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00:00A CIDADE NO BRASIL
00:36First into the tank are champions hoping to win in a competitive space
00:49Yo, yo, yo, what up sharks? I'm Aaron Ross
00:52And I'm Sonya Richards Ross
00:54And we are so excited
00:56Oh my goodness, I'm sorry, I'm never so nervous
00:58You're good, baby
00:59All right, let's do it
01:00You ready?
01:01Yes
01:01Let's get it
01:02We're here seeking $100,000 for 10% of our company
01:06Now sharks, as athletes with our own unique style, swag, and flair
01:09We always knew when you look good
01:11You play good
01:13So if we wanted to continue winning as a family
01:15We needed to
01:17Coordinate
01:18So we created Coordinate, a pajama and loungewear company that elevates everyday moments into lasting memories
01:25And as a dad, I love when my family coordinates because everybody knows that's my crew
01:30And we want you to be proud to show up with your crew too, especially at the most wonderful time
01:35of the year
01:35Christmas
01:36Now sharks, we know you see it, but our Christmas collection puts the cool in Christmas
01:40By bringing the swag to Santa
01:42And coordinates isn't just about the holidays, we've done some really cool collaborations too
01:47With the Olympics coming back to the US, our team USA collection will have you beaming with pride
01:52So sharks, who's ready to coordinate with us and join our movement of matching?
02:01Boom
02:02Good job, good job
02:03That is one cute baby
02:05That is
02:08Thank you guys
02:09All right
02:10Sonia, is that your whole family there?
02:12That is, so that was my mom and our two boys and my husband's mom
02:15So the grandmas and the babies
02:17I recognize you from football, right?
02:20Yes sir
02:21And you went to UT, right?
02:22UT
02:22Yeah, okay
02:23How do you know that?
02:25Because I live in Dallas, right?
02:27Yes, yes
02:27Oh man
02:28You guys tell us your stories
02:29Awesome, I was born in Kingston, Jamaica, where track and field is the most popular sport
02:33By the time I was nine, I told my teacher I would be an Olympic champion
02:37Well after a lot of hard work and dedication in London, I finally ran into my fairytale ending
02:43When I won my Olympic gold medal at 400 meters and my...
02:47Wow
02:48Yay
02:50And now I am a loving wife, I am a mom, and of course an entrepreneur working on the most
02:57important project with my husband coordinates
02:59How long did it take you to do the 400?
03:01I'm the American record holder, so my time is 48.7 seconds
03:05Wow
03:05It's insane, it's insane
03:07So for me, I grew up in Texas, and if you know anything about Texas, football is king
03:13It's everything, yeah
03:13Balled out, got a scholarship to go to the University of Texas, and I met my wife, junior year we
03:20won a national championship
03:22That's the Vince Young game, right?
03:24The Vince Young
03:24Yeah
03:24The Vince Young and Aaron Ross game
03:28Senior year, won the Jim Thorpe Award, which is given to the best defensive back in all of college football
03:34The next year, got drafted first round to the New York Giants, won two Super Bowls with them
03:38And now, I'm a proud family man, just so...
03:41What a story!
03:43So let's get this straight, the kids can say, my parents have two Super Bowl rings and a gold medal
03:47at the Olympics
03:48Four gold medals!
03:49Four gold medals!
03:50Four gold medals!
03:51Underachievers!
03:52Alright, so let's get to this, so this is actually, I just felt it a little bit, very, very nice
03:58quality
03:58Thank you
03:59And this is how you're selling it, and the concept is for the family to match, or?
04:03Yes, I love coordinating my family, since I met them in college, we've been always matching, and so for me
04:09Wait, wait, wait, wait, since freshman year, you would walk around campus matching?
04:13I just always feel like it's a really nice experience when people know that we're together
04:18You had to get killed!
04:20I could see you going to practice!
04:22I wanted to win it at first!
04:23What you doing, man? What you doing?
04:24I used to fight, we would fight with it every time!
04:26Know why he did it? Because he'd be the first one to be like, let me see the pictures!
04:28The pictures were nice!
04:29Especially when the family came about, and so for us, it's more about helping families create, you know, memorable moments
04:35So I don't know if you know this, but I invested in what is now a big pajama company, Tipsy
04:40Elves
04:41Yes, yes
04:41We're doing many, many hundreds of millions, I love fun stuff, people buy this stuff
04:47Yeah, mm-hmm
04:47How do I order this? Is this an all online?
04:50Yeah, so right now we're currently all online
04:53We launched with our Christmas collection last year, and we sold out right away
04:56Like you said, people love the Christmas collection, so they went online and bought it
04:59What are your sales?
05:00$25,000 in one month
05:02One month
05:03This is our second collection, which was the USA set, and we had it for three months, and we made
05:10$55,000
05:11This year?
05:11This year
05:12This year
05:12What do they cost? What you're wearing, what do you sell that for?
05:15This is a set and it's $89,000
05:17What does it cost you to make?
05:18What does it cost you to make?
05:19This is $27
05:20Really not a big price at all
05:21And that's gonna go down as our quantity goes up
05:24Sonia, how did you get the license for the Olympics?
05:27We knew we didn't want it to be a seasonal collection, right?
05:29We didn't want to just focus on Christmas
05:31I called up the CEO of USA Track and Field
05:33He put me in touch with the USOC, and I charmed him like we're doing today
05:37And are you the exclusive?
05:39We're the exclusive pajama and loungewear partners of Team USA
05:42Through 28
05:43Through 28
05:44This is massive that you were able to do that
05:46Thank you, thank you so much
05:47Sonia, I'm not clear, what is the brand?
05:50Like when I invested in Tipsy Elves
05:52Yeah
05:52It was just ugly Christmas sweaters
05:54Right
05:54But the brand was fun
05:56Yes
05:57I was able to take super fun, cool
05:59Right
05:59Into pajamas
06:00Into ski wear
06:01When I see this, what do you want me to think?
06:04I want you to think about creating lasting memories with your families
06:08Coordiness is a tough name, right?
06:09Because it can mean a thousand things
06:11Yeah
06:11I think to Robert's point
06:12Yeah
06:12With Tipsy Elves, you know it's kind of fun
06:14Okay
06:14Like with Yo-Yo-Yo, like if you can get that trademark
06:17It should be Yo-Yo-Yo clothes
06:18Yo-Yo is it right there
06:18Yo-Yo-Yo
06:19When I think of Coordiness is coordinating your family
06:21So a lot of times you're coordinating events
06:22But you have to always explain that though
06:24Right?
06:25Yo-Yo-Yo is it?
06:25You never want to have to explain your name
06:27Yeah
06:27To make sure it connects to people
06:29But if it was like Yo-Yo-Yo loungewear or clothing or family wear or whatever
06:33That's why we're here?
06:34Yeah
06:35So look, I'm really impressed
06:37We've never had this much gold
06:40Right?
06:40Hard whip
06:41Yeah, and hard whip on the carpet
06:43This is crazy
06:44Thank you
06:44Congrats
06:45But this is not my space
06:46However, there are a couple of sharks here that have gone down this journey multiple times
06:50Not a deal for me
06:51Thank you very much Adam
06:52Thank you
06:52Yeah guys, I'm kind of in the same boat, right?
06:56I'm just not the clothing guy
06:57Even though I am a fashion icon
06:59But for those reasons I'm not
07:01Well thank you
07:02First of all, so impressed with both of you
07:06But I don't really know the clothing business
07:08And you know, Robert and Damon, that's their thing
07:12On this one, it's better if I go out
07:16Thank you
07:16Thank you, Laurie, thank you
07:17So, you've only tapped into just a small amount of your IP value
07:24Yeah
07:24Who you both are
07:26It's worth millions of dollars
07:28Millions of dollars
07:29This is an insult
07:30The money that we would give you for this
07:33All due respect to this business
07:35It's just too early for me
07:36And I think there's way more value on the other side
07:38So I'm out
07:41Sir, thank you
07:42Sonya Aaron, your story, it's authentic
07:46Creating an authentic brand is super hard
07:49The one thing you didn't talk about
07:51I'm putting my glasses on because I'm old is
07:53I wanted to say
07:54We have to tell them this
07:56Can we tell you about that?
07:58Like, Sonya
07:59Yeah
07:59I'm reading this
08:00Yes
08:02Resilience
08:03Yeah
08:03Focus
08:04Hard work
08:05Dedication
08:06Yeah
08:07Courage
08:07Excellence
08:09Why is that not the brand?
08:12Yes
08:12You are winners
08:14Yes
08:14This is so motivating
08:16Thank you
08:16My husband always said that
08:17That's true, Robert
08:18Robert, that's a good point
08:19That is true
08:20Man, see, you're confusing me
08:22Yeah
08:22Why is Live the Dream not the name?
08:25Yeah
08:25Right
08:25Well, I mean, that's what, listen
08:26We spent 30 years dedicated to sports
08:29And we became the best at it
08:30Right
08:31So we are now learning business
08:32And we truly do want to be great
08:34And so we know if we partner with somebody
08:36With our drive
08:37With our dedication and hard work
08:38We know we can be great
08:39Right
08:40But we're just figuring it out as we go
08:41Sonya, why are you so emotional about this?
08:44She's passionate
08:45The one thing about my wife
08:46I mean, she wears a heart on her sleeve
08:49And she's a grinder
08:51She's a go-getter
08:52I'm not saying it's just because it's my wife
08:54But anybody that you want to do business with
08:56Or just have on your team
08:58Is her
08:58I know for every husband
09:01You want to get a partner
09:02That's going to pull greatness out of you
09:04And she's pulled greatness out of me
09:07So anything she puts her mind to
09:11I know she's going to achieve it
09:14It's also really important to us too
09:15Because as athletes, I think
09:17When you start making all this money
09:19A lot of times you don't have a lot of guidance around you
09:20And a lot of people took advantage of us
09:22At the beginning of our career
09:23Financially
09:24And so now I feel like we can do something
09:26That's legacy building for our children
09:27So I'm really motivated
09:29By doing this for my family
09:30And so I feel like this is an opportunity
09:32To really rebuild
09:33And be able to pass on something to our children
09:35And for us it's not about the money
09:36It's about the relationships
09:38The mentorship
09:39Yeah
09:40Aaron, it is about the money
09:42Look, never sell yourself short
09:44Yeah
09:44You guys have achieved something
09:46Nobody up here would ever achieve
09:48Thank you
09:48I think the brand is just so confusing to me
09:51But I'm torn
10:13You guys have achieved something
10:15Nobody up here would ever achieve
10:17Thank you
10:17I think the brand is just so confusing to me
10:20But I'm torn
10:22Like half of me is like
10:23Make an offer
10:24Oh my gosh
10:24I love these people
10:26We'll figure it out together
10:27I love the words
10:28We'll figure it out together Robert
10:29We'll figure it out together
10:30But the other half of me is like
10:32You did 25,000 sales last year
10:35You did 50,000
10:35Yeah but we did a really small run
10:37We did a really small run both times
10:38Because we just wanted to test the market
10:40Right
10:40So especially the Team USA stuff coming up
10:42I mean we know we're gonna kill it
10:43Are you open to
10:45We're open
10:46Changing some of the branding
10:47Yes
10:48Yes
10:48100%
10:49We're very coachable
10:51We want to build a successful business
10:53Okay
10:53And we want it to be authentic to who we are
10:54I'm very good at this
10:56I'll give you the 100,000 for 25%
10:59It's super early
11:00To me you're almost like a start-up
11:03I'm investing in you
11:05Yes
11:05That's what we want
11:06And I know the work
11:07And I'll work with you on it
11:08100,000, 25%
11:10Would you do 100,000 for 20%?
11:13Yeah
11:15I'll do that
11:16Look at you DJ
11:18Oh
11:18Hey
11:19Yeah
11:20With all due respect to my friend Damon
11:22He's a great guy
11:23I am living this space
11:25Right now
11:26I've lived this space for 16 years
11:28Well I'll say this
11:29Um
11:30I appreciate you staying with us the whole time
11:33You know
11:33And getting to this point
11:38I love Damon
11:40But would you do it for 20%?
11:48All right
11:49I'll do it for 20%
11:51All right
11:52I'll do it for 20%
11:52All right
12:05I'll do it for 20%
12:07Yes
12:09Congratulations guys
12:11Hey
12:12Hey
12:12Hey
12:13Hey
12:13I think you want to partner with somebody
12:15Who really wants to partner with you
12:16He believes in us
12:17And the fact that he just stayed there with us
12:18And he talked
12:19And babe you are so right about the words
12:22Thank God we gave Robert that collection
12:24Because had he not seen it
12:26He would have maybe not really made the connection
12:38Last season Heather Kelley came into the tank
12:40With her gourmet camping meals company
12:42Heather's Choice
12:43And she revealed that her company was barely surviving
12:46The reason I feel really beat up is I didn't make payroll yesterday
12:50Ouch
12:51And if you were to look at our balance sheet
12:53You'd be like how on God's great earth is this girl still alive?
12:57The Sharks gave her some stark advice
12:59There are a huge market out there
13:01Of other consumers who would love this food
13:03I see somebody afraid to say yes
13:04You have to make it yourself
13:06You won't use a cold packer
13:07You've got to get out of your own head
13:08Heather left the tank without a deal
13:10Let's see how she's doing now
13:12When I walked into the tank
13:13I had been running the business for nine years
13:15I had about five million dollars in lifetime revenue
13:18I also had a million dollars worth of debt
13:21And I was completely out of cash
13:23When I got my final no from the Sharks
13:26I walked out of the tank feeling like it was all over
13:29I either have to decide this is the fate of the business
13:32Or I'm going to continue to fight
13:33After our air date I received outreach from the Sharks
13:37I received a ton of feedback from our customers
13:40And Shark Tank viewers
13:41And everybody said loud and clear
13:43Don't compromise the quality of your product
13:46And just keep going
13:47This is why they pay us the big bucks
13:49The really loud advice from the Sharks was
13:52Whether leading college students or busy moms
13:55We would need to be selling to a much wider audience of people
13:58And finding fulfillment partners in the lower 48
14:01With this move to a co-manufacturing model
14:04We're able to essentially save tens of thousands of dollars every year
14:08Just on freight to and from Alaska
14:10We're expecting by the end of the year to have a co-packing partner
14:14A 3PL
14:15And to be fully set up in the lower 48
14:18So that Heather's Choice can take off
14:20Since taking the Sharks advice and expanding into new markets
14:24We've done a million in revenue in the past seven months
14:26We are slowly chipping away at our debt
14:29We have cash in the bank
14:30And the business is healthier than it's ever been
14:33We are celebrating 10 years of Heather's Choice
14:37And I could not possibly be more excited for the next decade
14:42Going on Shark Tank was such an eye-opening moment for me
14:45Of I wasn't thinking big enough, which is wild
14:48And I also wasn't open to the possibility of Heather's Choice being more than a backpacking food brand
14:54The Sharks were the catalyst that helped me break free of the one thing that was holding me back
15:00And that was myself
15:02The advice I would give to other entrepreneurs is to surround yourself with people like the Sharks
15:08Who are going to force you to think bigger and to be more audacious in the goals that you set
15:28Next up is a new take on a classic holiday tradition
15:43Hello Sharks, my name is Jenna Hess, I'm from Frisco, Texas, and I am the founder of Gnome Advent Calendar
15:50I am seeking $45,000 in exchange for 10% of my company
15:56Sharks, I am bringing the magic of the holiday season to life in a whole new way
16:02Introducing the Gnome Advent Calendar
16:06A whimsical and enchanting way to count down to Christmas
16:10Our beautiful Advent Calendars open up a magical portal revealing a gnome-filled world
16:16Each day unveils a unique gnome, bringing joy and excitement to kids and adults alike
16:23These gnomes are handcrafted with intricate detail and made from high quality fabrics
16:29Our designs are inspired by Scandinavian folklore
16:33Bringing a touch of charm and magic into your home
16:36But we don't just bring gnomes into your home during Christmas time
16:40We also offer Advent calendars for other holidays
16:44Like Easter Bunny approved daily gnomes for Easter
16:48And 14 adorable love themed gnomes for Valentine's Day
16:53And we can't forget about Halloween where we got 31 days of spooky gnome fun
17:01We are truly building holiday traditions that families can look forward to for years to come
17:08The Advent calendar market is a growing billion dollar industry
17:14With consumers looking for more unique and high quality options
17:18So Sharks, who's ready to be my gnome?
17:22It's for tradition and holiday cheer one gnome at a time
17:27Great line, great line
17:29Great line
17:30You each have your own gnome advent calendar
17:32And thank you so much to my gnomes
17:35Y'all can now go back and play in the garden
17:37My gnomes
17:38Bye gnomes
17:40Hanging with my gnomes
17:42They're very sizable gnomes
17:44They are
17:44Those are 12 inch gnomes in the Christmas calendar
17:47Mr. Wonderful, I gave you the Halloween one
17:49I saw that
17:50I'm very
17:50I'm intrigued because you can't sell that in retail
17:53It's too big, right?
17:54Right
17:54I don't want to go to retail
17:55Are you online only?
17:57Yes
17:57How much is the Christmas one?
17:59Okay, so the Christmas I retail for $147
18:02That's cheaper than I expected
18:03That's way less than I thought too, Mark
18:05That's it?
18:06$147
18:07What's it cost you to make?
18:09$47
18:09This is a great value
18:11Yes
18:11And how many gnomes are in each calendar?
18:13So the Christmas ones, there's 24
18:15And of course the Halloween, there's 31 gnomes
18:18How much is the Halloween one?
18:19So the Halloween one is $135
18:22And that one was about $35 to make
18:25It is a great price
18:27No, it's too cheap
18:28I'm glad y'all are saying that
18:29Because the average cost of a 12 inch gnome is $28
18:33And when you get it in mine, it comes out to $6.12
18:37Didn't we have somebody on that did gnomes?
18:39Wendy's gnome shop
18:40Yeah
18:41Well, great
18:42Jenna, what are your sales?
18:43So my lifetime sales right now are $160,000
18:47I've only been in business for 18 months
18:49Wow
18:50And how do you sell it, Jenna?
18:52I have my own website and then TikTok shop
18:54Which has been huge, you know, the past year
18:56How do I even know about you?
18:58How do you find me?
18:59And how much money have you spent on advertising?
19:02I don't buy advertising
19:04You don't spend any money on marketing?
19:05No
19:05So where do you go looking for customers?
19:07I find influencers on TikTok
19:11That are into gnomes or into what?
19:13That have a lot of followers
19:14I gift them a box
19:16You gift it to them, right?
19:17Yes, and they show it and their customers buy it
19:20And Jenna, tell us about you
19:21I started in the healthcare business
19:24And then I started to have my family
19:27And I was a stay at home mom for about 10 years
19:29And then once me and their father separated
19:32It was time for me to get back to work
19:34But I did not want to leave my kids
19:36So I got into finding something to do
19:40That I could stay home and provide for my family
19:43And I tried so many products to sell
19:46Some were good, some were not
19:47My best one was the admin calendar by far
19:50And I also had access to a program
19:54And it showed what people were searching for on Amazon
19:58The top searches
19:59It was always gnomes
20:01They were everywhere
20:02What do you need from a shark?
20:04I need your expertise
20:06I need your guidance
20:07This is my very first business
20:09I've been running by myself
20:10I'm hoping to bring the price down even more
20:13If I can order more
20:14Why do you think you need to bring the price down?
20:16Because the reaction from the three, four of us was
20:19You're not charging enough
20:20It's too cheap
20:21Yeah, that Christmas box should be like $399
20:23Damon and I thought it was $300
20:24I think the ultimate set is they're alive
20:30That would be nice
20:31Yeah
20:31They're called children
20:32Yeah, see I already have six children
20:34Six?
20:35Six children
20:36I do, I do
20:37I don't know if you need to go there
20:38I mean, I think honestly
20:40When you came out and you told us the price
20:42Damon and I both thought it was going to be $300
20:45My twins will lose their mind when they see this
20:48Yes
20:48It's super exciting
20:50Yes
20:50You can grow this business to a few million dollars
20:53I have no doubt
20:54Keep doing what you're doing
20:55Yes
20:55But as an investor though, as a shark
20:58I'm out
21:00I think it's super cute
21:01I love advent calendars
21:03I don't really think you need my help
21:05I will be a customer
21:06I'll be waiting to see what advent calendars come out
21:09I wish you good luck, but I'm out
21:12This is a perfect example of a company that is great for an entrepreneur
21:16Because you can just grow it at your speed
21:18Which is important to you with your family, right?
21:20Yes
21:20And when you take money from an investor
21:22We want you to work at our speed
21:24Which is faster, faster, faster
21:26Yes
21:27The expectation is completely different
21:28Sure
21:29And so, my only piece of advice is raise your prices
21:31Congratulations, you've done amazing things
21:33But for those reasons, I'm out
21:36Thank you
21:37So I had already made a deal with Wendy's Gnome Shop
21:41So I have enough gnomies in my life
21:43So I think I'm a little over gnomed at the moment
21:47So I'm out
21:48Okay, thank you
21:49I appreciate that
21:50Jenna, I think your heart's in the right place
21:51And you certainly have achieved freedom you pursued
21:53That's the essence of entrepreneurship
21:55But this sounds like it could get to maybe 2-3 million bucks a year
21:59Yes
21:59Although 3 million for you would be fantastic
22:02Right
22:02You'd be making about 1.2 million a year
22:05Yes
22:05So, let the gnomes dance
22:08Okay
22:08It's phenomenal
22:09I wish you good luck, but I'm out
22:12Alright, thank you all so much
22:13I really appreciate you all's time
22:15Congratulations on your success
22:16Thank you
22:16Thank you all so much
22:17You're gonna be a millionaire from this
22:19You are
22:19Thank you, I love it so much
22:21It's been so much fun
22:22Thank you very much
22:23I appreciate it
22:25For them to say that I could push this to a $3 million business was amazing feedback
22:32The confidence that they gave me just makes me want to persevere even more
22:48Next up is a business designed to be a perfect side hustle for college students
23:05Hey Sharks, I'm Jake Piekarski from Huntington Beach, California
23:08And I'm Phillip Loveland from Libertyville, Illinois
23:10I think it's safe to say that nobody wants to open their front door in the morning and see a
23:14pile of snow on their driveway
23:15It's both frustrating and time consuming having to remove all that snow
23:19But college students have lots of free time
23:22Of course, that's after going to class and studying
23:25That's where we come in at Snow Scholars
23:27Snow Scholars is a snow removal business that employs college students
23:31So when the snow falls like this
23:33Ahhh
23:34Oh yeah
23:36It's snowing
23:37Wow
23:37We make shoveling your own snow
23:39A thing of the past
23:40We're one of the highest paying jobs on campus
23:43So how does it work?
23:45Homeowners can sign up for a full season plan or a vacation plan on our website
23:49They can select the areas they would like to have shoveled, salted, or sanded
23:53All of our plans include hand shoveling, free salting or sanding, and a knock on the door by a friendly
23:58college student
23:59On a snow day, a snow scholar will receive a text to begin shoveling their assigned homes
24:04They take before and after photos, which are then sent to our job reviewing team to maintain our five-star
24:11standards
24:11Now Sharks, we know money doesn't grow on trees, but for us
24:14It falls from the sky!
24:16We're seeking 75,000 snowflakes for 10% of snow scholars
24:21So who's ready to join us as we continue snowballing our way to success across college campuses
24:26And help more students shovel student debt one inch at a time!
24:30Yeah!
24:31What campuses are you guys on?
24:33Yep, right now we're on two college campuses at the University of Wisconsin-Madison
24:36And the University of Minnesota-Twin Cities
24:38With plans for expanding to four more this year
24:40So there's over 140 college campuses that this business can go to both in the U.S. and Canada that
24:46fit our criteria
24:46Jake, how does it work? How do you find clients? Just walk me through the process
24:50Last year we did mostly just social media marketing
24:52This next year we're partnering with campuses to get on their student job boards
24:55So that's how you get the students, the shovelers
24:58Correct!
24:59How do you get the homes?
25:00Yes!
25:01Yes, so we send out flyers to doors
25:04We pay college students to distribute flyers for the season
25:07You're doing physical flyers?
25:08Physical flyers
25:09And how much is it?
25:10So our average cost per snowfall is $74.56
25:14Regardless of how many inches?
25:16Regardless, that's what customers love
25:17Customers are used compared to our competitors
25:20They can charge as much as $300 to remove snow
25:23Not for a single driveway
25:25For a single driveway
25:26Well look, in Michigan sometimes they have winters with no snow
25:30Right
25:30So what happens then?
25:31What about ice?
25:32Do you come and salt?
25:33So we dispatch at one inch of snow, which is very small
25:36What about ice storms?
25:37Yes, so ice storms
25:38Ultimately we do provide free salting and sanding
25:42Whoa, what's this free stuff?
25:44So why do you do that for free?
25:47Ultimately homeowners are tired of paying a ridiculous price
25:50With over $100 to apply salt for one time
25:53We do it for free
25:54And even though we charge $74.56
25:57We have a 73.3% net profit margin
26:00We have a whole team
26:01And we have our design software that we use
26:04To make all the routes within three hours before the snowfall
26:08And each shoveler gets roughly five to six homes
26:11If they want more, we can give them more
26:12If they want less, we can give them more
26:14So you have software that does an optimization
26:15Yes, correct
26:16Basically, what software you just created?
26:19So we custom built our own software
26:20The biggest reason why we did this is we want this business to be operated by very few people
26:26We want it to be automated
26:27What are your sales?
26:29So a snow season starts December 1 to April 1st
26:32So this last snow season we did $116,800 in sales
26:35Wow
26:36And we profited $85,500
26:38Whoa
26:39All while being able to generate $25
26:41Or pay students $25 an hour
26:43Which is the highest paying job on campus
26:46That's amazing
26:46They'll make about $185 a day
26:48Is it just you two guys?
26:50It's just us two
26:50Are you 50-50 partners?
26:52So I own 100% of the business
26:53But Phillip has put in more than
26:54You do?
26:55Yes, but Phillip has put in
26:56Phillip, how'd you let that happen?
26:57Oh, I have a sweat equity deal
26:59Oh, there you go
26:59Eventually, once we get to $270,000, I get 30% of it
27:03Oh, there you go
27:03Good for you
27:03Let's go back to you
27:04Kevin, don't speak
27:06Let's go back to you
27:07Tell us about you, how you came up with this
27:09So we both just graduated from the University of Wisconsin
27:12With management and entrepreneurship degrees
27:14Phillip also has a psychology degree
27:16Ultimately, I've always hustled
27:18I actually grew up playing ice hockey
27:19To pay for my hockey equipment to help my parents out
27:22I would buy 100 rolls of hockey tape from China for $100
27:25Sit at hockey arenas on weekends
27:27And sell them all out for $5 a roll
27:30And that's how I would pay for all of my hockey equipment
27:33That's good
27:33And during my junior year, that's when actually I met him
27:35At a company I was interning for
27:38You may recognize it
27:38It's called Storage Scholars
27:39I know a little bit about those guys
27:41I know, I think you may have
27:42And what is that?
27:43Storage Scholars is a company that came on Shark Tank
27:46That I invested in
27:47That's crushing it
27:48And they organize, move in and move out
27:51Oh, that's right
27:52I thought that was very smart
27:55Or one year ago, right?
27:55Guys, you know, I grew up in Boston
27:57We have nor'easters
27:58It's the worst winter money can buy
28:00Free
28:00And I swore to myself years ago
28:02I hate winter
28:04And I finally made it to Miami
28:06Where I spend all waiters
28:07I'm never going to deal with snow again
28:08Yep
28:08But I'm romantically involved in it
28:11I like to look at pictures of snow
28:12While I'm sitting on the beach
28:14That's fantastic
28:15I like your deal
28:16I like you guys
28:16I'm going to make you an offer
28:18That's awesome
28:18I'm going to give you $75,000 for 20%
28:22Hey Kevin, I'd love to defend that valuation
28:24So it's
28:27Don't even bother
28:28It's really, really
28:29So this business started November 2022
28:31We had $18,000 in sales
28:34In that first snow season
28:35With $13,000 in profit
28:37This next year
28:38We were able to maintain those profit margins
28:39But it's very hard to value a business at early stage
28:43But I will give you the facts
28:44So ultimately
28:46We grew from
28:47What, are we in class here?
28:49I like it
28:49Apparently
28:50So we grew from 34 customers to 353 customers
28:54With the opportunity to go to 700 customers
28:57Our customer acquisition cost is $7.08
29:00And for each customer they spend $814 a year on us
29:04Well, I like that you know your numbers
29:06I started off doing this exact thing
29:08Because in the hood it was as soon as the snow fell
29:12That's a day off and I can make money
29:14So what I decided to do is charge all the customers around $10
29:17And I realized after about 30 houses
29:19That I could sit home and give my friends $4 a driveway
29:22And I would sit home and do that
29:24Exactly
29:25So I really know this business
29:27But I'm going to match Kevin's office $75,000 for 20%
29:31Well, I was going to go 25
29:33But if Kevin wants 20 then I have to go 20
29:3620 is very reasonable, you know
29:38Remind me of the guys I actually teach in school
29:40First of all, I think you guys are fantastic
29:43Thank you
29:44I really do
29:45I'm not even sure why you need my help
29:47Because I think you're doing everything right
29:50I'm sorry, I'm out
29:52Yes
29:53I think you're going to struggle to make it scale
29:55The variance of snowfall and the peak in demand
29:59Is going to be really, really hard
30:02I can't see this business scaling on the large scale
30:06I'm out
30:07It's not for me
30:08Thank you, Robert
30:08So I've driven to over half of these college campuses
30:11You have two offers?
30:11We do
30:12We do
30:14Guys, I'll give you $150,000 for 20%
30:19Mark will take your deal
30:20Done
30:22Thank you
30:23Thank you
30:23I forgot what you did
30:25Thank you
30:26There you go
30:26Thank you
30:27Thank you
30:28Thank you
30:29Thank you
30:29You guys already know from Story Scholars
30:31The challenges you're going to face
30:32Thank you so much
30:33Appreciate it, guys
30:34Thanks, guys
30:34Thank you all
30:35Congrats, guys
30:35Thank you for your offers
30:37I hope it never snows again
30:40Date over 10 year shows
30:42Thank you
30:43Bye-bye
30:43See you
30:45Woo
30:47Deal with Mark
30:48Woo
30:48Woo
30:48Hey
30:49On Wisconsin
30:51Mark was our target shark
30:53Because he ultimately had, you know, a huge background in technology
30:56He's got credibility as a name
30:58And he has experience with another college student owned and operated company
31:02Which we are looking so forward to working with
31:04Yay
31:04Let's go
31:07Woo
31:08Woo
31:08Pretty exciting
31:15Next up is a fun way to bear the cone
31:21Oh
31:22Uh-oh
31:23Oof
31:23Oof
31:23Oof
31:24Oof
31:27Oof
31:28Oof
31:29Oof
31:30Oh
31:30Oof
31:31Oof
31:31Oof
31:32Oof
31:33Oof
31:33Oof
31:34Oof
31:35Hello, Sharks
31:36I'm Carlo from Boulder, Colorado
31:38I'm the Papa Bear of Wildcoat
31:40And I make the most fun coats in the world
31:42Woo
31:42Woo
31:43Woo
31:44Today I'm seeking a $350,000 investment for 10% equity in my company
31:50Wildcoat
31:50Mm-hmm
31:51Sharks, I don't know if you've gone skiing lately
31:53But the outfit options are monochromatic, repetitive, and frankly downright boring
31:59Ugh
32:00I'm determined to bring back the silly side of snow sports
32:03Which is why I created Wildcoat
32:06Aside from looking ferocious, these babies are high performance winter coats
32:10They've got seven oversized pockets for all your snacks and gear
32:14An adjustable hood fits over a helmet, a hat, or your bear head
32:21Magnetic storm flap and magnetic mitt attachments, so you can flip the claws back
32:25And they're modular, so you can fully detach the hood, sleeves, and mitts
32:30Not to mention they have a temperature rating to rival a real bear
32:34Arrgh
32:36Sharks, let's make the world a more fun place one wildcoat at a time
32:39Who wants to join us at the opera?
32:41Woo
32:42Woo
32:42Woo
32:44Good job
32:45Each of you has a wildcoat in front of you there, if you want to check it out, try it
32:48on if you want
32:49We definitely do, oh, it's cool
32:52Wow, look at this thing
32:54Oh my gosh, it's heavy
32:55They're heavy duty
32:56Yeah
32:56They really are the warmest coat you've ever worn
32:58How cool are these?
33:00They're a good time
33:01This is really fun
33:02So we've got a polar, a panda, a wolf, a grizzly, and a buffalo
33:10Woo
33:11Woo
33:11Woo
33:12Woo
33:14So were any animals harmed in the making of these coats?
33:18None, so they're all faux fur
33:20Faux fur, but they have the warmth of
33:22They have the warmth of a real fur
33:24Of a real fur, yeah
33:24But they don't feel real heavy, but they're that warm
33:26So that's, part of it was I designed them, so I've been skiing for 32 years
33:30And in order to make it an everyday ski coat, it has to fit well and have all the features
33:35How much is the coat?
33:37$449
33:37Well, that's not bad
33:38Yeah, it's very much like a mid-tier pricing for a quality ski coat
33:42$449 for any style?
33:43$449 across the board, yep
33:45And we get them landed anywhere, $120 to $130
33:47Where are you selling them at and how are you marketing them?
33:49All online, so all in our own shop
33:51Good
33:52Marketing, we've done a lot on basically paid ads
33:54But then this last year we focused more on in-person events
33:58We did a Bears game, a Bills game, X Games, and then two other ski events
34:03The week following those events we saw a 50% to 70% jump in sales
34:07I think those events are how you sell something like this
34:09Huge, and that's how the whole company started
34:10So eight years ago I got this Bear costume for Christmas for my family
34:14Because there's two things I love, skiing a bunch and being a little silly
34:18So obviously I made it my everyday ski coat even though it was very much a costume
34:22It was not warm, no pockets, no zipper, and it had like a foam molded head
34:26So I couldn't even wear it over a helmet
34:28But I still skied it every day because it was a great time
34:30And you talk to everybody, on the chair, middle of a run, people stop you asking for pictures
34:34So my business partner and I, we skied together and we knew we were on to something
34:38What business were you in? Are you a clothing guy?
34:41Uh, no, so actually I went to school for engineering
34:43And then I've also done
34:44And look what happened to you
34:45Right? My parents are very proud now
34:48Okay, what were the numbers?
34:50So in 2021 we did 135k, year two we did 375, and then last year we did 505
34:56And this year we were
34:56And all you were doing was going to a few games and to the slopes
35:00Yep, so this year I'm confident we're going to hit 700k
35:04Why isn't it scaling faster, Carl?
35:07Because I look at it and I'm like, wow, this is very cool, it's fun
35:12Sure
35:12I have a lot of experience with this
35:14Totally
35:15I disagree with you, there isn't fun ski wear
35:18Look at tipsy outs
35:19They're also very fun
35:2130% of our revenue now is those cool neon ski outfits
35:25And you know how we did it? Having people skiing them
35:27Sure, so this past year is when we really focused on more in-person selling
35:31And in terms of our ad spend, in 2022 we went big on meta
35:36And so what did that cost you to acquire a customer?
35:39Because you've got $300 of margin to play with
35:41So in 2022 it was $150 for paid ads
35:44Ouch, ouch
35:44Which was way too high
35:46Ouch, wow
35:46So last year we really diversified our marketing efforts
35:51Okay, how much is your inventory right now?
35:53So right now we have 1,200 coats
35:54So what's the dollar amount of that?
35:56About $500,000
35:57Your cost
35:58My cost
35:58Oh, that's a lot
35:59About $150
36:01So can you tell me what you think you'd make on this $700 plus thousand in sales this year?
36:06Sure
36:06So this past year we basically broke even
36:08Because we went so big on inventory
36:10Okay, well here's a problem
36:12You're valuing your business at 10% for $350, $3.5 million imputed value
36:17You make no free cash if you broke even
36:19But there's no way this business is worth $3.5 million bucks, it's impossible
36:24I love the product but I'm out
36:27Okay, how much cash have you put into the business?
36:30So total we've put $285,000 into the business
36:33Of your own money?
36:34I did $25,000 then my business partner did the other $260,000
36:37And how much do you own? How much does he own?
36:39I'm 65, he's 35
36:40So Carlo, I think it's super fun, I really love it
36:44I definitely want the wolf
36:45Love it
36:46I think it's very cute, it's a niche market
36:49I'm definitely gonna buy one, I wish you good luck, but I'm out
36:52Thank you
36:53Yeah Carlo, I'm along the same lines, it's very niche
36:55I don't think you need to spend money on meta or any advertising
36:58You should be all social media
37:00But I also think you need to raise your prices
37:02Because this is not a price sensitive item
37:04This is a fashion statement, this is a branding event
37:07Right, when you wear this, you are branding yourself on the slopes or at a game
37:11You are saying, look at me, people will pay any price for that
37:16But I don't see it as investable, so for those reasons I'm out
37:20So, I love it
37:23You sold 1.2 million, but you have $500,000 in inventory which you haven't moved
37:28That's 1,200 units
37:30So I can give you an offer, but it's really for me to come in and get you more honed
37:37in on what you're doing
37:37And then license different categories so you can take up more of the space
37:42Okay
37:44Gloves, everything else
37:45So I'll give you the $350,000, you ask for 10%, I'll give it to you for 30%
37:54He's a real bear
37:55I don't think that's bear
37:55Wow, that's a grizzly offer right there
37:57So Carlo, with all due respect to Damon, he may be the FUBU godfather
38:02But in Shark Tank, I am the Papa Bear of clothing
38:16Three sharks are out
38:18Carlo has one offer on the table from Damon for his novelty ski jacket company, Wildcoat
38:24But Robert also seems interested
38:27I know this space, there's a lot of work with this
38:30Sure
38:30It should be bigger, but you've got to go now
38:33You know what happened to those little tip sales?
38:35Everybody knocked us off
38:36You know what our best protection was? Getting bigger
38:39You know what we said?
38:40We're just going to make a really big company become a brand
38:43You've got to become the Wildcoat brand
38:46Here's my offer for you
38:47$350,000, 25%, that's my offer
38:53$350,000, Damon wants $30,000
38:55And Robert will do it for $25,000, 5% Delta
38:58I'm sure if Robert will license it
38:59I wouldn't license it
39:00Yeah, that's the problem
39:01Not today
39:01I'm looking at scalability
39:03I mean
39:04Don't cheapen the brand
39:06That's the one thing I've learned out of all these years
39:09Is you've got to build the brand if you want to scale the business
39:13I was selling at 1.10 million pairs of jeans a year
39:16You want to get to that level
39:18The difference of what Robert is saying of cheapen the brand
39:21You can't cheapen that brand if you get it out
39:23Because you know what it is when you get it through those doors?
39:25It's more people on the mountain
39:26They're paying for it
39:27That is true
39:28It's a difference of paying
39:29At a discounted price
39:30Nope, it doesn't matter
39:31Well, nobody knows that
39:32They just see it everywhere
39:33Nobody knows that
39:34And that's the difference of that
39:36Carla, what do you want to do?
39:37What are you thinking?
39:39Well, I'm thinking that 25%, 30% is a little high
39:43Based on where I know we can take the counter
39:45You can counter
39:45Would you do 15%?
39:49No
39:50No
39:51Okay, so what do you want to do?
39:53They're stuck
39:53It's a lot of dough
39:54The 350 is a lot of dough
39:56A lot of dough
39:56Carl, I know it's a lot of dough
39:58Yeah
39:58And I know it seems like a low valuation to you
40:01I just know the problems
40:04Would you do 20%?
40:05I wouldn't do 20%
40:09Would you do 23%?
40:11Because I'd like to keep at least 50% of the company for myself
40:13You can keep me at 50%
40:18I'll do 23%
40:20Yeah, I'll do 23%
40:21Ooh
40:22You have both shirts
40:23I will do 23%
40:24Right now
40:24Because that's a reasonable ask
40:26And I want you to keep 50%
40:27Carla, look
40:28There are a lot of ugly Christmas sweaters
40:32Yeah
40:32But there's only one Tipsy Elves, my friend
40:35Okay, good
40:36All right
40:36Enough of the Tipsy Elves
40:37Enough of that
40:38There's a lot of clothing brands
40:39But there's only one
40:40Kuji, Fugu, Bomba Socks
40:42Heatherette
40:43So I've been doing this for quite some time
40:45Are you a mass volume clothing brand?
40:46Or are you a specialty ski?
40:48You've got to figure out what you are
40:50You want to make money
40:51We're niche
40:52You are niche
40:53You can obviously tell
40:54He's trying to take you in a different direction
40:56I can only take you in one of the directions
40:57Of the 12 clothing companies that I own
41:00What are you going to do?
41:05So it is tricky
41:06Because you guys are both fantastic
41:08Would you like to go in together
41:10So we can hit both angles?
41:12Absolutely not
41:13No
41:13I don't need someone with one clothing brand
41:15To tell me after my 12
41:17Do you want a partner
41:18To just throw you under the bus like that?
41:20Carlo, you're going to pass out
41:21That bear outfit
41:22Of course
41:22Like you really got to make a decision
41:24You just got to make a decision
41:29Robert, I'd love to do a deal with you
41:30There you go
41:38I don't want to get too excited
41:44It's okay
41:45Congratulations, great pitch
41:46Great pitch, great pitch
41:48Let's party on out of here guys
41:49Oh my god
41:52Hi Sharks, thank you
41:55I look fabulous
41:57Very convention, here he comes
42:00Oh that is funny
42:01That is funny
42:02We got ourselves a deal with Robert
42:04It's going to be good
42:05We're ready to blow this thing up
42:07Now we're going to go find the nearest freezer
42:09What?
42:10Yeah!
42:13Yeah!
42:14Yeah!
42:15Yeah!
42:16Yeah!
42:18Yeah!
42:39Yeah!
42:43Yeah!
42:45Yeah!
42:45Yeah!
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