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00:00Tonight on Shark Tank...
00:03PegasTales!
00:06Tringys are here.
00:07They feel like you're wearing nothing.
00:09That's disgusting.
00:10Enough yolking around.
00:11How much have you raised?
00:12Ten million valuation.
00:13Wow!
00:14Why do you think you're worth ten million bucks?
00:16We're worth a lot more.
00:17You guys are sharky.
00:18Don't think about it too long.
00:19What we really want to know is, is there a business here?
00:22I did not expect to love this.
00:25See, now I'm gonna cry.
00:34First in the tank are entrepreneurs from Texas, who believe bigger is better.
00:48Howdy Sharks, I'm Trent.
00:50And I'm his wife, Chloe.
00:51And I'm her twin sister, Kelsey.
00:53We're from Dallas, Texas, and Mark, you know, everything is bigger in Texas.
00:57Yes, sir.
00:57But we're not just talking about big hats, big hair, and big attitudes.
01:01We're talking about candles.
01:03But not just any candles.
01:05Big-ass candles.
01:10Introducing Big-ass Luxuries.
01:12We don't need a big ass.
01:13To have a big-ass candle.
01:14We handcraft large-format natural candles at an affordable luxury price.
01:20Our hero product is the baby big-ass candle.
01:23It's 150 ounces.
01:25That's almost 10 pounds.
01:27It lasts from 300 to 500 hours.
01:30But if that's not enough candle for you to handle.
01:33You can try our big-ass candle.
01:35It's 300 ounces, a whopping 20 pounds, and burns 750 to 1,000 hours.
01:40Sharks, that's a long-ass time.
01:43That's 30 times the size of this normal little-ass candle.
01:46And hey, we know there's no shortage of little-ass candles out there, but sometimes bigger really is better.
01:53So we're on a mission to make the world burn a little bit brighter and a lot bigger.
01:58That's why we're seeking $500,000 for 5% of our business.
02:03Wow.
02:03That's a big-ass.
02:04So Sharks, who's ready to get it poppin'?
02:10And build a big-ass business together.
02:13My gosh.
02:14Good job.
02:15Sharks, please remove the cloth in front of you and let's get lit.
02:18Let's get lit.
02:20Whoa.
02:20Wow.
02:21That's a big-ass candle.
02:22That is a big candle.
02:24I got bear coming at us.
02:24Sharks, each scent has been hand-selected for you.
02:27Ooh, so what did I just smell?
02:28So right now you're smelling our Woodland Balsam.
02:30It's one of our Christmas scents.
02:32Wow.
02:32Beautiful.
02:32It has notes of eucalyptus, fir, pine.
02:35Ooh, what's this?
02:36I love this.
02:37That one's our sparkling Paloma.
02:39It has notes of grapefruit, lemon, orange.
02:41Ooh.
02:41Is this the same one that I have?
02:42You have the dark Santal and coconut.
02:45This is beautiful.
02:46Thank you.
02:47Thank you, thank you.
02:48$500,000 for 5% imputes a $10 million valuation.
02:52You better have some big-ass sales.
02:56Very big-ass sales.
02:57By the time I'm finished with you, these are all gonna be melted, these candles.
03:00So, give it to us.
03:02So, first four-year business, we did $1.3 million.
03:06Wow, that's a lot.
03:07The next year, we upped that to $2.1 million.
03:11Wow.
03:11Good growth, okay.
03:12And this year, what are you gonna do?
03:13Year-to-date, we are already past $2.4 million in sales and expecting to do over $4 million in
03:20sales.
03:21Okay, what do you think you'll make on that?
03:22Expecting about 20% margins like last year, so hopefully around $800K.
03:27Wow.
03:28There are a lot of big-ass candles out there, as you know.
03:31Many four-wick, some five-wick.
03:33Why is yours different?
03:34Anybody can make a candle, but not anybody can sell it.
03:38As you all know, any successful brand, the brand is their moat, so that is the main thing.
03:43We are the big-ass candle company.
03:45Our goal is to become that household name.
03:48So where and how are you selling them?
03:49So we primarily sell online, direct-to-consumer through our Shopify website.
03:54That's about 95%.
03:55Wow.
03:56Five is coming from a retail.
03:58Good for you.
03:58Good for you.
03:59Smart.
03:59That's unusual, my gosh.
04:00Yes, which is interesting because usually when people buy a candle, they want to smell it before they buy it.
04:05So we do offer these sample trios.
04:07So it just allows you to smell it before you commit to the big-ass candle.
04:10What do you sell them for?
04:11What do they cost?
04:12How do you deal with shipping?
04:12So our Hero product, we sell it for $179 retail.
04:16That's the small one here?
04:17Yes.
04:18$179?
04:18That's not so small.
04:19And that cost us $50 landed.
04:22And then shipping, so it costs on average about $15 to ship one of these.
04:26What about the big-big-ass?
04:28That sells for $284, the big-ass candle.
04:31And that is about $90 to make.
04:34You can't really put a retailer into this unless you raise your prices a little bit here.
04:39Do you want to go into retail?
04:40We do, we do, but D2C just has been so good.
04:43What's your customer acquisition cost per customer?
04:46Our CAC right now is $50, but we are getting a 4.5x return on ad spend.
04:52Wow, wow.
04:52Well, I got to tell you, this business is...
04:55Moneymaker.
04:56It is moneymaker.
04:57It is ready to scale.
04:58You're doing it.
04:59American-made right there in your own hometown.
05:01I unfortunately have a conflict because I'm the face of a hotel collection, my wife and I, which make amazing
05:08candles.
05:09So I wish you all the best, but I'm out.
05:11Thank you, Damon.
05:12Thank you, Damon.
05:12Yeah, guys, I'm just not a home decor guy.
05:15I mean, my home decor is like a milk crate turned upside down, so it's just not a fit for
05:20me.
05:20But congratulations, always proud of Dallas entrepreneurs, but I'm out.
05:24Understood.
05:24Thank you, Mark.
05:25Thank you.
05:26Where is your price point in line with the competition?
05:29If you find another 10 or 20 pound candle, it's probably going to be at least 50% more expensive.
05:35We are the only company focusing on large format candles.
05:39So if a well-established candle brand were to do what we do and try to sell it for the
05:44same price, it would completely upend their business model.
05:47They'd have to decrease the prices of all their other products.
05:51Well, I would be the perfect partner for you.
05:53I think you are the perfect partner.
05:55You know all the room fragrances where you have the little bottles and you put a wick down in it
06:00and there's a beautiful flower and it sucks up the fragrance?
06:02Mm-hmm.
06:03I was the first to bring that and do that in America.
06:06Oh, wow.
06:07I mean, I really know about fragrance and candles.
06:09My problem is the ask.
06:12It's $500,000 for 5%.
06:15Yes.
06:15Now, heaven will always save.
06:16Why do you think you're worth 10 million bucks?
06:19Yes.
06:19That's a good question.
06:20I also think we're worth a lot more.
06:24Yes, you do.
06:25I was going to say that.
06:26We do have some big ass sales.
06:27I, like Lori, felt if you had come in and asked for $250,000, I would have been in in
06:33a second.
06:33Yes.
06:34But $500,000 is also called half a million dollars.
06:38A lot of money.
06:40Yes.
06:40And it's just too big an ask.
06:42And also that Lori's not interested is concerning to me.
06:44I'm out.
06:45No, I am interested.
06:46Oh, you are?
06:47Wait, I'll go back in.
06:49We can negotiate, too.
06:50I am interested, but for me, I'd like to give you an offer as half equity, half as a loan.
06:56Okay.
06:57Um, $250,000 give it to you as a loan, which, whatever's the going rate.
07:03Okay.
07:03And $250,000 for equity, then I would take 15%.
07:08Thank you so much for your offer.
07:09Thank you so much, Lori.
07:11All right, guys.
07:12My offer is a straight of half a million bucks for 20% equity.
07:17Thank you so much for your offer.
07:18Thank you so much for your offer.
07:18You got two offers.
07:19What do you want to do?
07:32Three sharks are out.
07:34Kelsey, Chloe, and Trent have two offers on the table from Lori and Kevin for their large candle company, Big
07:40Ass Luxuries.
07:42I think that it has a lot of potential in my gifting businesses.
07:46Yeah.
07:46But I also think I can help you on that CAC.
07:48I think 50 is too high.
07:50I think I can help you with all of the above and way more.
07:54Yes.
07:54Okay.
07:54Of course I don't agree with that.
07:56I think you need to get into, I think build the online business, but I think the first step is
08:01the high-end retailers because it's so luxurious.
08:03Okay.
08:04So you realize I'm actually paying a lot more than she is.
08:08I'm worth it.
08:09250,000 for 15%.
08:10Can we talk for a second?
08:11Yes.
08:11Can we talk for a second?
08:15Yes.
08:19Okay, Lori, we'd like to counter and see if you'd be willing to come down to 10%.
08:24But the way I structured it.
08:26Same way you structured it.
08:27Yes.
08:27Yes.
08:30I'll go to 14.
08:33Would you go to 12?
08:36I like to be a good partner.
08:38I want everybody to feel like give a little, get a little.
08:41Yeah.
08:42I will go to 13.
08:4513.
08:46Mr. Wonderful, would you come down to 10% for us?
08:50No.
08:58I will take her down.
09:00I like this one.
09:02Oh, this will go with like my great gifting things.
09:06Yes.
09:06Thank you so much, Lori.
09:08Great presentation.
09:09Thank you guys.
09:10Best candle ever that I have ever smelled.
09:13Yes.
09:13That got me in.
09:14It's three times the size of Damon's candles.
09:17Yes.
09:19Congrats, guys.
09:20See you in Dallas.
09:20See you in Dallas.
09:21Thank you guys.
09:22Thank you.
09:24Let's go.
09:26Let's go.
09:28Let's go.
09:29Let's go.
09:30Let's go.
09:31Let's go.
09:31Let's go.
09:32Yeah.
09:33I think it's just, um, it's something that I've worked really hard for.
09:41And I'm just so proud of my husband.
09:45Like, the fact that I get to do it with my husband and my twin sister is just amazing.
09:49And I'm just so grateful.
10:04Next up are entrepreneurs with a new twist on a popular appetizer.
10:18Hi, Sharks.
10:19First century scholars have tried to answer the age-old question, which came first?
10:24The chicken or the egg?
10:26Well, we're here to tell you nobody cares now that our deviled eggs are here.
10:30Hi, Sharks.
10:31My name is Rachel Van Buskirk.
10:32And I'm Alexi Wellman.
10:34And we are Deviled Egg Company!
10:36The first and only company in the world to specialize in gourmet, uniquely flavored deviled eggs tailored to taste like
10:42your favorite foods.
10:43We've taken the most notorious appetizer in history.
10:47And flipped it upside down to create something truly egg-straordinary.
10:50These are definitely not your grandma's deviled eggs.
10:53Each one of our mind-blowing recipes has a different flavored yolk, fresh real toppings, and the perfect combination of
10:58creamy and crunch for a one-of-a-kind egg-sperience.
11:01So from our mouth-watering cheeseburger to our chicken Caesar salad to even chicken and waffles.
11:08What?
11:08We have all the flavors for you to egg-splore.
11:12And our menu offers gluten-free, dairy-free, and vegetarian options all made to order and sure to exceed those
11:18egg-spectations.
11:19So, Sharks, we're here seeking $150,000 and your egg-spertise in exchange for 5% of our company.
11:29Sharks, enough yolking around!
11:31Who's ready to make an exuberant amount of cash with these good eggs?
11:36Sharks, in front of you are some of our top-selling eggs.
11:39You have in front of you the chicken Caesar salad.
11:42In the middle, you should have the crab rangoon.
11:45And on the left, you should have our cheeseburger.
11:47And then we also provided you a half pint of our smoked salmon deviled egg salad.
11:52Oh, this is good.
11:53It's really good.
11:54Thank you.
11:55I love deviled eggs.
11:57Love it.
11:57So do I.
11:58So do we.
11:59This is fantastic.
12:00Yes, it's really good.
12:01How do you make them?
12:02They're incredible.
12:03They don't taste like deviled eggs.
12:04I mean, it's years in the making.
12:06My obsession started back in 2017.
12:08I stumbled upon this niche that nobody had capitalized on.
12:12And now, seven years later, I know why.
12:14It's a lot of work.
12:16Up on the screen, we saw what looked like a menu.
12:19Are you a store?
12:20Are you online?
12:22Where do you sell this?
12:24So we bought our first, actually, food trailer in 2020.
12:29It was worn out of the pandemic.
12:31A lot of people said I was a little bit crazy.
12:33It is deviled eggs.
12:34My mom was like, go back to school.
12:36But yeah, so we got our first little food trailer.
12:38And we used that the spring and summer of 2021 to really test the market, generate a little bit of
12:43revenue.
12:43Where are you based?
12:44Originally out of Omaha, Nebraska, where we still have an actual full-service restaurant.
12:47And then I reside in now north of Dallas, Denison, Texas.
12:51Yeah.
12:51Why did you choose to go from the food truck to a restaurant?
12:54We started with the food truck to really show proof of concept.
12:58So what we've been doing is very intentional with our growth.
13:01We got the reaction exactly like you guys are.
13:04And that was like, OK, so we're on to something.
13:06Let's open a store.
13:07What we figured out is that the full restaurant model has very low margins compared to where we go now,
13:14which is more of the grab-and-go models.
13:16And you order right there, and they're made to order right then.
13:19And they come like these, but you can also buy these?
13:22In egg salad, and we also do shipping.
13:24How many eggs would a typical customer buy?
13:27I think it would always just an appetizer, not a meal.
13:29The average order is going to be our six-pack.
13:31We do a two-pack, six-pack, and a 12-pack.
13:33Our six-pack cost average is about $1.81 cost of goods.
13:38And we sell it for anywhere from $14.99 to $17.99.
13:41So that's a meal.
13:41You eat six half eggs.
13:43That's a lot.
13:43Oh, that's high protein.
13:43So this restaurant only sells deviled eggs and the kitted product in the jar, right?
13:49Our grab-and-go.
13:50So our first two kind of restaurants are more full service.
13:54We believe the grab-and-go is the to-go only.
13:57Which needs how many square feet?
13:58It actually needs about 600 square feet.
14:00We're at a 900 square foot space there.
14:02What are your sales?
14:03We opened this first store in 2021.
14:07Sales were 60,000.
14:08In 22, they were 395,000.
14:12Nice.
14:12In 23, they were 492,000.
14:16Wow.
14:17This year, we already have 705,000 to date.
14:20And we're looking at hitting 1.3 million for this year.
14:24Wow.
14:24So on this 1.3 million, are you going to make any money?
14:27Yes.
14:27We're forecasting about 350,000 to 380,000 in revenue with putting at least 50,000 to the bottom line.
14:35Where that becomes very interesting, it took only 50,000 to build that out, plus inventory.
14:41So that's a return in a year of the capital.
14:43I got to tell you, this is probably the best thing I've ever eaten in 16 years on this stage.
14:49Wow.
14:50Oh my gosh.
14:51That I enjoy.
14:52Yeah.
14:53Thank you.
14:53Oh.
14:54That I enjoy that's not sinful.
14:56I've eaten a lot of stuff.
14:58Not as much as I have.
15:00Yeah.
15:01I'm telling you, this is not my area of expertise.
15:04I think there's other sharks up here who will make sure that you are successful in the event that you
15:08get a deal.
15:09With that being said, I'm out.
15:10Thank you very much for your feedback.
15:12Thank you.
15:12How are you going to expand your business?
15:14So, well actually, we're asking that 150,000.
15:17We do plan to use part of those funds to open up two more grab-and-go models.
15:21Are you interested in franchising it?
15:23We have people that want to franchise it already.
15:26So, in new concepts, which is what you are, very interesting new concept.
15:30To prove it out, you need at least four to five stores.
15:34You've got to hit close to five million in sales, and then you're worth, for funding, 1x sales.
15:41That's what new concepts are getting funded at right now.
15:44So, you're saying 155% imputes three million.
15:48That's not going to happen.
15:49Not that it isn't a great idea.
15:51It's just that's not realistic.
15:52If this concept sticks, and I think it can.
15:55I know it can.
15:56Can I take the floor for just a moment?
15:58I have due respect for him, but he's thinking the wrong way on this, really.
16:01You've already proven your concept and your numbers.
16:04You have figured out the franchise model.
16:06I invested in Crispy Cones, I guess it was two seasons ago.
16:09They had one company-owned store.
16:11They sold 66 franchises in six months because they had one store that was making in Orlando, Florida a million
16:18dollars a year.
16:19Wow.
16:20Which seems incredible.
16:21So, what do you want to do, Barb?
16:23I'll give you 150 for 15%.
16:25That's what I own in Crispy Cones.
16:27That's what I own in Cousin's Mane Lobster.
16:30And Cousin's Mane Lobster adds 900 million in sales.
16:32And I get up in the morning excited at 15%.
16:35Thank you so much for that, Barbara.
16:37Don't think about it too long.
16:39No, we're not.
16:40We do want to be respectful because this is our one and only chance.
16:43I did not expect to love this.
16:47But do I have to invest in everything I love or can I just be a great customer?
16:52I'm going to be a great customer because I adore it and I love you, but I'm sorry I'm out.
16:59Thank you very much for your feedback and your time.
17:01Yes.
17:02I'll make you an offer.
17:03150 for 20%.
17:04I don't think this is a good franchise because it's so low cost to open up.
17:09You know, if you guys think bigger, I wouldn't franchise anything.
17:13Would you be interested in considering the shipping side of this thing on your platform?
17:20You know, let me give you an example.
17:21I'm Chef Wonderful on QVC.
17:22I don't know how we could ship 25,000 orders.
17:26I'm not feeling lovely.
17:28No, no, no.
17:28And I'm looking at you.
17:29We've got your love.
17:30Yes.
17:31What are you doing, Mark?
17:33I definitely love it.
17:34Right?
17:34And you're definitely local.
17:35You better not compete with me, my dear Mark.
17:38Well, you go in with me.
17:39I think you have three shares.
17:40It's, you know.
17:41Give them more money to get bigger percent?
17:43I mean, yeah.
17:43That's a good idea.
17:44I don't...
17:45Really, what percentage are you comfortable giving up?
17:47Yeah, what's the most you're willing...
17:47I mean, I'm willing to put in some more money to get it so, you know, so we can get
17:50up to 20%.
17:52We would love, you know, if we could get like 250,000 because it would really help us to open
17:57a couple more stores.
17:58For 20%?
17:58For 20%.
17:59I would do that for you.
18:00I would do that too.
18:01Done.
18:01Deal.
18:03Oh, good job.
18:05That was great.
18:07Thank you.
18:09We've now got Daddy Warbucks with us.
18:11Right?
18:12Oh, my God.
18:12And we've got somebody who knows franchising, so it's perfect.
18:15You guys are all awesome.
18:16Thank you for your feedback.
18:17Great presentation.
18:18Great presentation.
18:19For everything you did.
18:19Mark will eat everything.
18:21Don't worry.
18:22Thank you, guys.
18:23You got it, guys.
18:24Good luck.
18:25Thank you.
18:25Oh, my gosh.
18:26Oh, my gosh.
18:26Oh, my gosh.
18:27What did I do?
18:27R2.
18:28I can't.
18:29What did I do?
18:30It means everything.
18:32I'm so grateful, and I'm so excited for the future.
18:35And it's just amazing.
18:36It means everything.
18:37I cannot wait to make them so much money.
18:54Next up is a safe way to deal with a nasty little problem.
19:06Hi, Sharks.
19:07I'm Steve Abrams.
19:08And I'm Olivia Abrams.
19:09We're a father-daughter duo from upstate New York.
19:12And we're here today seeking a bite-size investment of $250,000 for 10% of our company,
19:18TickMit.
19:19Where we're not afraid to tick off ticks.
19:21Sharks.
19:22Sharks.
19:23Ticks are small, nasty bugs that can do a lot of harm.
19:26They carry potentially life-threatening diseases, including Lyme disease.
19:30Before TickMit, the only option for prevention was a bottle full of chemicals whose names you
19:35can't pronounce.
19:36That's disgusting.
19:37Or tweezers.
19:38Ow!
19:39They're only good after they embed, and then you're playing Russian roulette with your health.
19:42That's why we created TickMit, the ultimate tick check accessory.
19:47It finds and removes even the tiniest ticks from yourself, your loved ones, and your pets
19:53before they embed and transmit diseases.
19:56Just wipe TickMit over your skin, your clothes, your pet's fur, and TickMit will remove any loose ticks.
20:03Then, place TickMit in the included dryer bag in the dryer on high heat for 10 minutes to kill the
20:10ticks,
20:10and TickMit is ready to be used again.
20:13With our big dogs, it was a challenge keeping ticks out of the house.
20:16But with TickMit, I no longer have to worry about ticks hanging out on the couch with me watching Shark
20:21Tank.
20:21Ew.
20:23TickMit provides a simple solution for families to enjoy the outdoors safely.
20:27So, Sharks, who wants to help us scale TickMit worldwide and make every adventure worry-free?
20:33Those are your samples in front of you.
20:35We have five different colors.
20:36How does such a soft fabric like this remove the ticks?
20:40So, it works on the theory of Velcro.
20:42Ticks are all hooks.
20:43This is a patented microfiber.
20:46Basically, the loop sizes is what the patent is around.
20:49So, if the loops are too big, the ticks don't get stuck in it.
20:52If they're too small, they can't get in at all.
20:54So, it's designed to work on ticks that are, you know, nymphs to adult and all different species.
20:58How'd you even think that that was a possibility?
21:00So, when I was seven years old, I started having really bad arthritis in my knee.
21:05I couldn't walk and eventually I got a really bad rash on my face and no one could figure out
21:10what was wrong with me.
21:11And it wasn't until my dad said to the doctor, hey, we live in an area with ticks.
21:16I ended up testing positive for Lyme disease, went through about six months of physical therapy and have made a
21:21really strong recovery because we caught it pretty early.
21:24And since then, we've always been really concerned about it.
21:27So, we started working with a tick scientist and a product engineer.
21:30And after 13 iterations, we came up with this product.
21:33Isn't there like a pill that's supposed to repel them?
21:36Yes. So, the way that the pill works is actually an oral medication you give to your dog monthly.
21:41So, if a tick does bite your dog, it means that your dog's not going to get sick.
21:45But again, it doesn't stop the ticks from coming into your home or getting into your car.
21:50So, the tick is still there.
21:51But can you do everything, right?
21:53I mean, don't most people just miss things?
21:56I mean, you can capture most of it, but how do you make sure you're comprehensive?
21:59We were working with a tick scientist and that picks up between 90 and 95%.
22:03There's always a chance you're going to miss one.
22:06We're not making that claim that you're getting 100%.
22:08I never really wanted to know this much about ticks.
22:10No, it's terrifying.
22:12But what we really want to know is, is there a business here?
22:14Yes, there is a business.
22:15So, we were recently at the Outdoor Retailer Trade Show.
22:18And on 137 submissions, we won Innovation Product of the Year.
22:22Congrats.
22:23Good for you.
22:24That has led to 70 conversations with big box stores.
22:28Which means you're ready to talk about the business.
22:30Yes.
22:30That's right.
22:31So, we've been in business 18 months.
22:32We've done 432,000 in sales.
22:35Wow.
22:36Good for you.
22:36So, what have you done year to date?
22:38252 this year.
22:39You are the chick whisperer.
22:41Yes.
22:42The chick chick.
22:44What's your background?
22:45I'm the classic entrepreneur.
22:47Dropped out of college.
22:48Started businesses.
22:49My last business was a business called Magnolia Bakery.
22:52Oh, I know it.
22:53In New York City.
22:53One store and took it to 14 countries and then sold it.
22:57Right next to Radio City Music Hall?
22:58Yes.
22:59That's it.
22:59And I'm an only child to a family of entrepreneurs.
23:02And I went to a school for entrepreneurship.
23:05Worked in finance for a couple of years.
23:06So, and then you went tick crazy.
23:08You know, I was already a little bit tick crazy before that because of the lunch.
23:11Well, you know, like a classic entrepreneur in the back of my head is, that's a business
23:15one day.
23:16Well, I wanted to go back to business, Steve, because I'm freaking out about your valuation.
23:19You're not worth two and a half million bucks.
23:21You don't even make any money.
23:22I'll tell you why.
23:22We've already got our patent and our IP filed in Great Britain and EU.
23:27We're about to launch in 15 countries.
23:29Was this the utility patent?
23:31Utility and design.
23:32Yes.
23:33Both.
23:33You know, you have to file in each country.
23:36Yes.
23:36And in each country, it's thousands and thousands of dollars.
23:39Yes.
23:39And then certain countries, it takes 20 years to get the patent.
23:43Yes.
23:43But patent pending gives you protection until you get it.
23:45But patent pending doesn't technically give you any protection.
23:48But what we found going to all of these shows, we've learned how big the problem is worldwide.
23:53And there's also a huge occupational hazard.
23:55So people who are firefighters, policemen, land surveyors, and the Boy Scouts of America.
24:00Steve, how much of your own money do you have invested in this?
24:02Over $600,000.
24:04Wow.
24:04Damn.
24:04So what are you selling for?
24:06What do they cost you to make?
24:07$164 to make, $215 landed, sells for $19.99.
24:11Well, there's some margins there.
24:13Wow.
24:1370% of our sales this year have been between Amazon and our website, half and half.
24:1715% was wholesale and distribution.
24:20And then we also did a flash sale.
24:21If I look you up on it.
24:22You really know your stuff.
24:23But this was the first year we went to shows.
24:25It was eye-opening.
24:26First it showed us it was a worldwide market.
24:28We have 10 shows lined up next year in every market.
24:31You can't just do shows.
24:32This should be all over social media.
24:35We have about 6,500 followers, but we're getting, you know, almost a million impressions a month.
24:40We just had a video go viral.
24:41It has 7 million views.
24:42Hey guys, let me get it started.
24:44Look, I can't think of anything better in life than starting a business with your daughter.
24:47Right?
24:48I get to see her all the time.
24:49But let me just tell you guys, wherever there's ticks, I'm going the opposite direction.
24:53I'm the tick avoider.
24:54It's not a fit for me.
24:56Congratulations.
24:56I love to see it.
24:57Thank you.
24:57But for those reasons, I'm out.
24:59Thank you.
24:59You must be incredibly proud of her.
25:02She's just like bam, bam, bam.
25:04Every question, every answer.
25:05You know it all.
25:06The hard thing for me is my company bug bite thing.
25:09They want to get into the tick space and the problem is I have to remain loyal to them.
25:13I think you're going to do great though.
25:15I wish you great success, but I'm out.
25:18Thank you.
25:18We appreciate it.
25:19We understand.
25:19I think it's a great product.
25:21I just question how many people are going to actually use it because I forget about all that stuff when
25:25I go in the house.
25:27So, it's just not for me.
25:28I'm out.
25:28Okay.
25:29I understand.
25:29Thank you.
25:30I'm really a perfect tick girl.
25:32I almost lost my son to Lyme disease when he was two and a half.
25:36Wow.
25:37I didn't know what was wrong.
25:38High fever, hardly breathing, so I know the dangers of it.
25:42I also have had many ticks myself.
25:45If I'm not feeling well, I assume I have a tick.
25:47Exactly.
25:47Yes.
25:48Would you take 250,000 for 30%?
25:53No.
25:5320.
25:53I think that's a little bit higher than we wanted to go.
25:57We would do it for 20.
26:0030.
26:01It's a lot of work, let me tell you.
26:03We know.
26:03To get all the deals right at the big box stores, to keep your eye on them, to the chargebacks,
26:08it's not satisfying work.
26:09But 30% is too rich for us.
26:12That's a no?
26:13That's a no.
26:14I would look at this deal, but it's not a company yet, it's a product.
26:19And so how do I get my 250 back?
26:21I don't want to tie up 250,000 for 10 years while we wait for, what, TICMIT public listing?
26:27I don't want to tie up my money for 10 years.
26:29Okay, I'll make you an offer, you may not like it, but it's the only way I would do this
26:33deal.
26:33I do the 250 for 20%, a buck a unit as a royalty, so I get some kind of a
26:39distribution.
26:40Where does it end?
26:41I can't have it in perpetuity.
26:42The margins on the distributors would make that too tight.
26:46What about leave the royalty in place until I get back 2 million?
26:51That's an eight-time multiple.
26:52That doesn't make sense.
26:53Why not?
26:53It makes sense to me.
26:55Of course it does.
26:55Yeah, well, that's why...
26:56I would invest with you if you gave me that deal.
26:58I mean, look, I've structured zillions of deals like this on single products.
27:02And so I would do that deal, 250,000, 20% a buck a unit, until I make back 2
27:07million bucks.
27:08Thank you, but that won't work for us.
27:11Am I clear in understanding that you weren't interested in my 250?
27:14Yeah.
27:15For 30%.
27:16Would you do it for 25%?
27:18No.
27:19We cannot get to 30.
27:20No.
27:21I'm out.
27:22Thank you.
27:23I think these offers reflect how nascent and how early this is.
27:26Maybe we're not telling the story well enough.
27:28No, no, no, you are.
27:28No, you don't fully understand what the market is.
27:29I believe you are the tick kings.
27:32I really believe that.
27:33It's just we know how much work is important.
27:35No, I get that.
27:36Okay, well, you don't like my offer, so I understand.
27:38You don't have to take it.
27:40I'm out.
27:43Good luck, guys.
27:44We appreciate the offer.
27:45Thank you guys so much.
27:51We really do understand what we have.
27:53And we have the ability to move it forward without them.
27:56So giving away that much at this point just did not make sense for us.
28:06All right.
28:13Next up is a fashion accessory that's essential yet invisible.
28:27Hi, Sharks.
28:28I'm Olivia.
28:29And I'm Elvira.
28:30We're best friends and business partners.
28:33Sharks, Elvira and I are both wearing the hottest new asset in fashion.
28:37And no, it's not my dress.
28:39And it's not my active set.
28:41It's something invisible to the naked eye.
28:44It's our panties.
28:46But how can that be?
28:51There's not a panty line in sight.
28:54I know.
28:54It looks like we're going commando.
28:57But commando was so last year.
29:00Because stringies are here.
29:03Stringies are invisible panties that go completely undetectable under clothing.
29:08And they feel like you're wearing nothing.
29:11With magical disappearing straps that adapt to your body without riding up, rolling down, or digging in.
29:17They're designed to adhere to you.
29:20So wherever you place them, they will stay.
29:23Very obedient.
29:24Very obedient.
29:25And seamless.
29:26And more importantly, seamless.
29:29Because wherever you go, it's always a good time to not show your panty line.
29:33And now the ladies have spoken.
29:35We can't live without them.
29:36So that's why we're here, seeking $300,000 for 5% equity in our company.
29:42Wow.
29:42In front of you, you'll find your very own plate of stringies.
29:45So please, dig in.
29:47Because our panties won't.
29:50Can't wait to try them on.
29:51You should.
29:52You should.
29:52You have to.
29:54So, you said it doesn't cut in.
29:57Yeah, that's the idea.
29:58It does not cut.
29:59It's a Band-Aid.
30:00Yeah, well.
30:01I mean, just to give you an idea, this bag right here contains 2,000 stringies.
30:07Wow.
30:08Damn.
30:08Really?
30:08So if you want to ship 2,000 units, it's literally this light and this one to the store.
30:13Yes.
30:13Do you have a patent?
30:14Patent pending.
30:15We learned very, very quickly why it hadn't been done before.
30:19Yeah.
30:20Because it took us about 60 trials and error to get to this product.
30:23Very hard to make.
30:24It's bonded two materials together.
30:26It's not sandwiched.
30:27Stringies is truly an invention.
30:29And we already have value in the name.
30:31We have the most famous people, like, asking for stringies by name.
30:36Now, let's talk about the sales.
30:38We've been around for 11 months, and we have 180,000 in sales.
30:42That's not bad.
30:43That's actually not bad for 11 months.
30:44Thank you.
30:44Tell us how you sold 180,000.
30:46Where?
30:47It has been a lot of word of mouth.
30:48So, direct to consumer.
30:50Mostly.
30:50We have three wholesalers right now, and that's pretty recent.
30:54How much does that cost you to make?
30:56$2.
30:57$2, and you sell it for what?
30:59$14.
30:59Have you raised any money?
31:01We did.
31:01How much have you raised?
31:02We raised $400,000.
31:04Ooh.
31:04Okay.
31:05At a $10 million valuation.
31:06At a $10 million valuation?
31:09Damn.
31:10Why would anybody give you a $10 million valuation with no sales?
31:13Who did that?
31:13Not only did some people want to give us, many people wanted to give us this money.
31:17One of our partners is a Sports Illustrated model.
31:20One is an influencer that we have known for a while.
31:23She's like the OG influencer.
31:25And we have two business women who have started their own companies.
31:28What do you need the money for?
31:29We need to place bigger POs, so we need more money for that.
31:33And we don't want to constantly be selling out.
31:36We are set to make $1.8 million next year.
31:39Based on what?
31:40Based on our projections of metrics.
31:42The demand has been so high.
31:44Like we said, we keep selling out of all of our units.
31:46Well, did you have a background in this?
31:47I come from a family of entrepreneurs.
31:50We're all in a little bit of the race right now, which is kind of fun.
31:53But I like to say it's in my blood.
31:56I started modeling when I was 12 years old.
31:58Then I went full-time at 17, living in every country.
32:01But I have not been to Sweden, which is where Elvira is from.
32:05So I'm born and raised in Sweden.
32:06I moved here when I was 22.
32:08That was a big challenge to leave my family and all my best friends.
32:10But I will say the hardest thing I have ever done is being a new mom with a newborn and
32:17running a business.
32:18Two babies.
32:19Our business.
32:20Our stringy baby and my actual baby.
32:22Our mascot.
32:22Guys, it's a hell of a story.
32:24The valuation is so crazy.
32:26But, you know, I'm so impressed that you could do this.
32:30I see why it works.
32:31And you're probably on the cusp of blowing it up huge.
32:34But $300,000 is a lot of dough.
32:36And 5% is like pee-pee.
32:38It's nothing.
32:39And it doesn't get me out of bed.
32:41Wow.
32:41That's the problem.
32:41What will get you out of bed?
32:43So I'm going to give you the $300,000.
32:45I'll keep the 5% for schmuck insurance.
32:48But I want a buck a unit in royalty.
32:51In perpetuity?
32:52Is there any other word?
32:55You're saying forever.
32:56Forever.
32:57I invested in Rounderbum.
32:58That's a great...
32:58Do you remember that product here in LA?
33:00Rounderbum?
33:01No.
33:01I'm their investor.
33:02Rounderbum was also an undergarment that actually enhanced a man's package.
33:08Yeah, I could see a need for that.
33:09So guys.
33:09It's just a little too high for me for where you're at in regards to sales.
33:15And challenging for me.
33:18Good luck.
33:19But I'm out.
33:20Okay.
33:20Thank you.
33:22What do you want the shark to do for you?
33:23We haven't been able to place big enough orders.
33:26And we're ready to do that because we know we can scale.
33:29I feel like Kevin would be a better partner for you.
33:31I really do because he gets the underwear business.
33:35So I'm out.
33:36Guys, I don't think I can help you enough.
33:38And I think you guys will go far anyways.
33:40So for those reasons, I'm out.
33:42Okay.
33:43Okay.
33:43There are two things I really like about your business.
33:46One, I love the two of you, obviously.
33:49Everybody here has fallen in love with you.
33:51You're having so much fun while you're doing the hard work.
33:53I like the fact that you realize you have a brand here and the valuation.
33:57You can name what you want if you really believe in your brand.
34:00So?
34:01I'll pay you $300,000 for 10%.
34:04That's it.
34:04But I'll build your brand with you.
34:06Yes, you will.
34:07Because I know about brand building.
34:08So you have two offers.
34:10Barbara and Kevin.
34:11I'm a lot prettier than Kevin.
34:12I don't know about that.
34:13Okay.
34:14I want to actually say something to you guys.
34:16So we have a $10 million valuation right now.
34:17Our safes are going to convert, right?
34:19So when they convert, they have a 30% discount.
34:22So if we take anything at a less than $10 million valuation,
34:25that leaves actually less equity for us to give you.
34:27We can offer advisory shares.
34:29And when we get no vesting, as soon as we close this deal,
34:31we can give you the equity right away.
34:32It's the same thing for you.
34:33And you're going to delete off the top.
34:34Same difference.
34:35You know what I'll do to solve your problem?
34:37I'll give you your valuation,
34:38which shares my equity practically to nothing.
34:40But I still want to get my dollar royalty.
34:42Okay.
34:43So you'll give us $300,000 for 3%?
34:45Yeah, I'll do that.
34:46But I still want my buck royalty.
34:48Otherwise, how do I get my capital back?
34:50So next year, our projected sales are $1.8 million,
34:53which is a $560,000 profit for us.
34:56If we give you $1 royalty, that will make it one-third.
34:59It will take one-third of 30%.
35:01My offer.
35:01Martlady.
35:01I understand your dilemma on the safe.
35:04I get it.
35:04So what converts your safe?
35:06Is it a minimum investment?
35:07The first raise.
35:08Yeah.
35:08The first raise at all, no matter what.
35:10Yes, which is this.
35:10Safe notes are pro and cons on that.
35:12Yeah, yeah.
35:12That's why we're contorting this.
35:14Yeah.
35:14So would you do $300,000 for 3% plus $0.22 per...
35:21What?
35:22What's your thinking on $0.22?
35:24But $0.22 is the highest that we can go in perpetuity.
35:26Don't do it in perpetuity.
35:28Don't do it.
35:28Wait a second, Mark.
35:29What is the thinking on the $0.22 though?
35:32Just that's a number?
35:33Do you like it?
35:37I want to understand how you got there.
35:40It's how it cuts into our profit margin.
35:42I understand.
35:43Yeah.
35:43$1 too high.
35:44No, I wouldn't, but I'd do it for $0.50.
35:48I'll take that deal that you offered.
36:03Three sharks are out.
36:05Olivia and Elvira have two offers on the table from Kevin and Barbara
36:09for their invisible thong company, Stringy's.
36:11They've countered Kevin's offer with $300,000 for a 3% stake plus a royalty of $0.22 per unit
36:18sold in perpetuity.
36:19I'll take that deal that you offered.
36:22$300,000 for 3%.
36:24Yes.
36:25Plus $0.22.
36:26Cents.
36:27Forever and ever.
36:28If we're going to give you forever...
36:31Yeah.
36:31What'd you do?
36:32Let's give you $0.22 until you get your money back and we can offer you 3% advisory shares.
36:373%?
36:38Yes.
36:39No, I think $0.22 is a good idea forever.
36:42Forever, yeah.
36:43But then...
36:44Okay, here.
36:44Come here.
36:45You girls are adorable, by the way.
36:48Plus $0.22 forever.
36:50Okay.
36:52Barbara.
36:52I'm afraid to hear your camera.
36:54Would you give us $600,000 for 6% of the company and get $0.22 forever?
37:01No.
37:02Too rich.
37:03You guys are sharky.
37:04The deal I like if you want to do it is the $300,000 for 3% equity, but $0
37:10.50 in perpetuity.
37:12I would do that deal.
37:13So then I'm going to turn to Barbara.
37:15Will you do $300,000 for 3% plus $0.22 forever?
37:21No advisory shares.
37:25Yeah, I'll take that deal.
37:27Oh, my God.
37:29Yay!
37:31Thank you.
37:32Good to hear you.
37:33I hope I get you a figure when I make this deal.
37:36You will.
37:36Congrats, guys.
37:37Well done.
37:38Thank you guys so much.
37:39You are crazy cats.
37:41You guys are awesome.
37:42Thank you.
37:45I'm sorry.
37:47This has been a dream come true.
37:49Shark Tank has been such a learning experience for us.
37:52We got to learn so many things.
37:54All the numbers you heard us talking about, Shark Tank taught us how to know.
37:58Yeah.
37:59So, it's the best business school we've ever had.
38:02Really, truly.
38:06This season is Mark's last as a shark.
38:09Let's take a look back over his 15 seasons on Shark Tank as we celebrate his contribution
38:14to American entrepreneurship.
38:17I just love this whole thing.
38:19We're about to make you a millionaire just like that.
38:23That is ugly.
38:25No, it's not as good.
38:27I'm just a lean, mean shark machine, baby.
38:30I remember literally thinking, the show is not going to last.
38:34Just go on there.
38:35Just tear it up.
38:36Raise hell.
38:37Cause trouble.
38:38Horrible.
38:40Have a basketball guy.
38:41Right.
38:41I'm going to give you 24 seconds.
38:4224 seconds.
38:43Okay.
38:44Attention on me.
38:45Yes, sir.
38:45I really didn't expect there to be a third season.
38:48And then boom.
38:48It just blew up.
38:50Let's party.
38:52Now we'll do our money dance.
38:53Yeah.
38:58Yeah.
39:00Don't hate me because I'm beautiful.
39:04Oh, my God.
39:08It's good to be the king.
39:11I think I just brought a little bit of an edge where I tried to make it not so much
39:16about
39:17a academic investment show, but more, you know, a show that is about people trying to
39:23reach their goals, trying to have their dreams come true.
39:25I've been in their shoes.
39:27You know, I've been broke.
39:28I've been sleeping on the floor.
39:30I can put myself in the shoes of pretty much anybody who's standing on the carpet.
39:34From getting a deal with Mark, our lives have completely changed.
39:37We're over $350 million in lifetime sales.
39:401.1 million.
39:42That's what it's all about.
39:43Bringing with Mark is a company's dream scenario.
39:46Since we pitched, we've done over half a billion dollars in sales.
39:50We're so grateful to Mark and to Shark Tank for where we are today.
39:53I'm the luckiest guy in the world.
39:55You know, I wake up every day and try to never take what's happened to me for granted.
39:59When I die, I want to come back as me.
40:0175% of a watermelon is a whole lot better than 100% of a grape.
40:04Do you have a little bit of flexibility?
40:06That was my flexibility.
40:08Depends how much you want to change the world.
40:09You always have to run your business like there's someone else out there working 24 hours a day to kick
40:14your butt.
40:14One of the reasons I do this show is to inspire kids like you.
40:18I want you all to think, who's next?
40:20And what are you guys going to do to get there?
40:22Try different things because there's absolutely nothing that can possibly stop you guys.
40:26What I'd like to say is thanks for everybody who took a chance on me.
40:32Congratulations.
40:32Thank you so much.
40:33Thank you.
40:34All the entrepreneurs who said yes to me.
40:36Who knows how many millionaires we've created and their employees, how many people we've inspired.
40:46I'm proud of what we've done.
40:48It doesn't matter where you come from.
40:49If you put your mind to it, anything is possible.
40:53I want you to know how much we believe in you.
41:04I've learned a lot.
41:06Real pleasure to have you here.
41:07We're going to miss you.
41:08Thanks, Robert.
41:09Cheers.
41:09Mark, having you leave is really like having a big brother leave the house.
41:14You're a warrior.
41:15You're a humanitarian.
41:17You're just an all around great, great person.
41:19And I admire and respect you and love you.
41:23He continues to change the world.
41:25And I love you, man.
41:26I love you too, Dave.
41:26All right.
41:27I'm so proud what we've all built together.
41:31We have become ambassadors of the American dream around the world.
41:35So much of it is because of you.
41:36Of course.
41:37We don't always agree.
41:38Nope.
41:39We don't.
41:40And sometimes you've learned a lot from me.
41:43You guys are amazing.
41:44I mean, I've learned so much from all of you.
41:47We've had such an impact.
41:49And to Shark Tank, to the people who supported us, to the people who love us.
41:53I love you guys like family.
41:54Thank you.
41:55Thank you.
41:55All right.
41:56One, two, three.
41:59Chevrolet de Tétemain.
42:01Yay!
42:04This show changed me.
42:06I think I changed the show.
42:08And I think we all together, as sharks, changed America.
42:14Fantastic, baby.
42:15Absolutely.
42:16What a great run.
42:32I think we'll be following yet.
42:33We have already a stage.
42:37Carlos Berdo Bet who faced the show.
42:38I think the major reality is a great strength and נוLet detection.
42:41It's just a nightmare.
42:41We ready to ride.
42:41Let's go.
42:43We beat offices, right?
42:44That's a way that definitely seems to everybody.
42:45We might not enjoy ourantasms.
42:45We don't like this.
42:46It's just the surprise window.
42:46I'm well-�� we have người et Hawksji fan club.
42:47I'm sports.
42:47We're all about to be recognized and you've command them through.
42:50We're not afraid of the moonlight between a day.
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