Highlights
- Jeff Wolsky introduces The Bobble Place, an online business offering custom bobblehead dolls for $78-109 each.
- Wolsky seeks $75,000 for 18% equity but only in the expansion of his business to mall kiosks, not the established online segment.
- Despite multiple offers, including a final offer of $125,000 for 20% of the entire business, Wolsky declines and leaves without a deal.
Overview
| Category | Details |
|---|---|
| Name | The Bobble Place |
| Founder | Jeff Wolsky |
| Industry | Custom Products, E-commerce |
| Product | Custom bobblehead dolls |
| Funding | Sought $75,000 for 18% equity on Shark Tank |
| Investment Ask | $75,000 |
| Equity Offered | 18% (in the kiosk business) |
| Valuation | $416,667 (for the kiosk business) |
Jeff Wolsky has the Sharks’ heads nodding in episode 111 with his business, The Bobble Place. His business is already well established as an online, direct-sales company. What makes The Bobble Place unique is you can create a custom bobble head doll of anyone – including yourself. The dolls sell for a hefty $78-109 a piece, and come with a satisfaction guarantee.
Will the Sharks bite on this unique novelty business, or will Wolsky walk away from the Shark Tank hanging his head in shame?
The Bobble Place Shark Tank Recap
Wolsky is seeking a $75,000 investment in exchange for 18% of his business. He provides the Sharks with samples – bobble-heads of themselves. They’re delighted with the samples. O’Leary praises his sales skills:
“Jeff, so far, good sucking up!”
Wolsky explains how his custom creations are ordered through his website. He wants to expand his existing, successful business into mall kiosks. The Sharks start circling. Daymond John asks if the current business is producing a profit. Wolsky says yes, that he’s clearing 7 figures a year.
John clarifies that Wolsky is offering a stake only in the new, kiosk-based extension of his existing business. O’Leary wants to know why he should “invest in a piece of vapor, when there’s a real business right there.”
Herjavec wants to know why Wolsky is keeping the main business from them. O’Leary is visibly agitated. “So, I get to have the higher-risk location, the brick-and-mortar idea, while you keep the succulent, online, higher-margin business?”
Wolsky has dangled a tempting piece of bait, but his attempts to switch the Sharks to his kiosk idea are failing. O’Leary and Herjavec call Wolsky greedy. Daymond John wants to know “Are you willing to give us some insurance on our money, with your existing business?”
Wolsky is willing to consider conceding to the idea of giving up a small piece of his existing business. With Corcoran’s prodding, he explains the numbers relating to the kiosks. O’Leary is outraged when he hears that Wolsky isn’t able to project potential profits from the kiosks. He’s looking to use them as a marketing tool for the existing business.
The Offers
O’Leary offers $75,000 for 18% of the existing business. Wolsky declines the deal. Mr. Wonderful tells Wolsky that he’s “forbidden to mention the word ‘mall’ ever again.”
Daymond John says he likes the idea “but not the kiosk idea.” He says that the mall idea is simply “marketing” for the website, and feels that Wolsky is asking to use his money for his own benefit, and not mutual benefit. He’s out. Kevin Harrington believes Wolsky could test his kiosk idea for $10,000. He’s out.
Corcoran feels tricked by the knowledge that the original business isn’t included in a potential deal. She’s out.
Only two Sharks, O’Leary and Herjavec, remain. O’Leary offers $100,000 for 20% of the existing business, but wants to drop the mall idea. Before Wolsky can answer, Herjavec jumps in with a second offer: $125,000 for 20%.
Wolsky counter-offers, $225,000 for both Sharks, and each would get 10% of the business.
O’Leary sends Wolsky out of the room and negotiates with Herjavec. They decide that they’ll offer $100,000 for 20% of the company, which would bring both Sharks in. Wolsky turns down the deal.
Herjavec renews his offer, of $125,000 for 20%. Wolsky counters with $100,000 for 7%. Herjavec responds with a quote: “How it begins is how it ends,” calling the deal too complicated. He’s out, and Wolsky leaves the Shark Tank with no deal.
The Bobble Place Shark Tank Update
Without a Shark deal, Wolsky’s kiosk idea was rolled back. He continues to sell his customized bobble heads on his HD Design Centers website. He kept full control of his online company, and the Sharks swam on, looking for more fruitful waters. As of July, 2021, the company is still in business and has annual revenue of $5 million.
The Bobble Place Company Information
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