1 00:00:01,001 --> 00:00:02,703 Narrator: Tonight, the holiday spirit is back in the Tank. 2 00:00:02,703 --> 00:00:04,538 Who's ready to be my gnome-y? 3 00:00:04,538 --> 00:00:05,772 [ Laughter ] 4 00:00:05,772 --> 00:00:07,774 Our Christmas collection puts the cool in Christmas. 5 00:00:07,774 --> 00:00:09,776 [ Roars ] Lori! Aah! [ Chuckles ] 6 00:00:09,776 --> 00:00:12,479 We know money doesn't grow on trees, but for us... 7 00:00:12,479 --> 00:00:13,647 Both: It falls from the sky. 8 00:00:13,647 --> 00:00:15,516 It's snowing! 9 00:00:15,516 --> 00:00:16,717 For us, it's not about the money. 10 00:00:16,717 --> 00:00:17,851 It is about the money. 11 00:00:17,851 --> 00:00:19,653 I'm glad y'all are saying that. 12 00:00:19,653 --> 00:00:21,388 Ultimately, I've always hustled. 13 00:00:21,388 --> 00:00:22,489 We know we're gonna kill it. 14 00:00:22,489 --> 00:00:24,491 I hate winter. Apparently. 15 00:00:24,491 --> 00:00:25,592 Boring! 16 00:00:25,592 --> 00:00:33,100 ♪♪ 17 00:00:33,100 --> 00:00:36,603 Narrator: First into the Tank are champions hoping to win 18 00:00:36,603 --> 00:00:39,139 in a competitive space. 19 00:00:39,139 --> 00:00:41,575 ♪♪ 20 00:00:41,575 --> 00:00:44,278 Aww. 21 00:00:44,278 --> 00:00:46,647 [ Chuckles ] 22 00:00:46,647 --> 00:00:47,948 Yo, yo, yo. What up, Sharks? 23 00:00:47,948 --> 00:00:50,918 I'm Aaron Ross. And I am Sanya Richards-Ross, 24 00:00:50,918 --> 00:00:54,021 and we are so excited to be here. [ Chuckles ] 25 00:00:54,021 --> 00:00:55,856 Oh, my goodness. I'm sorry. I'm never so nervous. Okay. 26 00:00:55,856 --> 00:00:57,724 You're good, baby. Alright, let's do it. 27 00:00:57,724 --> 00:00:59,593 You ready? Let's get it. Yes. 28 00:00:59,593 --> 00:01:02,963 We're here seeking $100,000 for 10% of our company. 29 00:01:02,963 --> 00:01:05,866 Now, Sharks, as athletes with our own unique style, 30 00:01:05,866 --> 00:01:08,835 swag, and flair, we always knew when you look good... 31 00:01:08,835 --> 00:01:11,672 You play good. So if we wanted to continue winning 32 00:01:11,672 --> 00:01:14,675 as a family, we needed to... 33 00:01:14,675 --> 00:01:17,578 Coordinate. So we created Coordinates, 34 00:01:17,578 --> 00:01:19,646 a pajama and loungewear company 35 00:01:19,646 --> 00:01:22,549 that elevates everyday moments into lasting memories. 36 00:01:22,549 --> 00:01:24,851 And as a dad, I love when my family coordinates 37 00:01:24,851 --> 00:01:27,087 because everybody knows that's my crew. 38 00:01:27,087 --> 00:01:29,923 And we want you to be proud to show up with your crew too, 39 00:01:29,923 --> 00:01:32,826 especially at the most wonderful time of the year... 40 00:01:32,826 --> 00:01:35,696 Both: Christmas. Now, Sharks, we know you see it, 41 00:01:35,696 --> 00:01:37,898 but our Christmas collection puts the cool in Christmas... 42 00:01:37,898 --> 00:01:39,900 By bringing the swag to Santa. 43 00:01:39,900 --> 00:01:42,602 And Coordinates isn't just about the holidays. 44 00:01:42,602 --> 00:01:44,972 We've done some really cool collaborations too. 45 00:01:44,972 --> 00:01:46,907 With the Olympics coming back to the US, 46 00:01:46,907 --> 00:01:49,876 our Team USA collection will have you beaming with pride. 47 00:01:49,876 --> 00:01:53,580 So, Sharks, who's ready to coordinate with us 48 00:01:53,580 --> 00:01:57,351 and join our movement of... 49 00:01:57,351 --> 00:01:58,852 Matching? 50 00:01:58,852 --> 00:02:01,421 Boom! Good job. Good job. 51 00:02:01,421 --> 00:02:03,624 That is one cute baby. 52 00:02:03,624 --> 00:02:05,892 Yeah, it is now, bro. [ Laughs ] That Afro! 53 00:02:05,892 --> 00:02:07,861 Thank you, guys. Alright. 54 00:02:07,861 --> 00:02:09,162 Sanya, is that your whole family there? That is. 55 00:02:09,162 --> 00:02:12,232 So that was my mom and our two boys and my husband's mom. 56 00:02:12,232 --> 00:02:15,802 Greiner: Aww, that's sweet. So the grandmas and the babies, yes. 57 00:02:15,802 --> 00:02:17,838 I recognize you from football, right? 58 00:02:17,838 --> 00:02:19,640 Yes, sir. Yes, sir. And you went to UT, right? 59 00:02:19,640 --> 00:02:20,974 UT. Yeah. Okay. 60 00:02:20,974 --> 00:02:24,378 How do you know that? 'Cause I live in Dallas, right? 61 00:02:24,378 --> 00:02:25,545 Sanya: Yes, yes. Oh, man. 62 00:02:25,545 --> 00:02:26,646 Why don't you guys tell us your story? 63 00:02:26,646 --> 00:02:28,081 Awesome. I was born in Kingston, Jamaica, 64 00:02:28,081 --> 00:02:30,717 where track and field is the most popular sport. 65 00:02:30,717 --> 00:02:32,686 By the time I was nine, 66 00:02:32,686 --> 00:02:34,821 I told my teacher I would be an Olympic champion. 67 00:02:34,821 --> 00:02:37,891 Well, after a lot of hard work and dedication, 68 00:02:37,891 --> 00:02:40,927 in London, I finally ran into my fairy tale ending 69 00:02:40,927 --> 00:02:44,598 when I won my Olympic gold medal at 400 meters and my -- 70 00:02:44,598 --> 00:02:47,701 Wow! Good for you! Yay! 71 00:02:47,701 --> 00:02:50,704 And now I am a loving wife, 72 00:02:50,704 --> 00:02:53,206 I am a mom, and of course an entrepreneur working 73 00:02:53,206 --> 00:02:56,710 on the most important project with my husband, Coordinates. 74 00:02:56,710 --> 00:02:58,712 How long it take you to do the 400? 75 00:02:58,712 --> 00:02:59,946 I'm the American record holder, 76 00:02:59,946 --> 00:03:02,549 so my time is 48.7 seconds. Greiner: Yay! Whoo! 77 00:03:02,549 --> 00:03:03,717 Wow. Cuban: That's insane. 78 00:03:03,717 --> 00:03:05,552 It's insane. 79 00:03:05,552 --> 00:03:07,054 So for me, I grew up in Texas. 80 00:03:07,054 --> 00:03:09,623 And if you know anything about Texas, football is king. 81 00:03:09,623 --> 00:03:11,825 It's everything, yeah. Balled out, 82 00:03:11,825 --> 00:03:14,594 got a scholarship to go to the University of Texas, 83 00:03:14,594 --> 00:03:16,129 and I met my wife. 84 00:03:16,129 --> 00:03:19,099 Junior year, we won a national championship. 85 00:03:19,099 --> 00:03:21,068 That's the Vince Young game, right? Vince Young. 86 00:03:21,068 --> 00:03:24,438 Yeah. Yeah. The Vince Young and Aaron Ross game. 87 00:03:24,438 --> 00:03:25,739 [ Laughter ] Yeah. 88 00:03:25,739 --> 00:03:28,041 Senior year, won the Jim Thorpe Award, which is given to 89 00:03:28,041 --> 00:03:31,078 the best defensive back in all of college football. In the nation. 90 00:03:31,078 --> 00:03:34,581 The next year, got drafted first round to the New York Giants. 91 00:03:34,581 --> 00:03:35,916 Won two Super Bowls with them. 92 00:03:35,916 --> 00:03:38,685 And now I'm a proud family man just selling... 93 00:03:38,685 --> 00:03:40,220 What a story! 94 00:03:40,220 --> 00:03:42,722 John: So let's get this straight -- the kids can say, 95 00:03:42,722 --> 00:03:43,924 "My parents have two Super Bowl rings 96 00:03:43,924 --> 00:03:45,192 and a gold medal in the Olympics." 97 00:03:45,192 --> 00:03:47,694 Four gold medals. Four gold medals. Four. Four. 98 00:03:47,694 --> 00:03:49,963 Underachievers! 99 00:03:49,963 --> 00:03:51,131 Alright. So let's get to this. 100 00:03:51,131 --> 00:03:53,834 So this is actually -- I just felt it a little bit -- 101 00:03:53,834 --> 00:03:56,636 very, very nice quality. Thank you. 102 00:03:56,636 --> 00:03:57,804 And this is how you're selling it, 103 00:03:57,804 --> 00:04:00,807 and the concept is for the family to match, or...? 104 00:04:00,807 --> 00:04:02,776 Yes, I love coordinating my family. 105 00:04:02,776 --> 00:04:04,644 Since freshman year. Since I met him in college, 106 00:04:04,644 --> 00:04:05,645 we've been always matching. 107 00:04:05,645 --> 00:04:06,847 And so for me -- Wait, wait, wait. 108 00:04:06,847 --> 00:04:08,181 Since freshman year... Since freshman year. 109 00:04:08,181 --> 00:04:10,117 ...you would walk around campus matching? Yeah. 110 00:04:10,117 --> 00:04:12,786 I just always feel like it's a really nice experience 111 00:04:12,786 --> 00:04:14,588 when people know that we were together. 112 00:04:14,588 --> 00:04:15,989 [ Laughter ] 113 00:04:15,989 --> 00:04:17,858 You had to get killed. John: Aw, yo, man. 114 00:04:17,858 --> 00:04:19,159 I can see you going to practice... 115 00:04:19,159 --> 00:04:21,061 Both: It wasn't at first. What you doing, man? What you doing? 116 00:04:21,061 --> 00:04:23,029 I used to fight with it every time. 117 00:04:23,029 --> 00:04:24,931 No, why he did it, because he'd be the first one to be like, 118 00:04:24,931 --> 00:04:26,967 "Let me see the pictures." The pictures were nice. 119 00:04:26,967 --> 00:04:28,201 Especially when the family came about. Yeah. 120 00:04:28,201 --> 00:04:30,871 And so for us, it's more about helping families create, 121 00:04:30,871 --> 00:04:32,139 you know, memorable moments. 122 00:04:32,139 --> 00:04:33,940 Herjavec: So I don't know if you know this, 123 00:04:33,940 --> 00:04:37,878 but I invested in what is now a big pajama company, Tipsy Elves. 124 00:04:37,878 --> 00:04:40,914 Yes, yes. We're doing many, many hundreds of millions. 125 00:04:40,914 --> 00:04:44,084 I love fun stuff. People buy this stuff. 126 00:04:44,084 --> 00:04:47,788 Yeah. How do I order this? Is this an all-online...? 127 00:04:47,788 --> 00:04:50,190 Yeah. So right now we're currently all online. 128 00:04:50,190 --> 00:04:52,759 We launched with our Christmas collection last year, 129 00:04:52,759 --> 00:04:53,994 and we sold out right away. 130 00:04:53,994 --> 00:04:55,762 Like you said, people love the Christmas collections, 131 00:04:55,762 --> 00:04:56,897 so they went online and bought it. 132 00:04:56,897 --> 00:04:59,633 What are your sales? $25,000 in one month. 133 00:04:59,633 --> 00:05:00,700 One month. 134 00:05:00,700 --> 00:05:02,235 This is our second collection, 135 00:05:02,235 --> 00:05:06,506 which was the USA set, and we had it for three months 136 00:05:06,506 --> 00:05:08,074 and we made $55,000. 137 00:05:08,074 --> 00:05:09,276 Herjavec: This year? Both: This year. 138 00:05:09,276 --> 00:05:11,878 This year. What do they cost, what you're wearing? 139 00:05:11,878 --> 00:05:14,247 What do you sell that for? This is a set, and it's $89. 140 00:05:14,247 --> 00:05:16,049 What does it cost you to make? What does it cost you to make? 141 00:05:16,049 --> 00:05:18,218 This is $27. Really not a bad price at all. 142 00:05:18,218 --> 00:05:21,154 And that's going to go down as our quantity goes up. 143 00:05:21,154 --> 00:05:24,324 Sanya, how did you get the license for the Olympics? 144 00:05:24,324 --> 00:05:26,193 We knew we didn't want it to be a seasonal collection. 145 00:05:26,193 --> 00:05:28,128 Right? We didn't want to just focus on Christmas. 146 00:05:28,128 --> 00:05:30,730 I called up the CEO of USA Track & Field. 147 00:05:30,730 --> 00:05:32,065 He put me in touch with the USOC, 148 00:05:32,065 --> 00:05:34,000 and I charmed them like we're doing today. 149 00:05:34,000 --> 00:05:36,403 And are you the exclusive...? Good for you. 150 00:05:36,403 --> 00:05:39,072 We're the exclusive pajama and loungewear partners of Team USA. 151 00:05:39,072 --> 00:05:41,808 Aaron: Through '28. Yeah. Through '28. 152 00:05:41,808 --> 00:05:43,743 This is massive that you were able to do that. 153 00:05:43,743 --> 00:05:44,844 Yeah. Thank you. Thank you so much. 154 00:05:44,844 --> 00:05:47,848 Sanya, I'm not clear -- what is the brand? 155 00:05:47,848 --> 00:05:49,950 Like when I invested in Tipsy Elves... Yeah. 156 00:05:49,950 --> 00:05:51,885 ...it was just ugly Christmas sweaters. 157 00:05:51,885 --> 00:05:53,386 But the brand was fun. Right. Yes. 158 00:05:53,386 --> 00:05:56,923 So we've been able to take super fun, cool... Right. Yes. Yes. 159 00:05:56,923 --> 00:05:59,192 ...into pajamas, into ski wear. Right. 160 00:05:59,192 --> 00:06:01,928 When I see this, what do you want me to think? 161 00:06:01,928 --> 00:06:04,030 I want you to think about creating lasting memories 162 00:06:04,030 --> 00:06:05,232 with your families. 163 00:06:05,232 --> 00:06:06,866 Coordinates is a tough name, right? 164 00:06:06,866 --> 00:06:08,068 'Cause it can mean a thousand things. Yeah. 165 00:06:08,068 --> 00:06:10,003 Yeah. I think to Robert's point, 166 00:06:10,003 --> 00:06:11,304 with Tipsy Elves, you know, it's kind of fun. Okay. 167 00:06:11,304 --> 00:06:14,007 Like, with "yo yo yo," like, if you can get that trademarked, 168 00:06:14,007 --> 00:06:15,942 it should be Yo Yo Yo Clothes. John: Yo Yo Yo is it right there. 169 00:06:15,942 --> 00:06:18,245 Well, one thing, of course, is coordinating your family. 170 00:06:18,245 --> 00:06:20,146 So a lot of times you're coordinating events -- 171 00:06:20,146 --> 00:06:21,848 But you have to always explain that though, right? 172 00:06:21,848 --> 00:06:23,149 Yo Yo Yo is it. 173 00:06:23,149 --> 00:06:25,051 You never want to have to explain your name... Yeah. 174 00:06:25,051 --> 00:06:26,186 ...to make sure it connects to people. 175 00:06:26,186 --> 00:06:28,388 But if it was like Yo Yo Yo Loungewear, 176 00:06:28,388 --> 00:06:31,758 or Clothing or Family-wear or whatever... Okay. That's why we're here. 177 00:06:31,758 --> 00:06:33,059 Yeah. 178 00:06:33,059 --> 00:06:34,894 So look, I'm really impressed. 179 00:06:34,894 --> 00:06:37,097 We've never had this much gold... 180 00:06:37,097 --> 00:06:38,398 Cuban: Right? John: Hardware. 181 00:06:38,398 --> 00:06:40,133 Yeah, and hardware on the carpet. The chips are stacked up. 182 00:06:40,133 --> 00:06:41,835 This is crazy. Thank you. 183 00:06:41,835 --> 00:06:43,970 Congrats. But this is not my space. 184 00:06:43,970 --> 00:06:45,906 However, there are a couple of Sharks here 185 00:06:45,906 --> 00:06:47,807 that have gone down this journey multiple times. 186 00:06:47,807 --> 00:06:49,209 Not a deal for me. Thank you very much. 187 00:06:49,209 --> 00:06:50,343 Thanks, Mr. Wonderful. Thank you. Thank you. 188 00:06:50,343 --> 00:06:52,946 You guys, I'm kind of in the same boat, right? 189 00:06:52,946 --> 00:06:54,147 I'm just not the clothing guy. 190 00:06:54,147 --> 00:06:56,650 Even though I am a fashion icon. 191 00:06:56,650 --> 00:06:57,183 [ Laughter ] 192 00:06:57,183 --> 00:06:58,818 For those reasons, I'm out. 193 00:06:58,818 --> 00:07:00,220 Thank you. Well, thank you. 194 00:07:00,220 --> 00:07:03,023 First of all, so impressed with both of you. 195 00:07:03,023 --> 00:07:06,092 But I don't really know the clothing business. 196 00:07:06,092 --> 00:07:08,695 And, you know, Robert and Daymond, 197 00:07:08,695 --> 00:07:09,930 that's their thing. 198 00:07:09,930 --> 00:07:13,099 On this one, it's better if I go out. 199 00:07:13,099 --> 00:07:15,101 Thank you. Thank you. Thank you, Lori. Thank you. 200 00:07:15,101 --> 00:07:19,239 So, you've only tapped into just a small amount 201 00:07:19,239 --> 00:07:23,243 of your IP value, who you both are. Yeah. 202 00:07:23,243 --> 00:07:26,246 It's worth millions of dollars. Millions of dollars. 203 00:07:26,246 --> 00:07:30,850 This is an insult, the money that we would give you for this. 204 00:07:30,850 --> 00:07:32,786 All due respect to this business, 205 00:07:32,786 --> 00:07:33,987 it's just too early for me, 206 00:07:33,987 --> 00:07:35,755 and I think there's way more value on the other side, 207 00:07:35,755 --> 00:07:36,790 so I'm out. 208 00:07:36,790 --> 00:07:39,059 ♪♪ 209 00:07:39,059 --> 00:07:40,860 It's alright. Thank you. Herjavec: Sanya and Aaron, 210 00:07:40,860 --> 00:07:43,163 your story, it's authentic. 211 00:07:43,163 --> 00:07:46,266 Creating an authentic brand is super hard. 212 00:07:46,266 --> 00:07:48,301 The one thing you didn't talk about -- 213 00:07:48,301 --> 00:07:50,403 I'm putting my glasses on because I'm old -- is... Yes, yes, yes. 214 00:07:50,403 --> 00:07:53,340 I wanted to see -- We have to tell them this. We need to talk about that. 215 00:07:53,340 --> 00:07:55,675 Like -- Like... Yeah, can we tell you about that? 216 00:07:55,675 --> 00:07:56,843 Sanya... Yeah. 217 00:07:56,843 --> 00:07:58,211 ...I'm reading this. Yes. 218 00:07:58,211 --> 00:08:01,114 Yes. Resilience. Focus. 219 00:08:01,114 --> 00:08:03,350 Yeah. Yeah. Hard work. Dedication. 220 00:08:03,350 --> 00:08:05,185 Courage. Greiner: What? Is that on the fabric? 221 00:08:05,185 --> 00:08:06,920 Excellence. Yeah. 222 00:08:06,920 --> 00:08:09,222 Why is that not the brand? Aaron: Yes. 223 00:08:09,222 --> 00:08:11,358 Yes. Yes. You are winners. 224 00:08:11,358 --> 00:08:13,293 Yes. That's it. This is so motivating. 225 00:08:13,293 --> 00:08:15,095 Thank you. My husband always says that. 226 00:08:15,095 --> 00:08:16,329 That's true, Robert. Robert, that's a good point. 227 00:08:16,329 --> 00:08:18,064 Greiner: It's true. That is the brand. See? 228 00:08:18,064 --> 00:08:19,399 You're confusing me. Both: Yeah. 229 00:08:19,399 --> 00:08:21,968 Why is Live the Dream not the name? Yeah 230 00:08:21,968 --> 00:08:23,036 Aaron: Right. Right. 231 00:08:23,036 --> 00:08:24,104 Well, I mean, that's -- Listen. 232 00:08:24,104 --> 00:08:26,172 We spent 30 years dedicated to sports, 233 00:08:26,172 --> 00:08:28,174 and we became the best at it. Right. 234 00:08:28,174 --> 00:08:30,176 So we are now learning business, 235 00:08:30,176 --> 00:08:32,212 and we truly do want to be great. 236 00:08:32,212 --> 00:08:34,280 And so we know if we partner with somebody, with our drive, 237 00:08:34,280 --> 00:08:36,483 with our dedication to hard work, we know we can be great, 238 00:08:36,483 --> 00:08:38,485 but we're just figuring it out as we go. Right. 239 00:08:38,485 --> 00:08:42,122 Sanya, why are you so emotional about this? She's passionate. 240 00:08:42,122 --> 00:08:45,191 The one thing about my wife, I mean, she's -- 241 00:08:45,191 --> 00:08:48,194 She wears her heart on her sleeve, and she's a grinder. 242 00:08:48,194 --> 00:08:49,329 She's a go-getter. 243 00:08:49,329 --> 00:08:51,197 I'm not saying this just because it's my wife, 244 00:08:51,197 --> 00:08:53,333 but anybody that you want to do business with 245 00:08:53,333 --> 00:08:56,102 or just have on your team, it's her. 246 00:08:56,102 --> 00:08:59,272 I know for every husband, you want to get a partner 247 00:08:59,272 --> 00:09:01,207 that's going to pull greatness out of you, 248 00:09:01,207 --> 00:09:05,044 and she's pulled greatness out of me, so... Aww. 249 00:09:05,044 --> 00:09:06,846 Aww. That's wonderful. 250 00:09:06,846 --> 00:09:08,882 Anything she puts her mind to, 251 00:09:08,882 --> 00:09:11,217 I know she's going to achieve it. 252 00:09:11,217 --> 00:09:12,919 It's also really important to us, too, 253 00:09:12,919 --> 00:09:14,120 because as athletes, 254 00:09:14,120 --> 00:09:16,156 I think when you start making all this money, 255 00:09:16,156 --> 00:09:18,024 a lot of times you don't have a lot of guidance around you. 256 00:09:18,024 --> 00:09:19,426 And a lot of people took advantage of us 257 00:09:19,426 --> 00:09:21,294 at the beginning of our career financially. 258 00:09:21,294 --> 00:09:23,163 And so now I feel like we can do something 259 00:09:23,163 --> 00:09:25,098 that's legacy-building for our children. 260 00:09:25,098 --> 00:09:27,434 So I'm really motivated by doing this for my family, 261 00:09:27,434 --> 00:09:30,203 and so I feel like this is an opportunity to really rebuild 262 00:09:30,203 --> 00:09:32,105 and be able to pass on something to our children. 263 00:09:32,105 --> 00:09:33,540 And for us, it's not about the money, 264 00:09:33,540 --> 00:09:37,043 it's about the relationships, the mentorship. Yeah. 265 00:09:37,043 --> 00:09:39,279 Aaron, it is about the money. 266 00:09:39,279 --> 00:09:41,314 Look. Never sell yourself short. Both: Yeah. 267 00:09:41,314 --> 00:09:44,217 You guys have achieved something nobody up here 268 00:09:44,217 --> 00:09:45,585 would ever achieve. Thank you. 269 00:09:45,585 --> 00:09:50,824 I think the brand is just so confusing to me, but I'm torn. 270 00:09:50,824 --> 00:09:54,627 ♪♪ 271 00:10:02,268 --> 00:10:04,137 Narrator: Four Sharks are out. 272 00:10:04,137 --> 00:10:07,273 Robert is Aaron and Sanya's last chance for a deal 273 00:10:07,273 --> 00:10:10,443 for their matching sleepwear company, Coordinates. 274 00:10:10,443 --> 00:10:13,213 You guys have achieved something nobody up here 275 00:10:13,213 --> 00:10:14,547 would ever achieve. Thank you. 276 00:10:14,547 --> 00:10:19,385 I think the brand is just so confusing to me, but I'm torn. 277 00:10:19,385 --> 00:10:21,488 Like, half of me is like... Make an offer! We'll figure it out. 278 00:10:21,488 --> 00:10:23,690 ..."Oh, my gosh, I love these people!" We'll figure it out together. 279 00:10:23,690 --> 00:10:26,359 I love the words. We'll figure it out together, Robert. 280 00:10:26,359 --> 00:10:28,094 We'll figure it out together. 281 00:10:28,094 --> 00:10:30,029 But the other half of me is like, 282 00:10:30,029 --> 00:10:32,332 you did $25,000 in sales last year. 283 00:10:32,332 --> 00:10:34,200 You did $50,000... Yeah, but we did a really small run. 284 00:10:34,200 --> 00:10:35,401 We did a really small run both times 285 00:10:35,401 --> 00:10:37,237 because we just wanted to test the market. 286 00:10:37,237 --> 00:10:39,239 Aaron: Right. So especially the Team USA stuff coming up, 287 00:10:39,239 --> 00:10:40,673 I mean, we know we're going to kill it. 288 00:10:40,673 --> 00:10:45,211 Are you open to changing some of the branding? We're open! 289 00:10:45,211 --> 00:10:47,080 Yes, 100%. Yes? 290 00:10:47,080 --> 00:10:48,181 We're very coachable. 291 00:10:48,181 --> 00:10:50,250 We want to build a successful business, 292 00:10:50,250 --> 00:10:52,118 and we want it to be authentic to who we are. Okay. 293 00:10:52,118 --> 00:10:54,154 I'm very good at this. 294 00:10:54,154 --> 00:10:56,289 I'll give you the $100,000 for 25%. 295 00:10:56,289 --> 00:11:01,160 It's super early. To me, you're almost like a startup. 296 00:11:01,160 --> 00:11:03,329 I'm investing in you. Yes. That's all we want. 297 00:11:03,329 --> 00:11:06,065 And I know the work, and I'll work with you on it. 298 00:11:06,065 --> 00:11:08,468 $100,000, 25%. 299 00:11:08,468 --> 00:11:11,004 Would you do $100,000 for 20%? 300 00:11:11,004 --> 00:11:12,372 Aaron: Yeah. 301 00:11:12,372 --> 00:11:14,040 I'll do that. Oh! 302 00:11:14,040 --> 00:11:15,308 Cuban: Look at you, DJ! 303 00:11:15,308 --> 00:11:17,477 Greiner: Oh! Yeah! 304 00:11:17,477 --> 00:11:19,345 Oh, hey, with all due respect to my friend Daymond, 305 00:11:19,345 --> 00:11:21,247 he's a great guy. 306 00:11:21,247 --> 00:11:23,583 I am living this space right now. 307 00:11:23,583 --> 00:11:25,418 I've lived this space for 16 years. Ooh. 308 00:11:25,418 --> 00:11:27,353 Well, I'll say this. 309 00:11:27,353 --> 00:11:30,323 I appreciate you staying with us the whole time, 310 00:11:30,323 --> 00:11:32,825 you know, and getting to this point. 311 00:11:32,825 --> 00:11:35,595 ♪♪ 312 00:11:35,595 --> 00:11:39,899 I love Daymond, but would you do it for 20%? 313 00:11:39,899 --> 00:11:46,172 ♪♪ 314 00:11:46,172 --> 00:11:48,074 Alright, I'll do it for 20%. 315 00:11:48,074 --> 00:11:49,842 Done! 316 00:11:49,842 --> 00:11:53,880 [ Cheering ] 317 00:11:53,880 --> 00:11:55,982 [ Laughter ] 318 00:11:55,982 --> 00:11:58,751 Aah! 319 00:11:59,319 --> 00:12:02,188 [ Indistinct ] Aah! Aah! 320 00:12:02,188 --> 00:12:03,256 Nice work! 321 00:12:03,256 --> 00:12:05,158 We were not leaving -- Great job! 322 00:12:05,158 --> 00:12:07,427 Yes! Congratulations, guys. 323 00:12:07,427 --> 00:12:10,597 Hey! Hey! Hey! Hey! 324 00:12:10,597 --> 00:12:12,265 I think you want to partner with somebody 325 00:12:12,265 --> 00:12:13,366 who really wants to partner with you. 326 00:12:13,366 --> 00:12:14,601 He believed in us. 327 00:12:14,601 --> 00:12:16,302 And the fact that he just stayed there with us and he -- 328 00:12:16,302 --> 00:12:19,305 And, babe, you are so right about the words. 329 00:12:19,305 --> 00:12:21,608 That's who we are. Thank God we gave Robert that collection 330 00:12:21,608 --> 00:12:23,543 because had he not seen it, he would have maybe not 331 00:12:23,543 --> 00:12:25,278 really made the connection. Yeah. 332 00:12:25,278 --> 00:12:26,346 [ Screams ] 333 00:12:26,346 --> 00:12:29,115 We got a deal! We got a deal! 334 00:12:29,115 --> 00:12:31,985 [ Cheering ] 335 00:12:31,985 --> 00:12:33,186 [ Laughs ] 336 00:12:33,186 --> 00:12:35,421 ♪♪ 337 00:12:35,421 --> 00:12:37,657 Narrator: Last season, Heather Kelly came into the Tank 338 00:12:37,657 --> 00:12:40,660 with her gourmet camping meals company, Heather's Choice, 339 00:12:40,660 --> 00:12:43,663 and she revealed that her company was barely surviving. 340 00:12:43,663 --> 00:12:45,398 The reason I feel really beat up is 341 00:12:45,398 --> 00:12:47,300 I didn't make payroll yesterday. 342 00:12:47,300 --> 00:12:48,534 -[ Gasps ] -Ohh. -Ouch. 343 00:12:48,534 --> 00:12:50,436 Kelly: And if you were to look at our balance sheet, 344 00:12:50,436 --> 00:12:53,139 you'd be like, "How on God's green earth 345 00:12:53,139 --> 00:12:54,407 is this girl still alive?" 346 00:12:54,407 --> 00:12:56,509 Narrator: The Sharks gave her some stark advice. 347 00:12:56,509 --> 00:12:59,178 There are a huge market out there of other consumers 348 00:12:59,178 --> 00:13:00,480 who would love this food. 349 00:13:00,480 --> 00:13:01,714 I see somebody afraid to say yes. 350 00:13:01,714 --> 00:13:04,350 You have to make it yourself. You won't use a co-packer. 351 00:13:04,350 --> 00:13:05,685 You've got to get out of your own head. 352 00:13:05,685 --> 00:13:07,553 Heather left the Tank without a deal. 353 00:13:07,553 --> 00:13:09,555 Let's see how she's doing now. 354 00:13:09,555 --> 00:13:10,723 Kelly: When I walked into the Tank, 355 00:13:10,723 --> 00:13:12,725 I'd been running the business for nine years. 356 00:13:12,725 --> 00:13:16,329 I had about $5 million in lifetime revenue. 357 00:13:16,329 --> 00:13:18,498 I also had $1 million worth of debt, 358 00:13:18,498 --> 00:13:21,167 and I was completely out of cash. 359 00:13:21,167 --> 00:13:22,769 When I got my final no from the Sharks, 360 00:13:22,769 --> 00:13:26,406 I walked out of the Tank feeling like it was all over. 361 00:13:26,406 --> 00:13:29,442 I either have to decide this is the fate of the business, 362 00:13:29,442 --> 00:13:31,444 or I'm going to continue to fight. 363 00:13:31,444 --> 00:13:34,514 After our air date, I received outreach from the Sharks. 364 00:13:34,514 --> 00:13:36,482 I received a ton of feedback 365 00:13:36,482 --> 00:13:39,318 from our customers and "Shark Tank" viewers, 366 00:13:39,318 --> 00:13:41,421 and everybody said loud and clear, 367 00:13:41,421 --> 00:13:43,356 "Don't compromise the quality of your product 368 00:13:43,356 --> 00:13:44,657 and just keep going." 369 00:13:44,657 --> 00:13:46,592 This is why they pay us the big bucks. 370 00:13:46,592 --> 00:13:49,362 The really loud advice from the Sharks was 371 00:13:49,362 --> 00:13:51,898 whether feeding college students or busy moms, 372 00:13:51,898 --> 00:13:55,535 we would need to be selling to a much wider audience of people 373 00:13:55,535 --> 00:13:58,471 and finding fulfillment partners in the lower 48. 374 00:13:58,471 --> 00:14:00,773 With this move to a co-manufacturing model, 375 00:14:00,773 --> 00:14:04,510 we're able to essentially save tens of thousands of dollars 376 00:14:04,510 --> 00:14:07,647 every year just on freight to and from Alaska. 377 00:14:07,647 --> 00:14:09,549 We're expecting by the end of the year 378 00:14:09,549 --> 00:14:13,286 to have a co-packing partner, a 3PL, 379 00:14:13,286 --> 00:14:15,555 and to be fully set up in the lower 48 380 00:14:15,555 --> 00:14:17,590 so that Heather's Choice can take off. 381 00:14:17,590 --> 00:14:21,494 Since taking the Sharks' advice and expanding into new markets, 382 00:14:21,494 --> 00:14:23,730 we've done $1 million in revenue in the past seven months. 383 00:14:23,730 --> 00:14:26,499 We are slowly chipping away at our debt. 384 00:14:26,499 --> 00:14:28,401 We have cash in the bank, 385 00:14:28,401 --> 00:14:30,770 and the business is healthier than it's ever been. 386 00:14:30,770 --> 00:14:34,540 We are celebrating 10 years of Heather's Choice, 387 00:14:34,540 --> 00:14:39,412 and I could not possibly be more excited for the next decade. 388 00:14:39,412 --> 00:14:42,415 Going on "Shark Tank" was such an eye-opening moment 389 00:14:42,415 --> 00:14:45,551 for me of I wasn't thinking big enough, which is wild, 390 00:14:45,551 --> 00:14:47,920 and I also wasn't open to the possibility 391 00:14:47,920 --> 00:14:51,557 of Heather's Choice being more than a backpacking food brand. 392 00:14:51,557 --> 00:14:53,392 The Sharks were the catalyst 393 00:14:53,392 --> 00:14:55,828 that helped me break free of the one thing 394 00:14:55,828 --> 00:14:59,599 that was holding me back, and that was myself. 395 00:14:59,599 --> 00:15:02,435 The advice I would give to other entrepreneurs 396 00:15:02,435 --> 00:15:05,438 is to surround yourself with people like the Sharks, 397 00:15:05,438 --> 00:15:08,641 who are going to force you to think bigger 398 00:15:08,641 --> 00:15:12,311 and to be more audacious in the goals that you set. 399 00:15:12,311 --> 00:15:18,084 ♪♪ 400 00:15:20,319 --> 00:15:23,222 [ Waves crashing ] 401 00:15:23,222 --> 00:15:25,658 ♪♪ 402 00:15:25,658 --> 00:15:30,062 Narrator: Next up is a new take on a classic holiday tradition. 403 00:15:30,062 --> 00:15:34,066 ♪♪ 404 00:15:34,066 --> 00:15:35,201 Aww. 405 00:15:35,201 --> 00:15:40,773 ♪♪ 406 00:15:40,773 --> 00:15:43,409 Hello, Sharks. My name is Jenna Hess. 407 00:15:43,409 --> 00:15:44,811 I'm from Frisco, Texas, 408 00:15:44,811 --> 00:15:47,780 and I am the founder of Gnome Advent Calendar. 409 00:15:47,780 --> 00:15:53,786 I am seeking $45,000 in exchange for 10% of my company. 410 00:15:53,786 --> 00:15:57,557 Sharks, I am bringing the magic of the holiday season 411 00:15:57,557 --> 00:15:59,792 to life in a whole new way. 412 00:15:59,792 --> 00:16:02,995 Introducing the Gnome Advent Calendar, 413 00:16:02,995 --> 00:16:07,567 a whimsical and enchanting way to countdown to Christmas. 414 00:16:07,567 --> 00:16:10,803 Our beautiful advent calendars open up a magical portal 415 00:16:10,803 --> 00:16:13,673 revealing a gnome-filled world. 416 00:16:13,673 --> 00:16:18,244 Each day unveils a unique gnome, bringing joy and excitement 417 00:16:18,244 --> 00:16:20,546 to kids and adults alike. 418 00:16:20,546 --> 00:16:23,716 These gnomes are handcrafted with intricate detail 419 00:16:23,716 --> 00:16:26,686 and made from high-quality fabrics. 420 00:16:26,686 --> 00:16:29,922 Our designs are inspired by Scandinavian folklore, 421 00:16:29,922 --> 00:16:33,693 bringing a touch of charm and magic into your home. 422 00:16:33,693 --> 00:16:36,696 But we don't just bring gnomes into your homes 423 00:16:36,696 --> 00:16:37,964 during Christmas time. [ Chuckles ] 424 00:16:37,964 --> 00:16:41,734 Hess: We also offer advent calendars for other holidays, 425 00:16:41,734 --> 00:16:45,638 like Easter Bunny-approved daily gnomes for Easter 426 00:16:45,638 --> 00:16:51,644 and 14 adorable love-themed gnomes for Valentine's Day. 427 00:16:51,644 --> 00:16:53,546 And we can't forget about Halloween, 428 00:16:53,546 --> 00:16:57,516 where we got 31 days of spooky gnome fun. 429 00:16:57,516 --> 00:16:58,885 [ Laughter ] 430 00:16:58,885 --> 00:17:02,054 We are truly building holiday traditions 431 00:17:02,054 --> 00:17:05,858 that families can look forward to for years to come. 432 00:17:05,858 --> 00:17:11,097 The advent calendar market is a growing billion-dollar industry, 433 00:17:11,097 --> 00:17:16,536 with consumers looking for more unique and high-quality options. 434 00:17:16,536 --> 00:17:19,639 So, Sharks, who's ready to be my gnome-y 435 00:17:19,639 --> 00:17:22,742 and spread tradition and holiday cheer... [ Laughter ] 436 00:17:22,742 --> 00:17:24,644 ...one gnome at a time? 437 00:17:24,644 --> 00:17:25,811 Great line. Great line. 438 00:17:25,811 --> 00:17:27,480 Greiner: Very cute. Great line. 439 00:17:27,480 --> 00:17:29,849 You each have your own Gnome Advent Calendar. 440 00:17:29,849 --> 00:17:32,585 And thank you so much to my gnomies. 441 00:17:32,585 --> 00:17:34,754 Y'all can now go back and play in the garden. 442 00:17:34,754 --> 00:17:37,556 "My gnomies." Bye, gnomies! 443 00:17:37,556 --> 00:17:39,725 Hanging with my gnomies. 444 00:17:39,725 --> 00:17:41,661 They're very sizable gnomes. Hess: They are. 445 00:17:41,661 --> 00:17:44,630 Those are 12-inch gnomes in the Christmas calendar. 446 00:17:44,630 --> 00:17:46,732 Mr. Wonderful, I gave you the Halloween one. 447 00:17:46,732 --> 00:17:47,934 O'Leary: I saw that. I'm very -- 448 00:17:47,934 --> 00:17:50,636 I'm intrigued because you can't sell that in retail. 449 00:17:50,636 --> 00:17:51,737 It's too big, right? 450 00:17:51,737 --> 00:17:52,838 Right. I don't want to go to retail. 451 00:17:52,838 --> 00:17:55,408 Are you online only? Hess: Yes. 452 00:17:55,408 --> 00:17:56,809 How much is the Christmas one? 453 00:17:56,809 --> 00:17:59,712 Okay, so the Christmas I retail for $147. 454 00:17:59,712 --> 00:18:00,913 That's cheaper than I expected. John: This? 455 00:18:00,913 --> 00:18:02,915 That's way less than I thought, too. This? That's it? 456 00:18:02,915 --> 00:18:05,685 $147. What's it cost you to make? 457 00:18:05,685 --> 00:18:06,986 $47. Greiner: $47? 458 00:18:06,986 --> 00:18:10,790 This is a great value. And how many gnomes are in each calendar? 459 00:18:10,790 --> 00:18:12,725 So, the Christmas ones, there's 24. 460 00:18:12,725 --> 00:18:15,661 And, of course, the Halloween, there's 31 gnomes. 461 00:18:15,661 --> 00:18:16,862 How much is the Halloween one? 462 00:18:16,862 --> 00:18:19,865 So the Halloween one is $135, 463 00:18:19,865 --> 00:18:22,635 and that one was about $35 to make. 464 00:18:22,635 --> 00:18:25,538 It is a great price. No, it's too cheap. 465 00:18:25,538 --> 00:18:27,006 I'm glad y'all are saying that, 466 00:18:27,006 --> 00:18:30,876 because the average cost of a 12-inch gnome is $28. 467 00:18:30,876 --> 00:18:34,647 And when you get it in mine, it comes out to $6.12. 468 00:18:34,647 --> 00:18:36,682 Didn't we have somebody on that did gnomes? 469 00:18:36,682 --> 00:18:38,384 Wendy's Gnome Shop. 470 00:18:38,384 --> 00:18:39,452 Yeah. Doing great. 471 00:18:39,452 --> 00:18:40,853 Jenna, what are your sales? 472 00:18:40,853 --> 00:18:44,890 So, my lifetime sales right now are $160,000. 473 00:18:44,890 --> 00:18:46,792 I've only been in business for 18 months. 474 00:18:46,792 --> 00:18:49,628 Wow. And how do you sell it, Jenna? 475 00:18:49,628 --> 00:18:51,831 I have my own website and then TikTok Shop, 476 00:18:51,831 --> 00:18:53,799 which has been huge, you know, the past year. 477 00:18:53,799 --> 00:18:55,968 How do I even know about you, how do you find me, 478 00:18:55,968 --> 00:18:59,572 and how much money have you spent on advertising? 479 00:18:59,572 --> 00:19:00,840 I don't. I don't buy advertising. 480 00:19:00,840 --> 00:19:02,608 You don't spend any money on marketing? No. 481 00:19:02,608 --> 00:19:04,710 So where do you go looking for customers? 482 00:19:04,710 --> 00:19:08,547 I find influencers on TikTok. 483 00:19:08,547 --> 00:19:09,915 That are into gnomes, or into what? 484 00:19:09,915 --> 00:19:11,817 That have a lot of followers. 485 00:19:11,817 --> 00:19:14,086 I gift them a box. You gift it to them, right. 486 00:19:14,086 --> 00:19:15,821 And then you just ask them to show it. Right. Yes, and they show it, 487 00:19:15,821 --> 00:19:16,956 and their customers buy it. 488 00:19:16,956 --> 00:19:19,058 And, Jenna, tell us about you. 489 00:19:19,058 --> 00:19:21,994 I started in the health care business, 490 00:19:21,994 --> 00:19:24,030 and then I started to have my family, 491 00:19:24,030 --> 00:19:26,899 and I was a stay-at-home mom for about 10 years. 492 00:19:26,899 --> 00:19:29,835 And then once me and their father separated, 493 00:19:29,835 --> 00:19:31,871 it was time for me to get back to work, 494 00:19:31,871 --> 00:19:33,973 but I did not want to leave my kids. 495 00:19:33,973 --> 00:19:36,909 So I got into finding something to do 496 00:19:36,909 --> 00:19:39,945 that I could stay home and provide for my family. 497 00:19:39,945 --> 00:19:43,549 And I tried so many products to sell. 498 00:19:43,549 --> 00:19:44,917 Some were good, some are not. 499 00:19:44,917 --> 00:19:47,887 My best one was the advent calendar by far, 500 00:19:47,887 --> 00:19:51,824 and I also had access to a program 501 00:19:51,824 --> 00:19:55,094 and it showed what people were searching for on Amazon. 502 00:19:55,094 --> 00:19:58,631 The top searches. It was always gnomes. 503 00:19:58,631 --> 00:19:59,932 They were everywhere. 504 00:19:59,932 --> 00:20:01,934 What do you need from a Shark? 505 00:20:01,934 --> 00:20:04,170 I need your expertise. I need your guidance. 506 00:20:04,170 --> 00:20:07,706 This is my very first business I've been running by myself. 507 00:20:07,706 --> 00:20:10,543 I'm hoping to bring the price down even more 508 00:20:10,543 --> 00:20:11,811 if I could order more. 509 00:20:11,811 --> 00:20:13,712 Why do you think you need to bring the price down? 510 00:20:13,712 --> 00:20:15,481 'Cause the reaction from the three, four of us... 511 00:20:15,481 --> 00:20:16,982 You're not charging enough. 512 00:20:16,982 --> 00:20:18,751 ...was it's too cheap. Really? 513 00:20:18,751 --> 00:20:20,619 Yeah, that Christmas box should be like $399. 514 00:20:20,619 --> 00:20:22,088 Daymond and I thought it was $300. 515 00:20:22,088 --> 00:20:25,791 I think the ultimate set is they're alive. 516 00:20:25,791 --> 00:20:27,593 [ Laughter ] 517 00:20:27,593 --> 00:20:28,761 That would be nice. Yeah. 518 00:20:28,761 --> 00:20:30,596 They're called children. Yeah. 519 00:20:30,596 --> 00:20:31,864 See, I already have six children. 520 00:20:31,864 --> 00:20:32,932 Cuban: Six?! Six?! 521 00:20:32,932 --> 00:20:34,633 Six children?! Hess: I do. I do. 522 00:20:34,633 --> 00:20:35,835 I don't know if you need to go there. 523 00:20:35,835 --> 00:20:37,103 I mean, I think, honestly, 524 00:20:37,103 --> 00:20:39,004 when you came out and you told us the price, 525 00:20:39,004 --> 00:20:41,874 Daymond and I both thought it was gonna be $300. 526 00:20:41,874 --> 00:20:45,778 My twins will lose their mind when they see this. Yes. Yes. 527 00:20:45,778 --> 00:20:47,246 It's super exciting. Yes. 528 00:20:47,246 --> 00:20:50,416 You can grow this business to a few million dollars, 529 00:20:50,416 --> 00:20:51,617 I have no doubt. 530 00:20:51,617 --> 00:20:52,985 Keep doing what you're doing. Yes. 531 00:20:52,985 --> 00:20:57,790 But as an investor, though, as a Shark, I'm out. 532 00:20:57,790 --> 00:21:00,793 I think it's super cute. I love advent calendars. 533 00:21:00,793 --> 00:21:02,628 I don't really think you need my help. 534 00:21:02,628 --> 00:21:04,096 I will be a customer. 535 00:21:04,096 --> 00:21:06,699 I'll be waiting to see what advent calendars come out. 536 00:21:06,699 --> 00:21:08,601 I wish you good luck, but I'm out. 537 00:21:09,702 --> 00:21:11,704 This is a perfect example of a company 538 00:21:11,704 --> 00:21:13,105 that is great for an entrepreneur, 539 00:21:13,105 --> 00:21:15,141 because you can just grow it at your speed, 540 00:21:15,141 --> 00:21:17,877 which is important to you with your family, right? Yes. Yes. 541 00:21:17,877 --> 00:21:19,845 And when you take money from an investor, 542 00:21:19,845 --> 00:21:21,847 we want you to work at our speed, 543 00:21:21,847 --> 00:21:23,949 which is faster, faster, faster. 544 00:21:23,949 --> 00:21:26,118 The expectation is completely different. Yes. Sure. 545 00:21:26,118 --> 00:21:28,954 And so my only piece of advice is raise your prices. 546 00:21:28,954 --> 00:21:30,890 Congratulations. You've done amazing things. 547 00:21:30,890 --> 00:21:32,825 But for those reasons, I'm out. 548 00:21:32,825 --> 00:21:34,960 Thank you. 549 00:21:34,960 --> 00:21:38,097 So I had already made a deal with Wendy's Gnome Shop, 550 00:21:38,097 --> 00:21:40,132 so I have enough gnomies in my life. 551 00:21:40,132 --> 00:21:44,470 So I think I'm a little over-gnomed at the moment, 552 00:21:44,470 --> 00:21:45,738 so I'm out. 553 00:21:45,738 --> 00:21:47,106 Okay. Thank you. I appreciate that. 554 00:21:47,106 --> 00:21:48,874 O'Leary: Jenna, I think your heart's in the right place, 555 00:21:48,874 --> 00:21:50,142 and you certainly have achieved the freedom you pursued. 556 00:21:50,142 --> 00:21:52,812 That's the essence of entrepreneurship. 557 00:21:52,812 --> 00:21:54,079 But this sounds like it could get to 558 00:21:54,079 --> 00:21:56,348 maybe two or three million bucks a year. Yes. 559 00:21:56,348 --> 00:21:59,818 Although $3 million for you would be fantastic... Right. 560 00:21:59,818 --> 00:22:02,054 ...you'd be making about $1.2 million a year. 561 00:22:02,054 --> 00:22:05,124 Yes. So let the gnomes dance. 562 00:22:05,124 --> 00:22:07,059 [ Chuckles ] Okay. It's phenomenal. 563 00:22:07,059 --> 00:22:09,695 I wish you good luck, but I'm out. 564 00:22:09,695 --> 00:22:10,963 Alright. Thank you all so much. 565 00:22:10,963 --> 00:22:12,231 I really appreciate y'all's time. 566 00:22:12,231 --> 00:22:14,867 Congratulations on your success. Thank you. Thank y'all so much. 567 00:22:14,867 --> 00:22:16,135 You're going to be a millionaire from this. 568 00:22:16,135 --> 00:22:17,970 You are. Thank you. I love it so much. 569 00:22:17,970 --> 00:22:19,138 It's been so much fun. 570 00:22:19,138 --> 00:22:21,574 Thank you. Thank you very much. Appreciate it. 571 00:22:23,108 --> 00:22:25,844 For them to say that I could push this 572 00:22:25,844 --> 00:22:29,048 to a $3 million business was amazing feedback. 573 00:22:29,048 --> 00:22:31,116 The confidence that they gave me 574 00:22:31,116 --> 00:22:33,919 just makes me want to persevere even more. 575 00:22:33,919 --> 00:22:37,489 ♪♪ 576 00:22:40,492 --> 00:22:42,928 [ Waves crashing ] 577 00:22:42,928 --> 00:22:45,831 ♪♪ 578 00:22:45,831 --> 00:22:47,299 Narrator: Next up is a business designed 579 00:22:47,299 --> 00:22:50,903 to be a perfect side hustle for college students. 580 00:22:50,903 --> 00:22:56,642 ♪♪ 581 00:22:56,642 --> 00:23:02,047 ♪♪ 582 00:23:02,047 --> 00:23:03,949 Hey, Sharks, I'm Jake Piekarski 583 00:23:03,949 --> 00:23:05,284 from Huntington Beach, California. 584 00:23:05,284 --> 00:23:07,820 And I'm Philip Loveland from Libertyville, Illinois. 585 00:23:07,820 --> 00:23:09,054 I think it's safe to say 586 00:23:09,054 --> 00:23:10,890 that nobody wants to open their front door in the morning 587 00:23:10,890 --> 00:23:12,958 and see a pile of snow on their driveway. 588 00:23:12,958 --> 00:23:15,160 It's both frustrating and time-consuming 589 00:23:15,160 --> 00:23:16,929 having to remove all that snow. 590 00:23:16,929 --> 00:23:19,198 But college students have lots of free time. 591 00:23:19,198 --> 00:23:22,868 Of course, that's after going to class and studying. 592 00:23:22,868 --> 00:23:24,937 That's where we come in at Snow Scholars. 593 00:23:24,937 --> 00:23:26,972 Snow Scholars is a snow-removal business 594 00:23:26,972 --> 00:23:28,774 that employs college students. 595 00:23:28,774 --> 00:23:30,075 So when the snow falls like this... 596 00:23:30,075 --> 00:23:33,712 Ah! Ah! Oh, yeah. 597 00:23:33,712 --> 00:23:35,180 It's snowing! John: Wow. 598 00:23:35,180 --> 00:23:36,849 Piekarski: ...we make shoveling your own snow... 599 00:23:36,849 --> 00:23:37,983 Both: A thing of the past. 600 00:23:37,983 --> 00:23:40,853 We're one of the highest paying jobs on campus. 601 00:23:40,853 --> 00:23:42,254 So how does it work? 602 00:23:42,254 --> 00:23:44,123 Homeowners can sign up for a full-season plan 603 00:23:44,123 --> 00:23:46,191 or a vacation plan on our website. 604 00:23:46,191 --> 00:23:49,028 They can select the areas they would like to have shoveled, 605 00:23:49,028 --> 00:23:50,329 salted, or sanded. 606 00:23:50,329 --> 00:23:52,932 All of our plans include hand shoveling, 607 00:23:52,932 --> 00:23:55,000 free salting or sanding, and a knock on the door 608 00:23:55,000 --> 00:23:57,770 by a friendly college student. On a snow day, 609 00:23:57,770 --> 00:23:59,271 a Snow Scholar will receive a text 610 00:23:59,271 --> 00:24:01,807 to begin shoveling their assigned homes. 611 00:24:01,807 --> 00:24:04,243 They take before and after photos, 612 00:24:04,243 --> 00:24:06,912 which are then sent to our job reviewing team 613 00:24:06,912 --> 00:24:08,981 to maintain our five-star standards. 614 00:24:08,981 --> 00:24:10,082 Now, Sharks, we know 615 00:24:10,082 --> 00:24:12,051 money doesn't grow on trees, but for us... 616 00:24:12,051 --> 00:24:14,053 Both: It falls from the sky! [ Laughter ] 617 00:24:14,053 --> 00:24:18,791 We're seeking $75,000 snowflakes for 10% of Snow Scholars. 618 00:24:18,791 --> 00:24:19,992 So who's ready to join us 619 00:24:19,992 --> 00:24:22,061 as we continue snowballing our way to success 620 00:24:22,061 --> 00:24:23,962 across college campuses 621 00:24:23,962 --> 00:24:25,064 and help more students... 622 00:24:25,064 --> 00:24:27,399 Shovel student debt one inch at a time? 623 00:24:27,399 --> 00:24:30,069 O'Leary: Yeah. What campuses are you guys on? 624 00:24:30,069 --> 00:24:32,071 Yep. Right now we're on two college campuses 625 00:24:32,071 --> 00:24:33,238 at the University of Wisconsin-Madison 626 00:24:33,238 --> 00:24:35,240 and the University of Minnesota Twin Cities 627 00:24:35,240 --> 00:24:38,110 with plans for expanding to four more this year. 628 00:24:38,110 --> 00:24:40,179 So there's over 140 college campuses 629 00:24:40,179 --> 00:24:43,015 that this business can go to both in the US and Canada 630 00:24:43,015 --> 00:24:44,116 that fit our criteria. 631 00:24:44,116 --> 00:24:45,417 Jake, how does it work? 632 00:24:45,417 --> 00:24:47,419 How do you find clients? Just walk me through the process. 633 00:24:47,419 --> 00:24:49,321 The last year we did mostly just social media marketing. 634 00:24:49,321 --> 00:24:51,256 This next year we're partnering with campuses 635 00:24:51,256 --> 00:24:53,258 to get on their student job boards. 636 00:24:53,258 --> 00:24:56,095 So that's how you get the students, the shovelers. Yep. Correct. 637 00:24:56,095 --> 00:24:58,197 How do you get the homes? Yes. 638 00:24:58,197 --> 00:25:01,500 Yes, so we send out flyers to doors. 639 00:25:01,500 --> 00:25:04,336 We pay college students to distribute flyers for the season. 640 00:25:04,336 --> 00:25:06,905 You're doing physical flyers? Physical flyers. 641 00:25:06,905 --> 00:25:08,073 And how much is it? 642 00:25:08,073 --> 00:25:11,276 So our average cost per snowfall is $74.56. 643 00:25:11,276 --> 00:25:13,946 Regardless of how many inches? Regardless -- 644 00:25:13,946 --> 00:25:15,080 Yep. That's what customers love. 645 00:25:15,080 --> 00:25:17,216 That flat rate. Compared to our competitors, 646 00:25:17,216 --> 00:25:19,885 they can charge as much as $300 to remove snow. 647 00:25:19,885 --> 00:25:21,286 Your competitors local? What? 648 00:25:21,286 --> 00:25:24,123 Not for a single driveway. For a single driveway. 649 00:25:24,123 --> 00:25:25,290 Well, look, in Michigan, 650 00:25:25,290 --> 00:25:27,326 sometimes they have winters with no snow. 651 00:25:27,326 --> 00:25:29,261 Right. So what happens then? What about ice? 652 00:25:29,261 --> 00:25:32,264 Do you come and salt? So we dispatch at one inch of snow, 653 00:25:32,264 --> 00:25:34,767 which is very small. What about ice storms? 654 00:25:34,767 --> 00:25:36,135 Yes. So ice storms. 655 00:25:36,135 --> 00:25:39,204 Ultimately we do provide free salting and sanding... 656 00:25:39,204 --> 00:25:42,107 Whoa, what's this free stuff? 657 00:25:42,107 --> 00:25:44,076 So why do you do that for free? 658 00:25:44,076 --> 00:25:46,078 Ultimately, homeowners are tired of paying 659 00:25:46,078 --> 00:25:48,947 a ridiculous price with over $100 660 00:25:48,947 --> 00:25:50,482 to apply salt for one time. 661 00:25:50,482 --> 00:25:54,386 We do it for free, and even though we charge $74.56, 662 00:25:54,386 --> 00:25:58,056 we have a 73.3% net profit margin. 663 00:25:58,056 --> 00:25:59,224 Loveland: We have our whole team, 664 00:25:59,224 --> 00:26:02,027 and we have our design software that we use 665 00:26:02,027 --> 00:26:04,830 to make all the routes within three hours 666 00:26:04,830 --> 00:26:06,198 before the snowfall. 667 00:26:06,198 --> 00:26:08,333 And each shoveler gets roughly five to six homes. 668 00:26:08,333 --> 00:26:10,469 If they want more, we can give them more. If they want less... 669 00:26:10,469 --> 00:26:13,338 So you have software that does an optimization basically? Yes. Correct. 670 00:26:13,338 --> 00:26:16,241 Software you just -- you created, or...? 671 00:26:16,241 --> 00:26:18,277 We custom built our own software. 672 00:26:18,277 --> 00:26:21,180 The biggest reason why we did this is we want this business 673 00:26:21,180 --> 00:26:23,115 to be operated by very few people. 674 00:26:23,115 --> 00:26:24,850 We want it to be automated. 675 00:26:24,850 --> 00:26:26,185 What are your sales? 676 00:26:26,185 --> 00:26:29,088 So a snow season starts December 1 to April 1st, 677 00:26:29,088 --> 00:26:32,958 so this last snow season we did $116,800 in sales. 678 00:26:32,958 --> 00:26:35,427 Wow. And we profited $85,500... 679 00:26:35,427 --> 00:26:38,363 Whoa. That's... ...all while being able to generate $25 -- 680 00:26:38,363 --> 00:26:41,233 or pay students $25 an hour... Good for you. 681 00:26:41,233 --> 00:26:43,335 ...which is the highest paying job on campus. That's amazing. 682 00:26:43,335 --> 00:26:45,270 They'll make about $185 a day. 683 00:26:45,270 --> 00:26:47,172 Is it just you two guys? 684 00:26:47,172 --> 00:26:49,141 It's just us two. Are you 50/50 partners? 685 00:26:49,141 --> 00:26:50,442 So I own 100% of the business, 686 00:26:50,442 --> 00:26:52,244 but Philip has put in more -- Greiner: You do? 687 00:26:52,244 --> 00:26:54,346 Yes, but Philip has put in -- Philip, how'd you let that happen? 688 00:26:54,346 --> 00:26:56,615 Oh, I have a sweat equity deal. Oh, there you go. Okay. 689 00:26:56,615 --> 00:26:59,651 So eventually, once we get to $270,000, I get 30% of it. 690 00:26:59,651 --> 00:27:02,087 Oh, there you go. Good for you. So, let's go back to you. 691 00:27:02,087 --> 00:27:04,389 Kevin, don't speak. Let's go back to you. 692 00:27:04,389 --> 00:27:06,525 Tell us about you, how you came up with this. 693 00:27:06,525 --> 00:27:09,361 So we both just graduated from the University of Wisconsin 694 00:27:09,361 --> 00:27:11,330 with management and entrepreneurship degrees. 695 00:27:11,330 --> 00:27:13,398 Philip also has a psychology degree. Yeah. 696 00:27:13,398 --> 00:27:15,434 Ultimately, I've always hustled. 697 00:27:15,434 --> 00:27:16,602 I actually grew up playing ice hockey. 698 00:27:16,602 --> 00:27:19,171 To pay for my hockey equipment, to help my parents out, 699 00:27:19,171 --> 00:27:22,941 I would buy 100 rolls of hockey tape from China for $100, 700 00:27:22,941 --> 00:27:25,177 sit at hockey arenas on weekends, 701 00:27:25,177 --> 00:27:27,479 and sell them all out for five bucks a roll. 702 00:27:27,479 --> 00:27:30,349 And that's how I would pay for all of my hockey equipment. Ah, that's good. 703 00:27:30,349 --> 00:27:32,384 And during my junior year, that's when actually 704 00:27:32,384 --> 00:27:34,620 I met him at a company I was interning for. 705 00:27:34,620 --> 00:27:36,822 You may recognize it. It's called Storage Scholars. 706 00:27:36,822 --> 00:27:39,525 I know a little bit about those guys. I know. I think you might have. 707 00:27:39,525 --> 00:27:43,428 And what is that? Storage Scholars is a company that came on "Shark Tank" 708 00:27:43,428 --> 00:27:45,564 that I invested in that's crushing it. 709 00:27:45,564 --> 00:27:48,500 And they organize move-in and move-out. 710 00:27:48,500 --> 00:27:50,502 Oh, that's right. Oh, that's right. 711 00:27:50,502 --> 00:27:52,471 I thought that was very smart. John: That was two years ago. Or one year ago, right? 712 00:27:52,471 --> 00:27:54,306 Guys, you know, I grew up in Boston. 713 00:27:54,306 --> 00:27:55,507 We have nor'easters. 714 00:27:55,507 --> 00:27:57,376 It's the worst winter money can buy. Freezing. 715 00:27:57,376 --> 00:28:01,246 And I swore to myself years ago, I hate winter. 716 00:28:01,246 --> 00:28:04,316 And I finally made it to Miami where I spend all winters. 717 00:28:04,316 --> 00:28:06,184 I'm never going to deal with snow again. Yep. 718 00:28:06,184 --> 00:28:08,153 But I'm romantically involved in it. 719 00:28:08,153 --> 00:28:10,055 I like to look at pictures of snow 720 00:28:10,055 --> 00:28:11,356 while I'm sitting on the beach. 721 00:28:11,356 --> 00:28:12,724 That's fantastic. I like your deal. 722 00:28:12,724 --> 00:28:15,527 I like you guys. I'm going to make you an offer. That's awesome. 723 00:28:15,527 --> 00:28:18,730 I'm going to give you $75,000 for 20%. 724 00:28:19,398 --> 00:28:21,466 Hey, Kevin, I'd love to defend that valuation. 725 00:28:21,466 --> 00:28:24,303 So, it's -- [ Laughter ] 726 00:28:24,303 --> 00:28:26,038 Don't even bother. 727 00:28:26,038 --> 00:28:27,272 It's really -- 728 00:28:27,272 --> 00:28:29,374 So this business started November 2022. 729 00:28:29,374 --> 00:28:33,011 We had $18,000 in sales in that first snow season 730 00:28:33,011 --> 00:28:34,279 with $13,000 in profit. 731 00:28:34,279 --> 00:28:36,682 This next year, we were able to maintain those profit margins. 732 00:28:36,682 --> 00:28:40,385 But it's very hard to value a business at early stage, 733 00:28:40,385 --> 00:28:42,254 but I will give you the facts. 734 00:28:42,254 --> 00:28:45,023 So ultimately we grew from -- 735 00:28:45,023 --> 00:28:46,325 What, are we in class here? 736 00:28:46,325 --> 00:28:47,559 Greiner: I like it. Apparently. 737 00:28:47,559 --> 00:28:51,530 So we grew from 34 customers to 353 customers 738 00:28:51,530 --> 00:28:54,700 with the opportunity to go to 700 customers. 739 00:28:54,700 --> 00:28:59,204 Our customer acquisition cost is $7.08, and for each customer, 740 00:28:59,204 --> 00:29:01,573 they spend $814 a year on us. 741 00:29:01,573 --> 00:29:03,308 Well, I like that you know your numbers. 742 00:29:03,308 --> 00:29:05,777 I started off doing this exact thing... Yeah. 743 00:29:05,777 --> 00:29:09,147 ...because in the hood it was, as soon as the snow fell, 744 00:29:09,147 --> 00:29:11,149 that's a day off and I can make money. 745 00:29:11,149 --> 00:29:12,384 Yeah. So what I decided to do 746 00:29:12,384 --> 00:29:14,720 was charge all the customers around $10. 747 00:29:14,720 --> 00:29:18,190 And I realized after about 30 houses that I can sit home 748 00:29:18,190 --> 00:29:19,725 and give my friends $4 a driveway, 749 00:29:19,725 --> 00:29:22,127 and I would sit home and do that. Exactly. Exactly. 750 00:29:22,127 --> 00:29:24,563 So I really know this business. 751 00:29:24,563 --> 00:29:28,266 I'm gonna match Kevin's offer, $75,000 for 20%. 752 00:29:28,266 --> 00:29:30,335 Thank you, Daymond. I was gonna go 25%, 753 00:29:30,335 --> 00:29:32,604 but if Kevin wants 20%, then I have to go 20%. 754 00:29:32,604 --> 00:29:34,806 20% is very reasonable, you know? 755 00:29:34,806 --> 00:29:37,609 You remind me of the guys I actually teach in school. Greiner: Listen, let me tell you what I think. 756 00:29:37,609 --> 00:29:42,280 First of all, I think you guys are fantastic, I really do. Thank you. 757 00:29:42,280 --> 00:29:45,317 I just -- I'm not even sure why you need my help, 758 00:29:45,317 --> 00:29:47,419 because I think you're doing everything right. 759 00:29:47,419 --> 00:29:51,323 I'm sorry. I'm out. Yes. 760 00:29:51,323 --> 00:29:53,325 I think you're going to struggle to make it scale. 761 00:29:53,325 --> 00:29:57,429 The variance of snowfall and the peak in demand 762 00:29:57,429 --> 00:29:59,698 is going to be really, really hard. 763 00:29:59,698 --> 00:30:03,468 I can't see this business scaling on the large scale. 764 00:30:03,468 --> 00:30:05,504 I'm out. It's not for me. Okay. Thank you, Robert. 765 00:30:05,504 --> 00:30:09,141 So I've driven to over half of these college campuses. You have two offers. 766 00:30:09,141 --> 00:30:11,009 We do, we do. 767 00:30:12,210 --> 00:30:14,346 Guys, I'll give you $150,000 for 20%. 768 00:30:14,346 --> 00:30:16,515 ♪♪ 769 00:30:16,515 --> 00:30:18,283 Mark, we'll take your deal. Done. 770 00:30:18,283 --> 00:30:20,318 Ha! Oh! Thank you. 771 00:30:20,318 --> 00:30:22,254 So, guys, what are you going to do? 772 00:30:22,254 --> 00:30:23,455 Thank you, Mark. Cuban: There you go. 773 00:30:23,455 --> 00:30:25,557 Bring it in. Bring it in. Bring it in, baby. 774 00:30:25,557 --> 00:30:28,393 Thank you. Thank you. You guys already know from Storage Scholars 775 00:30:28,393 --> 00:30:29,695 the challenges you're going to face. 776 00:30:29,695 --> 00:30:31,363 Done. Appreciate it, guys. Thank you so much. 777 00:30:31,363 --> 00:30:32,364 Thank you very much. Thanks, guys. I appreciate it. 778 00:30:32,364 --> 00:30:33,432 Congrats, guys. 779 00:30:33,432 --> 00:30:34,433 Piekarski: Thank you for your offers. 780 00:30:34,433 --> 00:30:36,334 I hope it never snows again. 781 00:30:36,334 --> 00:30:37,569 [ Laughter ] 782 00:30:37,569 --> 00:30:39,371 Data over 10 years will show us. 783 00:30:39,371 --> 00:30:41,873 Thank you! Bye-bye. See you! 784 00:30:43,108 --> 00:30:44,376 Both: Whoo! 785 00:30:44,376 --> 00:30:47,245 Deal with Mark. Whoo! Hey! 786 00:30:47,245 --> 00:30:48,613 On to Wisconsin. 787 00:30:48,613 --> 00:30:51,483 Mark was our target Shark because he ultimately had, 788 00:30:51,483 --> 00:30:54,219 you know, a huge background in technology, 789 00:30:54,219 --> 00:30:55,721 he's got credibility as a name, 790 00:30:55,721 --> 00:30:58,356 and he has experience with another college student owned 791 00:30:58,356 --> 00:30:59,791 and operated company, 792 00:30:59,791 --> 00:31:01,426 which we are looking so forward to working with. 793 00:31:01,426 --> 00:31:04,229 Whoo! Let's go. Yay! 794 00:31:04,229 --> 00:31:07,065 This is very exciting. Whoo! 795 00:31:10,202 --> 00:31:12,704 [ Waves crashing ] 796 00:31:12,704 --> 00:31:17,175 Narrator: Next up is a fun way to bear the cold. 797 00:31:19,010 --> 00:31:20,378 Oh. Uh-oh. 798 00:31:20,378 --> 00:31:22,347 [ Beat boxing ] 799 00:31:22,347 --> 00:31:25,250 [ Laughter ] 800 00:31:25,250 --> 00:31:27,552 ♪♪ 801 00:31:27,552 --> 00:31:29,888 O'Leary: Oh! Oh. 802 00:31:30,355 --> 00:31:32,357 [ Laughter ] 803 00:31:33,392 --> 00:31:35,694 Hello, Sharks. I'm Carlo from Boulder, Colorado. 804 00:31:35,694 --> 00:31:37,596 I'm the Papa Bear of Wildcoat, 805 00:31:37,596 --> 00:31:39,531 and I make the most fun coats in the world. 806 00:31:39,531 --> 00:31:42,300 [ Cheering ] Whoo! 807 00:31:42,300 --> 00:31:44,503 Today, I'm seeking a $350,000 investment 808 00:31:44,503 --> 00:31:47,572 for 10% equity in my company, Wildcoat. 809 00:31:47,572 --> 00:31:50,776 Mm-hmm. Sharks, I don't know if you've gone skiing lately, 810 00:31:50,776 --> 00:31:53,345 but the outfit options are monochromatic, 811 00:31:53,345 --> 00:31:56,248 repetitive, and, frankly, downright... 812 00:31:56,248 --> 00:31:57,649 boring! 813 00:31:57,649 --> 00:32:01,286 I'm determined to bring back the silly side of snow sports, 814 00:32:01,286 --> 00:32:03,155 which is why I created Wildcoat. 815 00:32:03,155 --> 00:32:04,389 [ Laughter ] 816 00:32:04,389 --> 00:32:05,791 Aside from looking ferocious, 817 00:32:05,791 --> 00:32:07,692 these babies are high-performance winter coats. 818 00:32:07,692 --> 00:32:10,262 They've got seven oversized pockets 819 00:32:10,262 --> 00:32:11,630 for all your snacks and gear. 820 00:32:11,630 --> 00:32:14,633 An adjustable hood fits over a helmet, a hat, 821 00:32:14,633 --> 00:32:17,135 or your bear head. 822 00:32:17,135 --> 00:32:17,869 [ Chuckles ] 823 00:32:17,869 --> 00:32:20,572 Magnetic storm flap and magnetic mitt attachments 824 00:32:20,572 --> 00:32:22,541 so you can flip the claws back. 825 00:32:22,541 --> 00:32:25,477 And they're modular, so you can fully detach the hood, 826 00:32:25,477 --> 00:32:27,446 sleeves, and mitts. 827 00:32:27,446 --> 00:32:29,247 Not to mention they have a temperature rating 828 00:32:29,247 --> 00:32:30,415 to rival a real bear. 829 00:32:30,415 --> 00:32:33,485 [ Roaring ] [ Chuckles ] 830 00:32:33,485 --> 00:32:35,387 Sharks, let's make the world a more fun place 831 00:32:35,387 --> 00:32:36,655 one Wildcoat at a time. 832 00:32:36,655 --> 00:32:38,590 Who wants to join us at the après? 833 00:32:38,590 --> 00:32:41,693 [ Cheering ] Yeah. Alright. Alright. 834 00:32:41,693 --> 00:32:43,728 Good job. Each of you has a Wildcoat 835 00:32:43,728 --> 00:32:45,464 in front of you there if you want to check it out, 836 00:32:45,464 --> 00:32:46,631 try it on if you want. 837 00:32:46,631 --> 00:32:49,734 We definitely do. Oh, it's cool. 838 00:32:49,734 --> 00:32:52,504 Wow. Look at that thing. Oh, my gosh. It's heavy. 839 00:32:52,504 --> 00:32:53,905 They're heavy duty. Yeah. 840 00:32:53,905 --> 00:32:55,807 They really are the warmest coat you've ever worn. 841 00:32:55,807 --> 00:32:58,577 How cool are these? They're a good time. 842 00:32:58,577 --> 00:33:01,279 Greiner: This is really fun. So, we've got a polar, 843 00:33:01,279 --> 00:33:03,448 a panda, a wolf, 844 00:33:03,448 --> 00:33:06,985 a grizzly, and a buffalo. 845 00:33:08,353 --> 00:33:12,057 [ Roars ] Lori! Aah! [ Laughs ] 846 00:33:12,057 --> 00:33:15,527 So, were any animals harmed in the making of these coats? 847 00:33:15,527 --> 00:33:16,995 None. So they're all faux fur. 848 00:33:16,995 --> 00:33:19,798 Faux fur, but they have the warmth of... These are great. They feel amazing. 849 00:33:19,798 --> 00:33:21,733 They feel they have the warmth of a real fur. Of a real fur, yeah. 850 00:33:21,733 --> 00:33:23,768 They don't feel real heavy, but they're that warm. 851 00:33:23,768 --> 00:33:25,704 So that's -- Part of it was I designed them -- 852 00:33:25,704 --> 00:33:27,439 So I've been skiing for 32 years, 853 00:33:27,439 --> 00:33:29,708 and in order to make it an everyday ski coat, 854 00:33:29,708 --> 00:33:32,611 it has to fit well and have all the features. 855 00:33:32,611 --> 00:33:33,745 How much is the coat? 856 00:33:33,745 --> 00:33:35,714 $449. Well, that's not bad. 857 00:33:35,714 --> 00:33:37,782 Yeah, it's like a -- very much like a mid-tier pricing 858 00:33:37,782 --> 00:33:40,685 for a quality ski coat. $449 for any style? 859 00:33:40,685 --> 00:33:42,621 $449 across the board, yep. 860 00:33:42,621 --> 00:33:44,823 And we get them landed anywhere $120 to $130. 861 00:33:44,823 --> 00:33:47,425 Where are you selling them at and how you marketing them? 862 00:33:47,425 --> 00:33:48,727 All online. So all in our own shop. 863 00:33:48,727 --> 00:33:52,297 Good. Marketing, we've done a lot on basically paid ads. 864 00:33:52,297 --> 00:33:53,732 But then this last year 865 00:33:53,732 --> 00:33:55,934 we focused more on in-person events. 866 00:33:55,934 --> 00:33:59,371 We did a Bears game, a Bills game, X-Games, 867 00:33:59,371 --> 00:34:00,639 and then two other ski events. 868 00:34:00,639 --> 00:34:02,407 The week following those events, 869 00:34:02,407 --> 00:34:03,909 we saw a 50% to 70% jump in sales. 870 00:34:03,909 --> 00:34:06,645 I think those events are how you sell something like this. Huge. 871 00:34:06,645 --> 00:34:07,879 And that's how the whole company started. 872 00:34:07,879 --> 00:34:10,582 So eight years ago, I got this bear costume for Christmas 873 00:34:10,582 --> 00:34:12,617 for my family because there's two things I love -- 874 00:34:12,617 --> 00:34:14,719 skiing a bunch and being a little silly. 875 00:34:14,719 --> 00:34:17,622 So obviously I made it my everyday ski coat, 876 00:34:17,622 --> 00:34:19,524 even though it was very much a costume. 877 00:34:19,524 --> 00:34:21,760 It was not warm, no pockets, no zipper, 878 00:34:21,760 --> 00:34:23,662 and it had like a foam molded head, 879 00:34:23,662 --> 00:34:25,063 so I couldn't even wear it over a helmet. 880 00:34:25,063 --> 00:34:27,732 But I still skied in it every day because it was a great time. 881 00:34:27,732 --> 00:34:30,568 And you talk to everybody -- on the chair, middle of a run, 882 00:34:30,568 --> 00:34:32,470 people stop you asking for pictures. 883 00:34:32,470 --> 00:34:33,905 So my business partner and I, 884 00:34:33,905 --> 00:34:35,774 we skied together and we knew we were on to something. 885 00:34:35,774 --> 00:34:38,710 What business were you in? Are you a clothing guy? No. 886 00:34:38,710 --> 00:34:40,879 So actually, I went to school for engineering, and then I -- 887 00:34:40,879 --> 00:34:42,614 And look what happened to you. 888 00:34:42,614 --> 00:34:44,683 Right? [ Chuckles ] My parents are very proud now. 889 00:34:44,683 --> 00:34:47,552 Okay, what were the numbers? 890 00:34:47,552 --> 00:34:49,754 So in 2021, we did 135K. 891 00:34:49,754 --> 00:34:51,756 Year two we did $375,000, 892 00:34:51,756 --> 00:34:52,958 and then last year we did $505,000. 893 00:34:52,958 --> 00:34:54,759 And this year -- And all you were doing 894 00:34:54,759 --> 00:34:57,963 was going to a few games and to the slopes? 895 00:34:57,963 --> 00:35:01,800 DiMeo: Yep. So this year I'm confident we're gonna hit 700K. 896 00:35:01,800 --> 00:35:03,969 Why isn't it scaling faster, Carlo? 897 00:35:03,969 --> 00:35:07,472 Because I look at it and I'm like, "Wow, 898 00:35:07,472 --> 00:35:08,773 this is very cool." This is fun. Yeah. 899 00:35:08,773 --> 00:35:09,975 It's fun. Sure. 900 00:35:09,975 --> 00:35:11,943 I have a lot of experience with this. Totally. 901 00:35:11,943 --> 00:35:15,647 I disagree with you there isn't fun ski wear. 902 00:35:15,647 --> 00:35:17,916 Look at Tipsy Elves. They're also fun. 903 00:35:17,916 --> 00:35:21,987 30% of our revenue now is those cool neon ski outfits. Yeah. 904 00:35:21,987 --> 00:35:24,789 You know how we did it? Having people ski in them. 905 00:35:24,789 --> 00:35:27,492 Sure. So this past year is when we really focused 906 00:35:27,492 --> 00:35:29,027 on more in-person selling. 907 00:35:29,027 --> 00:35:33,898 And in terms of our ad spend in 2022, we went big on Meta. 908 00:35:33,898 --> 00:35:35,900 And so what did that cost you to acquire a customer? 909 00:35:35,900 --> 00:35:38,570 'Cause you got $300 of margin to play with. 910 00:35:38,570 --> 00:35:40,805 So in 2022, it was $150 for paid ads. 911 00:35:40,805 --> 00:35:43,408 Ouch! Ouch. Ouch. Which was way too high. 912 00:35:43,408 --> 00:35:44,809 Wow! So last year, 913 00:35:44,809 --> 00:35:48,580 we really diversified our marketing efforts. 914 00:35:48,580 --> 00:35:50,548 Okay. How much is your inventory right now? 915 00:35:50,548 --> 00:35:51,816 So right now we have 1,200 coats. 916 00:35:51,816 --> 00:35:54,619 But what's the dollar amount? About $500,000. 917 00:35:54,619 --> 00:35:56,755 At your cost? Oh, that's a lot! 918 00:35:56,755 --> 00:35:58,723 At my cost, about $150,000. 919 00:35:58,723 --> 00:36:00,725 So can you tell me what you think you'd make on this 920 00:36:00,725 --> 00:36:02,627 700-plus thousand in sales this year? 921 00:36:02,627 --> 00:36:04,763 Sure. So this past year, 922 00:36:04,763 --> 00:36:07,732 we basically broke even because we went so big on inventory. 923 00:36:07,732 --> 00:36:09,000 Okay, well, here's a problem. 924 00:36:09,000 --> 00:36:11,836 You're valuing your business at 10% for $350,000, 925 00:36:11,836 --> 00:36:14,706 $3.5 million imputed value. 926 00:36:14,706 --> 00:36:16,841 You make no free cash if you broke even. 927 00:36:16,841 --> 00:36:20,412 But there's no way this business is worth 3.5 million bucks. 928 00:36:20,412 --> 00:36:21,713 It's impossible. 929 00:36:21,713 --> 00:36:24,049 I love the product, but I'm out. 930 00:36:24,049 --> 00:36:27,052 Okay. How much cash have you put into the business? 931 00:36:27,052 --> 00:36:30,722 So total, we've put 285K into the business. 932 00:36:30,722 --> 00:36:32,724 Of your own money? I did 25K, 933 00:36:32,724 --> 00:36:33,958 then my business partner did the other 260K. 934 00:36:33,958 --> 00:36:36,594 And how much do you own, and how much does he own? 935 00:36:36,594 --> 00:36:37,862 I'm 65%. He's 35%. 936 00:36:37,862 --> 00:36:39,964 So, Carlo, I think it's super fun. 937 00:36:39,964 --> 00:36:42,901 I really love it. I definitely want the wolf. 938 00:36:42,901 --> 00:36:45,003 Love it. I think it's very cute. 939 00:36:45,003 --> 00:36:48,573 It's a niche market. I'm definitely gonna buy one. 940 00:36:48,573 --> 00:36:50,008 I wish you good luck, but I'm out. 941 00:36:50,008 --> 00:36:51,843 Thank you. Cuban: Yeah, Carlo, I'm along the same lines. 942 00:36:51,843 --> 00:36:54,846 It's very niche. I don't think you need to spend money on Meta 943 00:36:54,846 --> 00:36:56,014 or any advertising. 944 00:36:56,014 --> 00:36:57,849 You should be all social media. 945 00:36:57,849 --> 00:36:59,718 But I also think you need to raise your prices 946 00:36:59,718 --> 00:37:01,886 because this is not a price-sensitive item. 947 00:37:01,886 --> 00:37:04,956 This is a fashion statement. This is a branding event, right? 948 00:37:04,956 --> 00:37:06,991 When you wear this, you are branding yourself 949 00:37:06,991 --> 00:37:09,027 on the slopes or at a game. 950 00:37:09,027 --> 00:37:11,696 You are saying, "Look at me." 951 00:37:11,696 --> 00:37:13,898 People will pay any price for that, 952 00:37:13,898 --> 00:37:15,066 but I don't see it as investable. 953 00:37:15,066 --> 00:37:17,602 So for those reasons, I'm out. 954 00:37:17,602 --> 00:37:19,971 So, I love it. 955 00:37:19,971 --> 00:37:24,642 You sold $1.2 million, but you have $500,000 in inventory, 956 00:37:24,642 --> 00:37:25,643 which you haven't moved. 957 00:37:25,643 --> 00:37:27,579 That's 1,200 units. 958 00:37:27,579 --> 00:37:28,947 So I can give you an offer, 959 00:37:28,947 --> 00:37:31,883 but it's really for me to come in 960 00:37:31,883 --> 00:37:34,986 and get you more homed-in on what you're doing, 961 00:37:34,986 --> 00:37:36,855 and then license different categories 962 00:37:36,855 --> 00:37:39,791 so you could take up more of the space, right? 963 00:37:39,791 --> 00:37:42,894 Okay. Gloves, everything else. 964 00:37:42,894 --> 00:37:45,730 So I'll give you the $350,000. 965 00:37:45,730 --> 00:37:49,667 You asked for 10%. I'll give it to you for 30%. 966 00:37:49,667 --> 00:37:51,770 [ Roars ] He's a real bear. 967 00:37:51,770 --> 00:37:53,071 Greiner: I don't think that's bad, actually. 968 00:37:53,071 --> 00:37:54,739 Wow, that's a grizzly offer right. 969 00:37:54,739 --> 00:37:56,941 So, Carlo, I, with all due respect to Daymond, 970 00:37:56,941 --> 00:38:00,011 he may be the FUBU godfather, 971 00:38:00,011 --> 00:38:03,715 but on "Shark Tank," I am the Papa Bear of clothing. 972 00:38:03,715 --> 00:38:07,352 ♪♪ 973 00:38:10,655 --> 00:38:13,091 [ Waves crashing ] 974 00:38:13,091 --> 00:38:15,794 Narrator: Three Sharks are out. 975 00:38:15,794 --> 00:38:18,096 Carlo has one offer on the table from Daymond 976 00:38:18,096 --> 00:38:21,132 for his novelty ski jacket company, Wildcoat, 977 00:38:21,132 --> 00:38:24,002 but Robert also seems interested. 978 00:38:24,002 --> 00:38:27,872 Herjavec: I know this space. There's a lot of work with this. Sure. 979 00:38:27,872 --> 00:38:30,108 It should be bigger, but you've got to go now. 980 00:38:30,108 --> 00:38:32,076 You know what happened to us at Tipsy Elves? 981 00:38:32,076 --> 00:38:33,711 Everybody knocked us off. 982 00:38:33,711 --> 00:38:35,613 You know what our best protection was? 983 00:38:35,613 --> 00:38:36,681 Getting bigger. 984 00:38:36,681 --> 00:38:37,849 You know what we said? 985 00:38:37,849 --> 00:38:39,951 We're just going to make a really big company 986 00:38:39,951 --> 00:38:41,052 and become a brand. 987 00:38:41,052 --> 00:38:43,721 You got to become the Wildcoat brand. 988 00:38:43,721 --> 00:38:44,989 Here's my offer for you. 989 00:38:44,989 --> 00:38:47,959 $350,000, 25%. 990 00:38:47,959 --> 00:38:50,028 That's my offer. 991 00:38:50,028 --> 00:38:51,763 O'Leary: $350,000. 992 00:38:51,763 --> 00:38:52,931 Daymond wants 30%, 993 00:38:52,931 --> 00:38:55,200 and Robert will do it for 25%, 5% down. 994 00:38:55,200 --> 00:38:57,168 I would join Robert with licens-- I wouldn't license it. 995 00:38:57,168 --> 00:38:59,637 Yeah, that's the problem. Not today. 996 00:38:59,637 --> 00:39:00,805 I'm looking at scalability. 997 00:39:00,805 --> 00:39:03,241 I mean... Don't cheapen the brand. 998 00:39:03,241 --> 00:39:06,344 That's the one thing I've learned out of all these years 999 00:39:06,344 --> 00:39:10,081 is you got to build the brand if you want to scale the business. 1000 00:39:10,081 --> 00:39:13,885 I was selling at 1.10 million pairs of jeans a year. 1001 00:39:13,885 --> 00:39:15,220 You want to get to that level. 1002 00:39:15,220 --> 00:39:18,223 The difference of what Robert is saying of cheapen the brand, 1003 00:39:18,223 --> 00:39:20,291 you can cheapen that brand if you get it out, 1004 00:39:20,291 --> 00:39:22,260 because you know what it is when you get it through those doors? 1005 00:39:22,260 --> 00:39:24,963 It's more people on the mountain to pay for it. Greiner: Right. 1006 00:39:24,963 --> 00:39:26,164 That is true. It's a difference of paying -- 1007 00:39:26,164 --> 00:39:28,166 At a discounted price. No, it doesn't matter. 1008 00:39:28,166 --> 00:39:30,835 Well, nobody knows that. They just see it everywhere. Nobody knows that. 1009 00:39:30,835 --> 00:39:33,271 Nobody knows, and that's the difference of that. 1010 00:39:33,271 --> 00:39:36,241 Carlo, what do you want to do? What are you thinking? 1011 00:39:36,241 --> 00:39:40,878 Well, I'm thinking that 25%, 30% is a little high based on 1012 00:39:40,878 --> 00:39:42,847 where I know we can take -- You can counter. 1013 00:39:42,847 --> 00:39:44,649 Would you do 15%? 1014 00:39:46,751 --> 00:39:48,353 No. No. 1015 00:39:48,353 --> 00:39:50,955 Okay. So what do you want to do? They're stuck. 1016 00:39:50,955 --> 00:39:53,024 It's a lot of dough. The $350,000 is a lot of dough. 1017 00:39:53,024 --> 00:39:55,226 It's a lot of dough. Carlo, I know it's a lot of dough, 1018 00:39:55,226 --> 00:39:58,930 and I know it seems like a low valuation to you. 1019 00:39:58,930 --> 00:40:01,032 I just know the problems. 1020 00:40:01,032 --> 00:40:02,734 Would you do 20%? 1021 00:40:02,734 --> 00:40:04,502 I wouldn't do 20%. 1022 00:40:04,502 --> 00:40:06,871 ♪♪ 1023 00:40:06,871 --> 00:40:08,006 Would you do 23%? 1024 00:40:08,006 --> 00:40:09,941 Because I'd like to keep at least 50% 1025 00:40:09,941 --> 00:40:11,809 of the company for myself. 1026 00:40:11,809 --> 00:40:13,745 That'll keep me at 50. 1027 00:40:13,745 --> 00:40:15,914 ♪♪ 1028 00:40:15,914 --> 00:40:18,049 I'll do 23%. Yeah, I'll do 23%. 1029 00:40:18,049 --> 00:40:20,285 Great. Ooh! You have both Sharks. 1030 00:40:20,285 --> 00:40:23,054 Right now. I will do 23%, 'cause that's a reasonable ask 1031 00:40:23,054 --> 00:40:25,023 and I want you to keep 50%. 1032 00:40:25,023 --> 00:40:29,394 Carlo, look, there are a lot of ugly Christmas sweaters. 1033 00:40:29,394 --> 00:40:32,230 Yeah. But there's only one Tipsy Elves, my friend. 1034 00:40:32,230 --> 00:40:35,199 Oh, okay. Alright, enough with the Tipsy E-- Enough of that. 1035 00:40:35,199 --> 00:40:37,035 There's a lot of clothing brands, 1036 00:40:37,035 --> 00:40:38,803 but there's only one Coogi, FUBU, Bombas socks, 1037 00:40:38,803 --> 00:40:40,371 Heatherette. That's true. You're right. 1038 00:40:40,371 --> 00:40:43,107 So I've been doing this for quite some time. What are you, a mass-buy clothing brand, 1039 00:40:43,107 --> 00:40:45,877 or are you a specialty ski -- 1040 00:40:45,877 --> 00:40:47,679 You got to figure out what you are. 1041 00:40:47,679 --> 00:40:48,946 You want to make money. 1042 00:40:48,946 --> 00:40:50,214 We're niche. You know? You are niche. 1043 00:40:50,214 --> 00:40:52,016 You can obviously tell he's trying to take you 1044 00:40:52,016 --> 00:40:53,318 in a different direction. 1045 00:40:53,318 --> 00:40:55,186 I can only take you in one of the direction 1046 00:40:55,186 --> 00:40:57,956 of the 12 clothing companies that I own. 1047 00:40:57,956 --> 00:40:59,824 What are you going to do? 1048 00:40:59,824 --> 00:41:02,293 ♪♪ 1049 00:41:02,293 --> 00:41:04,195 So it is tricky 'cause, you know, 1050 00:41:04,195 --> 00:41:06,064 you guys are both fantastic. 1051 00:41:06,064 --> 00:41:09,167 Would you like to go in together so we can hit both angles? 1052 00:41:09,167 --> 00:41:10,468 Absolutely not. No? 1053 00:41:10,468 --> 00:41:12,804 [ Laughter ] I don't need someone with one clothing brand 1054 00:41:12,804 --> 00:41:14,505 to tell me after my 12... 1055 00:41:14,505 --> 00:41:17,275 Do you want a partner that'll just throw you under the bus like that? 1056 00:41:17,275 --> 00:41:19,911 O'Leary: Carlo, you're gonna pass out in that bear outfit. 1057 00:41:19,911 --> 00:41:21,079 Like, you really gotta make a decision. 1058 00:41:21,079 --> 00:41:22,747 Cuban: You just gotta make a decision. 1059 00:41:22,747 --> 00:41:26,150 ♪♪ 1060 00:41:26,150 --> 00:41:27,885 Robert, I'd love to do a deal with you. 1061 00:41:27,885 --> 00:41:29,220 There you go. Boom! 1062 00:41:29,220 --> 00:41:31,289 [ Cheering ] Bear necessities. 1063 00:41:31,289 --> 00:41:33,758 Yeah! Give you a big [indistinct]. 1064 00:41:33,758 --> 00:41:36,094 [ Laughter, roaring ] 1065 00:41:36,094 --> 00:41:37,895 I don't want to get too excited, but... 1066 00:41:37,895 --> 00:41:40,732 That's okay. Whoo! 1067 00:41:42,033 --> 00:41:43,368 Congrats, Carlo. Congratulations. Great pitch. 1068 00:41:43,368 --> 00:41:45,103 Great pitch. Great pitch. Thank you guys so much. 1069 00:41:45,103 --> 00:41:46,104 Let's party on out of here, guys. 1070 00:41:46,104 --> 00:41:47,171 Oh, my God! 1071 00:41:47,171 --> 00:41:49,841 [ Laughter, cheering ] 1072 00:41:49,841 --> 00:41:51,642 Bye, Sharks! 1073 00:41:51,642 --> 00:41:52,410 Thank you! 1074 00:41:52,410 --> 00:41:56,014 I look fabulous. Furry convention, here he comes. 1075 00:41:56,014 --> 00:41:57,281 [ Laughter ] 1076 00:41:57,281 --> 00:41:58,916 O'Leary: Oh, that is funny. 1077 00:41:58,916 --> 00:42:00,018 That's funny. John: That is funny. 1078 00:42:00,018 --> 00:42:01,452 We got ourselves a deal with Robert. 1079 00:42:01,452 --> 00:42:03,955 It's going to be good. We're ready to blow this thing up. 1080 00:42:03,955 --> 00:42:05,156 [ Cheering ] 1081 00:42:05,156 --> 00:42:07,058 And now we're gonna go find the nearest freezer. 1082 00:42:07,058 --> 00:42:09,761 [ Indistinct ] [ Cheering ] 1083 00:42:09,761 --> 00:42:13,865 ♪♪ 1084 00:42:27,779 --> 00:42:30,681 -- Captions by VITAC -- 1085 00:42:30,681 --> 00:42:39,056 ♪♪ 1086 00:42:39,056 --> 00:42:44,796 ♪♪