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00:00.
00:36First in the tank is convenient food that doesn't compromise on health or taste.
00:48Hello, Sharks. My name is Jane Carroll. I was born and raised in the Bronx, New York.
00:53I am here today seeking $300,000 for 15% of my company, Jane Foodie.
01:01Sharks, who doesn't want to eat real food with real ingredients made from scratch?
01:07We all want to, but who has the time to make it?
01:11I found myself wandering in the grocery store, looking at the labels and thinking,
01:17oh my God, what's in our food? Even the freezer section was loaded with preservatives.
01:22So I made it my mission to take food back to the basics, using real ingredients for real flavors
01:30and also nature's preservative, the freezer.
01:34At Jane Foodie, we cook food to perfection and then we flash freeze it.
01:39Flash freezing takes food directly from the oven down to negative 40 in 90 minutes.
01:46This process allows the food to retain all of its flavors, textures, and nutrients.
01:53I have dishes like hot honey chicken, our broccoli, sun-dried tomato pesto, roasted purple potatoes.
02:01And this is just the beginning.
02:03So, Sharks, which one of you is going to help me turn my flash-frozen food into cold, hard pets?
02:11Let's pick it up!
02:12Yay, baby! You're great!
02:14Oh, so here we go. I have samples for all of you.
02:17We have beef stew, ginger rice, roasted cauliflower, a little lemon cake.
02:24The cauliflower. Really, really good.
02:26Beef stew, very good.
02:28Thank you.
02:29Unbelievable.
02:29I tried them all. They're very good.
02:31But flash freezing food is 40-year-old technology.
02:34Well, you can say it's 100-year-old technology, right?
02:38I actually think frozen vegetables 100 years ago were flash frozen.
02:42But when you go to the store and you see all the different frozen foods, are those flash frozen?
02:48They're not flash frozen. Not all frozen food is flash frozen.
02:52So what do they do instead and does it not retain as much of the vitamins and minerals?
02:58It does not, because when you take the temperature down so quickly, it doesn't let the ice crystals form.
03:05Flash freezing, actually, I don't know why everybody's not doing it.
03:09Are you a chef?
03:09Nope.
03:10Tell us about yourself.
03:11I'm not a chef.
03:12Yes, tell us about you.
03:13Years ago, I created something called Boxed in Blooms.
03:17It was fresh flowers that can be shipped anywhere in the country, because the internet had just started.
03:22I ended up on Oprah's O-List.
03:24Wow.
03:24Yeah, everything was going great. And in 08, July, I had a heart attack at the age of 41.
03:31Oh, no.
03:31And September, the market crashed. I ended up in the hospital. I had a 99.9% blockage.
03:37Oh, wow.
03:38And, yeah. Anyway, the cardiologist said, listen, you need to start eating better.
03:43So I took up boxing and I opened up a little cafe.
03:47And then I got a phone call from a movie studio, and they said, listen, your food is so healthy.
03:55Would you be willing to come down and feed the cast and crew?
03:58So I start making the food for them, but the pace is so quick.
04:03Right.
04:04I find out about flash freezing. I lease a freezer. The crew never knew the food was frozen.
04:10Well, let's get to where we are today. Let's get to 2024.
04:12Where are your numbers right today? How much have you sold to date?
04:14A little over 1.1 million.
04:17In one year?
04:17Good job.
04:18No. 2023, I did 640. Year to date right now, I did 580,000.
04:24Wow.
04:24Are you in the stores, in the frozen food section?
04:27Yeah, so we're in local stores.
04:28You're not in any major grocers.
04:30No, and I have bought equipment, so why are you doing all this yourself?
04:33You're not using a co-packer, you're doing this yourself?
04:36Doing it all myself.
04:36Why? Why are you doing that?
04:37Why? Have you been able to find a co-packer that can flash freeze for you?
04:41No.
04:41How are you going to scale an order if Costco gave you one, or Walmart gave you one, or...
04:46Well, you're also talking to a girl whose brother gave her a chop saw for her 50th birthday.
04:51So, like, I research, I figure it out.
04:54I get the retail, but are you selling it online?
04:58Yes.
04:58What percentage of your sales? What percentage of them?
05:01My sales on the internet is only about 10% of my sales.
05:06So most of your sales are through the local retail stores?
05:09Local retail stores, and I do catering, and my two cafes that I have.
05:15Okay, let's break down the numbers.
05:16Yes.
05:16What does it cost you to make them, and what do you sell them for at wholesale, and what do
05:20they sell them for at retail?
05:21So, for example, our soups. The soup's average cost is $2.13.
05:28There you go.
05:29Got it.
05:29Okay? MSRP is $6.50. I sell it to the distributor somewhere around $3.
05:36Okay, my side dishes, the roasted parmesan cauliflower, goes for $2.75. The MSRP is $8.50.
05:44The question I have, though, your margins are okay for food, right?
05:47But your total sales are not that big, right?
05:50Your cafes, right? That's a separate business.
05:53No.
05:53No?
05:54All together.
05:54Okay, all part of this.
05:55Yeah.
05:55Sorry, you're asking us to invest in the cafes also.
05:59In everything.
06:00The whole thing.
06:00What I would love to do is get distribution, and I would love to have the food in the stores.
06:06I mean, I'd like to go retail. The cafes are great, but I don't want to be in the cafe
06:11business.
06:11Do you only sell your food in the cafes?
06:14That's it. I sell what?
06:15Oh, you only sell in your own cafes?
06:16My own food.
06:17Is it sit-down?
06:18Sit-down.
06:18How much money are you making in the two cafes?
06:20In 2023, I netted $24,000.
06:24When I come to your cafe, am I getting flash-frozen food, or am I getting freshly-made food?
06:30You're getting flash-frozen food heated.
06:33Do I know that?
06:34Absolutely. I mean, we have merchandised freezers right in the cafe.
06:38I wonder if the fact that you have the cafes is the reason people are pulling through all the sales.
06:45Well, we do 45% there, but we do 45% in the stores.
06:49We're in, like, five local stores.
06:51Jane, how many square feet are your cafes?
06:52My cafes are, like, 450 square feet.
06:55So, wait a second.
06:56I'm fascinated by the 400-square-foot, almost pop-up shops.
07:01I wonder...
07:02That's the business.
07:04Yeah. Why isn't that the business?
07:05Jane, you don't know what business you're in. That's your problem.
07:07In a restaurant, you're always trying to figure out how to make the food, how to deal with quantities, right?
07:11How to deal with waste.
07:13You don't have to deal with waste.
07:14No.
07:14You can manufacture in one central place and just drop off and put them in the freezer. They heat them.
07:18Right.
07:19That's an entirely unique concept.
07:21That is a great business.
07:23Why don't you want to do more of the cafes?
07:25Yes.
07:25Open up as many cafes.
07:26Well, because brick and mortar to me is, like, it's a little scary.
07:28You know, you have to have...
07:30You have to run them.
07:31Right.
07:32Right.
07:32That's a lot of work on your back end.
07:34There's no question. It's hard, yeah.
07:34A manufacturing facility, I'm good at the nuts and bolts, how the line should work, how to package the food.
07:41That's what I'm good at.
07:42You can't possibly scale without a co-packer.
07:45Well, she's becoming a co-packer herself.
07:48Exactly.
07:49Do you want to set up pop-up locations and have the food there and serve it because you don't
07:53have to prepare it?
07:54Right.
07:54Or do you want to pursue the two-tier distribution strategy into retail, into the frozen goods section?
08:00Which is it you want to do?
08:01I really do see this food in the groceries.
08:05What?
08:06I think people need...
08:08Bad answer.
08:09Bad answer.
08:21All sharks are still in, but Mark disagrees with Jane's strategy of going into retail for her flash-frozen food
08:27company, Jane Foodie.
08:29I really do see this food in the grocers.
08:34Bad answer.
08:35People need...
08:35Bad answer.
08:36Bad, bad, bad, bad, bad.
08:37I think people need real convenient...
08:39Bad answer for you.
08:41No, because then she's got to find the place for it in the frozen section.
08:44Then you've got to deal with shipping it and everything.
08:47And then you've got to market it because people aren't just going to understand when they first come in.
08:50That's expensive.
08:52Jane, let me take a stab at it.
08:53You got the product nailed down.
08:54I tried it all.
08:55It's fantastic.
08:56Thank you.
08:56Okay, you do not have distribution nailed down.
08:58You're not worth two million bucks yet.
09:00Okay.
09:00That's not a fight worth having because I'm not going to invest.
09:03I'm out.
09:04Okay.
09:05Jane, look, I think your real business is the cafe business, but I don't think that's where your heart is.
09:09And for that reason, I'm out.
09:12Okay.
09:13Thank you.
09:13How can anyone doubt you?
09:15Somehow you'll always find a way.
09:17You're one of those.
09:18Thank you.
09:19I don't think you're motivated by money, are you?
09:21No.
09:21You're motivated by success.
09:23Yeah.
09:23What kind of a team do you have?
09:25I have a great team.
09:26And they love you to death?
09:28Yeah.
09:29Yeah.
09:29I'll make you an offer of $300,000 for 33%.
09:33Okay.
09:34Barbara, thank you.
09:36Thank you.
09:37Thank you.
09:38Jane, I think it's a better offer than I was going to make you.
09:41Good luck.
09:42I understand.
09:43I'll make you an offer.
09:44I think that you want the exact right things.
09:48I think you just need to go into grocery.
09:50Right.
09:50Because doing the cafes and that, like, you can't do it all.
09:53Right.
09:54So I have many items in the freezer section.
09:56Yes.
09:56Pizza cupcake, Bantam bagel, frozen farmer.
09:59They've done collectively over $150 million in sales.
10:02So I'm going to actually give you an offer for $300,000.
10:06But I'm going to go for 28%.
10:09Oh, my God.
10:1128%.
10:13Undercutting, Barbara.
10:14Because I, no, I like it.
10:15We couldn't have women power here.
10:17No, I don't even like Lori.
10:19Yeah.
10:20Yeah.
10:20And Barb always says that kind of stuff.
10:23Just how you feel about your team is how I feel about my team.
10:26They have camaraderie.
10:28They have fun.
10:29They're collectively a large team, my entrepreneurs.
10:31You won't get that family from Lori.
10:34No offense, Lori.
10:34That's so not true.
10:35You know if you watch my social media that my entrepreneurs are an enormous family.
10:40They all talk.
10:41We get together.
10:42But also the team that I have internally, they are family.
10:46Right.
10:46But I want to take you to the moon.
10:48And I want to do it right away.
10:50Jane, make a decision.
10:51Okay.
10:52Barbara?
10:53Yeah?
10:53Would you accept 25%?
10:58No, but I'll go with 27%.
11:02I'll do 25%.
11:04You got it, Dio.
11:05No!
11:06No!
11:08Oh, yeah!
11:09What?
11:10Why would you do this to me?
11:12Barbara, you had your shot.
11:13I had my shot and I blew it.
11:15You have no idea.
11:17Good, good, good, good.
11:17I love you anyway.
11:19You don't love me now.
11:20Thank you.
11:21Thank you.
11:23Damn you, Lori.
11:25Sorry, Barb.
11:27A long road.
11:28My mother just passed away.
11:31And, you know, I've been that scrappy ball player in the right.
11:35I can do anything.
11:37I can make everything work.
11:39But I'm tired of being in the trenches.
11:42So I am thrilled to have a partner like Lori.
11:46Just absolutely thrilled.
11:47And we are going to blow it up.
11:52In Season 12, we watched Ricky and Oren Franco make a deal with Kevin O'Leary for their sustainable charcoal
11:58company, Prime 6.
11:59Kevin, you have a deal.
12:00Let's see what they're up to now.
12:02Prime 6 manufactures sustainable solid fuel.
12:06We are upcycling hardwood waste from lumber and timber mills and converting them into woodlug.
12:12After the show, we were at it every day, cold calling, meeting with chefs, getting people to learn about how
12:21Prime 6 can change their backyards, their kitchens.
12:24We continue to plant the tree with every purchase.
12:27And so far, we've planted 120,000 trees.
12:30The year before Shark Tank, we've made $300,000 in sales.
12:35It's been four years, and we've made $6.5 million in sales.
12:40What a great day for West Virginia.
12:42We always wanted to bring manufacturing to the U.S.
12:45It was through Kevin's introduction that we received an offer to bring our facility to the town of Fairmont, West
12:50Virginia.
12:51To the Francos, what a great investment in our community.
12:54The vision of a cleaner, greener sort of approach to manufacturing.
12:58Sustainable technology is so important to governments all across the country.
13:03Think about the challenge of West Virginia.
13:04Their economy was stuck in coal manufacturing and mining.
13:08And a lot of people are moving away from that because it's not sustainable.
13:11The governor there said, we want this in our state.
13:15You're going to find these people are hardworking and are craftsmen and appreciate you.
13:20He made a deal so attractive to us that we're building a brand new manufacturing distribution facility,
13:25creating 150 new jobs in West Virginia to blow up Prime 6 all across the country.
13:31Thank you.
13:31Over the next three years, we will be investing $35 million into the facility.
13:36We will operate with 100% net zero emissions and we'll set a new standard for sustainable manufacturing.
13:44I want to introduce Mr. Wonderful, Kevin O'Leary.
13:48Today we're hosting a town hall in the city of Fairmont.
13:51We have invited the community to come learn about Prime 6.
13:54We really want to get to know the people of this community and hopefully maybe find a few first hires.
13:59You know, I've been around this area all my life and there's been a lot of factories move out of
14:03West Virginia.
14:04We all should thank God that you're going to bring jobs here.
14:07There's going to be a spinoff from those jobs they bring here.
14:10We're going to stimulate the local economy between the trucking and construction and R&D.
14:16Come and apply for a job.
14:17You'll be part of the family and we'll grow this thing together.
14:19We feel proud to be contributing our small part to the world we live in.
14:25It's really about this sheer conviction that you have and that vision in your mind that you just need to
14:31get it done.
14:32If we had done it, anybody can do it.
14:34Get out there, get it done.
14:50Next up is an innovation to deliver cleaner air in a place you spend a lot of time.
15:03Hi, sharks.
15:04My name is Dr. Arjen de Jong.
15:07I'm a Dutch aerospace engineer and I live in New York City.
15:11I am here seeking $400,000 in exchange for 4% of my company, Air Tulip.
15:20First of all, let's say hi to Jim over there.
15:22Hi, Jim.
15:23What up, Jim?
15:25Let's have a better look at Jim.
15:30Wow.
15:31Where are you going, Jim?
15:32Air pollution.
15:33It's everywhere.
15:35Outside and even inside.
15:38There's no escaping.
15:40Dust, smoke, pet hair, dander, allergens.
15:44They're all around us.
15:45This is what it would look like if you could see that bad air we all breathe.
15:51Now, even with air purifiers and filters, the air in your room is only marginally improved.
15:58And there's not much you can do about that unless you lived in a medical or industrial clean room.
16:06Until now.
16:08Introducing Air Tulip.
16:11Air Tulip is a headboard for a bed that creates a bubble of complete, uncontaminated air right where you sleep.
16:21Wow.
16:21No particles, no allergens, just pure, clean air for a perfect night's sleep.
16:27Think of it as your own personal clean zone.
16:32We have created a controlled, structured flow in layers.
16:37The headboard is whisper quiet and you don't feel any draft, but it has a huge cleaning power.
16:45Over a thousand times cleaner right there.
16:47We have measured and demonstrated an improved sleep quality by removing asthma and allergy triggers.
16:55So, sharks.
16:56Let's clear the air.
16:58Who would like to invest in Air Tulip?
17:02We'll switch this off.
17:04We'll say bye to Jim.
17:05Bye, Jim.
17:06Bye, Jim.
17:07Can I hear that?
17:08I want to hear it.
17:08So, let's come into the bed and, like, experience it.
17:11Okay.
17:12Go jump in bed, Kevin.
17:14Is this thing on now?
17:15It's on right now.
17:16You can feel the air going through here.
17:18We got industrial-grade HEPA filters and active carbon filters and pre-filters.
17:23I don't feel air hitting my dome of desire.
17:26That's good.
17:26I don't hear anything.
17:28It's very, very quiet.
17:29And you're telling me I'm being protected.
17:32Yeah.
17:32How does it go into the headboard?
17:33It's all in this unit.
17:35Okay, so I need to use your headboard then.
17:38Yes.
17:38So, it begs the question, right?
17:41There are tabletop, floor standing.
17:43There's all sorts of air cleaners with HEPA filters, etc.
17:48You could put it next to your bed.
17:50Why is it better in the headboard?
17:51An air purifier has a clean filter, but it doesn't clean the entire room.
17:57Dust stays in the room, gets picked up, deposited.
17:59The room itself will still have the particles.
18:02It doesn't get fully cleaned.
18:03How much is it, Arne?
18:04$3,000.
18:05Wow, that's a lot.
18:06$3,000.
18:07$3,000.
18:09So, we started with a crowdfunding campaign of all things with a $3,000 product.
18:14We sold 100 of these for over $2,000.
18:17How much did you raise?
18:19We raised $200,000.
18:20What does it cost you to make it?
18:22The bomb currently at 100 units is $1,000 bomb.
18:26$500 to labor.
18:28So, $1,500 cost of goods sold.
18:30So, right now, I'm already net positive at a 50% margin.
18:33Forget the crowdfunding for a second.
18:35What are your sales?
18:37We just finished the product.
18:38We're just setting up a shop right now.
18:40That's why I'm here with you guys.
18:41Oh, so you have no sales, Arne?
18:42No sales beyond the crowdfunding and the previous product.
18:46You're asking $400,000 for 4%, $10 million company, no sales.
18:52Yes.
18:52We haven't pushed any sales because we just finished the board.
18:56I like to validate, to see what the clients are.
19:00How much have you invested into this?
19:02I invested $300,000 of my own money in this.
19:05That's not bad.
19:05I got $100,000 from an angel.
19:08I got $100,000 from a major VC.
19:10Your total raise is $500,000.
19:13That's not bad.
19:13No, that's really, really good, actually, to do all this.
19:15I'm frugal.
19:16I know, but I'm the expert in the field.
19:17We have our own fan technology in there.
19:19Can you do this for cribs, right?
19:23And in hospitals, and why did you not go there first?
19:26Right?
19:27And in a hospital, you're going to want to do anything you can to keep particles and all the other
19:31junk away from them.
19:32So why not start there?
19:33The only thing is, FDA routing and clearance is a much longer trek.
19:37You don't need to sell this as a medical device.
19:39You can just put it there and say, this is what it does, right?
19:41I noticed that it's hard to get into a large hospital because there's a lot of having to check and
19:48measure, and it's a long time skill to get in it.
19:50What are you going to do to sell this to retail?
19:52What have you done?
19:53It seems like you're waiting a lot, getting it right versus getting it going.
19:57So we are going to do a multitude of physical presence and digital.
20:02So we're going to place this in boutique hotels clinics first.
20:05You have to follow the path to least resistance, right?
20:08Because selling this as a consumer product, you're going to have to spend a boatload of money in marketing and
20:13promotion, and then you have to get it in people's hands.
20:17That's why you see, like, all these different mattress stores and everything, because people have to go in and experience
20:22it.
20:22Yes.
20:23Right?
20:23So I think the opportunity there is phenomenal, right?
20:26I think your marketing, you really don't understand what it's going to take, so you're kind of flailing about, hoping
20:31one of us or somebody can figure it out for you.
20:34It's going to cost you so much money to do all that.
20:36I just don't see the return, so for those reasons, I'm out.
20:40Okay.
20:40You've got to go where people have the need.
20:43I think you're really going to struggle from a consumer perspective.
20:46I don't see the path to market.
20:48One thing, though, is...
20:48And your valuation is crazy.
20:52I'm out.
20:54I can't picture a consumer buying it.
20:56It's too expensive.
20:58It's a hard sell, and I don't think you're going to be able to sell it, really, into the general
21:02market.
21:03So I'm out.
21:04All right.
21:05It's too early for me.
21:07I appreciate everything you've done, because it seems smart and brilliant and a really good product.
21:12But you're just so early for me.
21:14I'm sorry.
21:15I'm out.
21:16All right.
21:19You know, doctor, I'm choking on your valuation and the fact you have no marketing plan.
21:25It's not a small amount of money.
21:26$400,000 is a lot of money.
21:28But I love it, and I would buy it.
21:31So you've made a sale here today, and I'm definitely going to use it, because I'm a believer.
21:35This is a huge risk, okay?
21:38I'll make you an offer.
21:39I'll give you the $400,000.
21:41I want 22.5%.
21:43I don't think you're worth more than $2 million.
21:47I really don't.
21:48You need a partner to explain this to somebody that has a lot of people following them that may be
21:54interested in longevity like I am.
21:56Yeah.
21:57$22.5%, $400,000.
22:00That's a really big jump for me.
22:02Can you do 8%?
22:03Yeah.
22:05You're close.
22:07No, no, no.
22:08Look, I'm taking a flyer.
22:09You're getting a partner, basically, and my focus will be on figuring out a distribution strategy.
22:15The presentation was flawless, except for the part, how do I make money?
22:19So when I have that kind of risk, I've got to get more.
22:21So I think, you know, I'll do 20%.
22:28Wow.
22:28It's getting closer.
22:31Would you do 15?
22:32No.
22:34No.
22:35I'm going to stick with it, then.
22:37I'm going to be adamant about it.
22:39I saw what it does for people.
22:41Thank you.
22:41Otherwise, brilliant.
22:43Good luck, Doc.
22:44Thank you all.
22:44Good luck, Doc.
22:45Good luck.
22:50As an engineer and a scientist, I want to make things that make this world a better place.
22:56bring something novel that people don't think is possible, make it possible.
23:15Next up is an entrepreneur who brings her unique style to a common accessory.
23:28Hi, Sharks, I'm Mary Guay, and I'm here seeking $150,000 in exchange for 5% equity of my company.
23:36Sharks, I've made it my life's mission to collect fashion's most exciting pieces.
23:41I have funky tops, vintage dresses, cheerful earrings, and other fabulous treasures.
23:47I always use style from my head to my toes.
23:50Oh, but something's missing.
23:54Socks.
23:56That's right, Sharks.
23:57For someone like me, I see everything I wear, especially my socks, as a canvas for self-expression.
24:07Much better.
24:08Ta-da.
24:09I innovated on a category that has long been forgotten and created Sock Candy, one-of-a-kind
24:16fashion socks featuring whimsical prints, bold colors, and quirky combinations.
24:21Our signature Sheer Socks are funky, yet elegant, with unprecedented detail on Sheer Fabric.
24:29You can transform any outfit, from bland to thrilling, with just one pair of Sock Candy,
24:35which in Girl Map is basically free.
24:38Slip on our socks with chunky sneakers and flats, or dare to be different and wear with
24:42dressy heels and open-toed sandals, because these babies were made to be seen.
24:48Sharks, let's say goodbye to tacky, boring, and wildly disappointing socks, and give some
24:54sweet and stylish treats to our feet.
24:58So tell me, who's ready to sock up and play by their own rules with Sock Candy?
25:03Sharks, in front of each of you is a curated selection of Sock Candy for you to try out.
25:08Barbara, you have some of our colorful and floral styles.
25:12Lori, I chose for you some of our feminine and edgy styles.
25:15And for Mark, Mr. Wonderful, and Robert, you do have two of our styles that come in larger
25:20sizing, if you would like to slip them on for yourselves.
25:23We are known for our maximalist, whimsical prints on Sheer Fabric, and there's really
25:27no brands doing this in the U.S.
25:30I love whimsical socks.
25:31They're made from nylon and cotton, and the great thing about our Sheer Socks is that
25:35they have the reinforced cotton toe and heel, which means that you won't slip and slide in
25:40your heels and sandals.
25:42And they look amazing on you, Lori.
25:44So what it reminds me of, really, is like a nylon, right?
25:47Very sheer, very thin.
25:49And then you have what's woven on here.
25:52Is this embroidered?
25:53Exactly.
25:53Now I'm going to put on a different one.
25:55Yes.
25:55It's really like wearing a pair of pantyhose, but with a design.
25:58Some of our customers say they look like tattoos on the feet.
26:00But they're sheer, so they can be dressed up.
26:03Tell us about your background.
26:04Yes.
26:04So I am a first-generation Chinese-American.
26:07I came to the U.S. at the age of six with my single mom, and my mom taught me
26:11to work
26:12hard and pursue success at all costs.
26:14I remember in middle school, she sat me down very seriously and told me that if I didn't
26:18get into a good college, my life would be over.
26:21Wow.
26:21Very definitively.
26:22Like, that is a lot of pressure.
26:24And for her, success meant getting a high-paying job in a very steady field.
26:28So she pushed me to go to business school.
26:30So I went to undergraduate business school, studied marketing, and all the while, I felt
26:35very unfulfilled because what I truly wanted to do was fashion.
26:38And so during this time, I actually ran a secret fashion blog where I would take photos
26:43of my outfits every day, but I didn't share with anyone.
26:46Your parents didn't know.
26:47No, no one knew.
26:48But one day on the subway home from a horrible day at work, I decided that it was now or
26:53never for me to pursue fashion.
26:55So I decided I was going to quit my job for six months and see if I could do fashion
27:00blogging full-time because this was going to be my way into the fashion industry.
27:04What did your mother say about that?
27:05She freaked out.
27:07Yeah.
27:07The blog was no longer a secret.
27:09I was promoting it.
27:10And I started to build up a following on Instagram to over 40,000 followers.
27:15Great.
27:15And I always style socks with my outfits.
27:18And my followers would always comment about that.
27:20I became known for that.
27:21And that was why I started Sock Candy.
27:23And what do you sell them for?
27:25So the socks retail for $18, wholesale for $9, and the landed cost is $250 to $3.
27:32I have to tell you, Mary, I thought there were going to be more.
27:35A lot more expensive, yeah.
27:36I'm really surprised they're only $18.
27:39Well, to your point, it's because I felt like there was that gap in the marketplace.
27:42What are your sales?
27:44Yes.
27:44So sales year to date is $826,000.
27:47Not bad.
27:48That's not bad.
27:48Not bad.
27:49That's amazing.
27:50Last 12 months is $1.2 million.
27:53Okay.
27:53Wow, good girl.
27:54Yep, and so year to date, $826,000, and we're projecting to end the year at $1.4 million
27:58because Q4 is usually our $4 million.
28:00Wow.
28:00Are you profitable?
28:02Yes.
28:02This year, we should make $300,000.
28:05That's after you paid yourself something?
28:07Yes, yes.
28:08Last year, we made $114,000, and last year's sales was $700,000.
28:12What is mom saying now?
28:14Mom is loving it now.
28:16Mom is telling everyone about it.
28:18Mom has a Mercedes.
28:19Dad is telling everyone about it now.
28:22Like, he just can't stop.
28:23Have you raised any money, Mary?
28:25No, we're 100% bootstrapped.
28:26What's your plan for global sock domination?
28:30So I would love to launch a line with Target.
28:33Mary, let me shortcut things, right?
28:35You know, I truly am a sock guy.
28:37I have hundreds of socks, but I don't think I'm the right fit, so for those reasons, I'm
28:42out.
28:42But congratulations.
28:43Thank you so much, Mark.
28:44Mary, it's an impressive business, but more importantly, you're so impressive in your story.
28:49And, you know, I always think immigrants have a chip on their shoulder, and it forces you
28:54to do better for yourself and for your family.
28:57When I told my mom I was quitting my job to start a business, my mom looked at me and
29:02went,
29:02oh.
29:04She said, don't worry.
29:05One day you'll get a job.
29:07It's just a phase.
29:09I wish you all the best.
29:10It's just not a category for me that I can add value to you.
29:13You're doing great.
29:14And I think there's better sharks for this deal.
29:16I'm out.
29:17Thank you so much, Robert.
29:18Well, look, I like it because you have sales, and I'm very impressed.
29:20Mom was right.
29:21Business school first.
29:22It's an interesting product people seem to buy.
29:24I'll give you the $150,000 for 12.5%.
29:28Wow.
29:29Okay.
29:29That's not a bad offer.
29:30Thank you, Mr. Waterfall.
29:31It's actually from Kevin.
29:33I've invested in a sock company.
29:35Only once.
29:36Grace and Lace.
29:37You know, Grace and Lace didn't go into Target, but they went into Walmart.
29:40And after four years, they were selling $80 million socks.
29:45What concerned me is they wanted to move away from the sock space.
29:49And their sales went down when they got distracted.
29:51They were doing tops, skirts, leggings.
29:54What do you want to do with this company going forward?
29:56So I definitely do not want to move away from the sock space.
29:59First of all, we are tied in with the name Sock Candy, which is a great name.
30:03It means eye candy for your feet.
30:04So my vision is for us to become the category leader in fashion socks.
30:10Basically, I see it as the next happy socks.
30:12But for fashion socks, for women, that's what I see the company as.
30:15I don't want to insult you, but I would give you the $150,000 for 15%.
30:21But I would guarantee I'd get you into Target.
30:23You have to make the sale, not me.
30:25But I'd get you in there to the right person.
30:27Look, I'll get you into Target in Walmart, too.
30:29And you can keep the money if I don't.
30:32And you could take your stock back.
30:35Okay.
30:35That's how sure I am that I'll get you in there.
30:37That's confidence, Barbara.
30:37I'm pretty sure I can get you in, but you're going to need a distributor.
30:40Can I hear if Lori would like to make an offer?
30:43Yeah.
30:44I have this saying.
30:45It's like the dream is free and the hustle is sold separately.
30:49You dreamed a dream.
30:50You went against your parents, even, to live that dream because you were true to yourself.
30:55Now you're hustling and you've made this phenomenal business, which is just proof to everybody in
31:00the world that if you have a dream and you have drive, you can make anything happen.
31:04So great for you.
31:06But I'm not a sock girl.
31:09I barely own any socks.
31:10I just don't like them.
31:12I love you.
31:13But I'm not crazy about socks, so I'm out.
31:16Thank you so much, Lori.
31:17All is not lost.
31:19You have two viable offers.
31:20What do you want to do?
31:23Okay, Barbara, would you be willing to do $150,000 for 10%?
31:30Of course.
31:33We have a deal.
31:35Oh, my God.
31:36Thank you so much.
31:37Thank you.
31:37Oh, my God.
31:39All the way.
31:40You don't need any help, Ashley.
31:41You know that, right?
31:42Congratulations, Mary.
31:43Well done.
31:44Great deal.
31:45I can't wait.
31:46Mary, great job.
31:46Bye.
31:49Oh, my God.
31:50That was better than I ever could have imagined.
31:54I wanted Barbara.
31:55I got a deal with Barbara.
31:57I mean, I just felt like I just had an amazing conversation with all of them.
32:01They loved it all.
32:03Like, it was just amazing.
32:05I can't believe that just happened.
32:20Next up is a way to keep your vehicle neat and tidy, even with a messy best friend.
32:33Hi, Sharks.
32:34I'm Brandon Himmel from La Porte, Texas, and I'm seeking an investment of $200,000 for 5% ownership in
32:39my company, Rough Liners.
32:40Wow.
32:42Like millions of dog owners, I love taking my dog Sadie with me whenever I go to the beach, hiking,
32:47or anything outdoors.
32:48But taking Sadie with me on adventures would leave my truck with muddy seats, scratched door panels, and endless fur.
32:54There was no way to completely protect the backseat area from the mess Sadie caused.
32:57That's why I invented Rough Liners.
33:00Up.
33:05Down.
33:07Rough Liners protects my truck, so I don't need to worry about the mess Sadie causes in the backseat area.
33:12The door-to-door protection makes it convenient to take your pet on more adventures and not stress about the
33:17mess.
33:20The cover of Velcros to plastic window inserts that easily slide into the window seal.
33:27So the door panels are completely protected.
33:30My patent-pending design is engineered for the ultimate protection, and it's made from heavy-duty materials so that it
33:36lasts.
33:36So you don't need to worry about the mess your dog causes in the backseat area.
33:40With Rough Liners, you're covered.
33:41So, Sharks, who's ready to join Rough Liners and help pet owners take their best friend on more adventures?
33:48Brandon, how much do you sell it for?
33:50My prices range from about $99 to $150.
33:53I'm a premium product in this category.
33:55I really try to provide a superior product, not only in the design, but in the materials that we choose.
34:00So, Brandon, you're saying there's competition then for this?
34:02There's nothing like this extra-large.
34:04Once my patent got published, I removed all—there was like 12 competitors, and they all got removed.
34:08Well, there are seat liners, right?
34:11Yeah, there's a good amount of cheap Chinese manufacturers.
34:13So a couple of things that my seat covers have, besides the door panel protection,
34:17is I have extra anchor points at the bottom so that it keeps everything nice and snug,
34:21and when your dog's in the backseat, it doesn't start to move out of place.
34:24I noticed that because I have the—I've bought the liners.
34:28You throw them in the backseat.
34:29And they move.
34:30Yeah, within 20 minutes, they move, and there's hair everywhere.
34:34Absolutely.
34:34Brandon, do you sell online?
34:36Most of my sales are online through Amazon.
34:39That's where I originally started.
34:40What are your sales?
34:41Ta-da!
34:42In 2022 is when I launched the brand of Rough Liners.
34:45That was December of 2022.
34:472023, I did $1.25 million in sales.
34:50Oh, my God!
34:52A million of that was in the last quarter.
34:54And, Brandon, this year, what are you—year-to-date?
34:57This year, I've done $3.1 million in sales.
35:00Great.
35:00Good for you.
35:01Thank you so much.
35:01And what did you make on that?
35:02What—on the $1.25 million, what did you make last year?
35:06About $40,000.
35:08Why so low?
35:08So I've invested a lot into the long-term differentiator of the brand.
35:12Okay, that's fine.
35:13Okay, so I've spent money on patents.
35:14Okay, so $3.1 million this year.
35:16Yes.
35:17Year-to-date.
35:18How much do you think you'll do fourth quarter?
35:19I'm expecting to do over $5 million.
35:22I think $5.5 is realistic.
35:24My goal was $6 million.
35:25What are you going to make on it?
35:25$5.5.
35:26I should make over $500,000.
35:28So far this year, I've made about $300,000.
35:30So what's your margin?
35:31My gross margin is around 73%.
35:33So you're spending a lot of money on advertising?
35:36I've been using some agencies that I have overhead costs.
35:39To do your marketing and stuff, and they typically suck.
35:41My marketing, I spent—last month, I spent a little bit over $100,000.
35:44Wow.
35:45So you know it's probably going to be a lot cheaper to hire your own good SEO people.
35:48Yes.
35:49So that's the long-term goal, is to bring this in-house.
35:51And congratulations, right?
35:53I'm not trying to take anything away from you.
35:54It's amazing.
35:54But we're trying to get a feel for where you're spending all your money, right?
35:58Yes.
35:59And so typically the question what Kevin would ask is, what's your ROAS, right?
36:02What's your return on ad spend?
36:04Let's start with this customer acquisition cost for the new incremental customer.
36:08So my customer acquisition cost is around $20.
36:10My cost of goods is between $25 and $35.
36:14I have a question.
36:16We know nothing about you.
36:17Can you please tell us about you?
36:19I've always kind of just been an entrepreneur.
36:21When I was five years old, I was shining shoes at my grandpa's barbershop because I didn't get allowance.
36:25I had to go out and just make money and find ways to go do things with friends.
36:29As soon as I got out of high school, I was in the Marine Corps, spent five years in the
36:32Marine Corps.
36:33Thank you for your service.
36:33Thank you very much.
36:34I appreciate that.
36:35Then after that, I went to college.
36:36I got my degree in physics.
36:38Nine years, I was an engineer.
36:39And then last year, I quit my job last July.
36:41And now I just do rough liners all the time.
36:44Good for you guys.
36:45What a great story.
36:46All right, I've heard enough.
36:48I'm going to make you an offer.
36:50I have gone on search for liners.
36:52There are thousands of them.
36:54There's nothing that proprietary about what you're doing other than your story is fantastic.
36:58Your customer acquisition cost is too high.
37:00But I'm going to make you an offer anyways.
37:02I'll give you the $200,000 for 20%.
37:05Okay.
37:06Brandon, quick question for you.
37:07How much money did you put into it?
37:09So in 2019, both my parents passed away within an eight-week period.
37:14And it kind of made me just realize that, like, life is short.
37:18And I didn't get a whole lot from them, but I got enough money to put $15,000 into taking
37:24my idea and making a product.
37:26Good for you.
37:27My God.
37:27And so that was where the initial money came from and got me the beta version of the product so
37:31I could start testing it and getting some customer feedback.
37:34And I want to do something with this money that makes me remember my parents.
37:37What you've done is phenomenal.
37:38You're a beast and you know it, right?
37:40You outwork everybody, and that's what great entrepreneurs do.
37:44Amazing.
37:44Now the bad news.
37:46The bad news, from my perspective, is you're spending 27% of your gross dollars at Amazon.
37:53Absolutely.
37:54And to me, as I look at businesses that sell online, that's scary.
37:59Yep.
37:59That's the fear for me because you can't control your own destiny right now.
38:03So for those reasons, I'm out.
38:05You make me think of my DropStop guys.
38:07They've been doing phenomenal.
38:08I think we're like $50 million in sales.
38:11They started to get all these knockoffs.
38:13And recently, it's become really challenging.
38:15When I think about investing in something like this, I'm concerned it's going to be a bit of a rough
38:20road.
38:20And so for those reasons, I'm sorry.
38:23I'm out.
38:26I'll make you an offer.
38:29You're lacking two things from what I'm seeing.
38:32Cash.
38:32You're going to need like at least a million dollar credit line, which I would provide for you.
38:36And the other thing you're desperately lacking is you're not doing anything on social.
38:41But I can help you with the social, and I sure can help you with the cash.
38:44So my offer is $200,000 for 20%, and I'll give you a million dollar credit line.
38:5220% is a little bit higher than I want to go on my baby that I love, and I've
38:57put in so much work.
38:59However, I think my margins could be exponentially better with the help of a shark.
39:03I would like to bring that number down closer to 10%.
39:06I think 10%.
39:07I'm going to do over $5 million this year in revenue.
39:10What is that, 20-something percent?
39:13Brandon, there might be another offer.
39:27Two sharks are out.
39:29Brandon has two offers on the table for his interior vehicle cover business, Rough Liners.
39:34But Robert may also be interested.
39:37Brandon, there might be another offer.
39:39Mark gave you the bad news.
39:41There's going to be a lot of challenges, but here's the good news.
39:43You're in Shark Tank.
39:44You keep going on Amazon like you're doing.
39:47You start building the other socials like Barbara is saying, and we can help you with that.
39:52I mean, I love dogs.
39:53I took a product here, Pup Box, and we sold it within 18 months for $12 million to PetSmart.
40:00I will give you $200,000 for greedy, greedy, greedy, 15%.
40:10I like the number at 10%.
40:12I like the number at 15%.
40:14I'm going to do over $5.5 million.
40:16I do have utility patents.
40:18$200,000 for 14%.
40:22Could we do a royalty deal to get your money back and bring you down to 10%?
40:27How much are a dollar a unit?
40:28I'm going to do 50,000 units in the next 12 months or more.
40:31If I just didn't grow at all, I'm going to do 50,000 units.
40:33$200,000, 10%, $5 royalty per unit.
40:37Ooh, that's hard on the capital side.
40:39Because if I pay you back, I think it would happen in three years.
40:43$200,000, 10%, $3 royalty per unit.
40:47A dollar a unit.
40:48$2.
40:49I'll do that deal at a dollar a unit.
40:51You can come down to 10%?
40:53Yeah, just to squeeze his head.
40:55Would you mind going in together?
40:57Dogs hate him, Brandon.
40:59I'll do the deal for a buck until I get my money back for 10%.
41:02Just to squeeze his head.
41:04I will do the same deal.
41:06Would you mind going in together?
41:07No, I don't get out of bed for 5%.
41:10I don't even bother.
41:11I'll forget who you are for 5%.
41:12Brandon, I will only do this deal because I believe so much in you.
41:16Seriously.
41:17Robert, let's do a deal.
41:18Ah!
41:22Yeah!
41:23Oh my God.
41:24Do I get to keep the dog?
41:25No, you can't keep the dog.
41:27Congratulations, Brandon.
41:28Well done.
41:29Yeah!
41:30Good job.
41:30I can't believe I'm here.
41:31I've watched every episode of this show,
41:33and it's just amazing to be here.
41:35You did a great job.
41:36You did a job, Brandon.
41:37Congratulations.
41:38You're a closer.
41:40Yeah!
41:41Let's go, Lily!
41:42The one thing that my dad gave me is a hard work ethic,
41:45and so he was a good role model to show me
41:47that you really got to put in the grind in life
41:49if you want to get somewhere.
41:51And so, yeah, he's here with me today.
41:54I just got tired of listening to Robert,
41:56so I had to squeeze his head.
41:58Oh, God.
41:58Yeah, wow.
41:59You didn't squeeze it fast enough.
42:00He did a great job, right?
42:02He did a great job.
42:02When an entrepreneur knows his max,
42:04it's okay to say it so we don't have to beat around the bush.
42:06Also, too, these two little marshmallows
42:08kind of went, okay, $5, okay, three, one, I'll do one.
42:12Are you saying they got toasted?
42:14Yeah, they got toasted.
42:15uted?
42:22Yeah.
42:22Yeah.
42:24All right.
42:24No.
42:32Música
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