Highlights
- In its long running history of 15 years, popular reality TV show Shark Tank has seen thousands of pitches.
- Out of the many, only a few are able to grab the eyeballs of the Sharks who then decide upon investing in a product.
- Some of the pitches have been so good that Sharks call them to be their favorites.
Ever since its debut in 2009, Shark Tank has witnessed a humongous number of pitches from entrepreneurs belonging to different domains. Abiding by the premise of the show, the featured panelists, commonly known as Sharks, make best use of their business acumen to analyze their fate. Based on their analysis, they propose an offer to the entrepreneurs and lock the deal with mutual consent.
If we look back at the history of all the products that have appeared on the show and bagged investments, some have gone on to become multi-million dollar businesses, while others have failed miserably.
Read below a list of all the Sharks’ favorite pitches and find out what made them stand out:
1. Ice Shaker
A ubiquitous workout necessity, Ice Shaker is a shaker bottle made up of a double wall vacuum insulation that holds ice for 30 hours. The product was brought up by Chris Gronkowski and his brothers who made an offer of $100 for a 10% stake in his business.
With the help of his four brothers, Chris presented one of the most entertaining pitches through the Gronk way of staying hydrated. To do so, they called the Sharks for a game of five on five and very smoothly advertised their product samples.
So, did the Sharks make an offer?
Yes, they did. Each of them loved the energy that Gronks brought in the show. Kevin O’Leary inquired about the valuation, which as replied by Chris were – $80K sales, $5 cost margin, and $25 final price. Impressed by the numbers, Mr Wonderful proposed an offer of $100K at 20% equity. Next in line was guest Shark Alex Rodiguez who joined Mark Cuban and together made an offer of $150K for 20% equity rate. Barbara & Lori hopped in as well and offered $100K for 10% and $100K for 15%.
Eventually, Chris locked the deal with Alex and Mark by a counter offer of $150K at 15% equity.
2. I Want To Draw A Cat For You
In one of their interviews with Vanity Fair, the Sharks displayed their admiration for the pitch presented by Steve Gadlin for his brand I Want To Draw A Cat For You. The exact words of Mr Wonderful, Kevin O’Leary were that the product was “totally whimsical, totally stupid, and totally profitable.”
The Sharks even remembered the famous little dance they did along with Steve when the episode aired and just couldn’t control their laughs.
Here’s a quick recap for you in case you forgot about this unique yet profitable product.
Stick-figure-cat-artist Steve Gadlin captivated the Sharks within seconds with his hysterical dance performance. While doing so he sought for an investment of $10K at 25% of his company. He then went on explaining the process of preparing the cat drawings. All you need to do is go to his site, describe a cat, he will draw it and email it to you.
Even though the Sharks were bursting into laughter throughout the pitch, they felt the business was not investable enough. But then there was Mark Cuban, who showed his genuine interest and sealed the deal for $25K for 33%.
3. Jax Sheets
Wen Muenyi came up with his brand Jax Sheets seeking an investment of $212K for 10% equity stake. Although the deal didn’t fall through, he earned a lot of praise from each Shark. Mark Cuban even told it to be “the best pitch ever.”
Here’s a total account of what unfolded.
Wen started his pitch giving a little background of how single guys lounge in their beds without changing the sheets for weeks, sometimes even months. To keep away the odor emitted otherwise, Jax sheets can be the perfect solution for such men. Fabricated out of breathable bamboo fiber, these sheets eliminate any bad odor, are softer, and far more sustainable than cotton.
Apart from this, Wen also proposed the idea of his clothing line which would be a part of the same deal.
When it came to the negotiations, Wen showed his raw and fun side by honestly talking about his estimated sales and how his business was in a kickstarter stage. The Sharks got really impressed by his enthusiasm and honesty but were hesitant into investing as it’s still in its early stages. They even suggested that he should come back again prepared with better numbers.
4. Boho
Boho, a stylish trend in accommodation, is a camper van business brought to the tank by Brett Ellenson and David Sodemann. The investment sought was $300K for a 10% stake in equity. Projecting it as an affordable alternative in the camper van arena, their business is meant for both rent and sale purposes. Describing the many features, the entrepreneur duo listed out comfortable beds, running water, solar powered electricity, kitchenettes, pullout countertops, etc.
So, what made their pitch any different from others?
To make their pitch interesting and engaging, they called upon the Sharks into their van to give a demo of how it looks from inside. The Sharks seemed really excited. Lori Greiner admitted that “I love it.”
When it came to the negotiations, Rohan proposed $300K for 25% equity. Next in the queue was Barabra who offered $300K for 10% but there’s a catch to it. She said she would pay $150K in cash and the remaining $150K as a line of credit. Following this, Kevin and Lori made their offers of $300K at 7% and $300K at 20% respectively. Eventually, they accepted Barbara’s offer.
In a Nutshell
Shark Tank has received over thousands of pitches in its history of 15 long years. But there are only a few which have managed to create a lasting impression in the minds of the Sharks. If you observe the ones listed above, each of them had a unique aspect that made them stand out.
The honesty of Wen with Jax Sheets and Steve’s hilarious dance with I Made A Cat For You showed their real personality and captivated the Sharks. Whether they made an investment or not is a completely different matter though. But what’s for sure is that very rarely you get to see people come up with such raw and pure emotions to the tank.
On the other hand, Ice Shaker and Boho made the Sharks feel involved in the pitch and thus managed to grab their maximum attention.
References
1. Chris Gronkowski, Wikipedia
https://en.wikipedia.org/wiki/Chris_Gronkowski
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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