Highlights
- Steve Gadlin pitched his unique business, I Want to Draw a Cat For You, on Shark Tank.
- The Sharks were intrigued by his quirky idea and infectious enthusiasm.
- Faced mixed reactions from the Sharks, but the pitch ended on a high note.
Overview
| Category | Details |
|---|---|
| Name | I Want to Draw a Cat For You |
| Founder | Steve Gadlin |
| Industry | Art and Entertainment |
| Product | Custom cat drawings |
| Funding | Self-funded pre-Shark Tank |
| Investment Ask | $10,000 |
| Equity Offered | 25% |
| Valuation | $40,000 |
In episode 307, Steve Gadlin comes to the Shark Tank with his idea, I Want to Draw a Cat For You. While the idea may seem a little off the wall, it was strong enough to get him in the Tank, in front of the Sharks.
Gadlin is an inventor, who often gets his ideas in the bathroom. He believes his idea is completely unique within the market, and that people will buy his drawings. It’s so simple, it’s almost laughable, but Gadlin’s enthusiasm and confidence are infectious. Will the Sharks buy into his artistic vision?
I Want to Draw a Cat For You Shark Tank Recap
Gadlin is seeking a $10,000 investment for 25% of his business. He cues the music and gives the Sharks a musical presentation of his cat-drawing business, complete with dance moves that even gets Mark Cuban dancing along in his seat.
When his dance number is over, Gadlin gets down to business. “By now, I’m sure you’re asking, how did this idiot get into the Shark Tank,” he says. “Well, let me tell you, in today’s economy, there’s a market for stupid, and I am overflowing with it.” Not exactly the most convincing pitch the Sharks have heard thus far, but he has a point.
His custom cat drawing business allows customers to describe a cat and a scene, and he’ll draw it for about $10. He’s able to draw about 1,000 a week. Kevin O’Leary gets down to the nitty gritty, asking about sales. So far, Gadlin has sold about 1,200 drawings in a year’s time, earning just over $9,000. O’Leary wants to know what he’d do with the investment. Gadlin wants to expand the line to greeting cards and other items.
O’Leary rarely invests in artists, because the business is dependent on the artist’s creativity and continuing health and ability. Because of the size of the company, O’Leary believes it’s “not investable” He’s out. Robert Herjavec is out based on the low profit in the first year.
Mark Cuban loves the idea, and offers $25,000 for 33%, over two times the original investment request. Gadlin asks Cuban if he’ll draw 1 of every 1,000 cats. Cuban agrees, and they strike the deal, finishing it up with not only a handshake, but a dance number.
I Want to Draw a Cat For You Shark Tank Update
I Want to Draw a Cat For You turned out to be one of the must unlikely and successful businesses ever to appear on Shark Tank. In the four years since the business began, Gadlin drew 18,794 custom cats for people through his website. He also sold cat tee shirts and other novelty items. Steve’s business was featured in an update segment in episode 315 in season three and he already paid Mark Cuban back, had several employees, and was suffering from severe writer’s cramp!
In January of 2015, Gadlin announced that he was closing his cat-drawing business in favor of focusing on his new television show, Steve Gadlin’s Star Makers, airing on WCIU-TV. His website and social media, however, show that Gadlin is still drawing cats for enthusiasts who request them, so it’s possible that the business isn’t quite as dead as he implied. Cats do, after all, have nine lives.
In June, 2021, Steve re-launched the business, drawing cats for $9.95 – the same price as when he was on Shark Tank originally. He’s done over 21,000 cat drawings. In September, 2021, Steve launched a Kickstarter for The Fart Pedal, a guitar pedal that converts sound into fart noises.
In December, 2021, Steve announced the following via email:
I’m trying something new. For 2022, I’ll be drawing one cat drawing per day. You can book a cat drawing here – but be sure to snag the date that’s important to you before it’s gone!
Drawings will be posted on Twitter, Instagram, and my website, and will cost $10.
At the end of the year, I’ll be donating the $3,650 collected from cat drawings to a non-profit, or another artist (TBD), to support their awesome project. The money you spend on cat drawings in 2022 will help support creativity in 2023 and beyond!
Interested? Book now!
Hey, I hope your holiday was swell, and I hope you’re due for a wonderful New Year.
He never announced how much he raised, but in January, 2023, he’s still drawing cats.
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I think STEVE’s CAT Drawing empire ~ emPURRe is great. I saw that Episode on Shark Tank when he appeared ~ ap-PURRed. It’s fun – it’s lively. IT’s CAT-centric for all of us CAT Lovers both on & off-line. Recently new to Instagram, I find that all of my new Friends OWN CATs – Oh, I am sorry, they OWN us, as they should & hope STEVE continues on with his light-hearted, whimsical CAT-ilicous Drawings. I have been a CAT Lover – even born on a Saturday – #CATurday under the Sign of LEO over 70.5 years ago & they still mesmerize ME & entertain me. My CAT Project (now 6 years in the Making) revolves around my CAT, CALi THE CALiCO von Koop-Hof, THE FURSt who has inspired ~ insPURRed me to write 705 CALiDATES – Holidates ~ CALiDATES in 148 CATegories that help a person bond better to their beloved CAT(s). No matter what our TALENT is, if there’s a CAT behind the PURRoject, you know you will make instant Friends who adore FELiNES that again proves ~ PURRoves they are the #1 PET since Fred Flintstone befriended that Pteradactyl so many eons ago. What should be very evident is that STEVE is masterminding this Project & growing it. Evolution like this is very advantageous to new entrePURReneurs who wish to expose ~ exPAWSe their CATS to bigger & greater things. We can all say we-knew-him-when! #watch_and_grow. THANKS for your Time.