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00:00Tonight on Shark Tank...
00:02Remember me?
00:03Yep.
00:03Pack your bag, Sharks, because we're going camping.
00:05Who stole your body wash?
00:07Kevin!
00:08Whoa!
00:09Shocking.
00:09These little guys just ate their own art.
00:12How many freezing babies are there?
00:13Kids don't understand how truly unique and awesome they are.
00:16What?
00:17Are you saying you're old after 40?
00:19Yes.
00:19How do you run from a bear in that thing?
00:21We've shipped more than 50,000 sleeping bags.
00:24What were your sales last month?
00:25I don't know offhand.
00:26Yeah!
00:34First in the Tank is an AI-powered tool for college-bound students.
00:46Hi, Sharks.
00:47I'm Julia Dixon from New York City, and I'm seeking $250,000 for 5% of my company.
00:52Wow.
00:53Sharks, if you thought college tuition was high, did you know American families are spending an additional
00:59$3 billion a year on independent college advisors just to help you get accepted to college?
01:05This is because college admissions have become so wildly competitive.
01:10And advisors can help, but they also charge an average of $300 an hour and sometimes as much as $750
01:17,000 for a four-year package.
01:19Whoa!
01:20So, what are your options?
01:21Spend thousands of dollars for one of these elite tutors to help you?
01:25Or spend countless hours going through these heavy, outdated, expensive prep books?
01:34Whoa!
01:35Whoa!
01:35Whoa!
01:36God!
01:37Sharks, what if there was a way that every student could get elite-level support for getting into college, regardless
01:44of their family's income?
01:45Well, now there is with SAI, the ethical, gamified AI platform that helps with every piece of the admissions process
01:54from beginning to end.
01:56And all at a fraction of the cost of a human advisor.
01:59SAI's suite of AI tools empower students to discover schools and programs, craft standout college essays, uncover financial options, and
02:08more.
02:08All while celebrating their unique stories, because we know a strong college application is all about good storytelling.
02:15And our Story Strategist tool helps students uncover their personal narrative for their college essays.
02:20By asking them questions like their hobbies, their cultural background, or hardships overcome, we can help students uncover more complex
02:28narratives.
02:28That's a good-looking guy right there!
02:30As you can see, this student, Mark C., talks about overcoming hardships like surviving a pretty bold haircut in high
02:37school.
02:37Hey!
02:38And the more we ask, the more we can uncover what truly makes each student unique.
02:43And finally, SAI specializes in making unlikely connections across a student's story, like how lessons learned in basketball actually could
02:50make you a better investor.
02:51Looks like Mark might just get into Indiana University after all!
02:55Who's your...
02:56Sharks, join me in democratizing college admissions for all with SAI.
03:02Julie, I must ask right out of the gate, why can't I just use any AI app to do this?
03:06What do I need you for?
03:07First of all, we're not another chatbot. My belief is that students don't have a deep enough understanding of this
03:13very complex process, and they're not set up to build a customized strategy for themselves and their personal narrative in
03:19the way that SAI sets them up to do.
03:20But aren't you using the same technology in the background?
03:23It's built on the same fundamental technology, but we train on top of it with our own proprietary coaching method
03:29and a really fun gamified experience that's social first and keeps kids coming back again and again.
03:34And are you saying you wanted to find out about ourselves, like that good-looking guy you had up there
03:37before, right? And then you'll help determine the best school to match them with?
03:40Exactly. So, a lot of what I saw, I used to be a college advisor, so I used to help
03:45kids with this process one-on-one. Kids don't understand how truly unique and awesome they are.
03:50They think that their hobbies or their interests with their friends aren't relevant, but that's not true. We can help
03:55them find the transferable skills, match them to programs that they might be a good fit for, and then figure
04:00out a strategy for how they're going to get in.
04:01So, it's unique that you're taking that information. We're a storytelling platform first.
04:05You must have incredible sales, $250,000 for 5%, 5 million valuation. Yes.
04:12What are your sales? So, we just started monetizing in the last month. Yeah. Thanks. We've raised a million today
04:20at a $5 million valuation from some of the top tech VC firms in the country.
04:24We just turned on our monetization. We're already at $70,000 in ARR, and we are literally just getting started.
04:30So, the potential here is really exciting.
04:33How big is the team? I am the only full-time employee. I've built this basically by myself. I bootstrapped
04:39all the way through last year, tested an MVP. I built myself to over 100,000 students.
04:44Are you a coder? Yes. Tell us about you. What's your background?
04:47So, I used to be that human advisor, never charged $750,000, but I saw a need to make college
04:55admissions more accessible to help every student find that unique story.
04:58And I have a background, in addition to being a college advisor, in Gen Z marketing. I know how to
05:03talk to this audience. I've reached over 15 million kids on TikTok completely organically.
05:08I run my own channel, and I really know how to create an experience that feels Gen Z first and
05:13not like some ed tech platform that your counselor or teacher made to sign up for.
05:17You know, I just went through this whole process with my daughter, who's a senior in high school.
05:20And let me tell you what I found. I found getting someone to help my daughter write an essay was
05:25easy.
05:25I interviewed a few people. Any of them would have done a fine job getting out of her what was
05:29important to convey to the schools.
05:31But where I found it sorely lacking was trying to find the same advisor or a different advisor to tell
05:37me what schools were suitable for her that she would believe in.
05:41That's unique.
05:42But yet I was talking with a human being, so I felt they were limited by the knowledge. Each one
05:47had a specialty of knowledge.
05:49Of course.
05:49But no one had the whole source of knowledge.
05:51So we're a completely automated service. That's why we keep our prices so low, but people get it.
05:56But they go on your recommendations even though they're not talking to a person.
05:59Yeah, 74% of our users reported they learned about a school or program they'd never heard of before SAI.
06:04Let me go the other way with you. Some people pay tens of thousands because there's one school they want
06:09to go to.
06:10They've identified it. Let's say it's Tisch at NYU.
06:13Mm-hmm.
06:13How does this system help that focused individual that says, I've got to go to film school at Tisch?
06:18It's a great question. We're built to be flexible for both the student who has literally no idea what they
06:23want to do or where they want to go,
06:24but also the student who has their heart set on Tisch or set on NYU or any school.
06:29So how do you help there?
06:29So what we can do is you'll use one of our tools like our story strategist tool, and you can
06:34only put in I am applying to Tisch,
06:36and we will go through the specific classes, even the professors at that school.
06:40We use almost real-time data in order to say, Kevin, here's all the things that you have in common
06:45with this program.
06:46We can help you get so specific in your application.
06:50It's all publicly available data. Kids just don't know how to research.
06:53You just scraped it? That's all you did?
06:55Essentially, yes.
06:55So wait a minute. We know nothing about what this costs.
06:59Like this, we have time. You can tell there's interest here.
07:02I am happy to help you with that.
07:03How much does it cost to do this?
07:05So it's a freemium model. There's a part of our platform you can use completely free.
07:08We're trying to keep this accessible and for everyone.
07:10If you want to buy a monthly plan, it's $49.99 a month.
07:13Can you tell us a little bit about your traffic and conversion?
07:16Sure. So in just the last month, we reached about 6 million students on TikTok completely organically.
07:21I do no paid marketing. About 60,000 of those went onto our platform.
07:26And then the conversion rate from there is about 3%.
07:29Let me tell you, I don't know. I think this seems like a good idea.
07:34I like that you're going for Gen Z. I love all of that.
07:38There's one thing I don't like. I don't like the 1 million raise.
07:42Oh, yeah.
07:56All sharks are still in, but Lori is concerned about the large amount of money raised for Julia's AI-enabled
08:03college admissions tool, SAI.
08:06There's one thing I don't like. I don't like the 1 million raise.
08:10Okay.
08:11It bothers me. I understand it, and it seems to be something that certain people come in with.
08:17They've done a lot of raises. They have a tech idea.
08:19Only 20% of the company is given away.
08:21But they don't have proof.
08:22But they don't have proof.
08:22I still own 80%.
08:23No, I appreciate that. It's just that we don't know yet how this is going to go.
08:28So I wish you good luck, but I'm out.
08:31Thank you, Lori. I appreciate it.
08:32You know what's not proven here, and that's making me very uncomfortable?
08:36How long will people stay on your platform? I don't think that's been proven at all.
08:40It's just too early without that proven. I don't really feel comfortable with the model, so I'm out.
08:45Thank you so much for your time. Wait, wait, wait, wait. Where do you see this going longer term?
08:49So long term, I really want to be the Gen Z storytelling platform.
08:53We are helping you build a personal brand. It's going to get you into college,
08:56but we're going to live with you throughout your education.
08:58So you want to be a real social media that's still social?
09:01Yeah, I want to be more of a social company than an ad tech company.
09:04I'll make you an offer.
09:06Okay.
09:07I'll give you your $250K.
09:08Okay.
09:09But I'll ask for 10%.
09:11Okay. Thank you for your offer.
09:13I think it would be very hard for my investors to hear a valuation cut in half.
09:18Okay, so you know all the game of this place.
09:18And I would protect you in the same way I'm protecting them.
09:20No, I understand. Good answer.
09:22So, Julian, let me...
09:23Here's my counter offer.
09:24Let me... I think you've done a great job.
09:26I'm skeptical.
09:28I think the conversion rate, 170,000 people are going to decide 3% conversion.
09:33You haven't proven the monthly model.
09:35It's not for me. I'm out.
09:37Thank you very much.
09:38Okay, so back to me.
09:38Okay.
09:39Wait a second. I'm still in here.
09:40I'm just listening to this.
09:41You own 80% of the company.
09:44I'll do the 250 for 10.
09:46And you don't have to really have a hard time with your investors.
09:50You just give me your stock to make the extra 5%.
09:53No, but it still affects the overall valuation.
09:55No, it doesn't. No, it doesn't.
09:57Come on, that's...
09:58Okay, look.
09:59You got to decide.
10:01I have to keep the valuation because we're raising above that now.
10:04But would you do 5% with two advisory shares?
10:09Make it 3 and have a deal.
10:112.5.
10:16Okay.
10:17Ah!
10:17Good job!
10:19Softy!
10:20Thank you, thank you, thank you, thank you.
10:21I appreciate it.
10:22It's really exciting.
10:23You're my dream shark.
10:24Well, I appreciate that.
10:25There's so much we can do with it.
10:26Yeah.
10:26This is a great gateway to social media.
10:28It's awesome, Julia.
10:29Thank you so much.
10:30My pleasure.
10:30Nice to meet you all.
10:31Good job.
10:32I really appreciate it.
10:33Thank you.
10:34Okay.
10:36The 2.5 in additional advisory shares I actually think is perfect because he is the right advisor
10:41for us.
10:41This is crazy.
10:43Helping students uncover their dreams and achieve that goal, that's my dream and Mark just really
10:49helped that dream come true, so I am so happy to have him involved.
10:56In Season 9, we watched Julia Cheek make a deal with Lori Grenier for her at-home health test
11:01kits, Everlywell.
11:02This gives people an empowered way at least to check on some things to know whether or
11:07not they have to go find a doctor.
11:08Let's see what she's up to now.
11:11Shark Tank truly put us on the map to help people know that there's more options available
11:16to take care of their health.
11:17I like this one.
11:18I did the deal with Everlywell because I thought that in-home testing was the wave of the future,
11:22and she's going to take this far, and I want to help her.
11:25She was taking on the $10 trillion healthcare industry, but hey, it just takes one great
11:29idea to be disruptive and to take over, and she did exactly that.
11:33Everlywell is one of the most successful companies in Shark Tank history.
11:37Before Shark Tank, Everlywell had 20 employees.
11:40Today, we have over 200 employees.
11:42The year before I went on Shark Tank, Everlywell did $2.5 million in total sales.
11:47Seven years later, we have over $1.4 billion in sales.
11:54We're thrilled to welcome you to Everlywell's 10th anniversary party.
11:58We're so excited to showcase our products, have some health and wellness experiences,
12:03and also hear from several of our amazing customers.
12:06We have changed the lives of so many people.
12:09And in some cases, customers tell us that our tests allowed them to get an early diagnosis that saved their
12:15life.
12:16Getting those answers for what's been going on is as simple as a hormone test.
12:20Knowledge is power. That's how you can help yourself.
12:23My advice to entrepreneurs is to try to solve a really big problem.
12:28I know that can seem really risky, but it's really what matters at the end of the day.
12:32You're able to help people, so don't shy away from it.
12:35Everlywell and Julia are probably one of my proudest outcomes of Shark Tank.
12:40I couldn't love her more, and I couldn't be prouder of what the company does for people across our country.
12:47Starting and building a company is challenging, but what keeps me going every day is because I started this company
12:53to help people,
12:54and that's what we're doing, and I'm really proud of that.
13:10Next up is a soap created for a certain demographic.
13:24Hi, Sharks. Remember me?
13:27Yep, we do.
13:28This is Kako from Face Yoga.
13:32Face Yoga.
13:33I pitched my innovative facial exercise business five years ago.
13:39My business is Face Yoga.
13:42Face Yoga is a really great natural solution to regain your youth's health.
13:47For appearance, we wake up sleeping muscle in the face to lift up your face for wrinkle reduction.
13:55Stick all your tongue up!
14:01Wow.
14:02We totally remember you.
14:03Thank you.
14:04How did you get back in here?
14:05Well, sadly, at that time, you turned me down.
14:12Shocking.
14:13Just shocking.
14:14But I'm back!
14:15With a new business that you cannot pass up!
14:21Okay.
14:21I am seeking $500,000 for 5% equity.
14:29Wow.
14:30Wow.
14:31Do you know what old man's smell is?
14:35Yes.
14:36Yes!
14:36We think.
14:37It's actual name is called Noninao Pariodor.
14:42So many people in Japan already know the secret ingredients for solving the smelly issue.
14:52God.
14:53And I'm here to bring it to the States.
14:56Oh, my lord.
15:00Persimmon!
15:01Ah!
15:02Persimmon is a delicious fruit, but also particularly effective in eliminating Noninao Pariodor.
15:10So I turned the persimmon into...
15:15Soap!
15:17Meet Mirai Clinical, a line of Japanese persimmon-based products.
15:23Who wants to help millions of Americans regain their confidence by smelling younger?
15:32Are you...
15:34In front of you is a line of products.
15:38I have brought all the way from Japan, a synthetic fragrance of Noninao sample.
15:47So...
15:47Please go ahead...
15:49Smell what old men smell like.
15:53Oh.
15:53Wait, I'll just go over here.
15:55Right over there, right?
15:57I dilute it for you.
15:59When this gets in the body and mixed with the regular body odor, it gets worse.
16:04It's really terrible.
16:06Yes.
16:06Ew.
16:07It's like a...
16:08Oh, my...
16:09It's like...
16:09It's like musty.
16:12After 40 years or older, everyone has it.
16:14Are you saying you're old after 40?
16:16Well...
16:17Yes, yes.
16:17According to the science.
16:19Look, everybody knows grandpa smells.
16:21My grandpa actually...
16:22He smelled like aftershave.
16:24My grandpa smelled.
16:25How are you curing the problem with smelling old men?
16:28We have soap, body wash, body wipes, deodorant sticks.
16:34So this particular product that's based on persimmons solves for men and women over 40 to eliminate the odor of
16:41Noninao.
16:42Correct.
16:43Persimmon has so many tannins, chemical structure.
16:47So the more tannin you have, more absorption of the body odor.
16:52So what are your cells, Coco?
16:54Yes.
16:54But before I go to the cells...
16:56No, no, no.
16:56I'm going to go to the cells, Coco.
16:58Coco, it's never good to pause when somebody asks you for sales.
17:03$8.7 million.
17:07Eight more cells.
17:09Okay, what about this year?
17:10What are you going to sell this year?
17:11This year could have been $4 million.
17:15Could have been.
17:16Could have been.
17:16If we didn't have body wash heist.
17:21What?
17:21Someone heisted your body wash.
17:23Yes.
17:23Our body wash got stolen.
17:26Who stole your body wash?
17:28Kevin!
17:30Okay.
17:31We don't know.
17:32It's under FBI now.
17:34Serious.
17:35Really?
17:35Seriously?
17:36Yes, yes.
17:37How much body wash?
17:38Starting from the factory on the way to our fulfillment center in Reno, Nevada.
17:43And then truck, pssh, vanished.
17:46No way.
17:47What?
17:47What did you actually sell last year?
17:50Last year we did $2.2 million.
17:53and $250,000 for the net profit.
17:56Okay, so you're actually selling this stuff.
17:59How are you selling it, Coco?
18:01100% online, our website, and Amazon.
18:05How much did you spend on social media to get the $2.2 million?
18:10It was 30% of the income was to Facebook us.
18:15Could a person just use soap?
18:17Couldn't they just use any deodorant soap or any other soap?
18:21American deodorizing soaps or deodorant stick or those, they do target, eliminate body odor in general, but not Nonino.
18:32Why would it not work on Nonino?
18:34Because there are various kinds of body odors, but Americans, they test only those generic body odors, not Nonino.
18:43Would you have any type of testing that proves that this works on Nonino only?
18:48partnership with a persimmon lab in Japan, and they do all kinds of the tests.
18:53What's it cost to make this product?
18:56The Hero soap bar, which is 53% of the entire sales, is cost $1.85, including shipping from Japan.
19:06And retail price, $17.97.
19:12Wow.
19:12It's fun, you're fun, right?
19:14I mean, OPS, old people smell.
19:17Okay, it could be a fun marketing thing, but it's just not a business for me, so for those reasons,
19:22I'm out.
19:23But wait!
19:23There's more?
19:24There's more?
19:24I thought, there's more!
19:26How could there be more?
19:27What is more?
19:28Well, I thought you love disrupting traditional industry.
19:32I do?
19:33American deodorizing market, all about generic body odor.
19:37Oh.
19:38Not Nonino.
19:39No one is doing Nonino except us.
19:41This is such an underserved market.
19:44Do you have the metrics to show me TikTok, Instagram, LinkedIn, X, whatever it is.
19:50You put in $1,000 and you make $3,000 in sales.
19:53That kind of information.
19:55Yes, we have our ROAS 2.5 blended, Amazon.
19:59Your ROAS is 2.5?
20:002.5.
20:01You know what's interesting about you?
20:01You come across like a nut bar, except you actually know what you're talking about.
20:05That's pretty low.
20:07Well, it's enough to make money.
20:09I'm really trying to listen and give you all the respect.
20:12Mm-hmm.
20:13But you haven't told me anything that justifies a $10 million valuation.
20:19I'm out.
20:21Thank you.
20:22Well, if you think about our market, baby boomers just keeps booming.
20:29Oh!
20:29Oh!
20:31I don't really think that everybody who's over the age of 40, men and women, smell weird.
20:37Okay.
20:37And so, unfortunately, this is not something that I would want to invest in.
20:41I'm sorry.
20:42Thank you.
20:42I wish you good luck, but I'm out.
20:44Well, Japan is, as you know, super-aged country.
20:48And America is going to follow the trend.
20:50Coco, I'm not really sure this is even a problem that exists.
20:53American old guy, he smells good.
20:55I think you have an insurmountable job selling the use of this product and the need of the product.
21:01So, for that reason, I'm out.
21:04Okay.
21:04Thank you.
21:05You know, Coco, for $500,000, I think which is really the barrier that I'm suffering with, is such a
21:12huge amount of money.
21:13I'm intrigued because you had the $2 million in sales, but half a million bucks, it's so not worth $10
21:19million.
21:20And sometimes that's the problem.
21:22Everything has to work.
21:23If you get a deal on Shark Tank, everything has to be there.
21:26You're missing the marketing and the numbers are too crazy.
21:29I'm out.
21:31Sorry, Coco.
21:32Thank you, Coco.
21:33Good luck, Coco.
21:34All the best.
21:34Thank you so much for the opportunity.
21:36Good luck.
21:40I did my best.
21:41I did the pitch.
21:42I explained the numbers.
21:43I'm so shocked that they didn't really see the value from $8.7 million lifetime.
21:51What's wrong with them?
22:06Next up is a delicious way to keep kids entertained.
22:21Hi, I'm Cricket Azima.
22:22I'm here today asking for an investment of $275,000 in exchange for 10% equity in my company.
22:32Sharks.
22:33Artistic expression is so important for kids.
22:36Sharks, meet our little artists.
22:38But there's something very different about these painters.
22:41They not only have a big appetite for creativity, they also have a huge appetite for...
22:47Candies!
22:48That's right, Sharks.
22:50These little guys just made and ate their own art.
22:54Paper, paint, and all.
22:56Wow.
22:57Wow.
22:58I'm the founder and candypreneur of Cricket's Candy Creations, the number one and original candy crafting experiential brand in the
23:06world.
23:07Our New York City studio is an immersive event space where imagination and creativity run wild.
23:13A wonderland where creators come and make candy crafts like edible slime, chocolate tacos, and more.
23:21We have candy crafting kits.
23:23We have four unique kits.
23:25Edible slime, candy sushi, candy jewelry, and lickable finger paint.
23:30So come on, Sharks.
23:31Who wants to sweeten the pot and join me on this candy crafting adventure?
23:35I'm gonna ask my little candy crafters.
23:38You guys can be excused right now.
23:40We can see you later, Josh.
23:42See you later, Morgan.
23:43Thanks, Pepper.
23:45So Cricket, what's proprietary about this other than your enthusiasm?
23:49So basically, in the last two years, I've created a candy crafting brand, but it's content as well as location
23:56-based entertainment.
23:57All right, walk us through how you're selling this brand.
24:00We're online selling these kits right now on Amazon and in our store.
24:03How much is in the physical location and how much is in kits?
24:07Right.
24:07So right now, our physical location has the most revenue-generating.
24:11What percentage?
24:12I would say 90 or 80% right now.
24:15And how much is that?
24:16So to date, we've sold 100,000 in the kits.
24:20And this is one of the reasons why I'm here today.
24:23100,000 in the kits and how much in the stores?
24:25In what period of time?
24:25In about a year and a half.
24:27Oof.
24:27And how much in the store?
24:28In the store, we've made...
24:30Well, so our total sales to date is 1.7 million.
24:34Good.
24:34Our parties at the store, they bring in about 500,000 per year.
24:39In the store.
24:40In the store.
24:40So that's where you get most of your revenue, though.
24:42Yeah.
24:42We're getting parties and such.
24:44Our party gangbusters.
24:45Right, right, right.
24:45We have three parties every Saturday, every Sunday.
24:48My background is in events.
24:50You're really in events space.
24:51That's where we're making the majority of our income right now.
24:55Which is why we're actually taking this to franchise right now.
24:58We're currently working with a franchise agency.
25:01We will be launching sales opportunities for the franchises in January.
25:06I loved the idea when you came out.
25:08The more you tell me about it, the less I love it.
25:10Because I'm not clear what business you're pitching us.
25:14Are you pitching us a kit business?
25:17Are you pitching us a franchise business?
25:19What are you pitching?
25:20So it's a brand overall.
25:22One of the reasons I'm here is because I am...
25:25My bandwidth is tapped.
25:26I have taken this brand as far as I can.
25:29So it's just you by yourself?
25:30That's it?
25:30Yeah, pretty much.
25:31What were your sales last month all in?
25:36I don't know offhand.
25:39Cricket, you're setting yourself up for real, real problems.
25:44You have one location, right?
25:46Yes.
25:47How can you franchise when you've only learned how to run one location
25:50and you're not even sure what your revenues are going to be in the current month?
25:55When you're selling a franchise to somebody who has an expectation that you already got this lockdown solid.
26:01Numbers are not my strong suit.
26:03Give me words, give me images.
26:04Okay, that's not what I asked.
26:05I know, but I'm saying that's why I don't go offhand.
26:06I'm a franchisee, right?
26:08Make me money.
26:09How are you going to do that?
26:10So the franchise opportunities will bring in about $350,000 per year.
26:14How do you know that?
26:15Cricket, you're getting...
26:16I'm working with a professional franchise agency.
26:18They did our projections and I actually pared it down
26:21because I'm the riskiest conservative you'll ever meet.
26:24You've already paid somebody money to start to discuss franchising with you.
26:28Which is also expensive.
26:29Which is also expensive.
26:30And you're not sure what your franchisees could make.
26:33You should do one, get that to work, then do another one in New York,
26:37and then when you get to five or six and you have the formula down,
26:40you can talk about the rest, but I don't think you're organized.
26:42So for those reasons, I'm out.
26:45Cricket, what did you do last year, roughly?
26:47So last year we made...
26:50Can I cheat sheet it?
26:52Yeah, go ahead.
26:53Thank you.
26:53Just roughly.
26:56Um, so in 22, 300,000.
26:5923, 730,000.
27:02Okay, I got it.
27:03So look, Cricket, there's a lot of stuff going on here.
27:06This has a bunch of verticals in it.
27:08Franchising, forget about it.
27:09You're too small.
27:10You don't make enough money to get anybody interested in franchising.
27:13Um, this is not for me.
27:15I'm out.
27:16Yeah.
27:17In my mind, there are three...
27:19Cricket, we didn't hear the numbers.
27:21I just want to go back to that.
27:22Yeah, what does this cost?
27:23You did.
27:24Yeah.
27:24So it costs $39.99.
27:27To sell?
27:28They sold like crazy.
27:30We've been on the Today Show twice.
27:31Every time I've been on.
27:33What does it cost you?
27:33They just...
27:34What does it cost you to make it?
27:35Um, our first run was $17.
27:37Our run right now is $13.
27:39What I would like to focus on, just for a minute, because I might have an interest.
27:43How confident are you that you could sell franchises?
27:46Very confident.
27:47Why?
27:48Literally every single person that walks into the store goes wild for it.
27:51It's so fun.
27:52Kids come in.
27:53Parents come in.
27:54I mean, eyes just light up.
27:56Adult and kid alike.
27:57And again, tell me how much money you made last year just from the store sales.
28:01I got a little confused on your numbers.
28:03So we make about $500,000 a year in the parties.
28:07And what's your overhead for that store and everything else?
28:09So we have a margin of about $3,500 per party.
28:12Really?
28:13But in the end of the year, how much money did you put in your pocket?
28:17Did you put in your pocket?
28:19Personally, I take a very modest salary.
28:21What money did you make?
28:22But what was the profit?
28:23What was your profit at the end of the day?
28:25Take out the expenses, the cost of the party, the cost of the goods and candies, sir.
28:29The personnel.
28:30What did you net at the end of the day?
28:32$3,500 per party.
28:34No, no.
28:34What was it per year?
28:35Out of the $500,000 for the year, what did you net at the end of the day?
28:40Look at your cheat sheet.
28:41Thank you.
28:42No.
28:43I'm sorry.
28:44Numbers just aren't my thing.
28:47Um...
28:50So the question again was, how much money did you make on parties?
28:55That's what you brought in.
28:55No one asked you it this way, Cricket.
28:56This is easier.
28:57What was your profit on the half a million in sales you made?
28:59That's what we're asking.
29:00That's what we're asking.
29:01Nobody's asking her that.
29:02I don't know the number offhand.
29:04Do you understand why numbers would matter in the Shark Tank?
29:08100%.
29:08Robert, what are you gonna do?
29:09Look, I'm really disappointed.
29:10I was so excited by this.
29:12I mean, I think you're really onto something.
29:15I know it's hard, but the smaller you are, the narrower the focus.
29:20And you're trying to run three businesses.
29:22They're really not related.
29:24I'm out.
29:27I happen to think you're probably very good at your business.
29:29I love your attitude and enthusiasm.
29:31But I don't see a clear road to making money here.
29:34I don't think you're clear on it.
29:35And I don't like my money going where it will never come back.
29:38I'm out.
29:39I wish you luck though.
29:43Cricket, listen, it's not easy to come in here and face us and pitch your idea or your product.
29:51But you didn't know your numbers.
29:53You had your cheat sheet, but you really should study and know and know and know.
29:59Because everybody that comes in here, you can tell they've practiced this a hundred times, right?
30:03You need to find a good partner who has a very strong background in all the things that you're weak
30:09in.
30:09And you can hire someone.
30:11Cute idea, but I'm sorry.
30:13I'm out.
30:16I'm sad to hear that.
30:17Good luck, Cricket.
30:18Good luck, Cricket.
30:19Sorry.
30:20Thank you for the opportunity.
30:21Good luck.
30:24As an entrepreneur, you learn to just be resilient.
30:28Advice I'd have for other entrepreneurs, just because a handful of people don't believe in your ideas,
30:33or maybe you weren't eloquent enough, or maybe you're just not strong at numbers, especially under the pressure,
30:39it doesn't mean you have a bad business.
30:41It doesn't mean you have a bad future.
30:42It just means in that moment, those people didn't get it.
30:59Next up is a product for family adventures in the great outdoors.
31:12Hi, Sharks.
31:13My name's Tavis Malcolm.
31:15I'm from Albuquerque, New Mexico, and I'm here asking for $300,000 in exchange for 10% equity in my
31:21business.
31:22Sharks, I love to go camping and hiking.
31:24So when my first baby, Morrison, was born, of course we wanted to take him with us on all our
31:28adventures.
31:29Yeah.
31:29But when it came time to camp, I could not find a sleeping bag that was warm enough for nights
31:34in the frigid cold
31:35and designed to be safe for a baby to wear.
31:38So on that first camping trip, we put him in some pajamas, then we put him inside of a snowsuit,
31:43then we wrapped him up in a swaddle blanket, and he went to bed looking like a little baby burrito
31:48that was wrapped up way too tight.
31:51Well, that gave me an idea.
31:53Sharks, allow me to introduce to you Morrison Outdoors, award-winning sleeping bags for babies, toddlers, and young children.
32:00We use premium insulations and buttery soft fabrics.
32:04We designed our sleeping bags with babies in mind first.
32:07We use the same sleeved sleep sack design that they're used to so that they can use their hands before
32:12they fall asleep.
32:12Once they are asleep, you simply flip over the cuff and we keep those tiny fingers nice and warm.
32:18Sharks, we are on a mission to bring comfort to the great outdoors from your backyard all the way to
32:23the backcountry.
32:24There is no limit to where you can go.
32:26So pack your bag, Sharks, because we're going camping.
32:30Each of you has a different sleeping bag in front of you and a different size and a different insulation
32:34level
32:34so that you can see all our options.
32:35These are comfy. These feel really nice.
32:38It's very nice. It's very soft.
32:39I would sleep in these. Why the arms?
32:42So kids just want to be able to use their arms.
32:44You know, they don't like to be bundled up in a traditional, like, mummy bag style.
32:48They also just make it really fun to wear.
32:50Is this a storage bag? You roll it up into this thing?
32:53Exactly. They pack down really small.
32:55The Little Mo 20, which I believe Barbara has, weighs only eight ounces.
32:59It's half a pound.
33:00Wow.
33:00And it packs down really tiny for your backpack.
33:02Dances it down?
33:03So we have two insulation levels.
33:05Anything that's marked 20 is good down to 20 degrees.
33:07That uses a down insulation.
33:09It's 650 fill power, white duck down.
33:12For our 40 degree bags, that is a synthetic insulation,
33:15which is still very warm all the way down to 40 degrees.
33:17And how much are they?
33:19So they retail between $85 on the low end all the way up to $200.
33:23And our costs start around $22 up to $52.
33:27So how many years have you been doing this?
33:29And tell us about you.
33:31The first thing you need to know about me is that I'm an Eagle Scout.
33:33I grew up camping and hiking.
33:35So Tavis, you'll know what this means.
33:36I'm a Queen Scout.
33:38Yes, you are, Robert.
33:41It's the Canadian version of an Eagle Scout.
33:43I was like, I have no idea what you mean.
33:48The other thing you need to know is that I grew up in a family of entrepreneurs.
33:52And the last 10 years before starting this business,
33:54I bounced around between digital marketing gigs
33:56and trying to start other businesses.
33:58This is actually my fourth business.
34:00So you're a hustler looking for a product that had product market fit.
34:03You could say that.
34:04So that's my first prototype I sewed.
34:06And I was taking it backpacking when he was about six months old.
34:08Cute.
34:09I was enamored.
34:10It was everything I wanted it to be.
34:12And I told my wife, listen, I think that this could be something serious.
34:16I want to quit my job.
34:17I want to take our savings, which at the time was like $3,000.
34:20And I want to commit myself to launching this product.
34:23So how much did you invest to get started?
34:25Just those $3,000.
34:26$3,000? Good for you.
34:27So where are you at now?
34:28How are you selling?
34:29Where are you selling?
34:30Yep.
34:30And how much have you sold?
34:31So in the five years since I launched this in my garage,
34:34we've generated more than $4.3 million in sales.
34:37Wow.
34:38Good for you.
34:38So we're about 50% our own website, 25% Amazon, 25% wholesale.
34:43Okay, let's talk about this year.
34:44That's great.
34:44Year to date this year, we're at $850,000.
34:46And we're looking at about $1.1 million overall.
34:49And compared to that last year?
34:50Last year, we did just over a million.
34:53But it's important to recognize that while our top line growth might not be that impressive,
34:57we actually finished last year with almost zero in profit.
35:00Why?
35:01Going back to 2022, we had a really healthy season.
35:04We had a good profit margin.
35:05And to be honest with you, I got overconfident.
35:07I said, I'm going to blow out marketing on every channel at once.
35:12I'm going to go to these trade shows.
35:13I'm going to hire these people.
35:14Fires up, finds out.
35:15Yeah, and so we did lift our sales quite a bit.
35:17But at the same time, you know, I spent away our whole margin.
35:20Do you know this year?
35:21Wait, wait, wait. Hold on right there.
35:21That is the best lesson to everybody watching, right?
35:24Yep, yes.
35:25When you chase top line growth, you're going to have to chase your profit margins
35:28because they're leaving too.
35:30Focus on the bottom line and your cash, not on the top line.
35:33I'm glad to see you pivot.
35:35Because when your bottom line goes up, not only can you control your own destiny,
35:39but you can reinvest in your business, and it makes you more attractive to investors like us.
35:43So far, we've spent less than $15,000 on marketing this year to generate that $850,000 in sales.
35:48Good for you, and so you'll make money this year?
35:50Absolutely, yeah.
35:51Good.
35:51After paying myself.
35:52So last year, our net ROAS across all channels was over six times.
35:57Six times?
35:58Yes, we know that we can market effectively, and we plan to do so in a targeted method next year.
36:02Tavis, help me with the size of the market.
36:04I have to be someone who loves the outdoors.
36:06Yep.
36:07I have to have a baby that I'm going to haul with me into the outdoors.
36:11Yeah.
36:11I have to be in a place where it's frigging freezing, right?
36:14I mean, how many freezing babies are there?
36:17You might be surprised.
36:18I mean, look, we've shipped more than 50,000 sleeping bags.
36:2250,000.
36:2250,000.
36:23Good for you.
36:23And a big part of that is our training program, okay?
36:25We have three different sizes.
36:26So when any of our sleeping bags get outgrown, you send it back to us, we give you cash back,
36:31and we give you a discount on a new purchase that covers around 50% of the cost of a
36:35new sleeping bag.
36:35And what do you do with the old ones?
36:36The used sleeping bags are then resold at a discount, and whether you buy a new sleeping bag or a
36:41used one,
36:42we pledge 1% of all sales to charitable causes.
36:45Good for you.
36:45That is an absolutely brilliant marketing plan.
36:49Well, thank you.
36:49What's the oldest age that you...
36:51So right now we go up to five years old, which is about where most kids' sleeping bags typically start.
36:56We're the leader in the under-five space.
36:58Credibility is huge with this product, and you have that in spades, right?
37:04So why would you not make it for other ages going on up when it's really cold?
37:09What are you in?
37:10I'm so glad you asked me that.
37:12I have a surprise for you guys.
37:13Oh!
37:14But wait, there's more!
37:15Whoever invests with me today, you're not just going to get equity in our business,
37:19you're going to get your very own Mega Mo.
37:23Mega Mo!
37:24This is something that customers have been asking us for from the very beginning.
37:28They want to know, when do I get one in my size?
37:30How do you run from a bear in that thing?
37:33Well, it's funny you mention that.
37:34Faster than that.
37:35You can unzip.
37:36A zipper on the bottom.
37:37Whoa!
37:37So you can get out, you can shuffle yourself to the campfire,
37:40you never have to get out of your sleeping bag.
37:42Mega Mo is a bigger market.
37:44Yes, it's great for outdoor movies, it's great for cold weather sporting events.
37:46I mean, it's like upper 30s in this photo, and I'm loving life.
37:49Travis, can I see it?
37:50This would work.
37:50Please do, yeah.
37:51How do you put on?
37:52You just unzip, climb on in.
37:55He's going to jump.
37:55Climb on in.
37:56Climb on in.
37:57Okay, now we bum rush him.
37:59Ta-da!
38:00You've got pockets for all your snacks.
38:02You're in your all.
38:03Oh, you have pockets?
38:04Yeah, right there on the front.
38:06He's jumping like a kangaroo.
38:08Oh, my gosh.
38:08So I'll tell you, these things are really fun.
38:11They're the most fun you've ever seen.
38:11And what does that sell for?
38:13That sells for $1.15.
38:14That's fabulous.
38:16Of course.
38:17That's it, Robert.
38:18Another day at the office.
38:19Okay.
38:20Okay.
38:20Okay.
38:21Tavis, I kind of like you, and I like the story, and the fact you have sales is a big
38:25deal.
38:26But would I ever go outside in a tent where it's cold, where bears could eat me?
38:31That idea is foreign to me.
38:32I always sleep with a mint on my pillow at night in a really good hotel.
38:36Oh, you're missing out, Mr. Wonderful.
38:38No bears.
38:39I'm just telling you the truth.
38:40No bears.
38:40This is definitely not for me, Emma.
38:42I understand that.
38:43Tavis, I would definitely invest in you.
38:45I think it's a fantastic product.
38:47I think your best case is every time you get a customer, lean into them.
38:51And I think you'll continue to grow.
38:53I just don't see the large scale as an investor.
38:56I'm out.
38:57Okay, thank you.
38:57I wish you all the best, though.
38:58Appreciate it.
38:59I love the authenticity of you.
39:01And I feel confident that if I had a baby outside at 20 degrees, I would trust that this
39:08would work for that.
39:09And you did a really nice job of making it.
39:11I mean, if I were going to sit outside at a game, I would want this.
39:15I think that's your biggest market.
39:17I do, too.
39:18I think there's some merit to it.
39:19But I just, I don't know.
39:21I'm kind of on the fence.
39:34Two sharks are out.
39:36And Lori is unsure about investing in Tavis' sleeping bag pajama company, Morrison Outdoors.
39:42I don't know.
39:43I'm kind of on the fence.
39:44I like it for the adult and stadiums.
39:46But I think that there's quite a few things out there kind of like it going into that market.
39:51And so I think this one isn't right for me.
39:54I really wish you good luck, but I'm out.
39:58All right, there's two sharks left.
40:00If I'm looking for something to wear to a football game outside, right, what else am I going to see?
40:06I mean, there's honestly not that much.
40:08I mean, you've been to games.
40:09You see what most people are wearing.
40:10I go in the suites.
40:11I'm not going outside to freeze my ass off.
40:13There's just no way.
40:13I mean, most people are bundled up in jackets, right?
40:15I don't think anything is going to be as comfortable, as cozy, as warm as something like this.
40:19I love how you were doing his business for me.
40:21No, because why would he release these, right?
40:22It's a perfect fit.
40:23It's for camping.
40:25It's not just for camping.
40:26You know what I like about you, Travis?
40:28I love the fact that you paused and thought about your business and tried to figure a way to increase
40:33the bottom line.
40:33Most people skip that step, and it's terrible.
40:36Yeah.
40:36I also love the fact that you're a Boy Scout because my husband's grandfather started the Boy Scouts of America.
40:42Really?
40:43And any time I see a Boy Scout, I know they're going to come through, especially Eagle Scouts.
40:46I do believe in your business.
40:48I think you have a lot of run space on it.
40:50I don't think you've captured even a piece of your market, honestly.
40:53So I'm going to give you the $300,000 for 20%.
40:56Wow.
40:57Thank you.
40:59Mark, what are you doing?
41:03I don't know, Barbara, do you want to do it together or do you want to stick this in?
41:06Yeah, I would like him because he'll help us with the team sports stuff.
41:09Yeah, I'll go on with that.
41:10But it's got to be 20%.
41:11Yeah.
41:11Yeah.
41:13It's got to be 20% or it's not worth it to us.
41:16It has to be 20%.
41:17It has to be.
41:17We can't do 8% each, get to 16.
41:19Tavis, Mark and Barbara, is there anything to think about?
41:24You could have...
41:25You're right.
41:25Welcome to the family, guys.
41:28Congrats.
41:29Thank you.
41:30Thank you, thank you.
41:30Congratulations.
41:31Thank you very much.
41:32I appreciate it.
41:33Yeah, I think it's awesome.
41:34I can't wait to wear one.
41:35Here, Barbara, this one's for you.
41:37I need little ones for my grandchildren.
41:39I have two.
41:40He's a great guy.
41:41I mean, sure.
41:42Take whatever.
41:42Take it all.
41:43Take the tent.
41:44Take it all.
41:45I'll take it.
41:46Take the tent.
41:47Thanks a lot.
41:48I appreciate it.
41:49You're taking the mannequin.
41:52That's hilarious.
41:53Incredible.
41:54Okay.
41:54Nice meeting you.
41:55Great job.
41:56Thank you.
41:56Congratulations.
41:58Bye-bye.
41:58Bye.
42:00We did it.
42:01Woo!
42:02Hi, Mom.
42:03Now that I have Mark and Barbara on my team,
42:06like, I don't think there's any limit to what we can do.
42:08You know what I mean?
42:09Like, we're gonna have all their expertise.
42:10We're gonna have the funding.
42:12We're ready to take this thing worldwide.
42:13Nice meeting you guys.
42:13I knew we didn't have that spring edge wide.
42:20Stay home, allstra...
42:24Subpla� 가까ary всю attend.
42:24That's it.
42:31Go on.
42:32I'm afraid.
42:48Transcrição e Legendas Pedro Negri
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