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00:00Tonight on Shark Tank.
00:03Ah, science class.
00:05This product here is gonna be hotter than South Georgia Asphalt in the middle of July.
00:09My first boyfriend looks just like you.
00:11Next time I see you will be in my dreams when I go to bed tonight.
00:14It's a big old summer party in your mouth.
00:16I don't know if Lori gets it.
00:18No, I get it.
00:19You know, I'm feeling offended here.
00:21Me too.
00:21Go to my chopped liver over here.
00:23I'm offended.
00:25Really?
00:25Never a good start.
00:34First into the tank is a product that is ready to go when you need it the most.
00:45Howdy, howdy, Sharks.
00:47My name is Smith Allen Baggett, and I make my home on my cattle ranch in Southeast Georgia.
00:51Now, I know when you see a cowboy up here with a product called Flamingo, you can't help but wonder,
00:56well, what's it do, buckaroo?
00:57Well, let me tell you when you'll need it.
00:59Say you're about to hop on a call on that important business deal you've been working on, and you realize
01:04your phone's dwindling down to 3%, no power inside.
01:07Or, you may be down at the local saloon knocking back a few cold sarsaparillas, and before you know it,
01:12you're last man standing, and you need to call a safe ride home.
01:15Or, probably the scenario that y'all can relate to the most is when you're out on horseback riding the
01:21ranch, trying to gather up all the strays, and you need to call back to the bunkhouse for a little
01:25bit of backup.
01:25But you can't because of a dead cell phone.
01:29And there ain't exactly a cigarette lighter charger on your pony old Dan there.
01:33That's where this cowboy and Flamingo saved the day.
01:36Introducing Flamingo, a pre-charged phone charger right out of the wrapper.
01:40It's perfect for theme parks, nightclubs, sports arenas, vending machines, anywhere people have a cell phone, which is pretty much
01:49everywhere.
01:50It comes pre-charged, it has a 3-in-1 tip, it's a micro USB, a USB-C, and a
01:56lightning cord, so it'll charge earbuds or speakers or any other fancy doodads that city folk come up with next.
02:03It weighs less than 2 ounces, it's 2 inches wide and a quarter of an inch thick, so it's the
02:07perfect size for any pocket, purse, backpack, or you guessed it, saddlebags.
02:12So whether you need to call a taxi or swipe right on Mr. Wonderful, you'll always be in charge with
02:18Flamingo pre-charged chargers.
02:20Now, Sharks, I think it's safe to say that this product here is going to be hotter than South Georgia
02:25asphalt in the middle of July.
02:26So that's why I'm here today to ask for $100,000 for 20% of my company, Flamingo.
02:32And who knows, with a deal like that, I might even get to practice a little bit of my auctioneering.
02:36Well, I got a $100,000 bidder than a half, a hundred and a half and a half.
02:39Yeah, okay! Nice!
02:41Anyway, I want to bid them on two, all in, all done, sold all five charts.
02:45Yeah! Good job!
02:46Why don't y'all take a look at the samples there and we'll talk about how we can saddle up
02:50and ride off into a bright future together.
02:52Smith, you have an amazing voice.
02:54Oh, thank you.
02:54That was a great pitch.
02:56Oh, thank you, sir. I appreciate it.
02:57Are you really an auctioneer?
02:58Yes, sir, fourth generation.
02:59Wow.
03:01How long will it last?
03:03How do you, do you throw this away or you can recharge this?
03:07Yes, ma'am. That's rechargeable with a USB-C port where your finger's at.
03:10And they'll hold charge for a couple years on the shelf.
03:13Just like that?
03:14A couple of years.
03:15Yeah, you know, it won't be 100% after a couple years because it dwindles down.
03:19Smith, is your idea, I mean, very clever, first of all.
03:22Yes, sir. Thank you.
03:22Is your idea this a convenience?
03:24I'm out at a 7-Eleven or something.
03:25I need a charger. I didn't bring my charger.
03:28Yes.
03:28I grab it off the shelf.
03:29Yes, sir.
03:30So at the convenience store, absolutely.
03:32It's the same reason people buy two cold bottles of water for the same price.
03:3624 are over right there in the case for the same price.
03:38What do you charge for it?
03:40They retail from $12.99 to $19.99.
03:42I've done some theme parks.
03:44They sell them for $19.99.
03:45Wow.
03:45What does it cost you to make one?
03:46$3.65 right now, landed by boat.
03:50Now, I have a question.
03:51Yes, ma'am.
03:51Several questions, okay, because I know about these.
03:54Yes, ma'am.
03:54I have sold many, many, many, many chargers.
03:56I actually created one.
03:58All right.
03:59Ours was 4,000 milliamp.
04:01Yes.
04:01This is 3,000 milliamp.
04:02That's correct.
04:03Yes, ma'am.
04:03So it's not going to charge as fast nor hold as much power.
04:07That is correct.
04:08Yes, ma'am.
04:08So tell me, if somebody were to put this into their iPhone, how much will it charge?
04:13How many hours worth?
04:15Yes, ma'am.
04:15And how quickly?
04:16Yes, ma'am.
04:16One thing I like to say when people ask me this is they say, how long does it take to
04:20charge?
04:21Is it rapid charge?
04:22And I say, hey, when your phone's dead, it doesn't matter how long it takes.
04:25It's a good charge.
04:26Yeah.
04:26When you're begging for water in the desert and somebody comes by with a canteen, do you say,
04:29is that tap or spark?
04:34So, as you know, as the phones come out, they have bigger batteries.
04:37So it'll fully charge, you know, an iPhone 10, but an iPhone 15, it'll get you there at about 70
04:45-something percent.
04:45It'll take it about an hour to get to that full 70.
04:49It's not bad.
04:49To charge.
04:50Yes, ma'am.
04:51But, you know, these are commodities.
04:52There's a lot of chargers in the market.
04:54You know that.
04:54Yes, there are.
04:55So what's so different about this one?
04:57Well, because it comes pre-charged.
04:59What good is a charger when people leave it at home in a drawer?
05:01There's no other charger out there that comes pre-charged?
05:04It's not apples to apples.
05:06There's one on the market that does not have the cord.
05:09It does not have the battery quality.
05:11What are your sales?
05:12So this is interesting.
05:14My sales...
05:15That's never a good start.
05:16Interesting.
05:16I know you'll say that, but you'll see.
05:18I've done, in the past year, about $318,000.
05:22That's not bad.
05:23Yeah.
05:23And that was on seven sales.
05:25Seven.
05:26Seven.
05:26So this is why I tell you it's kind of different.
05:28I'm a fourth-generation cattle rancher, and that's what I do with my father.
05:32And, uh...
05:32Wow.
05:33You're a real cowboy.
05:34A cowboy.
05:35Yes, sir.
05:35My sales come from...
05:37I went to one trade show.
05:38And I scraped up enough money for a trade show.
05:40And I was the only cowboy in 15,000 people at that show.
05:43And I got some traffic and met some people.
05:46Who did you sell to?
05:47Um, I have sold to a theme park.
05:50I have sold to a...
05:53The fourth largest, um, printer of promotional products out of Tampa, Florida.
05:57So are they pre-printing?
05:58Like, uh...
05:59No, sir.
06:00All of them except one have been in the promotional product space.
06:03I put custom branding on it.
06:04I put a custom QR code on the back.
06:07But, Smith, let's be clear about...
06:08Yes, sir.
06:08...pre-charged...
06:09Yes, sir.
06:10...chargers.
06:10There are many, but they're not...
06:12They don't have the electronics in them to charge them again.
06:15They're disposable, and they're cheaper.
06:17They are competitors, but this...
06:18And it's one time.
06:19The difference here is you've paid for the electronics to allow to charge it again.
06:23Yes, sir.
06:23Which is interesting.
06:24But I'm trying to figure out, is it really going to be competitive within the electronics space
06:29as a standalone product, or is it better off in the promotional market?
06:33Well...
06:34Promotional, yeah.
06:35Both.
06:35Kevin, I think the answer is both, because we still have so much untapped promotional stuff,
06:39but on the convenience store side, I had a call with a huge distributor last week.
06:44There's a convenience store chain that's interested in me, and they're opening Test the Waters order
06:49will be 50,000 pieces.
06:50What do you think the sales are going to be a year from now?
06:54That depends on us, Ms. Barber.
06:55Without us?
06:56Oh!
06:57What would they be without us?
06:59Um, well, so...
07:00So keep in mind also, this has been a side project for me.
07:03Um, people said, why'd you invent this?
07:05I said, I'll invent anything it takes to pay for tractor diesel and fertilizer.
07:08But I guess with or without you, uh...
07:11Just you saying without me breaks my heart.
07:15What do they say? If you like it, I love it, Ms. Barber.
07:18We can make it work.
07:19You know, my first boyfriend looked just like you, and he was a cowboy.
07:23I was going to tell you next time I see you, it'll be in my dreams when I go to
07:26bed.
07:26Yeah!
07:28Get a rope!
07:30Get a rope!
07:31Get a rope!
07:32Match made in heaven.
07:32I guess what I need to do is, if there's an investment, I'm going to use the money to go
07:35to some more trade shows.
07:36I've been to one, and look what it produced.
07:38Barbara, we know you're excited about Smith, but are you excited about the deal?
07:53All sharks are still in for Smith's portable charger company, Flamingo.
07:58Barbara, we know you're excited about Smith, but are you excited about the deal?
08:02I am excited about the deal. It seems so simple.
08:05Yeah, it's very...
08:06Would you dedicate the time to something?
08:08Very transparent.
08:09I mean, I mean...
08:09Would you dedicate the time to something?
08:10I thought it was one of the most entertaining presentations in 16 years.
08:14It's up there. It's up there.
08:14Absolutely. Thank you, sir.
08:15It was great, and it's very simple, easy to understand, and guess what? It works.
08:18It does.
08:19So, I mean, you've got all the ingredients.
08:20I have a feeling that Barbara's getting hot to try, so I'm going to stay out of her wake, but
08:25I'm out.
08:26Yes, sir. Thank you again for the sound parts.
08:28Smith, I think you're doing amazing.
08:29He is.
08:30You're a rare combination of extremely authentic, extremely credible, and extremely fun.
08:36Yes, sir. Thank you.
08:36It's a consumer electronics product. Nothing wrong with that.
08:39Yes, sir.
08:39There's no proprietary technology. Nothing wrong with that.
08:42Yes, sir.
08:43My advice is run like hell.
08:45Right.
08:45Sell as many as you can, make a ton of cash, make a profit.
08:48It's not something I would invest in. It's not for me, I bet.
08:52I appreciate you. Thank you.
08:53Thank you for your compliments, also.
08:54Smith, what do you want a shark for?
08:56Yes, ma'am.
08:57I would take the $100,000 and go to some trade shows.
09:01I spent $5,000 on the one. It did pretty good, you know?
09:05All right, I'd like 25% for the $100,000.
09:08Wow.
09:08Yes, ma'am.
09:09Honestly, I'd do for 20%, but I'm supposed to act like a shark.
09:12But for you, baby, I'm no shark. I'm like a guppy in your arms.
09:16Golly.
09:17You know what? I'm not very smart, but I think if you count her at 20%, she might say yes.
09:22I do, too. I think she will.
09:23But I'd like to be fair, too, you know? I always say let's meet in the middle. 22 and a
09:27half percent.
09:30How about 22?
09:3422 even?
09:35Yeah, 22.
09:37There's hope for us after all, Miss Bart.
09:40There's love in the air!
09:41There's love in the air!
09:43Can we hug?
09:43Just a minute, baby.
09:44Yeah, get up there!
09:46Woo!
09:46Yee-haw, girl!
09:47Yee-haw, girl!
09:49Yeah!
09:50Thank you.
09:51You're even better looking in person.
09:53Thank you, ma'am.
09:53I appreciate it.
09:55Give me a hug, dear.
09:56I'll give you a hug.
09:56Yes, ma'am.
09:57Good job, man.
09:58Congrats.
09:59That was great.
10:00Good job. Good job, Barbara.
10:01Wonderful. Thank y'all.
10:02Wow.
10:03Here we go.
10:04Giddy up, saddle up, and follow their dreams.
10:07I'm real excited.
10:08Where I'm from in the country, opportunities like this don't come along very often.
10:12And I'm excited to tell my dad and get some money made for the farm, keep those wheels
10:18greased, and keep the cattle grazing, and this will help do it.
10:22I love that guy.
10:23He was fantastic.
10:24He was amazing.
10:25Mark, I'm surprised you usually do all those deals and just say, sure.
10:29I can't stop Barbara from falling in love.
10:32All right.
10:33Yeah.
10:33I appreciate it.
10:36In season seven, Jeff Lemkowski, Ryan Megan, and Sean Riley made a deal with Mark Cuban
10:41for their toilet paper alternative, Dude Wipes.
10:44Combat stank for all dude regions.
10:46Let's see what they're up to now.
10:48Nine years ago when we were on Shark Tank, we were just some dudes in an apartment, really
10:53starting from the bottom.
10:54But today, Dude Wipes is a national brand in households everywhere.
10:58Today, we employ over 200 people.
11:01Since Shark Tank, we're in over 40,000 retailers across America.
11:05In addition to becoming the number one brand at Amazon and Walmart, we're excited to announce
11:09our new partnership with Sam's Club.
11:12Brings Dude Wipes to over 590 clubs nationwide.
11:16The year before Shark Tank, our sales were $250,000.
11:20In the nine years since we pitched, we've done over half a billion dollars in sales.
11:25So dude, you got to check this out.
11:27Gemini and Docs is pretty legit.
11:29We used to spend a lot of time coming up with witty coffee for social posts, but now we put
11:33Gemini to the test to write slogans for our new campaign, best clean pants down.
11:38We're known for our funny and witty marketing.
11:41So Mark suggested we use Google Workspace with Gemini to write some funny messages and posts for us.
11:46Gemini is an AI-powered assistant that's built into Google apps like Docs, Sheets, and Gmail.
11:52We've been using Gmail since we started this company in the early days.
11:55So switching on Gemini into Google Workspace has been super seamless.
11:59First, all I got to do is write in a prompt.
12:01Give me five Dude Wipes social media posts.
12:04Now Gemini is going to be thinking of different ideas.
12:08Now we got five different posts here.
12:10I can go over and change the tone so it's generating like a more casual idea of it to fit
12:15the Dude Wipes brand.
12:17I saw your post.
12:18Treat your backside to the freshness of Dude Wipes.
12:20Your butt will thank you.
12:21It's hilarious.
12:22Yeah, it used to take us hours to come up with this stuff.
12:24Now Gemini spits it out and boom, boom, boom, we're ready to go.
12:27Social media is who you are.
12:29So you guys are truly trusting Gemini to come up with some really cool stuff.
12:32And this stuff is good.
12:34With all of our success, we feel an immense responsibility to give back and pay it forward.
12:38So we found a great partner in the Crohn's and Colitis Foundation.
12:41This affects so many families across the country.
12:43And we've donated over $250,000 in cash and product.
12:49Dude Wipes being a Shark Tank success story, it's something we take a lot of pride in.
12:53And we owe a lot of gratitude to our Shark Tank fans and Mark Cuban's mentorship.
12:58Our advice to anybody watching Shark Tank is just get out there and do it and give your dream a
13:04shot.
13:04Because if three guys like us sitting on a couch can do it, so can you.
13:23Next up is a hands-on experience for kids that makes learning fun.
13:28Woo!
13:29Let's go.
13:39Hello, Sharks.
13:40My name is Jared Ebersole.
13:42And I'm Luke St. Amant.
13:43And this is little Luke.
13:45Back when he used to have a full head of hair.
13:47Oh, yeah?
13:48What's his little Jared back when he used to have hair?
13:50Okay, okay, come on.
13:52Sharks, we're asking for $100,000 in exchange for 10% equity in LecTech.
14:00Ugh, a science class.
14:04Traditional science classrooms can be boring, unengaging, and even intimidating for a lot of people.
14:09In fact, more than half of students today aren't engaged in what they're learning.
14:15Whoa!
14:16Whoa!
14:17Come on now, come on.
14:18We're here to change that.
14:20With LecTech!
14:24Woo!
14:25Yeah!
14:26Woo!
14:29Nice job.
14:30LecTech equips students to build and ride their own electric skateboards, turning STEM learning into a hands-on, exciting adventure.
14:39LecTech kits include all of the parts and tools required for assembly, allowing students to learn about things such as
14:45motors, gears, batteries, physics, engineering, coding, and so many other science concepts that they can use both inside and outside
14:56the classroom.
14:57So, Sharks, who wants to help us inspire the next generation of leaders, builders, and dreamers?
15:03And light the spark?
15:05Zzzz!
15:06With LecTech!
15:08Good job!
15:09Hey, kids!
15:09Great job!
15:10Class dismissed!
15:11Zzzz!
15:12Good job!
15:12So, guys, are these sold to schools or to anybody, or what's the distribution strategy?
15:17Yeah.
15:17So, right now, we've only been direct to education.
15:19So, we're talking to schools, after-school camps, summer camps, things like that.
15:23Little Lou Clujard, what do you sell this for?
15:26It looks amazing.
15:27Yeah.
15:28So, all in all, everything you need is $349.
15:31Everything I see here.
15:32Everything is included.
15:33And what's your cost to make it?
15:34So, we have $149.
15:35$149, okay.
15:36What are your total sales?
15:37So, we started 10 months ago, and our total sales is $146,000.
15:42Okay.
15:43You know, what's interesting to me, like, I feel that the concept of what you came in selling
15:48is really brilliant, but I really see it also as a consumer product.
15:54Yeah.
15:54Why not?
15:55We haven't gone to the consumer route yet, and that's because we're not building an electric skateboard.
16:00This is an experience for the kids.
16:01So, we needed to go to education first to prove that it's educational, to prove that it's safe.
16:06Are you teachers?
16:07What motivates you?
16:08Yeah, what's your background?
16:09No, no.
16:09So, it all started when I was 15 years old, and I saw this video of an electric skateboard
16:14online, and I thought it was the coolest thing I had ever seen.
16:17So, I just had to have one.
16:18I looked them up, and they were $1,600.
16:20Oh, wow.
16:21And I was 15.
16:21I did not have that kind of money.
16:23But I said, screw it.
16:24Like, I'll figure it out.
16:25I'll build it on my own.
16:26And when I did, people, like, instantly started asking if they could buy some of the parts that
16:29I made.
16:30So, I had no intention of starting a business, but it quickly turned into one, to the point where
16:35it did over a million dollars in revenue.
16:36Wow.
16:37And I paid my own way through college.
16:38Nice.
16:39Wow.
16:40Right around when I graduated college, I gave an electric skateboard to my nephew Brian.
16:44And when he opened it up on Christmas morning, his first reaction wasn't to go outside and
16:48ride it.
16:48It was to ask me how it worked.
16:50So, there we were, under the Christmas tree, taking it all apart.
16:53And I was explaining, this is how an electric motor turns.
16:56This is how a battery works.
16:57This is how a gear system drives the wheels.
16:59And at that moment, I realized, like, other kids wanted to learn the same way that I did.
17:03And I just had this, like, burning sensation of, like, why isn't this in the classroom?
17:07Like, obviously, I would have loved to use it.
17:09And eventually, a couple months later, I decided it was time to sell a majority share
17:13of that company, and I could invest every single penny of it in Intellectech.
17:17Have you raised any money for this?
17:19I've put everything I have into it.
17:20We have not raised any outside funding.
17:22Which is how much?
17:23I put $300,000 into the business.
17:24Wow.
17:25Wow.
17:26I'd like to clear the field a little bit.
17:28I'm just not relating to the product, so I'm going to be out.
17:31Okay.
17:31Thank you for your time, Barbara.
17:33I really love your concept.
17:35Like, I like engaging kids to think, use their minds, be inventive.
17:39But I really see this as two completely different paths.
17:42The path you're going is great, and it's almost like I see you hiring someone in sales
17:46that goes to schools and just handles that.
17:49Yes.
17:50And then there's a division that is just CPG, right?
17:53I'm really not good at this techie stuff, to be honest.
17:57I really admire what you've done, but I'm out.
18:01Thank you.
18:01Thank you.
18:02Jared, look, the mission is right on.
18:04The tool is right on, right?
18:06The results are going to be right on.
18:08But you've got to get it in a position where schools are buying it.
18:11Obviously, that's the hard part.
18:12I just don't see it, the ability for it to scale.
18:15When I say scaling, it's not like you can't do a million dollars in sales for each of the
18:18product a little bit more, but that's just not big enough, right?
18:21I don't see it as a great investment, so for those reasons, I'm out.
18:26Thank you.
18:26I love brand, and I love fun.
18:28I love you guys.
18:29I want to be along for the ride.
18:31I love having you.
18:31But it's a flyer for me.
18:32So, I'll give you the $100,000 for 25%.
18:38Thank you.
18:40And I think it's going to take some time.
18:41Okay, I'll make it interesting.
18:43I'll put an offer together, because I also love a lot of things you're doing.
18:46And you guys are kind of geeky nerd dudes, and I think that could come across very well
18:51on social.
18:52I'm going to take a different approach.
18:54I'm going to leave my participation in the equity at 10, but the classic royalty is coming
18:58into play here.
18:59Let's do it.
19:00So, I would do the deal.
19:01I'll give you the $100,000, and I'll do it for $10 a unit in royalty.
19:05Full power on the social.
19:07How long is the royalty for, Kevin?
19:09Forever!
19:10As long as wheels turn.
19:13Yeah.
19:13Jared, it's the kiss of death.
19:15That's the kind of kiss he's doing.
19:16And you can counter to both.
19:17Yeah.
19:19Kevin, would you be willing to negotiate on the perpetuity?
19:23That's definitely something that...
19:24What are you suggesting?
19:26Until you make your money back, and then...
19:27You like the royalty deal.
19:29Not necessarily like.
19:30That's not the thing.
19:31I do want to mention, too, for the $100,000 for 25%, it's very close to the value where
19:35I put money in as well.
19:36So, like, that would devalue all the time and effort and where we are now at 25%.
19:41Jared, what do you think a fair offer is?
19:45We can make this happen at 15.
19:4715%.
19:48Can we make it happen at 20?
19:53You don't have to give up that much equity.
19:55What are you going to do with your royalty, Kevin?
19:56I'll make it...
19:56Just to make it interesting...
19:58All right.
19:58I'll meet the middle.
20:00100 for 17 and a half.
20:0317 and a half.
20:03Guys, just to make it interesting, I'm willing to cap the royalty at a million bucks.
20:10It just goes away after I get a million.
20:11Ooh, he's so nice.
20:12Wow.
20:13I'd make 10x on my dog.
20:14You could build, like, a nice big bed with a million dollars.
20:16Right?
20:17You don't have to do it, but I keep it at 10%.
20:19I love squeezing Robert's head a little bit.
20:21I've been able to grow the previous company to double in revenue every single year without spending a single dollar
20:26on marketing.
20:27It's not a bad deal, Kevin.
20:29Why would you do a royalty deal at this stage?
20:31You don't have anything to lose.
20:32It's irrelevant at 10 bucks.
20:34100,000, 15%.
20:36I'll go down to 500k.
20:37100,000, 15%.
20:39I'll do it at 500.
20:40Do not do a royalty deal.
20:46This is wonderful.
20:47We love the offer, but not as much as Robert's.
20:52Oh!
20:53Oh, my God.
21:00Oh, my God.
21:01Never do that again, guys.
21:03Oh, my God.
21:05Oh, my God.
21:05Let's go.
21:06Oh, my God.
21:06Let's go.
21:06Oh, my God.
21:06Let's go.
21:06Let's go.
21:06Oh, thank you so much.
21:08Congratulations, guys.
21:09Thank you so much.
21:10Awesome.
21:10Thank you.
21:10Thank you, guys.
21:11We'll see you.
21:12Let's go.
21:12Woo!
21:15Let's go.
21:16Yes!
21:17Let's go.
21:18Oh, wait, wait, wait.
21:33Next up is an entrepreneur hoping to share the joy of her beloved family recipe.
21:46Let's go.
21:50Woo!
21:52Woo!
21:53I'm Joy B. Moore from Richmond, Virginia.
21:56Founder and CEO of Joy Bells.
21:59I'm asking for $600,000 for a 10% equity stake in my company.
22:03Woo!
22:04Woo!
22:04Sharks, let's be honest.
22:07You can't just eat at everybody's house or office party, especially during the holidays.
22:13Unless, of course, they're serving up Joy Bells.
22:16Joy Bells is home to that mouth-watering, southern, backwoods country deliciousness, honey.
22:23And we get to share that deliciousness with our award-winning peach, pumpkin, and sweet potato pies.
22:30Each won legacy recipes from my third great-grandmother and handed down with love,
22:36making me and my family the sixth generation to make these family recipes and the first generation
22:43to turn all of those traditions into a business.
22:47Mm-hmm.
22:48Our Joy Bells family of customers are growing us nationwide
22:51and have helped us achieve some pretty cool milestones,
22:55including Best Pie in the Nation by the American Pie Council.
23:01Yes, it's that good.
23:03Our mission?
23:04To spread love and joy that brings family and friends together with comfort food
23:10that transports and inspires nostalgia of your grandmama and them cooking.
23:15So who wants to help Joy Bells spread joy one pie at a time?
23:21Yeah.
23:21Can we eat?
23:23Yes.
23:27It's amazing.
23:28It's amazing.
23:30Pumpkin is insane.
23:31Thank you.
23:32These are recipes from, like I said, my third great-grandmother.
23:36I have worked hard to remain true to the spirit, the nature of these recipes.
23:42And yes, you have.
23:42I'm going to give you 10 out of 10.
23:44I've never given that for pie.
23:46Yay.
23:46This is amazing.
23:47They're all fantastic.
23:48Thank you.
23:49Thank you.
23:49It's a big old summer party in your mouth.
23:52Were you always in the baking business, or what did you do before this?
23:55For more than 30 years, I've baked these desserts, took them to work,
23:59given them for gifts.
24:00And I worked in a non-profit where we provide expanded out-of-school time learning,
24:09which is very near and dear to my heart.
24:12I am a thriving survivor of an untreated mentally ill mother, homeless from age 14 to 17.
24:20Wow.
24:20I lived in abandoned houses, ate out of dumpsters.
24:23And every day after school, I went to the YMCA, where I got a meal.
24:29And a teacher there, Miss Tina, I'll never forget.
24:32Joy, have you done your homework?
24:34And that was the reason I graduated school on time.
24:38With a 3.79 GPA, I will never forget because I'm proud of that.
24:42And if I can survive being homeless, if I can survive all of those things,
24:47still graduate school on time, intern as well.
24:49Good for you.
24:50Good for you.
24:50You should be really, really proud of that.
24:52So look, 600,010% imputes a $6 million.
24:57Like, that's a huge valuation.
24:59Yes.
24:59Now, why is it worth $6 million, Joy?
25:02We have lifetime sales of $16.1 million.
25:07Wow.
25:08I want to break out last year, revenue and profit,
25:11and then this year, forecasted revenue and profit.
25:152023 was $7.7 million.
25:20We had an 8.85% gross margin profit.
25:24We had 1.38% net profit.
25:30What are you going to do this year?
25:32This year, we're projecting $4.3 million.
25:35Why are your sales going from 7.7 to 4?
25:40We've reassessed cost of goods, and we pooled our ambient.
25:44What's ambient?
25:45It means it's shelf stable, loaded with preservatives.
25:48When Sam's Club, Foodline, and all of these big retailers came on,
25:52they wanted ambient so that they can have big volume sales.
25:55What I learned in that process is big volume sales for them
25:59does not mean big profits for me.
26:01Amen.
26:01So that's why we backtracked on that.
26:03We temporarily lost two of the clients until they can figure out
26:08how to bring our refrigerated product back then.
26:11Did it taste better, Joy?
26:12It does.
26:13I mean, because shelf stable products have preservatives in them,
26:16and they alter the taste of your product.
26:18How much does it cost to make, and what are you selling it for?
26:21Sweet potato is $5.23.
26:24To make?
26:25To make.
26:25Okay.
26:26What do you sell it for?
26:27We sell it for $7.84 for a 35% markup.
26:32And then what do they sell it for?
26:34$10.99.
26:35Last year, Joy, you did $7.7 million,
26:38and you only made how much on that net?
26:421.38%.
26:44So how are you going to get your pie down to $4.25?
26:48Then you'll make 10%.
26:50We have a new coal packer who's going to be handling...
26:53What will your cost be with the new coal packer?
26:56How is their price?
26:56Much better.
26:57How much better?
26:57We're starting at $4.96.
26:59You were at $5.23, and you're going to now be at $4.96.
27:04Not enough.
27:05Can you increase your price more?
27:07I'm sure we could.
27:08It just depends on the retailer.
27:10Joy, here's my concern.
27:13First of all, I think you heard it from everybody.
27:16Best pie we've ever had in the show.
27:18But I can't help you with the product.
27:20Increase your price or lower your cost.
27:23And I think you're working on both.
27:24I don't think I can help you with either of those things.
27:27I'm out.
27:28Thank you.
27:29The story's impressive.
27:31The product's good.
27:31Everybody agrees.
27:32But your model's broken.
27:34It's broken.
27:34Your cost of goods are a dollar too high.
27:37That's basically what we discovered.
27:38You know that already.
27:39You got some work to do there.
27:40Because you will never make money with this model.
27:43You just won't.
27:44You're great.
27:45Not for me.
27:46I'm out.
27:47First of all, the product's incredible, right?
27:49Just insanely good.
27:50But when you come in and ask for $600,000 for 10%, we have to figure out how we're going
27:55to give back that $600,000 times a lot, right?
27:58It'd be a no brainer if it was $100,000 for 10%.
28:01But at $600,000 for 10%, I have to say I'm out.
28:05I am disappointed to hear that.
28:07Number one, from going from being so young and being homeless and taking yourself and pulling
28:14yourself up out of the most difficult position as a child and becoming the woman you are
28:21is amazing and impressive, impressive sales.
28:26But $600,000 to come in and ask for that is a lot of money.
28:31I'm really sorry, Joy.
28:33I'm out.
28:35Everything you've done to date, it's like the great rags to riches story in America.
28:40I invested in Daisy Cakes and she raised her price from $22 to $70.
28:47Seventy?
28:48To her shock, she was able to sell them.
28:50And then she went on to Gold Belly and everything changed.
28:53She triples herself in Gold Belly.
28:55You know what has to be done, so just go do it.
28:58I'm sorry, I'm out.
28:59Thank you.
29:00Thank you, Joy.
29:01Good luck, Joy.
29:03Thank you for sharing your pies.
29:05You're welcome.
29:06Mwah.
29:07Mwah.
29:10I came, I tried, and for anyone else out there, no matter what things look like or how they feel,
29:16you keep moving.
29:18And I hope to go get you some.
29:21Mwah.
29:32Next into the tank is a way to bring home the fun of amusement parks.
29:37Mwah.
29:45Mwah.
29:46Hi, Sharks!
29:46My name is Michael Brigitte.
29:47And I'm Izoashaya.
29:49We're from Brooklyn, New York
29:50We're here seeking $100,000
29:53For 10% equity
29:55In our company
29:57Bumpees
29:58Sharks, as a father of six
30:01I can tell you
30:01Nothing beats the thrill of a day
30:04At the amusement park
30:05The lights, the rides, the bumper cars
30:08But long waiting lines and big crowds
30:11For just a two minute ride
30:12Can leave kids feeling very disappointed
30:15Especially when one of those children
30:17Is too short to meet the height requirements
30:19Like I was
30:20Trust me
30:22A car full of six upset kids
30:25Is no picnic
30:26So Sharks
30:27We decided to bring the fun
30:30Of the amusement park
30:31Home with
30:33Bumpees
30:34Bumpees
30:35Bumpees
30:36Cute
30:37Oh wow
30:38How cool is that
30:41That's pretty fun
30:43Bumpees is the world's first
30:46Patented
30:47At-home bumper car
30:48With an adorable
30:50Self-inflating character
30:52Built right on the car
30:54Isn't that fun?
30:55Come on guys
30:56Let's go
30:56Bumpees
30:57Bumpees
31:00Bumpees
31:00Let's go
31:02While ordinary bumper cars
31:04Simply move around
31:06Bumpees combines the thrill
31:08Of a ride-on car
31:09With the magic
31:10Of a beloved character
31:11Throw in some vibrant lights
31:12And some fun music
31:13And you have an unforgettable experience
31:15For children of all ages
31:17Bumpees inflates in seconds
31:19With the push of a button
31:21No pump required
31:22It's great for indoor
31:23Or outdoor use
31:25It runs on a rechargeable battery
31:26That lasts for hours of playtime
31:28And when you're finished
31:30Just turn it off
31:31And it deflates back into the car
31:32That's pretty cool
31:33But I know you're wondering
31:34Is it safe?
31:36Of course it's safe
31:37Bumpees integrates a five-point harness
31:40That will keep your child in place
31:41No matter what they bump into
31:43Plus parents can choose
31:44Between two speeds
31:45Depending on the child's age
31:47And abilities
31:48And guess what sharks
31:49We even included a remote
31:51For full parental control
31:54This is great for young ones
31:56As young as 18 months
31:57Or for children with disabilities
31:59That cannot operate
32:00The joysticks properly
32:02Who do we control it?
32:05The poor kid's like what?
32:09So sharks
32:10Who's ready
32:12To bring the fun
32:13Of the amusement park home
32:14With
32:17Bumpees
32:20Bumpees
32:20Alright kids
32:21Time to ride home
32:22Robert
32:23Are you up for a try?
32:25Go Robert go
32:26Come on Robert
32:27Come on Kevin
32:29Oh Kevin too
32:30Let's go
32:31Can I actually fit in this thing?
32:33Yeah you're gonna fit
32:33Give a nice tiny tush
32:35Don't break out the sleigh
32:37Oh my god
32:37Oh no
32:38Oh no
32:39Oh no
32:41Oh no
32:42Oh no
32:42Oh no
32:42Oh no
32:44Oh no
32:44Whoa
32:46Guys bump into each other
32:50Alright
32:51How was it?
32:52Was it fun?
32:52It was fun
32:56You look like an evil character
32:58Right now
32:59Oh no
33:02Kevin back to your evil lair
33:04I don't even get out of this thing
33:07Michael how much do you sell it for?
33:09What does it cost you to make?
33:10So it costs us $52 to make Landed
33:13We're currently selling it for $149.99 on Amazon
33:16That's not horrible
33:17That's not horrible at all
33:18It's super cute
33:18Good margin
33:19So did this idea exist somewhere else in a different form?
33:22There's little toy cars and stuff
33:23Of course there are all the ride on cars
33:25But what sets us apart is obviously our patented inflatable character
33:29No one else is going to be able to have the character
33:31So the base already existed
33:34But then you combined the inflatable dinosaurs
33:37Correct
33:38That's correct
33:38We have a patent on the design
33:41And a patent on the utility
33:42Is your character trademarked?
33:45Or could you do a license with a
33:46That's a fantastic question
33:48A Disney character
33:49That's exactly what we want to do
33:50Just to tell you a little bit about us
33:51I'm a very numbers guy
33:53And I'm very detail oriented
33:54So what I tried doing is I signed myself up to go for an accounting class
33:58And then I had a side business of selling products online
34:02I sold on eBay
34:03And that job took over my life
34:06So I literally dropped out of that class
34:07What were you selling on eBay?
34:09It was branded name electronics
34:11And we did millions of dollars in sales
34:13And after many years
34:16Michael approached me
34:17That why sell other people's brands?
34:20Let's have our own brand
34:22And let's import a product from China
34:23So we started with the toy category
34:26Then Michael bought in the pet category as well
34:29So you guys are a marketing company basically
34:30We are mainly Amazon guys
34:32Our pet brand is one of the top pet brands on Amazon
34:35What's the revenue?
34:36Last year I believe we hit around $7 million
34:39What we're investing in
34:40Today is going to be our
34:42Just bumpies
34:42Bumpies
34:43And what are your sales, Ezra?
34:46$520,000
34:47Wow
34:48Since we started selling nine months ago
34:51Wow, that's good
34:52Good for you
34:53And are you making money or
34:54Year to date we're in profit of a few thousand dollars
34:58What do you think the sales are going to be in the next 12 months?
35:01We're projecting this year to hit about a million dollars in sales
35:05And I would say next year about $2.2 million
35:08So why is your price so cheap?
35:10I'm suspicious
35:10$100,000 for 10%
35:12We believe that this company is going to be worth a lot, a lot more
35:17Tens of millions of dollars
35:18But we value the company much, much lower than what we really believe in it
35:23Because we want to get a deal with you guys today
35:25Guys look, what you guys have been able to do is great, right?
35:27And I think the offer is fair
35:29I just don't look at this and say, okay, in five years we've got a $25 or $30 or $50
35:33million business together
35:35That's what I'm looking for
35:36And so I think what you've accomplished is amazing
35:38But for those reasons, I'm out
35:42Sounds like you're doing well
35:43What do you need the money for?
35:44We obviously are here for a strategic partnership between the Sharks
35:48We believe that this could be something great with licensing
35:52Top-tier licensing, getting into big-box retail
35:54We don't need the money
35:55We need a strategic approach
35:57We know how hard it is to get someone on the phone just to give us a license like that
36:02And that's why we're here for more of a strategic partnership as opposed to a financial one
36:07All right, look, I'll give you $100,000 for 30%
36:11Guys, love you guys
36:13We love you
36:14My worry is you're not doing this full-time
36:17What am I, chopped liver over here?
36:18Yes, it's the first
36:19I hear it
36:20I'm not holding on
36:25I'm going to dress you all for just one second
36:28Israel baby honey, sweetie, poopsie, what are we doing here?
36:31I'm going to dress you all for
36:32Let me just finish with Robert for a second
36:34We believe that this is going to be focused my full-time
36:37The reason for that is I think Lori knows the value of a patent
36:41And being able to charge for that
36:42All right, I don't want to miss out
36:44I will give you $100,000
36:47What did Kevin offer you?
36:4930%
36:50Doesn't matter
36:50No, of course it matters
36:52That's not nice
36:53$100,000 for 25%
36:56And oh, by the way
36:58Oi, oi, a double oi
36:59Oi, oi, oi
37:00This is what I'm going to tell you
37:01First of all, I think it's adorable
37:04Cute, cute, cute item
37:05Thank you
37:05The only problem I have with this
37:08But
37:09The only problem I have is it's one product
37:12And it's just too small for me
37:15So love you
37:16And you haven't done one thing wrong
37:18But I'm sorry, I'm out
37:20Sorry to hear that
37:21However, you do start an offer
37:22You better invent new products
37:24One moment, please
37:24I'll make you an offer
37:25I'm going to give you the $100,000 for 10%
37:28And please say yes
37:28That's smart
37:29Ugh
37:32Wow
37:33Okay, I'll go down to 25
37:36Robert
37:36We have a few seconds to talk to each other
37:38What's to talk about?
37:39What would you have to talk about?
37:41Israel, what should I go down to?
37:43You're a great negotiator
37:44We really want to have
37:45Tell me what I should
37:46I believe my volume
37:49What do you do with me, Robert?
37:51I believe the value of this product
37:55And the value of the company is huge
37:57I don't know if Lori gets it
37:59No, I get it
38:00We have a competitor
38:01I get it, it's just that you don't have it yet
38:02Israel, I don't even talk about it
38:04We have it
38:04I'll go in with Barbara
38:06You got it
38:07But
38:08We need 15%
38:09I don't know if Lori understands
38:11Why are we talking to Lori?
38:13Your sale is done
38:14You don't have to do that anymore
38:15I want to make sure that we get
38:16The most sharks possible
38:18In this
38:19I need you guys to open the doors
38:22For top tier
38:22That's the easiest thing in the world
38:24Top tier licenses
38:24We did hundreds of millions of dollars
38:27She's out
38:28You got three offers
38:29You got three offers
38:30What do you want to do?
38:30You got to make a decision, guys
38:31Yeah
38:32Mark, are you coming back in?
38:34No
38:34You know, I'm feeling offended here
38:36Me too
38:36I feel invisible
38:37Of everyone on this panel
38:39There's no one more prepared
38:40For bringing you into the big box stores quickly
38:43She does
38:44I brought Comfy in
38:44And they made 80
38:46It's true
38:46$80 million in sales in two years
38:49But Barbara, why are you selling yourself?
38:51You don't need to sell yourself
38:52We made a great offer
38:53You got to decide, guys
38:54I would like to hear
38:56Kevin, do you want to
38:57I'm offended, really
38:59Israel, I got to be honest with you
39:01Both you and Michael
39:01The only way I would do this
39:03Is myself and my team
39:05Not that I don't love these people
39:06But I don't need them
39:07If I needed them
39:08That's double offense somehow
39:10Forget it
39:11So now you just got Robert and Kevin
39:13Israel, Michael
39:14Look, at this point in my life
39:16I only want to do business with people
39:18Who want to do business with me
39:19I made you a fair offer
39:20I even offered to go in with Barbara
39:22What is your offer?
39:23Every time I made you an offer
39:25You talk to Lori
39:26I then try to get your attention
39:28Then you talk to Mark
39:29If you don't want to do business with me
39:30I don't need to do business with you
39:32I'm out
39:34Uh-oh
39:48Four sharks are out
39:49Michael and Israel
39:50Had two offers on the table
39:51For their kids' ride-on toy
39:53Bumpies
39:54One offer from Kevin
39:55And another from Barbara and Robert
39:56But their hesitation
39:57Caused Barbara and Robert
39:59To drop out
39:59I'm sorry
40:00I believe all of your sharks
40:02I want to do business with all of you
40:04Listen, in all fairness
40:05I came down to 25
40:06All right
40:07You came down to 25?
40:09Yeah, I did
40:09I was at 30
40:10Barbara, we would love to have you back on board
40:12Is there anything we can say or do?
40:13No, not at all
40:14I have to have a great relationship with someone
40:16It's not a good start
40:18Sorry
40:19You have Kevin
40:20You do
40:21Which is by the...
40:29If I made a mistake
40:29I'm really sorry
40:30That's the type of person I am
40:32I'm honest
40:32And I take responsibility
40:33How about I offer you guys a royalty
40:36For the first 50,000 units
40:38That I'm going to sell
40:40Five dollar royalty
40:41That's a $250,000 return on your money
40:45Right there and then
40:46We would love to have you guys back in
40:49And we would love to cut a deal
40:51We feel we can take this
40:52Like $100,000
40:53$100,000 for 15%
40:56Plus the $5 royalty
40:59You and Barbara together?
41:00You got it
41:01Me and Barbara together
41:05Yes, you got a deal
41:06There you go
41:08Ta-da
41:08You got her back here
41:10I'm sorry
41:12That's all right
41:13Thank you so much
41:13You're so handsome
41:14I knew I'd forgive you
41:15I'm a sweet touch
41:16Thank you
41:17Great ending
41:18You'll do really great
41:19I promise you
41:20All right, guys
41:22Thank you so much
41:23That was close
41:24Thank you
41:24Thank you so much
41:25I appreciate it
41:26We're glad that we got you guys back
41:27You nearly lost it
41:29That's the fun part
41:35We did it, baby
41:36We got them back in
41:37I knew we could do it
41:38We are so excited
41:40We got a deal from Barbara and Robert
41:43These are two sharks that we came in
41:45Dying to become part of our company
41:48Robert, his passion
41:50His enthusiasm is exactly what we came for
41:53Barbara's experience with retail
41:55With licensing is exactly what we wanted
41:58And we cannot wait to work with them
42:00And to make millions of dollars together
42:03He's a phenomenal salesman
42:05He's a phenomenal salesman
42:06To bow around and wow
42:06You're a phenomenal salesperson
42:08He could have had you at 10%
42:10And now he's got to give you 15%
42:12Plus a $50 royalty
42:13He owned up to a mistake
42:14I'm okay with that
42:16He didn't read the room
42:17He overplayed his hand
42:18He overplayed his hand
42:18And he knew he did
42:19You had to love him for that
42:20I fell back in love with him
42:31And he said, I'll be filled with you
42:36She's a talented girl
42:36But he loved him for that
42:49He was his first mom
42:53Legenda Adriana Zanotto
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