Highlights
- Colin Grussing seeks $100,000 for 15% equity in Root Suit, the original spandex body suit company, boasting $525,000 in sales and $140,000 in profit.
- Despite high sales, the Sharks express concerns over competition and scalability, leading to no deal after Daymond John retracts his 50% equity offer.
- Grussing continues to expand Root Suit post-show but eventually shuts down the company in 2016, pivoting to new entrepreneurial projects.
Overview
| Category | Details |
|---|---|
| Name | Root Suit |
| Founder | Colin Grussing |
| Industry | Apparel & Costumes |
| Product | Full-body spandex suits |
| Funding Sought | $100,000 |
| Investment Ask | $100,000 |
| Equity Offered | 15% |
| Valuation | $666,667 |
Root Suit, the ORIGINAL spandex body suit enters the Shark tank in episode 426. Entrepreneur Colin Grussing started Root Suit back in 2008 when he wanted to buy a green spandex body suit for a friend that he saw on TV. He couldn’t find a company that sold them, so he started his own! Colin and his buddies tried wearing the suits in the French Quarter in New Orleans and the crowd went nuts over them. They sold their first suit for $400 on Ebay (they refunded all but the regular price)! Root Suit got BIG publicity in 2010 when Shaquille O’Neal wore a 5XL Root Suit. Since then, many imitators have popped up which has had good and bad effects; it expands the brand, but eats into sales. Root Suits hopes the Sharks will suit up with an investment.
Root Suit Shark Tank Recap
Colin Grussing comes to episode 420 looking for a $100,000 investment in return for 15% of Root Suit. His pitch is colorful to say the least. Rather than a long, drawn out description and breakdown of the business, he introduces a modern dance troop, all decked out in the Root Suit. One dancer sports a giant shark head, and pretends to chomp the Sharks, garnering nervous laughter.
Sales in the past year reached $525,000, with $140,000 in profit. Grussing claims to have pioneered the product space, admitting that he has some competition from imitators.
Did Root Suit Get A Deal?
Robert Herjavec is familiar with the product, and believes it’s a “big market” but he’s afraid that the competition will sink the company. He’s out. Lori Greiner thinks they’re “very cool” and she “really likes them,” but she also worries about competition. Grussing addresses Daymond John directly, pointing out the branding that made him successful.
Kevin O’Leary is unconvinced. He wants a larger return on his investment and says “for me, it isn’t there.” He’s out.
With three Sharks out, Daymond John makes a “very Sharky offer.” He’s willing to put up the $100,000, but he wants 50% of the company. Grussing is unsure about giving up half his equity. Mark Cuban refuses to move until he hears an answer. Gussing waits too long, and John retracts his offer.
Mark Cuban tells him that he’d “be an idiot to take a partner.” He’s out, and Grussing leaves the stage with no Shark deal.
Root Suit Shark Tank Update
Daymond John may have been a bit hasty in retracting his offer on Root Suit. Grussing has gone on to continue growing the company’s web presence. He’s expanded the line to include whimsical faux animal-skin coats, like a bear coat, which was a big hit when he wore it to Mardi Gras to test the market. Grussling is the kind of dedicated entrepreneur the Sharks normally love, but his business didn’t have enough proprietary protection and his brand didn’t have a strong enough foothold to keep the competition at bay. Root Suit might not have landed a Shark, but Grussing will undoubtedly continue to grow and expand his business.
In pre-show communications with the Shark Tank Blog, Colin revealed the following: ” Since we filmed, Root Suit has become mostly automated, so I’ve had a lot more time on my hands. We actually have some really exciting new projects in the works now. Nola Sidecars, Apocalypse Camp, and a new project where I will be starting a new business each week and chronicling the process for a blog, book, or podcast.”
Somewhere in 2016, this company ceased operations.
Posts About Root Suit on Shark Tank Blog
Company Information
More products from this episode! Check out other businesses that participated alongside Root Suit.
Damon you are such an bad person for backing out on that root suit guy just because he didn’t say yes within a certain amount of time, I hope your business goes into bankrupt and you live poor like the rest of the world! Your eago will bite you in the back my friend! Fubu sucks btw nobody wears that anymore!! Your rich, you can have 3 meals a day, you have a house and a car, you should give people a chance and give back to the unfortunate, we all are suffering in this economy and I think it was so darn rude and vein of you to do that to that young man! I’m sure he was nervous and YOU BACKED OUT!! Shame shame! Hope you will one day be in the rest of the populations shoes and see what it is to live paycheck to paycheck and eat top ramen for dinner because that’s all you can afford! Maybe you should pick a couple of family’s with all that money you have and help them with housing and transportation food etc that prob will help u become a better person! NOBODY NEEDS $800 suits and $200 dress socks!!
I have not seen the episode, but I think you are being far to harsh on Damon Jennifer!!! It is his money his rules. How many times has Kevin done the same thing, and Mark Cuban they all do it from time to time especially if they are wavering on doing the deal. If you have actually looked into Shark Tank a bit more, you will find that Damon is one of the most friendliest Sharks and he puts a lot of time into the companies he invests in. Its simple really before shooting your mouth off look into the facts.
Also, just one example of how Damon behaves – the Billy Blanks JR guy, DID NOT understand the deal given to him by Damon, Damon got up and explained it to him and a deal was signed they are both happy with. So again don’t take everything at face value and more importantly don’t let this show get you so worked up, it is after all only a show 🙂
I so enjoy reading this blog
Have a lovely day!
Yes he has all that BECAUSE he earned it !! It’s his money ! He is the kindest man and helps a lot of people ..first example the lady that all the other sharks attacked ..her product is myself belt .I SUGGEST YOU WATCH IT !