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00:00Shark Tank é para quem tentou desejar.
00:04É um sentimento que você se sente mais e mais vezes.
00:07Você vai ter um batalho-vado.
00:10Você, precisamos de sua ajuda a trazer os produtos para os produtos.
00:13Eu amo essa empreendedora drive.
00:16E eu vivo cada dia.
00:17E hoje, Todd Graves, a founder da fast-dining phenomenon,
00:21trazendo canes, a gente já está na Tanks.
00:23A gente está falando do o seu negócio,
00:25e o outro, ele diz, o outro, ele diz, o outro, ele diz,
00:27É uma das mais inovadoras que eu vei em minha vida.
00:28Eu estou listo para ir para a manhã.
00:30Agora você é o Sharks.
00:40First in the Tank é a business
00:41com todos os ingredientes para um bom tempo.
00:44E aí, Sharks.
00:54Meu nome é Danielle Mann,
00:56e eu sou da Topsail Island, North Carolina.
00:58E eu estou aqui hoje,
00:59seeking R$350,000
01:01para um 8% stake em minha companhia, Topsail Steamer.
01:05Sharks,
01:06think about that feeling that you get
01:08when you're sharing a meal
01:09with friends and family on vacation.
01:11The stories, the laughs, just enjoying great food together
01:16and having extra time around the table.
01:19I'm originally from New Jersey
01:20and some of my favorite memories are going down the shore
01:23with friends and family and eating steamed seafood.
01:27We would roll the brown paper out on the table,
01:29dump the food, pick the crabs, peel the shrimp
01:32and just have so much fun doing it.
01:34Well, with Topsail Steamer,
01:36you don't need to be on vacation
01:37and you don't need to be at the beach
01:39to get that same experience.
01:41We offer our signature bay buckets in single-use pots,
01:46jam-packed with a variety of fresh seafood,
01:50andouille sausage, sweet corn, red bliss potatoes
01:53and our proprietary homemade seasoning
01:56for you to take home and steam and eat.
01:59Now, cooking seafood might feel a little daunting to some,
02:03but we make it so simple with our bay buckets.
02:06You just add two cups of water or beer if you like
02:09to steam at home, at the beach, tailgate, campground
02:14with our easy instructions,
02:15wherever you have a burner or a stovetop.
02:18And in 40 minutes, you will have a mouth-watering
02:22seafood feast to enjoy, just like this one.
02:27Oh, yeah. Oh, yeah. Look at that boil.
02:29Wow.
02:31So, Sharks, who's ready to dig in, get your hands a little dirty
02:36and steam up a great growth investment with Topsail Steamer?
02:40Let's eat.
02:41Wow.
02:42So, right in front of you here, you have one of our most popular buckets.
02:46It's called the Wrightsville, but we've added a little lobster
02:48in there for you today with our Jimmy's Whey seasoning.
02:51Jimmy's Whey seasoning.
02:52Jimmy's Whey. Jimmy's my son.
02:53So, I just tried the sausage, delicious.
02:57Andouille sausage, we call it in Louisiana.
02:59Andouille sausage.
03:00You know, we do crawfish boils down there.
03:02We have in front of us, looks like a jalapeno cornbread.
03:05Yes.
03:06Gayland pie.
03:07There are shrimps, crab, corn, potatoes, clams.
03:13Tam, tam, tam, tam, tam.
03:15Andouille sausage.
03:16Now, does all of that come to me frozen in the bucket with the spices?
03:21So, we have brick-and-mortar stores, and we ship.
03:25Okay.
03:25The way the menu works is there's seven signature pots,
03:27and they all come in the two sizes.
03:29And they really vary, and the way they differ is by their combination of ingredients,
03:32but you also can build your own.
03:34The average order price is $177.
03:37And what does it cost you to make it?
03:38We have a total cost of goods sold of 40%.
03:42How many brick-and-mortars do you have?
03:43We have eight.
03:44All in the same geographic region?
03:46No, New Jersey through Florida, but all on the East Coast.
03:49What are your sales?
03:50Last year, we did 4.5 million.
03:51This year, we'll do 5.7.
03:52Ooh, wow.
03:53Per restaurant is what?
03:55Our AUV for our full-time restaurants is 987.
03:59Then we also have many seasonal restaurants.
04:01So our seasonal about four months open is about 450.
04:04How many square feet per restaurant?
04:05Sweet spots, 700 to 800 square feet.
04:08We don't cook anything.
04:09Small, it's easy to go.
04:10Right, so we don't cook anything.
04:11Is that good per square foot?
04:11That's exactly right.
04:12It's a good thing, especially for this concept, too.
04:14That per square foot is great sales.
04:16What is your food cost?
04:18Our food cost is 28%.
04:19That's good for seafood.
04:20Yep.
04:20What's your labor?
04:22About 17% with full-time medicine.
04:23Oh, man, your prime costs are good.
04:24Currently, our online sales are through Gold Belly.
04:27There's two models here, right?
04:28So one is a brick-and-mortar,
04:30and then the second is this mail home.
04:33Cook it yourself, steam it yourself in the kitchen,
04:35which is a lot of fun.
04:36Which way are you growing, and are you growing the same parallel?
04:40We're growing the franchise system.
04:42We feel like our total addressable market here is 400 units.
04:45400-unit brick-and-mortar, got it.
04:47Brick-and-mortar.
04:47Let me ask you a question.
04:48Why do you want to franchise?
04:50As I thought about ways for it to grow, it's me.
04:53I run the company myself.
04:54I thought, should I go raise capital?
04:56Do I need to bring investments?
04:58Right now, it's only me.
04:59I haven't brought in.
04:59I haven't given away any equity.
05:01You have small business.
05:01You're wearing all the hats.
05:03You're doing all the jobs.
05:03No, it's just me.
05:04And I just love the idea of being able to align myself with other entrepreneurs like me
05:09to be able to bring Topso Steamer and grow the brand.
05:13I got up to seven corporate stores and one franchise.
05:17It's quite impressive.
05:18You have done this all yourself.
05:20It's been an incredible journey.
05:22I mean, I'm a late-in-life entrepreneur.
05:24I was in corporate America in sales for most of my career.
05:27The last ten years of my sales career was in life science and biotech.
05:31Danielle, you don't look that old.
05:32Yeah.
05:33I'm a grandmother.
05:34I have a two-year-old grandson.
05:35Congratulations.
05:36Yeah, yeah.
05:37His name is Bruin.
05:38Tell us your story how you got into the food business.
05:40Yeah.
05:40So, I would definitely consider myself someone who always had an entrepreneurial spirit.
05:45My friends and family will tell you there's a lot of ideas over the years.
05:48And this particular one, I mean, I know exactly the moment that it happened.
05:52I was on a girls' trip with my mom and my sisters.
05:55We were at a full-service restaurant.
05:57They were making a low country boil in the old black and white lobster pots.
06:02Customers were coming in, grabbing it, taking it home, and bringing it back.
06:05And for me, that's when the light bulb just went off.
06:07And I thought, I think this can be a business all on its own.
06:11That was March of 2016, and I was becoming an empty nester.
06:15So, it just seemed like the right time to go on that journey.
06:18And one year later, I opened the doors.
06:21There you go.
06:21I love that.
06:22And I love the story.
06:24I love it, too.
06:24I love it, too.
06:25Yeah.
06:25And you're having great success.
06:26I started off just like you, thinking I needed to franchise.
06:29So, let me tell you why I think you'll have trouble with franchising.
06:35Franchisees will never run restaurants or business as well as the founders do.
06:39Amen.
06:40Okay?
06:40You can get them excited about it, but they will not execute the same.
06:44Raising Cane's is worth four times as much being a company-owned model
06:48than it is being a franchise model.
06:50So, manage one of your restaurants.
06:52What do they make?
06:53$55,000 to $60,000.
06:54$55,000 to $60,000.
06:55We need to get that up to six figures.
06:57You get that up to $100,000, and we can help you raise sales to do that.
06:59Once they can make a six-figure income, that's your partner, not your franchisee.
07:03That's your partner.
07:04They're going to work even harder, get more sales, be a representative of you.
07:07Can I ask you a couple of questions?
07:09I got one question.
07:10The reason I want to hear this from Todd is because this is the number one business
07:13that people go into, which is restaurants.
07:15And it's the number one business people fail at, at a very high level.
07:19So, I would love to get a little bit of education on what are we looking at here
07:22from a numbers perspective.
07:24So, to be successful in the restaurant business, you have to have that craveable product, right?
07:28You have to have it to where people want to come back and back.
07:30And then you have to make the numbers work because they're very tight, right?
07:33And so, your prime cost, food and labor, need to be under 60%, right?
07:3755, you're starting to make money at that 55.
07:40Her numbers are solid.
07:41Products are great.
07:42I love it.
07:43But products can be copied.
07:44Somebody could be watching this show right now and say, hey, I can do that.
07:47But you can't copy a founder's passion.
07:52And that's really what I'm betting on.
07:54And so, look, I'm going to make you an offer.
07:55You said $3.50 for 8%.
07:57Look, I'm just going to come out, keep it saying $3.50 for 20%.
08:02Ouch.
08:02Ooh.
08:03Ooh.
08:04Ooh.
08:14All sharks are still in, and Todd is interested in Danielle's seafood boil kit business,
08:20Topsail Steamer.
08:22You said $3.50 for 8%.
08:25Look, I'm just going to come out, keep it saying $3.50 for 20%.
08:29Ooh.
08:30Ooh.
08:31I thought it was pretty generous.
08:32I don't know what you think of that.
08:33That's a little shellfish.
08:35But look, he's a shark now.
08:37Yeah, yeah.
08:38So, I think this is very cool.
08:40I think it's very fun.
08:41I'm a foodie.
08:42I would like to see if you possibly would entertain having a partner come in with you.
08:49Uh-oh.
08:49Because I would love to join you for a very strong reason.
08:53You're a genius in the area I don't know, which is all the restaurant and the how to make
08:59this blow this up in that route.
09:01But I think you have another phenomenal route, which is D to C, giftable, seasonal.
09:08Like, I did a deal with boardery, which I don't know if you know it, but it was a cheese
09:12and charcuterie board.
09:13And in 18 months, we've done $50 million in sales.
09:17Wow.
09:17The combination's magic, right?
09:19Oh, I think it's magic.
09:20It's magic.
09:20I would love to partner with you on this.
09:24What do you want to offer?
09:25What would you like to do?
09:26Because you offered $350 for 20%.
09:29I'd go in on that deal if you'd entertain it, and then we'd each get 10%.
09:34What do you think of that?
09:35I am fine with that.
09:36Yeah, I wouldn't want to take any more of your equity.
09:38I think you're getting two sharks here, and we'll have some great synergies.
09:43Powerhouse.
09:44Powerhouse.
09:44Wow.
09:44Let's go.
09:45I just love the idea of both, too.
09:47I mean, I think you guys have the exact right experience for it, too.
09:53It's a little higher than I had anticipated.
09:55It always is.
09:56It always is.
09:56So I'll ask, would you consider $350 for 16%?
10:03Well, you know, here's the thing.
10:06We're going to take you to the moon, like, fast.
10:10I'm ready to go to the moon.
10:11So that's a nice way of saying no to your counter.
10:14She's saying no.
10:1520?
10:15No, Danielle.
10:16I think you're getting both of us, right?
10:17We're both doing just 10% equity in this deal.
10:22How about 18%?
10:23We got a deal.
10:24I'd do that deal.
10:28We have a deal.
10:29Let's go.
10:31My first Shark Tank deal.
10:33Oh, dear.
10:34My, too.
10:37Awesome.
10:37Yours, Terry.
10:38Yay.
10:39Thank you so much.
10:40I'm so excited.
10:41I'm so excited.
10:42Yes.
10:43Yay.
10:44Oh, my gosh.
10:46Thank you so much.
10:47I think you're doing well.
10:51It was delicious.
10:53Congratulations.
10:54Thank you.
10:54Thank you so much.
10:55Fantastic.
10:56Oh, my gosh.
10:56I am so excited to have Todd and Lori as sharks on board.
11:01Oh, my gosh.
11:03To think that we went from one store in 2017 and an idea on Topsail Island to Shark Tank here
11:08and two sharks is just unbelievable.
11:14I'm Todd Graves, founder, CEO, fry cook, and cashier of Raisin Cane's Chicken Fingers from Baton Rouge, Louisiana.
11:22I grew up in my mother's kitchen, and that's where I fell in love with food.
11:25It was time that we could spend together.
11:27To create a great meal to show our families and our friends that we love them.
11:30That was a big reason why I went into the food business.
11:33It was really my expression of love to people.
11:36It was very obvious for me when I was coming to graduate college that I'm like, I want to start
11:40my own restaurant.
11:42During my senior year of college, homeless chicken was getting really popular.
11:45Everywhere from large chains to moms and pops, it became a really big venue item, and I saw this trend
11:50going.
11:51So I had a good friend that was enrolled in a business planning class, and we spent that semester writing
11:55the business plan for Raisin Cane's.
11:57Turns out, the business plan gets the worst grade in the class.
12:00Professor said having a restaurant in South Louisiana only serving chicken finger meals will never work.
12:05But I'm a typical entrepreneur, you tell me I can't do something, I'm going to prove it to you that
12:09I can.
12:11I knew I needed to raise money myself for my dream, and I had a friend that was working as
12:15a bowler maker in a bowl refinery,
12:17and he told me he was making all kind of money because they were working over 90 hours a week,
12:21and he got me a job.
12:23One of those bowler makers was named Wild Bill Tolar, and Wild Bill told me, if you want to make
12:27some real money,
12:28you need to come up to Knackneck, Alaska and fish for sockeye salmon in Bristol Bay.
12:33During the peak of the season, we worked 20 hour days.
12:35Those two weeks, captains were making their income for the whole year.
12:39Commercial fishing in Alaska is a dangerous occupation.
12:42People were thrown out with the nets and drowned.
12:45People would hit their head and they had brain damage.
12:48And I didn't even think about the danger at all.
12:50I had this fanatical vision to open raising canes, and nothing was going to stop me.
12:55So I reached my goal of getting $50,000, head back to Baton Rouge,
12:59and I was actually able to talk a small group of investors into investing in me.
13:04I found an old, dilapidated building at the north gates of LSU.
13:08Within the first two weeks, we became a really slammed restaurant.
13:11We had LSU game days. The business doesn't stop all day.
13:14Fast forward to Raising Cane's today.
13:17Having over 800 locations, over 60,000 crew members.
13:21Today, Raising Cane's has done over $24 billion in sales.
13:26Being able to give back hundreds of millions of dollars to the communities we do business in.
13:31This is the dream. This is the American dream.
13:32Guys, this is shaping up to be one of our best years yet.
13:36I know how hard it is to start a business. I've lived it.
13:39I know what it feels like when people don't believe you.
13:41I've made so many mistakes, but I've learned from them,
13:44and I can help entrepreneurs along their journey to not make those same mistakes.
13:48I love Shark Tank's impact on the community.
13:50Growing business people like myself learn things from the show.
13:53That's what I really love is those teachable moments,
13:55learning from these amazing business minds about what makes business successful.
14:14Next into the tank is a special version of a favorite fried food.
14:25Hey Sharks, we're Cynthia and John David, the wife and husband team behind Life Raft.
14:31Sharks, we're seeking a $250,000 investment for 5% equity in our company.
14:38Now, Todd, I know your fried chicken is amazing, but I have to tell you, we are the experts in
14:47fried chicken.
14:47Uh-oh. We're gonna have a chicken off here.
14:50That's right, y'all. We make the most mouth-watering, crispiest, crunchiest, super bestest fried chicken in the world.
15:04Don't believe us? Taste for yourselves.
15:06Let's see.
15:07All right.
15:08I'll be the judge of this.
15:12Let's see here.
15:14I can't cut it.
15:16All right.
15:17It's frozen solid.
15:18Mm-hmm.
15:19It's frozen.
15:27Mm-hmm.
15:28That's a little bit different than the chicken I've had before. It's not bad.
15:31Let's see.
15:31Mm-hmm.
15:32Sharks, y'all have probably figured out by now that our fried chicken is actually...
15:37Ice cream!
15:38Oh, my God.
15:39Bring in the treats!
15:41Fried chicken ice cream.
15:42Oh, my God.
15:43Okay, that's just crazy.
15:45That's right.
15:45This is crazy.
15:46These ice cream treats are what we call not-fried chicken.
15:51It's really good.
15:52It's really delicious.
15:53Sharks, in front of you, you have samples of our signature nine-piece chicken bucket and also our retail packaging.
16:01To make our not-fried chicken ice cream, we take waffle ice cream, insert a chocolate pretzel bone, dip it
16:08in caramelized white chocolate, and roll it in cornflakes.
16:11I can't believe it's not chicken.
16:13Honestly, I thought it was, and it just froze in.
16:16So, do you do other things as well?
16:18Yes.
16:19That is our dairy-free peach bomb, and then we also make...
16:23So, that's ice cream as well?
16:24It's peach sorbet.
16:25So, it's dairy-free for our dairy-free friends.
16:27Those are our not-dogs.
16:29Holy crap!
16:30That's ice cream.
16:30It's totally all ice cream.
16:32The bun is mint chocolate chip ice cream.
16:33Really?
16:34The hot dogs are chocolate ice cream.
16:35This is so healthy.
16:36Oh, my gosh.
16:38What else?
16:39Let's see.
16:39That's our Father's Day dinner.
16:41All that's ice cream?
16:42It's all ice cream.
16:42Wow.
16:43It's really clever.
16:43Not really creative.
16:44Are we going to see that other stuff out here?
16:47Today, we're really focused on the chicken because it's really our hero product.
16:51So, how and where do you sell these?
16:53We sell them in about 500 retail locations across the country.
16:58In the frozen goods section, obviously.
16:59In the frozen goods section.
17:00Predominantly in the frozen goods section.
17:01Yes, sir.
17:01You're doing anything direct to consumer with dry ice?
17:03The bucket we ship direct to consumer.
17:05How much is a bucket?
17:06The buckets are $109, and that's delivered.
17:10Oh.
17:10What are your sales?
17:11Last year, we did $1.2 million in sales.
17:15Wow.
17:15You make any money on that?
17:16We made about 5% net operating income on that.
17:20This year, we've sold $750,000 a year to date.
17:24We're going to hit $1.7 million this year.
17:28Tell us about yourselves and how you got to this business.
17:31Well, the first thing you should know about me is that I'm the child of immigrants.
17:35You know, when they came here, it was the 70s, 80s.
17:38It was not a fun time to be an Asian immigrant in the Deep South.
17:42Where I was born in Charleston, at that time, the home they were living in,
17:46someone burned a cross in their front yard one night.
17:49Wow.
17:49And that didn't deter them.
17:51They gave us everything that we needed to make for ourselves.
17:55And that was the other thing that my parents gave me.
17:57Everything that I wanted, I had to work for.
18:01And not just work for, but work twice as hard, be twice as good.
18:06You know, I was a pastry chef in top-tier restaurants for years.
18:10An Asian woman in a male-dominated industry.
18:13And I didn't just hold my own.
18:15I was nominated for a James Beard Award at every single restaurant.
18:18I love it.
18:19Wow.
18:19Wow.
18:20So my parents gave me that.
18:21They gave me my toughness and my grit.
18:23And being an entrepreneur is not for the faint of heart.
18:25But I love the grind.
18:27If someone tells me I can't do something, it's like waving a steak in front of a wild animal's face.
18:32I love it.
18:34I love to chew.
18:35I love it.
18:36So tell us about you.
18:37After graduating the University of Georgia.
18:41Go Dawgs!
18:42Go Dawgs!
18:42I earned my MBA.
18:44Launched a career in retail.
18:46I worked for a large nationwide specialty grocer for about 10 years buying cheese and wine.
18:53And how did y'all come up with the name Life Raft?
18:56Well, I was a pastry chef.
18:57Instead of spending 70 to 80 hours a week working for somebody else for their dream, I needed to spend
19:03that time and energy on my dream.
19:06And so in my mind, while I was still working, I built myself a Life Raft.
19:12And I was going to get on that raft.
19:13That's cool.
19:13That's cool.
19:14I was going to get my little family on there.
19:15We were going to paddle away.
19:17Something better than, you know.
19:18It looks like it worked out.
19:19I want to ask you about where this is placed in frozen goods.
19:22Are you paying to play for slotting in most stores?
19:25We haven't paid to play yet.
19:27But you're not in any major big boxes, right?
19:29We're in Mariano's in the Midwest, and we're in Central Market in Texas.
19:34And do you know what it's costing you to acquire a customer, your customer acquisition costs on the direct business?
19:40We don't because we work through a third party, and so we haven't spent any money on marketing.
19:45They're taking 20% for that, right?
19:47Right, so part of what we want to do with this money is take the DTC in-house and revamp
19:53our website so that we're working that side of the business.
19:57Guys, look.
19:58What you've accomplished is amazing.
20:00I just don't like frozen foods.
20:02It's just an impossible business unless you really, really, really know it well, and I don't.
20:07So for those reasons, I'm out.
20:08But congrats.
20:10I mean, it's phenomenal.
20:11Thank you.
20:11Thank you very much.
20:12Thank you, Mark.
20:13Thank you.
20:14I don't know where I can add much value in frozen food.
20:17Can I help you with the DTC?
20:18Sure.
20:19But I just think there's more qualified sharks up here who love wine and cheese and various other things like
20:25that.
20:25So I love it.
20:27One of the most innovative things I've seen in my life, but I'm out.
20:31Thank you.
20:31Okay.
20:31Well, thanks, Damon.
20:32I have an entrepreneur in the refrigerated section, frozen farmer.
20:37We do ice creams and sorbets.
20:40I think you're kind of competitive with what we're doing there, so I'm going to take myself out.
20:46But I do wish you good luck, and I'll definitely be a customer.
20:49Thank you.
20:49Thank you, Lori.
20:50Guys, I'm trying to figure where this fits into my portfolio.
20:54You've got a great idea here, but you haven't blown it up.
20:58Every once in a while, there's a deal where this little Mr. Wonderful here is saying,
21:01do the deal, do the deal.
21:03And the other guy says, what are you, an idiot?
21:04Like, it's sort of, that's where I'm at again.
21:06Well, if I can just add something here.
21:09We have spent no money on marketing whatsoever.
21:11This is all completely organic.
21:13Listen, that's not good, because I don't know what the metrics are.
21:16I love it, but it's not deep fried enough yet to really invest in.
21:21That's the problem.
21:22I'm sorry, guys.
21:22I'm out.
21:24Okay.
21:24Thank you.
21:25Thank you.
21:29Are you going to do a deal?
21:32I love the story, and I love that entrepreneurial drive, right?
21:35Like you said, waving a piece of meat in front of a wild animal.
21:39You know, it's like when everybody told me that Raisin Cane's would never work.
21:42Serving just chicken finger meals, it won't work, right?
21:45Turned down by every bag.
21:46I was like, I'm going to show you.
21:48It's a fantastic product, and I think you're going to be very successful.
21:52I'm not into the frozen foods.
21:55It's, you know, Raisin Cane's is fresh chicken.
21:56This can't be on dessert.
21:58This doesn't work in your system.
21:59Here's the thing.
22:00So focusing on what you're good at, right?
22:01And so I've served the same menu for 28 years at Raisin Cane's.
22:06I've never changed anything with it because it's stuck.
22:08And that includes adding a dessert.
22:10So knowing what you're good at, not trying to be all things to all people.
22:14100%.
22:14Really makes you successful.
22:16Yeah.
22:16But because of that, I am out.
22:19Thank you.
22:20Thank you.
22:21Thank you, guys.
22:21Great product.
22:23Great product.
22:24Thanks.
22:24You're going to do great.
22:25Thank you.
22:26Thank you.
22:29It would have been really fun if Todd had made us an offer.
22:31It would have been really great.
22:32But I also have so much respect for him and respect for the fact that he said,
22:36stick with one thing.
22:38That's my advice for you to stick with one thing.
22:39And so that's what we're going to do.
22:40I finished the whole bucket of the chicken.
22:42Oh, my God.
22:43Mark.
22:44Mark, can I offer you another one?
22:58Next up is a solution for a common hassle with outdoor gear.
23:11Hey, Sharks.
23:12I'm Zach.
23:13And I'm Steven.
23:13And we're seeking $300,000 for 7.5% stake in our company, Rig Strips.
23:19Sharks.
23:19We both love to ski.
23:21We've been doing it since we've been kids.
23:22And I'm usually the one driving us to the mountain.
23:24After a great day of skiing, we're tired.
23:27And all we want to do is get in the car and drive home.
23:30Typically, you're getting back to your car.
23:32You have your skis in one hand and poles in the other.
23:35But wait.
23:36I've got to unlock the car door real quick.
23:37I have to lean these somewhere.
23:40Whoa, whoa, Zach.
23:41Come on again.
23:41You always lean those sharp edges against my head.
23:43And let them crash to the ground, leaving behind a huge scratch.
23:48Well, Sharks, we knew there had to be a better way.
23:50And that's why we created SnowStrip.
23:53No more scratching your paint with ski or snowboard edges.
23:57And no more throwing your skis or snowboards on the ground.
24:00Our SnowStrip has a patented design that applies magnetically
24:03to the outside of your vehicle.
24:05So you can lean your skis or snowboard worry-free.
24:10Now, let's fast forward to the summertime.
24:12And we've got you covered on those fishing trips with the SunStrip.
24:18No more scratches to your paint from your expensive falling rods.
24:21And no more snapping them and closing doors or tailgates.
24:25Sharks, we've saved a ton of outdoor gear and vehicles from getting scratched.
24:30But we need your help bringing our innovative products to more customers.
24:32So who's ready to hop on board for the ride of a lifetime as we make every adventure stress-free
24:37one epic day outside at a time?
24:40Sharks, you should have a sample of both the SunStrip and the SnowStrip in front of you.
24:44Please take a look.
24:45So is this magnetic? How does this adhere?
24:48And then is there also, if I peel this off, there's sticky backing?
24:51So we have a magnetic one and an adhesive one.
24:54Our magnetic one is great for 90% of cars because they're magnetic.
24:58We also have an adhesive one because 10% of cars are aluminum.
25:02You know, really very clever.
25:03I mean, it's just the simplest little thing, but it's a pain point.
25:07What made you think of this?
25:08Yeah, so that exact thing actually happened to us in 2019.
25:11We were skiing in Colorado and later that year we were sitting at a bar and I was talking to
25:16Steven about this idea I had for some kind of like a bumper sticker or something that could solve this
25:21problem.
25:22I ended up drawing on the back of her seat at that bar, still have it with me.
25:25And then we ended up launching with the adhesive version, got immediate feedback from our customers that they wanted a
25:31magnetic version.
25:32So listening to them really took off from there and then a couple of years later we heard more feedback
25:37saying, hey, you should make one for rods.
25:39So we've just been listening to our customers really and growing ever since.
25:42Yeah, so I'm both a skier and a fisherman and I see the need for this.
25:46Yeah, absolutely. I do both and have the same problem every time.
25:50And you're laying up against the side, they fall, sometimes you get rods broken, they're not cheap.
25:54And so I definitely see the need.
25:55Who else is doing this?
25:56So on the snow strip side, we really don't have any direct competitors on the sun strip for the rods.
26:01We do see a couple of competitors on Amazon, but we're really the main name brand in the space.
26:06So to date, we've sold over 60,000 units.
26:09Wow.
26:10So what do they cost to make and what are you selling them for?
26:12So landed, the snow strip is $8.50 and the sun strip is $7.
26:17We also handle shipping for our customers, which is around $8.50.
26:22We sell them for $50.
26:23So give us the whole breakdown on total sales, all that kind of stuff.
26:26Yeah, so we've done $3 million in sales.
26:28Woo.
26:29Hello.
26:30Wow.
26:31Pretty good bar idea, huh?
26:33Pretty good bar idea, Mark.
26:34How many years?
26:35Over what period of time?
26:36Since 2020.
26:36And then more than half of that was actually last year.
26:38So we have that exponential growth.
26:39Yeah.
26:39What about this year?
26:40What are you going to do?
26:41We're planning on doing $2.7 million this year.
26:43And you're just doing paid social?
26:45The only thing we've done to date is meta ads.
26:49And so one of the reasons we think we can really hit that $2.7 million goal this year
26:52is by expanding our marketing into other, you know, D2C marketing opportunities.
26:58So do you know your customer acquisition costs?
27:00It's $10.
27:00Something that's important to note is 62% of our sales happen in November and December.
27:06Really?
27:06Dude, shocking stuff.
27:08Wow.
27:08People love it.
27:09It's the gift idea.
27:09It's a big gift idea.
27:10Has it changed your life yet?
27:12Have you made any money?
27:13Yeah.
27:13So from a profit perspective, our EBITDA last year was $450,000.
27:18That's damn good.
27:19Wow.
27:19Wow.
27:20Is it protected?
27:21Do you have patent on these?
27:22So we do have design patents on both the Sun Strip and the Snow Strip as well as the
27:25trademarks.
27:26We really think that our main barrier right now is just our brand name and recognition.
27:31Look, I see it more as a product than a company, right?
27:34And plus, I'm not the outdoorsy type, so it's not a fit for me.
27:37So for those reasons, I'm out.
27:39Thanks, Mark.
27:39All good.
27:40Thanks, Mark.
27:40Appreciate it.
27:40The $300K scares me away.
27:43I mean, your valuation at $4.6 a little rich.
27:46$300 is a chunk of change.
27:47You know, it takes me a while to make $300K, and I cry like a baby when I lose it.
27:52But I'm not saying I would with you.
27:54It's just too much effort to squeeze you like teenage pimples to get what I want.
27:59Ew.
27:59So I'm going to pass.
28:00I'm out.
28:02So what are you looking for in a Shark, and what are you going to do with the $300K?
28:06Honestly, what we really are looking for from a Shark is helping us with our marketing strategies.
28:10We want to focus on other direct online routes as well.
28:14The $300K is going mostly to inventory.
28:19We're going to need to make even more product to hit that $2.7 million figure later this year that
28:24we're trying to hit.
28:25That also gives us about $50K to play around with those other marketing channels.
28:29Well, look, I'm a user of a product like this.
28:33I do see the demand here.
28:34And at the marketing end, I'm good at it.
28:36And I've got a whole team behind me that does it, right?
28:39So I started off the first way I marketed Raising Cane's.
28:42First location was making copies of Kinko's and putting it on everybody's windshield.
28:46Those cost me about a half a cent a piece, right?
28:49Get them out there.
28:49And so I don't like spending big dollars on media.
28:52We're really good at it.
28:53And the Canes will have a whole team behind me that can do this.
28:56So you want $300K to 7.5% of the company.
28:59I think you're doing great.
28:59I love that $450K of EBITDA last year.
29:03But I think your valuation is a little high.
29:05So what I'll do is offer you $300K for 20% of the company.
29:10Bill.
29:13Well, that's an offer.
29:14It's better than nothing.
29:15Yeah.
29:16Let's get that excitement up, boys.
29:17We are very excited for that offer.
29:19Let's be clear.
29:20We're very excited about it.
29:22It definitely is a little bit high for what we were looking to do.
29:27I think he gave the right offer.
29:29I do.
29:31$300K for 7.5%.
29:33It's just, I don't know.
29:35It doesn't excite me enough.
29:38So I wish you good luck.
29:39But for this one, I'm sorry.
29:41I'm out.
29:42All good.
29:43Thanks, Larry.
29:44And just to go back to your offer, again, thanks so much for it.
29:48I think it was 1.5 valuation does seem a little bit low for us.
29:52We came in with a $4 million valuation,
29:54wondering if we could go to $300K for 10% of the company,
29:58which would be at a $3 million valuation.
30:00Cool.
30:01How about $300K for 15%?
30:04Yeah.
30:05Would you meet us somewhere in the middle between there?
30:06Just so we can shake your hand right now
30:08and have a great time running this company together.
30:10As opposed to what?
30:11Shaking it later after you hit 15%?
30:13Yeah.
30:13He gave you a good offer.
30:19All right.
30:20Yeah.
30:20Well, let's take it.
30:21Go!
30:24Good job.
30:25Wow.
30:25Awesome, guys.
30:26This is great, man.
30:27Thank you so much.
30:28I believe in y'all.
30:29I believe in y'all.
30:30I love the product.
30:31I love your users and the whole business.
30:33Let's go fishing and skiing.
30:34I'm going to do that.
30:35That would be awesome.
30:35You tell me when we can fish this summer,
30:36we're going to ski this winter.
30:38Oh, that would be amazing.
30:38We love it.
30:39Great, guys.
30:39Thanks so much.
30:40Thanks, guys.
30:40Great job, guys.
30:41Congrats, guys.
30:45Let's go.
30:46So sick.
30:49Wow.
30:49So exciting.
30:50Let's go.
30:51That's exactly what we were looking for.
30:53It's honestly a little bit, like, surreal right now.
30:55I can't believe we just...
30:56A little bit in shock.
30:57That's insane.
30:57I mean, like, we really wanted Todd.
30:59Yeah.
30:59We really wanted Todd.
31:00I mean, he's a fisher.
31:01He's a hunter.
31:01Raising canes, doing one thing really well, blowing it up.
31:04That's exactly what we need.
31:16Next into the tank is the backyard version of a popular sport that anyone can play.
31:27Hey, Sharks.
31:29My name is Tyler.
31:30I am a scratch golfer, and I'm the founder and CEO of Bucket Golf.
31:34And I am Jenny, Tyler's younger sister.
31:36I'm a 40 handicap golfer.
31:39And I'm the COO of Bucket Golf.
31:41We are seeking $1 million in exchange for 10% of our company.
31:47There you go.
31:47One of the best feelings in the world is when you get that pure, buttery contact, and your ball lands
31:55one foot from the pit.
31:57It's an addicting feeling that you crave to find over and over again.
32:03Sharks, I don't know about you, but I have no idea what Tyler's talking about.
32:07I only play golf a couple times a year, but I love playing backyard games with my family and friends.
32:13Now, imagine if you could take that excitement of real golf and combine it with the ease of backyard games.
32:21That's why we created Bucket Golf.
32:23It's a portable par 3 golf game you can play anytime, anywhere, with anyone.
32:29And the best part is it never gets old due to the ability to custom design your course each time
32:36you play.
32:37Bucket Golf takes the entire game of golf and packs it down into that bag right there.
32:43And we know that some of you may not be the biggest fans of golf, but this isn't golf.
32:48This is Bucket Golf.
32:51Sharks, we've set up the first ever golf course inside the tank.
32:56Who's ready to tee off with us?
33:02Oh!
33:03Oh my god, that was so close!
33:06Lori, Todd, do you want to grab a club and come on up and jump?
33:09Oh my gosh.
33:10Let's see if I can do it in these high heels.
33:12I'm no scratch golfer.
33:14So the first step is when you play Bucket Golf would be to custom design your course, which is one
33:18of the best parts of the game.
33:19We already set it up out here.
33:21Each hole is a par 3, which means you have three shots to hit the bucket in order to get
33:25a par.
33:26Hitting any part of the bucket counts as scoring, but if you're able to sink it inside the bucket, you
33:32get to subtract that stroke off your score.
33:34And then the lowest score at the end of all the holes is the winner.
33:37So bottom line, try to hit the bucket.
33:40Yes, exactly.
33:41Hit the bucket.
33:42Okay.
33:42Lori, do you want to go first?
33:44All right.
33:46Okay.
33:49Oh!
33:52You're a hero, Lori!
33:54Unreal.
33:55Wow.
33:55No pressure, Todd.
34:00Oh!
34:02I didn't nick it, right?
34:03I didn't nick it.
34:03We'll count it.
34:04Thank you, that was fun.
34:05No problem.
34:06I got to tell you, I don't say I hate golf.
34:09I haven't tried it enough.
34:10I hate the concept of it, but this, I can actually see that I would like it, that I can
34:17say to my friends and family, come on over, we'll play that.
34:20So I love this whole new kind of concept or pivot on it.
34:24It makes it fun and easy.
34:27Like you don't have to be a good golfer, you don't have to ever golf.
34:29It's fun.
34:30It's a fun game.
34:30Maura, do you play?
34:31I think we know how the game works.
34:33I really do.
34:33But I think I'm going to give you a mulligan on your ass, because you said 1 million bucks for
34:3710%, imputing a $10 million valuation.
34:41You're always so good at math.
34:42Wait a second.
34:42Tyler, honey, sweetie, poopsie baby, bring the sales.
34:48When we first started, I knew absolutely nothing about e-commerce business.
34:53And in the first three years, I did a whopping $5,000 in sales.
34:58I could not figure it out whatsoever.
35:01One of the biggest problems I thought is that the set that we originally made is not like the one
35:06you guys see out here today.
35:07We started with these soft, flexible, plastic buckets.
35:11And they were pretty big.
35:12They were more expensive.
35:13It was tough to ship.
35:15And then I'm not joking.
35:15I was walking by my roommate's room.
35:17He was throwing his dirty laundry into a pop-up laundry hamper.
35:20And it was kind of just like the light bulb went off.
35:22I was like, I don't know how I didn't think of this in three years.
35:24But like pop-up buckets instead kind of like would fix all the problems I was having as far as
35:29like the weight, the shipping and everything.
35:31Like that.
35:31And then from there, it just like kept snowballing, snowballing, snowballing.
35:35And what year is that?
35:36That was in 2021.
35:37And then 2022, we did $2.5 million in sales.
35:43In 2023, we did 5.9.
35:45And then this year, we are on track to do over $12 million.
35:49Good for you.
35:50How much are you going to make on the $12 million?
35:53So we are on track to make somewhere between 15 to 20%.
35:57How much does it cost you to make it?
35:58And what do you sell it for?
35:59So our best seller is our nine-hole bundle.
36:03That we sell for $1.99.
36:05And landed cost is $60 for that.
36:08So you're selling these direct.
36:09There's not enough margin for retail in this.
36:11So we're online sales.
36:13And Amazon, that covers about like 85% of what we do.
36:15So the $1.99 cost on your product, right?
36:19How does that compare with other games like this, Spike Ball, for example?
36:23A former Shark Tank product?
36:25Yeah.
36:26Great success.
36:26My heels.
36:29It's higher.
36:29Like I think Spike Ball sells for around like $75.
36:32But that's their cheapest model.
36:33They have like, they have a ton of different models that go up to like $300.
36:36Do you have any competitors in the space right now that are selling similar products?
36:40No, not really.
36:40Because it would be hard to knock it off.
36:42So yeah, we've had a decent amount of people trying to knock us off already.
36:46And we do have, we have a design patent that's pending that hopefully when it goes through,
36:50we'll be able to stop almost every one of them.
36:51What do you want the million bucks for?
36:54What do you need that for?
36:55So what we would use that for is bolstering up our inventory.
36:59Because like we have yet to make it through a busy season without running out of some of our best
37:04products.
37:05What are you looking for in a Shark?
37:06What we're looking for in a Shark is like the operational side of things.
37:12That's been very tough for us to master and keep up with like our ability to market and sell.
37:17Like the last six weeks, we've pretty much had our entire team has been in the warehouse helping packing orders
37:23because like we can't really get it down.
37:24Logistics.
37:25You need a Shark for logistics.
37:28Look, if you wanted to blow it up like a spike ball who figured out retail too.
37:32They didn't just do direct.
37:34There's nothing wrong with what you're doing.
37:35If you actually hit 12 million, you pull out 2 million bucks free cash flow.
37:39That's a good business.
37:40What's wrong with that?
37:41But if you want to do $100 million worth of this, you're not going to do it that way.
37:45It's going to have to be done through distributors.
37:47It's a different game.
37:48I mean, if you are interested in doing that, I'll make you an offer.
37:51I'll give you the million bucks.
37:53I want 25%.
37:53And the reason I want that is the distributor is going to take a piece.
37:58Well, they don't take a piece.
37:59What they're going to want is a percentage of everything that's sold.
38:01Laura, you do your deal your way.
38:03I do my deal my way.
38:04Boy, you're a little frisky.
38:05The way I like to do it is you don't have enough money to finance inventory.
38:11That's an offer.
38:12It's a million bucks.
38:12I want 25%.
38:16All right, so listen.
38:17I like the deal.
38:18I think I can help grow this thing globally.
38:20And you need that type of help.
38:22I'll match Kevin's offer.
38:24I think this could be $150 million annual company.
38:28That's where this can go.
38:30So that's my offer.
38:32$1 million for 25%.
38:36Same offer?
38:37Yeah.
38:38Look, I love the two of you.
38:40But I want to be excited about everything I invest in.
38:43And I'm just not filling it with this business.
38:45And for that reason, I'm out.
38:47Thank you.
38:47Wish you the best of luck.
38:49Thank you.
38:50Thank you.
38:50So, I'm going to make you an offer.
38:54I will give you the million dollars for 22 and a half percent.
38:57Oh, you savage.
38:59But...
38:59What a royalty watch.
39:01I want preferred stock.
39:02So, when you give yourself distributions, you give me distribution too.
39:07Okay?
39:08Thank you.
39:09Thank you for your offer.
39:10Are you a little surprised where these bids are coming in at?
39:12Because, you know, you're not worth 10 million bucks.
39:16But...
39:16Well, you have some offers on the table, but I think...
39:18Three offers.
39:19Mark, are you still in?
39:31One shark is out.
39:32Tyler and Jenny have three offers on the table for their backyard golf product, Bucket Golf.
39:39Well, you have some offers on the table, but I think...
39:40Three offers.
39:41Mark, are you still in?
39:44Yeah, I'll make you guys an offer.
39:45A million dollars, 15%.
39:47It's not really a stipulation, but when you do distributions, I get distributions, right?
39:51So, there's no preferences to you.
39:53A million for straight 15.
39:57He always undercuts us.
39:58He sits and waits...
39:59I just do the math.
40:01What do you say to that offer?
40:03We love that offer.
40:05Would you go a million for 12 and a half?
40:10No.
40:11Come on.
40:12I'm gonna bring enough value that it's gonna be worthwhile.
40:14Just the fact that I hate golf and I'm gonna do videos of doing this.
40:18You know, I mean, we can do demos at a PGA event or whatever.
40:22There's a lot of ways that we can build visibility.
40:24Well, I just think there's a bit of a warning when someone says, I hate golf, but you're selling golf.
40:30But this isn't really golf.
40:32I'm gonna do this too as well.
40:33This is fun.
40:33This is very fun.
40:34You got four offers on the table.
40:35What are you guys gonna do?
40:47I've seen one of your news where you do talk about one of the biggest misses you had on Shark
40:52Tank, you said, was spike ball.
40:54Yep.
40:54And not grabbing spike ball.
40:55We truly think that, like, we are going to be the golf of spike ball.
40:59I agree.
41:00That's why I made the offer.
41:01We put so much time and energy.
41:03You don't have to sell anymore.
41:04What are you asking me?
41:05Four offers.
41:05Is there any way that you can come down and meet us in the middle at 12.5% here
41:11with just, like, we have everything going.
41:14Like, our brand is great.
41:15Our customer service is great.
41:16I'm pretty great, true.
41:17Oh, I know.
41:18You should, you know?
41:19I'll do that deal.
41:21I'll do that deal.
41:2412.5%.
41:28I'll do that deal, too.
41:3112.5%.
41:32Suckers.
41:34Now you're the sharks.
41:38Do we have a deal?
41:41All right.
41:42Mark.
41:43You got to go.
41:45Well, you saved them 2.5%, Lori.
41:47That you did, Lori.
41:48Congratulations.
41:49Thank you so much.
41:50Great job, guys.
41:51Thank you so much for really good working.
41:52Thanks, guys.
41:54Bye.
41:54Take care, guys.
41:55Thank you.
41:56Woo!
41:58Yes!
41:59So we chose Mark's offer over Lori's because we felt he had a little bit more of a sports background.
42:04which is kind of more in line with our game.
42:06He is the perfect partner for us to take this to a whole new level.
42:09Mark did that to me not so long ago.
42:11Oh, I knew that's why you did it.
42:13I knew that's why you did it.
42:13Yeah.
42:14Payback's a bitch, Mark.
42:15I knew it did it, it was the perfect partner.
42:51A CIDADE NO BRASIL
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