Credit: Inc Magazine
Highlights
- 100,000+ entrepreneurs apply each season of Shark Tank.
- The Sharks receive almost 150 pitches every season, out of which only 100 are aired.
- Entrepreneurs cannot speak anything for the first 30 seconds after standing in front of the judges.
Ever since its inception in 2009, Shark Tank has been entertaining its fanbase with some iconic pitches. To impress the esteemed investors, entrepreneurs present the best Shark Tank pitches with the most lucrative and creative business ideas.
Here, we’ll not get into the nitty-gritty of what constitutes a good pitch on the show. Instead, we’ll satiate your Shark Tank pitch trivia. Whether you’re a dedicated fan or are looking to appear on Shark Tank, keep reading to uncover some interesting and fun facts about the show.
1. It’s Tough To Get Into The Show
Every year over 100,000 entrepreneurs send out their applications to Shark Tank so as to find a global stage to introduce their product/company. There are multiple ways to do this. The first one is to apply online on ABC’s website, which requires you to share a written description of the business along with its picture.
The second method requires you to attend open casting calls via “auditions.” For this, you’re asked to participate in in-person events set up across the USA and give a brief presentation about the business. If the producers like it, they might send you to the further stages of casting.
Credit: ABC Entertainment Press Site
Fun Fact: Shark Tank receives a total of 35,000-40,000 applications per season.
2. There’s No Guarantee You’ll Be On TV Even After Being Selected
As discussed previously, hundreds of thousands of people apply to get into the show every season. Only a few lucky ones get to the next part of the process and are able to pitch their products to the Sharks. But this doesn’t mean that you will be shown on TV.
Just like any other reality TV show, the recorded content has to be edited out because the show has a runtime of around 42 minutes.
Credit: ABC Entertainment Press Site
Fun Fact: Daymond John revealed on his website that an average of 150 pitches are brought to them, out of which only 100 are run on air.
3. You Get Only One Chance to Pitch Your Business Idea
Fumble of words, forgetting numbers, mind going blank – all of these are pretty normal if nervousness kicks in while you present your pitch to the Sharks. But no matter what, you won’t get a second chance. Just like in the real world, you’ll get one chance to either make it or lose it all while advertising your dream product/business in front of the brutal and intelligent Sharks.
An example of this is when Stephan Aarstol pitched his product, the Tower Paddle Board. It was evident that he had forgotten what to say in the initial part of the pitch, but he kept going and managed to grab a deal with Mark Cuban.
Fun Fact: You’re not allowed to speak a word for the first 30 seconds after getting in front of the Sharks.
4. The Filming Hours Can Be Long and Tiring
If you’re a regular viewer of Shark Tank, you must have witnessed that the pitches are ideally 10 minutes long. But the truth is that they are heavily edited. In fact, almost every pitch lasts for about an hour or two. The most extended pitch ever on the show was Plate Topper, which was brought to the Sharks by Michael Tseng. It lasted for about two and a half hours.
Credit: Looper
Generally, the Sharks get to hear about six to eight pitches every day. Plus, each shooting day lasts for 12 hours. In order to air only the best and relevant parts, the producers cut out any unusable parts, such as curses or times when the Sharks engage in heated conversations.
Overall, Shark Tank was shot in 17 days. Filming was divided into two and a half weeks, with summer and fall sessions.
Fun Fact: To avoid any continuity errors, the investors are asked to wear the same clothing every day.
5. You’ll Have To Write Your Pitches and Prepare Your Props
The entrepreneurs appearing on the show are given the liberty to use their creative insights and write their dream pitch just how they want. However, the producers may offer suggestions regarding the script change, if any, when required to make it one of the best Shark Tank pitches.
Additionally, all the weird costumes and props in their pitch are their personal creations. The entrepreneurs themselves fund the demos, besides TVs, tables, curtains, and other basic requirements.
Credit: ABC Entertainment Press Site
Fun Fact: Van Dasen, founder of Brightwheel, revealed on Medium that regardless of the results, you can’t disclose any details of your Shark Tank pitch before the show airs.
6. You Can Meet An On-Set Psychiatrist
It’s evident that not all the pitches that are brought to the Sharks will find their approval. But sometimes, the experience can be devastating for the entrepreneurs. The pressure of getting it all right can take a toll on your mental health.
Additionally, the burden of having your dream business idea ridiculed by industry veterans can take your confidence to an all-time low. Realizing that all these are entirely possible, the production makes entrepreneurs talk to a psychiatrist after their pitch is done.
Fun Fact: A lot of Shark Tank deals don’t close eventually due to multiple reasons, including license issues, legal complications, or entrepreneurs/sharks backing out at the last moment.
7. Pitches From Food and Fashion Industries Soar High
In its fifteen-year history, numerous entrepreneurs have approached the Sharks with countless products from a variety of industries. Be it bed warmers or kitchen appliances, modern-age apps, or vintage wine apparatus; the show has witnessed some of the best Shark Tank pitches.
But the food, clothing, beauty, and beverage industries have grabbed the maximum investments. Some of these best Shark Tank pitches are Bombas, Cousins Maine Lobster, and The Comfy.
Fun Fact: Bombas is the most successful Shark Tank product, with lifetime sales of $1.3 billion.
8. You Must Abide By A “No-Shop” Clause
There have been instances in the past when even after accepting an offer from the Sharks, entrepreneurs look for somewhere else so as to find a better offer.
To tackle this issue, ABC has come up with a “No-Shop” clause, through which entrepreneurs are barred from taking the current offer to any other investor for a better deal.
Credit: ABC Entertainment Press Site
Fun Fact: The Sharks don’t know anything about the entrepreneurs or their business from before. The reactions you see are real and spontaneous.
Conclusion
Shark Tank offers its audiences the perfect blend of entertainment and entrepreneurial insights. Owing to its panel of seasoned investors, it has emerged as the preferred choice of aspiring entrepreneurs to advertise their products globally.
The rigorous selection process, coupled with the high stakes of pitching, is filled with challenges and unpredictability. Whether you’re a budding entrepreneur or a religious fan of Shark Tank, the fun and trivia regarding the show emphasize the potential, pressure, and excitement of this iconic show.
References
1. ABC Shark Tank, ABC
2. Behind The Scenes Of Shark Tank As A Startup, Daymond John The People’s Shark
3. Inside the Shark Tank With Mark Cuban, DMagazine, Nancy Nichols
4. ‘Shark Tank’: All your burning questions, answered, USA Today, Gary Levin
5. Shark Tank: Behind the Scenes, Medium, Dave Vasen
6. Shark Tank’s Most Successful Brand of All Time Wasn’t Even Supposed to Be a Business at First. Here’s How It Became One With $1 Billion in Lifetime Revenue., Entrepreneur, Written By Amanda Breen, Edited By Jessica Thomas
7. The sharks of ‘Shark Tank’ dish on some little known facts about the show, Aol., Philip Louie
Entrepreneur, auteur, raconteur. Rob Merlino is a blogger and writer who enjoys the Shark Tank TV show and Hot Dogs. A father of five who freelances in a variety of publications, Rob has a stable of websites including Shark Tank Blog, Hot Dog Stories, Rob Merlino.com and more.
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