Fair enough. Fair
enough. Thank you.
But let me tell
you where I'm stuck at.
The numbers, okay?
No one's brought this up
yet and I don't know why.
$200,000 for 5%... Yeah.
Imputes a $4 million
valuation on a business
that makes no money.
Yeah. This is a business
model not yet fine-tuned.
I'm out.
- Thank you, Mr. Wonderful.
- You know, uh...
I think you need
to be congratulated
for producing $700,000 in sales.
It's amazing. Online.
Amazing. Why you're pivoting,
that you're going into retail...
I think you're out of your mind.
I don't think you realize
how cash intensive it is.
Why did you pivot
to retail? I'm curious.
Because that was... that
was always the plan, right?
And in the last
year, the main way
that we were able to
grow the subscriptions
and acquire those subscribers
became a lot more expensive.
You were losing hard on
your subscription model
because the numbers had changed.
Yes, but we were
always gonna focus
on growing the business
through retail and wholesale.
All right. So I'm going
to make you an offer
contingent on your big deals.
Okay. Okay, I'll
take a flier on this
because I believe
in the two of you.
So, I'll make you the offer
of, of course, the $200,000,
but I do want 25%
of the business.
Whoa. That smells a lot.
Let me... Can I
ask you a question?
Yes. Of course.
Are there other ways
that you can help us
in terms of a
strategic partnership
in exchange for maybe
15% for the 200K?
I would have to say
15%... definitely not.
I think this is gonna be
a lot of work to sell this.
200K for 20%?
What? For 20%?
Contingent on
those two big deals?
Contingent on those
two deals. Mm-hmm.
You got it. Okay. Cool.
Thank you. Thank you.
Good one, guys.
Thank you. Thank you, guys.
Thank you, Sharks. You
better not lose my money.
Thank you so much. My
pleasure, really. Thank you.
Bye-bye. Thank you, Barbara.
Terrific. You did a great job.
We appreciate it. Thank you.
And sorry, again. We... Sorry.
It's all good. It's all good.
- Congrats, guys.
- Nice job!
I think Barbara
saw a true entrepreneur's
grit, grind, tenacity.
We're already trending upwards
with these major retail
and wholesale deals
that Trey's been able to secure.
And having Barbara
on board just means that
we're gonna have more
resources and more abilities
to scale this business
all the way to the top.
Next up is a product
designed to light
up action sports.
Hey, Sharks I'm Dakota Porter.
And I'm Garret Porter.
We're from Traverse
City, Michigan.
And today we're seeking $200,000
in exchange for 15% equity
of our company Action Glow.
Now, we're action sport junkies,
and we've been snowboarding
since before we could even walk.
As teenagers, we practically
lived out on the slopes.
And because the sun always
set so early in the winter,
a lot of our snowboarding
was typically done at night.
And sure, they've
got big spotlights,
but when that sun goes down
the atmosphere
becomes miserably...
Boring. Boring.
But one night we
decided to change it
and created Action Glow.
Action Glow is an aftermarket
LED lighting system
for sporting equipment.
It allows riders to
express their personal style
while also adding
an element of safety.
Over the last few years,
professional athletes
and action sport
enthusiasts worldwide
have been turning to Action Glow
for their night
riding adventures.
We currently offer eight
different applications,
ranging from
snowboards to surfboards.
And the best part is,
our systems can be
applied in just 5 minutes
to any brand of
sporting equipment.
We are excited to bring
a product into the Tank
that shines brighter
than Mr. Wonderful head.
Bam!
Sharks, we've been dreaming
of pitching to you guys
since we were kids.
Take a look.
Hi, we're the Porter brothers,
and we live in
Traverse City, Michigan.
I'm Dakota Porter, aged 16.
And I'm Garret Porter, aged 13.
Together, we created a business,
45th Parallel Lighting,
in which we have
a patent pending
for our product Action Glow.
Dakota Porter, aged 18.
And I'm Garret Porter, aged 15.
We need the Sharks help...
To light up your score.
Oh, my God, that is the
best video! Thank you, guys. Thank you.
So you guys applied
all those years?
We grew up watching the show.
And now, yeah.
Season 14, here we are.
Good job. Wow.
You haven't had your business
that long, though, have you?
So we filed for our LLC in 2012.
So we actually just celebrated
10 years in business this year.
Wow. You've been in
business for 10 years?
10 years. That's crazy.
In 2016, our full utility
patent was issued
for decorative lighting
systems... Oh, really?
For sporting equipment.
Is it one color, or
can I change colors?
So right now, um, our
systems are one color,
so there's static colors.
And that's kind of
why we're here today.
So we have developed a
second generation product
called Action Glow2.
Right now we're
sitting at 40 SKUs.
And so that drops
it from 40 to 8.
What is the cost go up
to get the multi-LED color?
Yeah, so the cost will
only go up a little bit.
So our current... the
current price for our product
ranges from $49 for,
like, the skateboard
to $124 for an SUP
board or a kayak,
which is obviously
a little bit bigger.
What does it costs
you? $49 to sell...
What does it cost
you to make that? $15.
Talk... Talk about
your total sales?
Lifetime sales are $130,000
of hand-assembled
Action Glow units,
and almost half of that has
come in the last two years alone
when Dakota and I
have graduated college
and we had more time to
focus on selling our product.
You were saying what your
sales were the last two years alone.
What were they?
Yeah, so, in 2021 we
did $32,000 in sales
and this year we're at $22,000,
but we haven't hit
our biggest quarter yet.
And our biggest
quarter was obviously Q4
for the holiday season.
We expect about 40%
to 50% of our sales
to come in Q4 alone.
How are you selling it?
Yeah, Right now
it's all word-of-mouth.
We've done no marketing.
None? No social
media for guys like you?
Yeah, why not?
So, social media, yeah.
So we've... we've had
social media accounts.
They're saying you haven't
spent any money on marketing,
only social media
driving word-of-mouth.
We're getting
the orders right now
that Dakota and I
can keep up with.
Because every
time we get an order,
we have to go make
it, literally assemble it,
package it up, and ship it out.
So we're extremely worried
if we have a TikTok
video go viral, or...
You can't keep up with it.
We won't be able to keep up.
I've never met anyone
who doesn't want a TikTok
to go viral who's
in business. Yeah.
I think you're crazy.
Guys, I-I've been
in this market before
with a product
called Illumibowl.
It was five or six years ago,
and it was wildly successful.
And the bigger it got, the
more knockoffs came out.
But we kept... kept innovating,
kept innovating, innovating,
and knockoffs,
knockoffs, knockoffs...
Nothing proprietary here.
I mean, maybe you think this patent's
Yeah, it is. They have a patent.
Yeah. Yeah.
We have a fully...
What I learned, the patent,
you have to actually protect.
And we would... We
were suing people like
Whac-A-Mole out there.
I think the product is great,
but the problems
ahead are great, too.
I'm out.
Thank you, Kevin. Thank you.
Listen, you guys,
I think that you're fabulous.
But you're very,
very small right now.
It's not an investment for me.
I wish you good
luck, but I'm out.
Thank you so much.
Thank you so much.
Guys, you're
on an amazing journey.
It's just really a tough
business for an investment.
I mean, you gotta run it
the way you wanna run it.
And I understand
there's some shortcuts
by having a Shark
to help... Right.
But the way you've
been doing it is perfect.
I think you guys
will do great things.
It's just not a fit for me. So
for those reasons, I'm out.
Thanks, Mark.
Congratulations, guys.
Thanks, Mark.
You have a whole
club of people adoring you, I'm sure.
Wherever you go, right?
And I can't figure out
why you haven't sold more.
The only answer
I can give myself
is you haven't
done social media.
It took you 10 years with
this amount of sales. Right.
I'm not impressed with.
I know you've put
in all the effort. Sure.
And I know you're the
walking, talking example
of a young entrepreneur.
I'm not taking away from that,
but something's wrong.
I mean, it's a cool product.
You're the right
spokespeople for it.
The biggest thing is
we're just undercapitalized.
We... We know
what we want to do.
I don't think so.
There's a lot of young
businesses that have
long waiting lists of customers
who are willing to wait
'cause they're in
love with the product.
So I wish you luck.
I'm sure you'll do well.
But I'm out.
Thank you, Barbara.
I'm impressed with it.
You know, I think it takes
us all back to our young days.
We're projected in
year one of Action Glow2
to do $430,000.
How do I know you're
gonna sell that amount?
I've been where you want to go.
I've built the size of
companies you want to build.
You just got to do it with a
little more discipline, right?
'Cause high-energy
people tend to be like,
"Ahh! Squirrel," right?
That's true.
That's what I'm here for.
Dakota's that high-energy
person. That's me, yeah.
And I'm here to reel him in.
I think you need
a little discipline.
You're asking for $200,000?
Yeah. Yes, correct.
How much of the
business do I own
for it to be interesting
for me and...
Robert, let me guess... it's
gonna be more than 15%.
Wow. It's like you have
a crystal ball, Kevin. Yes.
All right, guys. It's an
investment in you guys.
A lot of stuff to figure out.
Sure.
I'll give you the
$200,000 for 30%.
I knew he was gonna say that.
This is... First off,
this is incredible.
And thank you so
much. Yeah. Thank you.
Robert, will you be
willing to do 20%?
No, no. No. $200,000 for 20%?
How about 25%? No.
Could you see yourself
getting to 25%? No. No.
Guys, you've been trying
to get in here for 10 years,
and now you have an offer.
Don't blow it.
Okay.
What is going on?
Robert, it's time to hop on
board, Robert. Oh, yeah, baby!
We've got a deal!
Guys. Hey, thank you so much.
- Oh, my God. Thank you.
- Congratulations, guys.
Congrats, guys.
Can I keep the board?
You can keep the board! It's yours!
Yes! Keep the board. It's yours!
Congrats, guys.
Oh, my God.
We've been waiting 10
years to get into the Tank,
and we just made a deal
with our dream Shark, Robert.
We couldn't be any more excited,
and we hope that our
story and dedication
inspires the next generation
of young entrepreneurs.
Next into the Tank
is an innovation to a
classic grooming ritual.
Hi, Sharks. My
name is Mike Gutow.
I am from Metro
Detroit, Michigan,
and I'm seeking a
$300,000 investment
for 10% equity of a company
that has patented technology
that is set to disrupt a $50
billion a year global industry.
Sharks, I'm talking about
the shaving industry.
So what's the
problem with shaving?
Well, see, we put
shaving cream on like this,
you're doing the adverse
thing you should be doing.
I'm not exfoliating my skin.
I'm closing the
pores of my face up,
and I'm actually matting
my hair follicles down.
Now, I'm gonna go to
run my raise over my face,
I end up ripping and
pulling my hairs out,
which gives me the razor
bumps and burns we all hate.
Not only that, look at the
mess and the waste this creates!
More than half the
product I don't even use
gets washed down the drain.
But this is not how
Grandpa shaved.
You see, with all
the advancements
in the shaving industry,
the one thing that
has been overlooked
has been this shave brush.
But we don't have
time for this anymore.
This is why we
created Legacy Shave,
the world's first
universal patented
shave brush and
dispenser all in one.
This is a modern shave
brush for modern times.
Watch how quick
and easy this is.
One small pump, the product
comes right through the brush.
Oh, wow. This little bit.
This is all you need.
Now you apply it
to your face or body.
You're doing exactly
what you should be doing.
I'm exfoliating my skin.
I'm cleaning out
the pores in my face.
I'm stimulating
my hair follicles,
sticking them out and up.
Now when I go to run
the razor on my face,
I get the cleanest,
closest shave possible.
Goodbye razor bumps and burns,
and goodbye mess and waste.
Great job.
But here's the
amazing part, Sharks.
Legacy Shave fits every
single manufacturer out there.
Doesn't matter make or
model. - Oh, wow.
Oh. Men or
women's, foam or gel cans.
Even down to the travel sizes.
- Very good. -Wow.
- It fits them all.
Sharks, I ask you...
who wants to use your legacy
and join team Legacy Shave
and let's disrupt the
$50 billion a year industry
together?
Let's go!
Let's go!
- Whoo!
- Let's hear it for Mike!
Best presentation
ever, Mike. Wow.
How does it work, Mike?
Do a couple small, gentle pumps.
Yeah, there you
go. A lot comes out.
Yeah, a-a little bit, Robert
Perfect. That's all you need.
Oh, this is good shaving cream.
It's amazing shaving cream.
It's clean ingredients
infused very heavy with aloe.
What do you sell it for?
We sell that for $24.95.
What does it cost you to make?
It cost me $5.39 to make.
Just a brush we sell for $19.95.
How did you come up with this?
28 years ago,
we gave my dad a
gift for Father's Day
that we thought he would love.
See, my dad was a daily shaver,
and he always complained
about how his electric razor
would always give him
razor bumps or burns.
So my brother and I got
him a really expensive,
old-fashioned shave brush,
and he just looks at us and
goes, "You know what, guys?
I'm not gonna be
able to use this.
It's just not for me. I
don't have time for this."
Well, crushed and devastated,
my brother and I were like,
this got to be a different
way. So the idea came up...
Well, why don't you
just put a brush on that,
and now you have a shave brush?
We ran to the hardware store.
My dad picked a big clay putty
that you could mold
and form and shape,
and a disposable paint brush.
Next day, we wake up.
My dad just comes
strutting down the aisle,
smiling ear to
ear, just like that.
And we're like, "What
are you so happy for?
You're never happy in
a morning."
He goes, "Don't you two
knuckleheads remember
the shave brush we
invented yesterday?
Well, it worked! It's awesome!
I never had a better
shave." That's great.
So my dad, he knew a
plastic injection molder.
Four months later, we
get 20 prototypes back.
And this is where things kind of
took a turn for
the worst, Sharks.
Fear.
And it's been
documented several times,
that people have
ideas and inventions
that they spend money,
patents to protect it,
their whole entire
life savings to bring up
with a new idea and concept
only to have the bigger
companies rip them off.
And it's basically
David vs. Goliath.
And we sat there in fear,
and that's basically
where it sat
for literally 20 years, Sharks.
Unfortunately, my dad
passed away from cancer.
Sorry.
Years after my dad passed away,
my brother and I go
down to his basement
and there sits my
dad's workbench.
I open up those
boxes, and, Sharks,
remember I told you
we only thought we had
20 or 30 prototypes?
Well, they're sat 3,000...
What?!
Of our original prototypes
from 28 years ago...
Oh, my God... that my
dad had sat and assembled
during his chemo treatment
time to keep himself busy.
Wow. He knew we
would eventually see this.
And, Sharks, he left
one more thing for us.
What? A note.
A message beyond the grave.
That said, "Don't wait.
Life's short. Take the shot."
Wow. Wow.
It was at that point in time,
my brother and I just
looked at ourselves
and said, "We have to do this."
And what is the difference now
that was different
from 28 years ago?
There's a very
popular show on TV
that gave entrepreneurs a chance
to showcase their products
to millions of people.
What show is that?
It's "Shark Tank"!
And... And it was because
the show is out there,
my brother and I got the
courage to say, "You know what?
This gives David
versus Goliath a chance."
You guys are a rock.
And the last thing
that we wanted to do
is to be on our deathbeds
wondering "What if?"
And, so, that's when
the process started.
I understand now why
you called it Legacy Shave.
Yes. Yes. Great call.
What a great legacy.
But let's get back
into the business.
What are your sales
for this product?
To date, we sold
over 100,000 units
and did over $1
million in sales.
100,000 units. 100,000 units.
$1 million dollars. And that's
over what period of time?
Five... Five years.
Give us the sales
over the last five years.
Year by year.
Year one, we did about $70,000.
Did you make any
money that year?
We have not. Okay, year two.
In fact, we've been in the
red every single year, Sharks.
Year two?
$370,000.
Year three, we
did about $390,000.
Last year, what were the
sales last year? - Okay.
Last year was close to $96,000.
And what will they be this year?
So far, we've done $42,000.
But we do have a
purchase order for $63,000.
The trend is not your friend,
Mike. What's going on?
Here... Here... $390,000,
then they start dropping. Why?
We're a family, bootstrap,
start-up company.
We've taken it as far as we can.
We're out of money.
How much have you
lost over the five years?
To date, as a family, we
have personally invested
over $400,000 into this
business.
And, Sharks, we really try to
be a direct-to-consumer product.
However, my brother and I,
you know, we're trying our best.
We're not geniuses behind
us, and money's tight.
Mike, Mike, let me just
interrupt you just for a moment.
My large concern with you is
you're a phenomenal salesman,
but you're not a
clear communicator.
You're all over the map.
And I don't think
we'd be great partners.
For that reason, I'm out.
It's... It's not a good set
of circumstances for us
that you're out of money, right?
So, it's not a fit for me. I
wish you guys the best.
But for those reasons, I'm out.
You haven't even seen the
best thing about this product.
Our patents do not just
cover the shaving industry.
Our patents cover the entire
aerosol industry out there.
Cleaning products? Multiple
billion-dollar-a-year industries
that our invention changes.
Rather than an air duster
just being like a little stream,
it's a power air duster.
The note is take a
shot on the shaving.
That was your...
Your dad talking to you
from beyond the grave,
which was very moving.
I've been on "Shark
Tank" for 14 years.
I've never heard
a story like this.
So, the... the shaving
category that you're competing in
is incredibly crowded and
dominated by behemoths.
It's... It's a really
big challenge.
Um, I'm not gonna take
that journey with you.
I'm out.
I see a lot
of challenges with it.
I wish you all the best,
but I-I don't want to be in
the shaving cream business.
So, Mike, it's not
for me. I'm out.
But I think Lori still hasn't
made up her mind. I'm left.
I really like the
interchangeability of this cap
onto anything, and
I like the thought of
that there are other things
that you can do with it
and that you have a patent.
Now, all that being said,
you don't have many sales.
You haven't proven this.
But I also look at it
as your family and you
don't have a lot of experience
in the consumer product world.
Um, I'm gonna take a
real flier on you, Mike...
Wow... because this is
really not, like, something
I ever would think
I would invest in.
But I also know a good
product when I see it.
So I'm gonna give
you a royalty deal,
but it's not like Kevin's.
I'm gonna give you $1 million
for 100% of your company.
What?
Wow. And I will give
you a royalty of 3%
of the net sales for life. Wow.
I'm going to give you $1
million to buy out your patents,
the product, the everything.
Yowza.
Four Sharks are out.
Lori is Mike's last
chance for a deal,
and she has made a
surprising $1 million offer
for 100% of his shaving
brush company Legacy Shave.
I'm going to give you $1 million
to buy out your patents,
the product, the everything.
Yowza.
You won't have to
do anything anymore.
I will try to give it a go.
I'm pretty good at
this kind of thing.
And then I will give
you 3% of net sales
on whatever I sell for life.
My decision,
though, was based on
that this is probably the
coolest shaving experience
I have ever felt.
It is really wonderful.
Yes or no, Mike? $1
million buys you out.
And you can counter. You
can counter some, Mike, too.
Would you be
willing to do that offer
where we can have 5%
equity of our company still?
And that way it guarantees us
that we can carry on our legacy.
That's very smart, Mike.
That's called schmuck insurance.
And explain why
that's so smart, Mark.
'Cause if it turns
into an amazing deal,
you don't want to
look like a schmuck
because you gave away
the whole thing, right?
And so by retaining
5%, when Lori turns this
into a $10 million or
$20 million company,
then your 5% is
actually worth something.
Mike, you don't even need that
because I am the royalty king.
Let me explain what happens.
If she gets bought out
by a big shaving company,
they're gonna want to buy
out your royal. That's true, too.
That is your schmuck
insurance. Yeah, you're right.
You can get, advanced, all
that royalty into one check.
So technically, I mean,
you don't have to do that.
But if you... W...
If you want schmuck
insurance, so to speak,
then I would come down
in the money I'm giving you
because now you're retaining
5% of your company, right?
But not much,
Lori. - So...
Well, he came in asking for
$300,000 for 10%. It's $50,000.
So now you're $950,000?
So, I would go down...
No. $700,000.
Oh, that's a big dip.
What do you want to do, Mike?
I'm willing to risk $300,000.
I still want to have
equity in this company
along with my brother.
It's worth over
$100 million, easily.
Lori, I take that deal,
but I'll take it
with the $700,000
'cause I know that this is
gonna be more than that,
and we can still retain
5% equity of our company.
All right.
Good job, Mike.
Good for you, Mike.
Thank you, guys.
I bet you didn't expect
that today. This is amazing.
Oh, my gosh. This
is so incredible.
Amazing!
Take the shot,
Mike. Take the shot.
We're taking the shot, Lori.
Thank you. We're
taking the shot, Mike.
What would your dad
think of this moment?
I think he... he's damn proud.
And in fact, I know
In fact, I even
wore his ring here today with me
so he can be with me.
And I know he's standing
next to us right now
and saying, "Way to go,
you two knuckleheads."
Let's go! We're gonna do it!
Thanks, guys. O'Leary:
Thank you, Mike. Thank you.
I just can't wait to celebrate
with my mom and my brother.
It... It's come full
circle, and here we are.
And we're ready to move forward.
And as a family, we're
gonna take that next step.
And I know that this is
gonna become something
even greater than
we all imagined.