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00:00Tonight on Shark Tank
00:04Listen
00:05What parent is going to hand real coffee to a child?
00:08This guy
00:08This arm has cut 80,000 biscuits
00:11Unbelievable
00:11We're projected to do 1.5 million dollars in sales
00:14Very smart
00:15We will not be profitable this year
00:17But the opportunity is big
00:19I don't get out of bed for 5%
00:21I was looking at my notes and it said
00:23Offer nothing, save your money
00:25Hello
00:34First up is a popular beverage
00:37Made for an unlikely consumer
00:47Hey Sharks, my name is Ethan
00:49And I'm 8 years old
00:51And my name is David, aka Dad
00:52We're from Alpharetta, Georgia
00:54And my age isn't important
00:55What is important
00:56Is we're here seeking $50,000
00:59For 5% of my company
01:02Yeah
01:03Sharks, every morning
01:04I wake up and have a hot
01:05Delicious cup of coffee
01:06So Ethan really does like coffee
01:08He's been stealing sips of mine
01:09Since he was little
01:11No, Dad
01:12I don't just like coffee
01:13I love coffee
01:15Interestingly though
01:16No real coffee brand
01:18Has ever been created
01:19Specifically for kids
01:20Yeah, that's not fair
01:22But the more kids
01:24Now there's kid coffee
01:25The world's first coffee for kids
01:28Okay, okay
01:29I know what you're thinking
01:30What parent is going to hand real coffee to a child
01:33This guy
01:36But don't worry, sharks
01:39Kid coffee is
01:40Ethan, tell them
01:4199.9% caffeine free
01:44That's less caffeine
01:45Than a single ounce of milk chocolate
01:47But that's not all
01:48Kid coffee is loaded with nutrition
01:50It's made with organic water-processed decaffeinated coffee
01:53Which is rich in antioxidants
01:54It has prebiotic fiber for healthy digestion
01:56Calcium for strong bones
01:58And
01:58So much more
01:59So much more
02:00Kid coffee is an experience for kids to enjoy with their parents
02:04For happier, healthier mornings
02:05Some sharks want to take a sip
02:08With me
02:09At the big kid's table
02:11Oh, for sure
02:12Great job, Ethan
02:14In front of you are our three signature flavors
02:16It looks like on your right is the Choco Latte
02:19Which is a velvety cacao flavor
02:21More like a traditional hot chocolate
02:22You have the original latte
02:24For a delicious coffee taste
02:26Wow
02:26It's a vanilla
02:26My personal favorite
02:28My mature palate
02:31Camelotte
02:31That's your favorite
02:33I'm going to start with that
02:34David, Ethan
02:35This is really delicious
02:36The chocolate
02:36Ethan, why did you want to become an entrepreneur?
02:39So it's fun to have a business
02:42And I really wanted to make some money
02:44And I love making stuff
02:45So
02:45You wanted to make some money?
02:47What did you want to spend your money on?
02:48Well, I wanted to get a big house
02:50Uh-huh
02:52Ethan, how are you going to sell this?
02:54What's the game plan for world domination of Kids Coffee?
02:59I'll take that one, yeah
03:01So
03:01This is not my first consumer product business
03:03We've launched direct-to-consumer, right?
03:05Through our website
03:06We've expanded already pretty quickly into other channels as well
03:10So
03:10Of course, selling on Amazon
03:11Is this your full-time gig right now?
03:13It's not my full-time gig right now
03:15No, I have also another business that I am working in
03:18It's product development, manufacturing
03:19What do you make it for?
03:21What do you sell it for?
03:22I sell it to people for $14
03:24What does it cost you to make it?
03:26$3.50
03:27Why is it so high?
03:29I will say the ingredients are excellent ingredients
03:31So that's truly a difference
03:33They are really good, yeah
03:34And so with just slightly larger volume
03:37We can bring it down to $2.80 quickly
03:39What are your sales?
03:42$75,000
03:43Wow
03:44Yeah, Ethan
03:45Good job
03:46When did you start the business?
03:48April of this year
03:49April of this year?
03:50How are you selling it? Just Amazon?
03:52So most of that is all D2C
03:53Is truly through our website?
03:54So is it using TikTok or Facebook?
03:57Or how are you letting people know you even exist?
03:59We do videos and we kind of put it onto Instagram so people find it
04:04Are you part of that yourself?
04:06Yeah, I do a lot of the videos
04:08There is a large part to our story about
04:10Ethan has broken both of his legs
04:12And that was a nutritional deficiency
04:14That we found out only later
04:15That he wasn't getting enough calcium
04:17So long story short
04:18There's multiple parts here
04:20Where I wanted him to learn a business
04:21And then the idea of Kid Coffee
04:23Truly was Ethan liking coffee
04:25And the nutrition aspect came together
04:28And we said
04:28You want coffee every morning?
04:30I can make a coffee that's great for you
04:31That also fills these nutritional gaps
04:34So he broke his legs at two different times?
04:37Two different times
04:37So he's broken both of his tidies
04:39Wow
04:39Your kids, based on public data, need more calcium, right?
04:42Milk consumption, you can see a chart
04:43It's continued downhill for years now
04:46I like the marketing idea that kids would like to have a cup of coffee
04:50But actually it's very nutritious
04:52That's what's interesting about it
04:55David, Ethan, I think what you've done is phenomenal, right?
04:58I mean, it's great, the product's great
05:00I mean, the nutrition's great
05:01The problem as a business is there's just so much to do yet, right?
05:05You're so young that, you know, there's a lot of uncertainty
05:10I'd rather be in a position just to pour gas on the fire
05:13For those reasons, I'm out
05:16I will say, I mean, I think the part that we've left out here
05:19Truly is the fact, yes, we're early
05:21But the opportunity is big
05:24We already have interest today
05:25For instance, we have coffee shops now selling Kid Coffee
05:27So very interesting opportunity
05:30Right now it's only three different chains, right?
05:31That are selling
05:32They're selling two bags a day per shop
05:35Minimum and then
05:36But then serving, right?
05:37So serving Kid Coffee
05:38So it's truly
05:39That's very interesting
05:40Just to level set for the audience
05:42The average kind bar that you sell in a Starbucks
05:45Is 0.7 a day
05:47So if you're doing two a day
05:49It's a very respectable number
05:51And so we're talking not Starbucks
05:52We're talking mom and pop locally run
05:55You know what?
05:55I take that all back
05:56I take back what I said
05:57I like using the coffee shops as leverage to sell
06:02Right there at the coffee shop
06:04Um, I'll make you an offer
06:06You know what?
06:07I was thinking it too
06:08Okay, I'll make you an offer as well
06:10I'll do the 50k for 30%
06:14So wait a minute
06:15Let me just tell you what I was thinking
06:16I love your packaging
06:18It is cute as can be
06:20I love the flavors
06:22I love that you put in nutrition
06:24So everything you did is like A++
06:28Um, I don't know
06:29Mark, would you want to go in with me?
06:30Yeah, absolutely
06:31So how about we do the $50,000 for 20%?
06:37That works for us
06:3850,000, 20%?
06:41I appreciate the offer
06:42I would ask
06:43But why the much lower end?
06:45Of course, at the end of the day of valuation
06:47We know we're going to have to raise capital again, right?
06:49No, you won't
06:50If you won't if you take this deal
06:51Not if you do it right
06:52If you do it right
06:52You won't have to raise capital again
06:54Here's what I have in mind
06:55We go into a few coffee shops
06:56Which I think is the better approach, right?
06:59Because you don't have to spend the marketing
07:00The advertising
07:01And you just get displays right there
07:03And it's great for them
07:05Because you can bring your son or daughter in
07:07And it makes great marketing
07:08And it's, you know
07:09They're trying to get more people in the door
07:11That acts as your leverage
07:13And if you get any leverage there at all
07:15If it works
07:16You'll never have to raise money again
07:19I'm very interested to see it
07:20Daniel, I understand
07:21I mean, you have a lot of experience in this space as well
07:24I'll do the deal with you for 20%
07:27So we have 20% for 50
07:2920% or 50
07:30Okay
07:31I don't think you can get less
07:32What would you like?
07:34What do you think you should?
07:34I think maybe 10% for $50,000
07:38I agree with Ethan
07:39I think he has a very good head on his shoulders
07:42You do have three offers
07:43And believe me
07:44At the beginning of this pitch
07:45I thought you'd get zero
07:46But when you hit that coffee shop button
07:48That sounded interesting
07:5080% of a watermelon is a whole lot better
07:52Than 100% of a grape
07:54I'll ask
07:55Would anyone accept 10%
07:57$50,000
07:57Deal done
07:59Let's go and grow
08:00David, the best I can do is as follows
08:02This is my final offer
08:03I'll do 20%
08:05But if and when you decide to join full-time
08:09I'll give you 5% in stock options
08:14Guys, I'll do the 50K for 15%
08:17Okay
08:21I think Daniel
08:22I mean, Daniel has offered the exact same
08:24Are we having a deal or not?
08:25I'll do the deal
08:2650K for 15%
08:28No contingencies at all
08:29I'll turn on the social like you can't believe
08:32There's only one Mr. Wonderful
08:34The rest are discount sharks
08:36I think we need just a minute
08:37Do we have a second to talk?
08:38Take a quick minute
08:42It's going to fire his dad
08:43It's going to fire his dad
08:44It's going to fire his dad
08:45It's going to fire his percentage
08:47At the end of the day
08:49True
09:05Daniel, we accept your offer
09:07Congratulations, guys
09:08Let's do it
09:09Congratulations
09:10Cheers
09:11I just picked a perfect partner for this year
09:13Ethan, you have to keep that smile always, okay?
09:17Nice to meet you
09:19Look forward to working with you
09:20Thank you
09:21You're a good day
09:22Thank you
09:22Well done
09:23Good job, Ethan
09:27Oh, man
09:28That was great
09:32Kids, if you start a business
09:33You can be your own boss
09:35And you can be on Shark Tank
09:49Next up are baked goods that everyone can enjoy
10:03Hi, sharks
10:04I'm Chanel Deong from Longmont, Colorado
10:07And I'm here seeking $150,000 for 5% in my company
10:11Growing up in my family, food was our love language
10:15From my Filipino dad's famous lumpia to my American mom's iconic cheesecake
10:21And me, I made it my personal mission to perfect my own biscuit recipe
10:26But in a twist of fate, what happened when I became gluten-free?
10:31Sharks, let's spill the tea on gluten-free
10:33Options still get a bad rap because honestly, they're just lacking that special something
10:38Well, allow me to be your gluten-free guru because I have cracked the code
10:46Introducing Good Love Foods
10:48A game-changing line of frozen, ready-to-bake nostalgic faves that will blow your mind
10:54Because we're not just good for gluten-free, we're unbelievably gluten-free
10:58Think into our fluffy buttermilk biscuits
11:01Indulge in our gooey cinnamon rolls
11:03And after trying our flaky puff pastry
11:05You'll be tempted to read the package again
11:07Just to make sure it's actually GF
11:10Good Love Foods is celiac-safe
11:12Allergen-friendly
11:13And delicious enough for all
11:15So, who wants to be my GFF, a.k.a. Gluten-free friend
11:19And risk it for this biscuit?
11:22Yeah, that's great
11:24We'll risk it for a biscuit
11:25Sharks, in front of you is our mouth-watering lineup of gluten-free goods baked fresh just for you
11:31Dig in and enjoy
11:32And after that first bite, you're gonna feel that Good Love
11:36This is very exciting
11:38So now, oh, oh really?
11:41Let's do it
11:42Aren't you hungry for some good love?
11:45Come and get your yummy good love
11:48Ain't no gluten-free, it's good love
11:51I'll do it
11:53Oh my God
12:05Give it up for our celiacs, yeah
12:09This is amazing
12:12This shit's incredible
12:13Like, blow my mind amazing
12:14Yes, thank you
12:15The biscuit is, and I'm like, oh my God
12:18We're prepared for those because that's why we like to blow people's minds
12:21I'm a celiac and there's nothing on the market like it
12:23Unbelievable, I don't believe that it's gluten-free
12:26Nut-free, egg-free, soy-free, oat-free
12:29No, no, not true
12:30Come on, come clean with us
12:31So how are you compensating?
12:32Are you adding a lot of sodium and fat?
12:34No, it's all natural ingredients
12:36In our core line, the biscuits and minerals and puff pastry, we use the sweet cream butter
12:39So that is our fat in our products, but we're seed oil-free, we're free from all other oils
12:44And any other fats other than just good old-fashioned butter
12:47Was it refrigerated or is it shelf-stable?
12:49It's frozen
12:49So when I buy it, you ship it to me with dry ice?
12:53Ship it to you with dry ice
12:54But Chanel, isn't that super hard?
12:56I mean
12:56Oh my gosh, it's so hard, but you know what?
12:58The best thing about what we've done, we've laid the groundwork for our D2C channel
13:03And it has blown up
13:04What percentage of your sales are D2C versus through source?
13:08About 85% is D2C
13:10But is that sustainable?
13:12Because to do D2C with the frozen, it's very hard
13:15I completely get it, it is hard, and you know what?
13:17We've had some months where, because of our production rate, we weren't able to, you know, break even for the
13:22month
13:22But it's all worth it, because last year, this time, we had two posts go viral
13:26Our online sales absolutely blew up
13:29And in the last trailing 12 months, we've done $360,000 in sales
13:33Good for you
13:34Isn't it hard for you to ship it with the ice? Isn't it very expensive?
13:37It is quite expensive, so we've got really healthy margins
13:40Margins on all of our products are about 75%
13:43You include the shipping?
13:43With the shipping, it's more like 25-ish percent
13:46How much would this retail for?
13:48Retail for, that's $11.99 in retail
13:50Online, it's a few dollars more because of the premium that we have to charge for an online shipping
13:55So really, it's about customer acquisition now, right?
13:57Well, our customers, they're, we call them feral
14:00Because we've literally had to stifle our sales online because we cannot keep up with our demand
14:06I can understand why people keep coming back from the world
14:09That said, your business model is very, very difficult
14:14A lot of the companies that I've worked with who try to do this, it's very hard to sustain
14:18And the prices you're expecting people to pay are
14:20Our return customer rate is 30-35%
14:23Our customers keep on coming back
14:25Our retail sales are absolutely phenomenal as well
14:27So we are working on having a turnkey solution for our D2C so we can make our profit that way
14:33While we're getting into distribution
14:35So one of the things we did is we invested in our own facility last year
14:38We did try to find a co-packer because, again, our demand was just soaring
14:42We couldn't find one and it kind of fell into our lap
14:45We sold our house, we moved towns, we invested in our own facility
14:49And now we self-manufacture
14:51A lot of it is done by hands, which is the reason why we're asking
14:54That's why you're capped out in production, right?
14:56Correct, yeah
14:56What do you envision now for your company five years out?
14:59Like, we didn't really want to go
15:00Five years out, I mean, really, we do want to be that grocery store staple
15:03One, we've proved it by our demand
15:04We know that our customers love our products, continue to come back
15:07This is so unique, but on top of it, they taste good
15:10They're better than other options that are the gluten option
15:12Listen, Chanel
15:13Yes
15:14I do think the product is off the charts
15:16That said, you're asking Putes a $3 million valuation
15:20That's like an 8x revenue multiple
15:23Why are you asking for such a high valuation?
15:25We are on track to exceed $500,000 in sales this year already
15:28Are you going to make any money on that?
15:29And we're going to be over $1.5 million next year
15:32What do you make on the $500,000?
15:34We are breaking even right now
15:35We will be making a profit this year for the first time
15:37And I will say
15:38How much of a profit do you expect to make with the $500,000?
15:4220%, yeah
15:43My concern about your deal is your extreme valuation
15:46Given where you are right now
15:47Because you're not really making any money
15:49Clearly, there's demand for the product
15:51I'm not kidding when I say our customers are feral
15:53We've had to do a pre-order basis
15:56Because our website has been flooded with orders
15:59I will turn it on for 30 minutes
16:00And get $15,000 of sales within 30 minutes
16:03And have to shut it off
16:04And so then
16:05It's a good problem to have
16:07So when you turn it on
16:08You're so on back order
16:10That you just shut it off
16:11We shut it off
16:12So that's the process
16:13So our customers know that it's a pre-order
16:14So that we get all those orders in
16:16We can plan for it
16:17Then we basically
16:18We get all of our raw materials
16:19Produce it
16:20Drop it off at our fulfillment partner
16:21While at the same time
16:22And we also self-distribute
16:24To our local retailers
16:25Just to be clear
16:25That is a very cool thing
16:27But scaling that up
16:29That feral consumer
16:31Will be hard to sustain forever
16:33And you haven't fully figured out
16:35How to deliver the retail solution
16:37And it is
16:38I would say
16:39Just one second
16:39It's merciless in the freezers
16:41Because there's a very limited amount of space
16:43Oh yeah, I totally agree
16:44And it's going to be very hard
16:45And your price points are tough
16:47And you're not there yet
16:49So for those reasons
16:50I'm out
16:51I wish you the best
16:53Thank you
16:53But I'm out
16:54I thank you
16:55But I will also just say that
16:56When it comes to retail
16:58Our retail partners actually tell us
17:00That they love our products
17:01Because they fly off the shelves
17:03I think you've done a wonderful job here
17:05You had an answer for everything
17:06You seem so sure of your footing
17:09That's what makes me uncomfortable
17:10It's almost like
17:12You got all the answers
17:13I don't think you quite know
17:16What you're in for on the freezer space
17:18I had one company
17:19I have invested
17:20Daisy Cakes
17:21Was directed to the consumer
17:22Right
17:22Taking her into the frozen foods department
17:25We were both naive
17:27It was a dismal failure
17:28And we lost so much money on it
17:30And that's a little raw in my memory
17:32Yeah
17:33I wish you luck
17:34But I'm out
17:36Okay
17:36So what are you looking for in a shark?
17:39I really need that retail expertise honestly
17:42But also where we need help is production
17:44This arm has cut 80,000 biscuits on its own
17:48Let me clear the field a bit
17:4980,000 cinnamon rolls I've cut with this arm right here
17:52You've done a great job
17:53The product's maybe one of the best gluten-free we've ever tried
17:56It doesn't taste like
17:58That's very important
17:59Thank you
18:00I find your valuation extreme
18:02You're not worth 3 million bucks
18:03You're not even making any money
18:04And I'm very concerned about the logistics around production
18:07Because once you get involved with freezer space
18:11And you get allocated a slot in there
18:13You can't drop an order
18:15It's got to be there
18:16There's massive penalties
18:17They don't want empty space
18:19And you don't have that nailed down yet
18:21You're not ready for big time retail
18:23I mean his direct-to-consumer thing
18:25I get it
18:25But I would have wanted to see
18:27That you would actually fulfill 40, 50, 60, 70 stores
18:30With a major retailer in a test
18:32And not be penalized every week
18:34As you will find out soon
18:38I'm out
18:38Thanks
18:40Okay
18:40Thank you
18:41Your upside is from the frozen food aisle
18:43Yeah
18:43And that's not something I have much expertise in
18:46Great business for you
18:48But it's just not my kind of thing
18:50I'm out
18:50Okay
18:51I will say also
18:53That's why I'm in this
18:54Because I know it's hard
18:55We're going to get there
18:56I have no doubt you will
18:57I just need that in
18:58To get a little bit of help in that scaling
19:00And we will be the next freezer staple
19:03I promise you
19:04I have no doubt
19:08Well I guess there's just me
19:11Lori
19:24Four sharks are out
19:25Lori is Chanel's last chance for a deal
19:28For her gluten-free baked goods company
19:30Good Love Foods
19:32Listen, I'm not afraid of the freezer space
19:36I'm going to give you an offer
19:38Okay
19:38Might be a little higher than what you want
19:40A little sharky
19:41A little sharky
19:44I do think you came in
19:46Your valuations a little off
19:47For where you're at
19:48You're at the precipice
19:50But you've got a long way to go
19:51You need a mighty shark
19:52And you need somebody to get in there with you
19:54Down and dirty
19:54And I love to do that
19:56I had Bantam Bagel
19:57Which we had in Starbuck Nationwide
20:00Stores all over the country
20:01And then they got acquired
20:03Pizza Cupcake
20:04We now have in Target
20:05And in Kroger
20:06Frozen Farmer we have
20:08And everybody's doing millions and millions in sales
20:11Okay, so
20:13Here's my offer
20:15$150,000 for 20%
20:21But I'll get you in everywhere
20:22I know
20:23And I think you need to be everywhere
20:25And I think we will only perfect
20:27What's already pretty damn good
20:30My vision for you is
20:31You become known as
20:33The gluten-free brand for baking
20:36Yes
20:36You want to be it
20:37Like that's it
20:38No one else
20:39Yeah
20:40Would you take 18%?
20:47I find it fascinating
20:48That you went for 18 and not 15
20:50That shows some deep level of sophistication
20:54Or desperation
20:55I think it's a formula
20:56I thought 18% was respectful
20:59I think in your mind
21:00You thought she wants 20
21:02So I'm going to be respectful
21:04Knowing she thinks 20 is her value
21:05But I'm going to go 18
21:07Because it's just a little bit
21:08And let's see if she'll do it
21:10And you know what?
21:12I will
21:15You want to know why?
21:17Because that's what partners do
21:19Give a little, get a little
21:20Thank you
21:21Thank you
21:21Thank you
21:22Thank you
21:22Good job
21:23Yes, Chanel, well done
21:25Thank you
21:25Bye
21:26Yeah, we might be an early stage company
21:28And there's some risks involved
21:30But Lori can see our potential
21:32And that's all we really are asking for
21:34Because we know what our value is
21:35And we know we're going to take this brand places
21:37So it feels great to have someone that believes in us too
21:41In season 15, we watched Kristen Dunning make a deal with Candice Nelson
21:46For her soaps for sensitive skin company, Gently Soap
21:49People with ultra sensitive skin finally have a choice
21:53Let's see what she's up to now
21:54The night my episode aired
21:56We sold out of every single bar soap that we had
21:59That was over 32,000 bar soaps
22:02There's no way to prepare yourself for a moment of virality
22:05This was a very challenging moment of my life
22:08But I was able to find empowerment through my community
22:12Thank you guys for coming
22:13I called up my church friends, my sorority sisters
22:17And they were all in here volunteering
22:19So that way we could get all these orders out before Christmas
22:21Running customer service while you're also trying to quality control all the products
22:26Be a face of the brand
22:27It's overwhelming
22:29We run everything for our business in Google Sheets
22:32Google Workspace has been my lifeline
22:34I have used Sheets for inventory tracking, profitability monitoring
22:38And when I heard that they were coming out with this AI assistant called Gemini
22:42I was like, sign me up
22:45If I typed in, can you create a promotional calendar template for our bath bar bundles
22:51It will schedule out all of our social media
22:53And it's even giving us a budget for every time of the year
22:56And it knows that we have less of a budget in August than we do in December
23:00Saves a lot of time
23:01A lot of time and money
23:03And the year before I went to Shark Tank
23:04Gently did $66,000 in sales
23:07It's been a year since we closed our deal with Candice
23:10And Gently has done over $1 million in sales
23:13Remember those days when you were selling at the farmer's market?
23:16Oh my gosh
23:17Candice is very hands-on
23:19We meet every other Monday
23:20And I was able to plug into her network
23:23Which is exceptional because she's Candice Nelson
23:26We're a top 5 best-selling product in 13 Loon
23:29That is exactly your target market
23:32In the tank, Candice mentioned that she could get me into the beauty retailer 13 Loon
23:36And she delivered
23:37We launched in their flagship location
23:39And we are now also online with them on their e-commerce store
23:42But what I'm most excited about is
23:45We're on Oprah's Favorite Things!
23:46It means that we were tried and tested by Oprah Winfrey herself
23:50And she picked us out of thousands and thousands of brands out there
23:55Today is about community
23:58Whether it was raising me, volunteering your time, or a shoulder to cry on when I really needed it
24:04Being where we are now never even seemed the possibility
24:08Shark Tank has made that small dream of beautiful reality
24:12I get to wake up every single day
24:14And bring joy to people's lives
24:16In the way that I feel like I was always meant to
24:18Gently is now a brand that I know that people will resonate with
24:22And love for years and years to come
24:39Next up is a product to attract the right kind of visitors
24:51Hey Sharks, I'm Susan Vandergriff from Dunlap, Tennessee
24:55And I'm here seeking $150,000 for a 10% stake in my company
25:00Shhh, listen
25:07Sharks, did you hear that?
25:10Did you know that hearing birdsong every day can actually improve your mental health?
25:15Birdwashing isn't just a hobby, it's a happiness booster
25:18But bringing birds to your backyard with a feeder?
25:21Not as easy as it sounds
25:23Those off-the-shelf mixes are packed with generic seeds
25:27That may not attract the birds that you're hoping to see
25:30Bird species vary from place to place
25:33And each have their own unique taste
25:36What works for Barbara's birds in New York City
25:39Isn't gonna fly with my birds down in Tennessee
25:42Because their favorite foods just aren't the same
25:45And that's why I created Happy Birdwatcher
25:48Premium, all-natural bird seed blends
25:52Tailored for the birds found in your area right now
25:55You can simply go to our website
25:57And answer a few questions about your bird feeder type
26:02And the birds that you wanna see
26:04And we'll use bird sighting data for your zip code
26:09To curate a premium blend of seed just for you
26:13It is bespoke bird seed
26:16Delivered to your door in eco-friendly, plastic-free packaging
26:20So sharks, who's ready to bring more birds to the yard
26:25And cash in on nature's happiness currency
26:28With Happy Birdwatcher?
26:30Good job
26:31Thank you
26:32You know it's very appealing to think
26:35That you could bring the bird that you like to you
26:38By the type of food you put out
26:39Yes, and that's what we're doing
26:41That other bird seed companies aren't doing
26:43We use bird sighting data
26:45That's how we know what birds are in your zip code
26:48To actually curate a custom blend just for you
26:51Susan, tell us about the business
26:53What do you sell them for?
26:55And then your overall business
26:56Yeah, sure
26:56This is our most popular
26:58It's our Simply Seeds Happy Seed Box
27:00So you get a 10-pound bag of seed curated for you
27:04And your zip code
27:05And the birds you want to see
27:06Along with a specialty mix
27:08For this, we charge $49 as full price
27:12To make this, this is $26.79
27:14We make about $22 at full price
27:17Because it takes a lot of time to customize it, right?
27:20Per unit, that is calculating in our labor costs
27:23Now I will say that with more capital
27:26And with an investment
27:27I feel that I can lower our cogs by probably $3 to $4
27:31I'm curious
27:32I see you have kind of premium goods in here
27:34Yes
27:34These are sunflower seeds
27:36These are peanuts
27:37Yes
27:37So the big thing to me in your cell
27:40Is 100% that I'm going to attract a certain bird
27:44Yes
27:44That to me is why your product is great
27:47It's because I want to see a special bird
27:50But maybe I never catch
27:51Right, and every bag is made to order and customized
27:54This is why your customer goods are high
27:56Every customer
27:56You have to tell that story
27:57Because this is not about bird health
28:00It's not like you're feeding your dog better food
28:02Sure, right
28:02You don't give a about the bird
28:04You just want to see it
28:05We help people attract more birds and feel happier
28:09Look, what are your sales?
28:11Lifetime sales are $459,000
28:14All right
28:14We launched in 2021
28:16All right
28:17And that year we only did $9,000
28:19In 2022, we did $109,000 in sales
28:232023, we did $189,000
28:26Year to date, we've done $152,000 this year
28:30But we project we're going to end the year around $360,000
28:33You don't make any money on that?
28:34We will not be profitable this year
28:38Did you watch the Home Viewer episode of Shark Tank?
28:43Yes, I do
28:44Yes, I know about Home Viewer
28:46I know that I love birds
28:48I'm struggling a lot with your ability to scale this up
28:53Okay
28:53Your cost of production is $26.79, and you're selling to consumers at $49,000
28:58Even if you sell more, you're never going to make money
29:00Because that is too little margin for all of the costs to run your business
29:05If a shark came on board, how would you make sure that you're actually going to be able to sustainably
29:12build this business?
29:13Yes, so wild bird food is a $4 billion industry
29:1757 million homes in the U.S. have at least one bird feeder
29:22We haven't even begun to scratch the surface
29:25How are you going to get there?
29:27Of the market
29:27With more capital, and honestly, I'm here for money, but I'm here for a mentor
29:33I want to learn from the best
29:34I'm a quick learner, and I will do what I need to do to make Happy Bird Watcher my legacy
29:42Susan, I believe that you are the premier bird seed woman in America
29:46I buy that, okay?
29:48Thank you
29:48I mean, I'm really intrigued because this is unique
29:52We haven't quite had anything like this on Shark Tank
29:54What I don't like is your business model
29:56Because no matter how you scale here, you're not profitable
30:01Look, it's not for me, Susan, I wish you the best of luck
30:04I'm out
30:05Susan, along the same lines
30:06Thank you
30:06You're a service business pretending to be a product business
30:11And that's your problem, right?
30:12Your high-touch service is what separates you
30:16But you don't charge for it
30:17Which reduces your margin and makes it very hard for you to be profitable
30:21You need to separate those two things
30:24And make it, if you want me to customize it
30:27And tell you about your area for an extra $10
30:29I will customize what we'll do for you
30:32And it also allows you to develop a little better relationship with your customer
30:36And so, to me, that's where you have to get, right?
30:40So, you're not there yet
30:41So, for those reasons, I'm out
30:42But you have a really good chance once you figure that out
30:45Thank you, that's excellent feedback
30:46Susan, I look at it as it's a niche product and a niche market
30:50Um, it's not the right business for me
30:53I'm so sorry
30:54I'm out
30:55But I wish you good luck
30:56And I will definitely gift this
30:57Thank you
30:58Because I think it's so smart and so good
31:00Thank you, Lori
31:01I appreciate that
31:02Well, you're going to add a lot of joy to my terrace in New York City
31:05And I'll be your subscriber
31:06But I just don't see this business as being investable
31:10So, I'm out
31:13Thank you
31:14Thank you
31:14You still have Daniel who's involved in birds
31:16Daniel
31:17Can I just say
31:17And seeds
31:19Everything that you've done with Kind is such an inspiration to me
31:25And it's just an honor to be standing here
31:28Thank you, Susan
31:28Um, you still have a lot to sort out
31:31Because you have to figure out your business model
31:34And your cost structure
31:35Lower your costs
31:37Increase your prices
31:38If you can
31:38If the market can bear it
31:40But I think you have something very strong here
31:42The truth is
31:43You've already won
31:45Because
31:46A lot of people don't understand that
31:48The journey that we're all on
31:50Is much more important than the destination
31:52Entrepreneurs are on a journey
31:54We're here to create
31:55To discover
31:56Every moment matters
31:57And the magic of the birds
31:58Helps you
31:59Bring so much happiness and light to so many people
32:02I think you're gonna be very successful financially
32:05But until you have that base figured out
32:08It would be unfair to come as an investor
32:11And for those reasons, I'm out
32:12Okay
32:14Thank you
32:14Good luck, Susan
32:15Thank you all very much
32:16Good luck
32:17We're gonna listen to birds from now on
32:18Good job today
32:19Thank you
32:21I was really hoping to get a deal with Daniel
32:24Because I know he's a bird lover
32:25And he's investing into other bird companies
32:28But I heard the feedback that the sharks gave
32:31That not quite investable yet
32:33So this whole experience has just been fantastic
32:38So wouldn't trade it for anything
32:52Next into the tank is a convenient way to preserve your family history
33:05Hi sharks, my name is Charlie Green
33:06I'm from Los Angeles, California
33:08And I'm here seeking $300,000 for 5% equity in my company, Remento
33:13Sharks, the stories of our parents and our grandparents keep our family history alive across generations
33:20And yet far too often when we lose those people, we lose those stories too
33:24Well, with Remento, we have built the easiest way ever created to keep those stories alive forever
33:30Remento's life story books transform a parent or grandparent's memory of the past into a keepsake book for the future
33:37But unlike anything you've ever seen, Remento books completely write themselves
33:42See, every week, Remento sends your loved one a new storytelling prompt
33:45And then without any apps to download or logins or passwords, they record their spoken answer
33:51No writing required
33:52Now, some of the storytelling prompts that they receive are handpicked by members of your family
33:57Like a photograph from their childhood or a question about their hometown growing up
34:01Our first-of-its-kind speech-to-story technology automatically transforms those recordings into written stories
34:09Compiles those stories into a keepsake book
34:12Remento books contain a QR code printed inside that when you scan link directly to the recording used to write
34:19that story
34:20So Sharks, who's ready to make history and help families preserve memories and stories like never before?
34:27So the book that you have right in front of you is actually a book that my sister and I
34:32created with our mom
34:33So what does it cost to do this project?
34:35So our base price for Remento is $99
34:38For that price, we are bundling a one-year subscription to our digital product with a credit for a hardcover
34:45color-printed book
34:46Our average order value is $119
34:49We have a couple of add-ons that people can add
34:52We take on a liability when we go ahead and book that transaction of $16 to print and ship the
34:59books
34:59That leaves us with $103 that's an 86% profit on that
35:04But here's the problem and here's the challenge I see for you
35:06My kids, they try to get them to connect to it
35:10Can you integrate that to social media?
35:12So it's the platform where kids go that my grandkids or whoever can log into
35:18And because that's the medium they're most comfortable with
35:22It's exactly the way the product is designed today
35:23It's a digital product with a physical complement
35:26And the reason why it's a digital subscription is to be able to maintain access
35:29Can you tell us about yourself for a minute?
35:31Where did you come from?
35:32How did you become such a good presenter? What happened?
35:36I'll tell you my connection to this business stems very much from personal experience
35:41It was a couple days after my 10th birthday that we lost my dad on September 11th
35:48Sorry
35:48Oh
35:48In 2001
35:50And it was in the years after 2001
35:52In the towers?
35:53He was on United Flight 93
35:54Oh, wow
35:55Which was headed to the nation's capital
35:57Wow
35:57But ended up crashing in a field in Pennsylvania
36:00I'm sorry to hear that
36:00Pennsylvania after the passenger's phone pack
36:03He's a piece of American history in your family there
36:04It is, yeah
36:05An American hero
36:06He is an American hero
36:07Yes
36:09Well, it was in the years after 2001 that I spent a lot of time thinking about his legacy
36:13Um, both in terms of how we would keep his legacy alive as a family
36:19He would be so proud of you
36:20Just to see you stand with such presence and such strength and such beauty
36:26I'm sure he is and I'm sure he's very proud of you
36:30So, sorry, keep going
36:32I'm gonna try to get this out
36:33I'm really gonna try
36:36Um, in that period of time after 2001 I spent a lot of time thinking about his legacy
36:41Um, both in terms of how we would remember him as a family
36:44And also how he would be remembered in memorials and museums across this country
36:49And I remember coming to the realization as a really young kid that there were so many questions
36:55That I was never gonna have the chance to ask him
36:57And it's why when my mom was diagnosed with stage 3 lung cancer years later
37:03Uh, I knew I could not miss the opportunity to ask her the questions that I never had a chance
37:07to ask him
37:08And what happened to your mother?
37:10My mom's in full remission right now
37:11Yeah!
37:12Yay!
37:13Yeah, absolutely
37:14Oh, that's so good
37:14Charlie, what is your deal?
37:17Like, I was stunned at your presentations
37:18Like, you could be President Obama or, you know, this flawless presentation
37:23What's your background? How do you have such presence?
37:26After undergrad, I moved to Washington, D.C.
37:28Started my career in journalism
37:30I then became a speechwriter in the Obama administration
37:32Oh my god, I got you!
37:35Oh my god!
37:36That's what it is
37:37Um, and then I worked at 21st Century Fox for a while
37:41Got my MBA and then started Remento
37:44How long have you been doing it for?
37:46We started Remento three years ago
37:48How big a business is this now?
37:50In the last ten months, which was the duration of how long this product has been in market
37:54We've done $620,000 in sales
37:57Good for you, yeah
37:58We're projected to do $1.5 million in sales in 2024
38:01We're projected to do $4.6 million next year
38:03Charlie, how much have you invested yourself?
38:06Uh, my investment has been small, but we have raised outside capital
38:09How much, Charlie?
38:10Three years ago, um, we set out actually to bring this mission, but a very different product to market
38:15We raised $2.5 million to do that
38:17Oh wow
38:18And ultimately that valuation was $11 million
38:21Whoa!
38:22And what was the last one?
38:24What was the difference?
38:25It was a very different product
38:26It was focused on facilitating in-person oral history conversations
38:30What happened to the $2.5 million?
38:32Uh, so we spent part of that over that first year and a half
38:36And then we came up with this idea for building an AI-powered storytelling platform
38:40So we went back to existing shareholders who put another $1.5 million into the business for a total of
38:46$4 million
38:46Whoa!
38:58All sharks are still in, but they are concerned about the huge amount of money Charlie has raised for his
39:04memory book company, Remento
39:05How many partners do you have and what percentage of the company do you own?
39:10We have three institutional investors and ten angel investors
39:13We've sold over those two rounds 30% of the business
39:17How much money do you still have left from all the raised capital you have?
39:20What's the question?
39:20We had $561,000
39:22And what was the original amount of everything combined?
39:24All in it was $4 million over the last three years
39:27And when you get to $4 million
39:29So you're okay with that loss, right?
39:31I wouldn't call it a loss
39:32I would call it investment in the underlying research and development that led to technology
39:37The first of its kind that allows you to go from memories in your mind to a physical book that
39:41you can share with your family
39:41But let's say the first $2.5 million was lessons, costly lessons
39:45Because you said that platform did not work and then you pivoted
39:48Am I right?
39:49I would
39:50Yeah, costly lessons is a fair way to say it
39:52So Charlie, the next question is, when do you expect to get the profitability?
39:552025, we're gonna do $4.6 million
39:57We're expecting to do $1.5 to $2 million of net profit depending on where we can get our customer
40:02acquisition
40:02So that leads to the, you don't expect to have to raise money again?
40:05Correct
40:05Okay
40:06Charlie, I mean, I gotta tell you, very good on the numbers
40:09I mean, you didn't trip up anywhere
40:11My only problem with this deal is the stack of VCs on top of me
40:15But I'm sorry man, I don't get out of bed for 5%
40:18I mean, to me, I'd be asking 15-20% for this thing
40:22What's your reaction to what he said?
40:24So that's actually kind of where I was
40:26Yeah, it's a totally fair consideration, I can't do 20%
40:29I think Daniel has the same pain
40:31You understand exactly that
40:33I was literally, I can show you my notes
40:34I was asking for 20, settle at 15
40:38Would you split 15 with me on this deal?
40:40I would
40:41No, I just wanna say, I was looking at my notes and it said, offer nothing, save your money
40:46And that's exactly what I'm gonna do, okay? So I'm out
40:50Thank you for the feedback
40:51Charlie, you know when you come, you have to negotiate, right?
40:54Right, so the question is, without playing around, how much negotiating room do you have?
40:58I do have room to negotiate, certainly
41:00North of 10% is very difficult for me
41:02I understand completely
41:03I would do 300k for 10%
41:06Ooh
41:08Deal?
41:09Ooh
41:12Um
41:15Almost
41:17Would you be open to splitting that equity between advisory shares?
41:22Oh yeah, I don't give a about that, okay
41:23Yeah, let's do it
41:24Oh wait, wait, wait, wait, wait
41:26100%
41:28Congrats
41:29Thank you so much
41:30Good job, Charlie
41:31Yeah, I mean, cause obviously you heard what I had to say
41:33I love the whole concept
41:34I just had to figure out whether or not you had a business
41:36Okay, yeah
41:37Awesome
41:38Thank you so much
41:38Congrats, Charlie
41:40Thank you, thank you all by the way
41:41I wanted to say before I walk off, I have watched the show since the very beginning
41:45And I was able to see something in myself by way of watching the show
41:48That I know millions of other people feel the same way
41:50So I'm here because of you
41:51We appreciate you, Charlie
41:52Thank you
41:53Thank you
41:53Good guy
41:56What a guy
41:56You know what?
41:58What a great guy
41:58He made Barb, me, and you all tear up
42:02Money doesn't mean anything, people do
42:05Let's go
42:07That's amazing
42:08My dad's a guy that I've learned so much from
42:10Both for the time that I was able to spend with him
42:12And the time that I've been able to learn through him through his legacy
42:16And, um, yeah, I would say he's probably pretty proud
42:45Um, yeah, let's find this side coming at you
42:53For this, of course, maybe a lot to talk about�
42:54I love you See what's
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