Since the show started more than a decade ago, Shark Tank has hosted hundreds of would-be business owners. Although the majority of these participants cannot secure a deal few of them successfully reel in the sharks and proceed to construct massively profitable firms. Here are 10 of the most memorable and successful Shark Tank pitches of all time:
Memorable Shark Tank Pitches:
1. Scrub Daddy: Its, portable cleaner developing from Aaron Krause’s smiley faced sponge to Lori Greiner’s vision as a multi-utility cleaner. She put down $200000 for 20% ownership of the business. Since its HL made in 2012, Scrub Daddy has grown to a multi-million dollar company.
2. Tipsy Elves – funny Christmas sweaters Evan Mendelsohn & Nick Morton dressed in horrible Christmas sweaters as market pitches their ugly Christmas sweaters business in 2013. They were asking for $100,000 for 5% but came out with $100,000 from Robert Herjavec for 10%. It has since ventured in to other holiday apparels and has been able to decorate more than 2 million stomachs.
3. Bombas – As soon as entrepreneur Randy Goldberg handed each of the panelists a pair of Bombas socks they all were all ears to him. The socks came with unique reinforcement and the company would donate another sock for every sock bought and given to the homeless shelters. The sharks attacked as he requested for $200,000 for 5% stake, before getting to a $200,000 deal for 17.5% stake. Bombas is now a $100 million+ sock company.
4. Squatty Potty – Ever seen a man poop? The Shark Tanks sharks couldn’t help but burst into laughter as Bobby Edwards introduced his toilet stool that apparently helps one poop like a champ. Lori Greiner knew that he made a great marketer, and with his permission, she gave him $350,000 plus 7.5 % of the royalty for her half a million dollars putting in the business. After this pitch, Squatty Potty has turned into the most viral product ever selling more than $80 million of products. Â
5. Cordaroys – Children and sharks including alike could not help but be fascinated with the Cordaroys bean bag chair by the time brothers Rushabh and Rahul Gupta presented it in the 6th season. He later stepped in and said ‘It’s going to be great for kids,’ and bought 40% for $200,000. With just 18 months of launching the pitch, Cordaroys hit over $5 million in sales.
6. In season 5, a contestant had a dedicated business plan of Chapul cricket protein bars for the sustainable meals. This protein source may not be the most appealing to the eyes but Mark Cuban saw value n the mission and provided $50,000 for 15% of the company. Today’s Chapul bars and flour can be bought in over 2000 stores across the country.
7. Echo Valley Meats – Dave Alwan – Dave couldn’t dazzle the panel with his homespun business of sampler gift boxes of gourmet meats when he came on season 4. Daymond John had approved the money and invested $300,000 for 30% stake. Echo Valley tanDEM to burn down but got to M! billion via internet selling.
8. ReadeRest – As much as Lori Greiner was sold on the concept, Rick Hopper’s magnetic eyeglass holder brought back a regrettable decision the business tycoon had to let a similar idea go taste success after being declined years prior. On this occasion she leveraged the offer securing 65% stake for $150000 with Kevin O’Leary as her partner. Built upon ReadeRest products, the concept has had over $10 million in sales through Internet and other follow-on retail outlets across the country.
9. Grace and Lace – Two sisters from a small town moved Barbara Corcoran with their success story of their own small homemade women’s apparel business in the 5th season which was a result of their tragedy. It also made some investment, Barbara contributed $175,000 for a 10% stake in the company. Within few years of the formation of this company, Grace and Lace expanded 700% after the airing of the pitch and they even began selling shoes with Starbucks logo on it.
10. Ten Thirty One Productions – Using a custom-built hearse to ride into the tank, Melissa Carbone enchanted the sharks for horror in operation in season 5. Huge profit motivated Mark Cuban to purchase $2 million for 10% share of the company around Halloween. Ten Thirty One has now grown into one of the biggest horror entertainment companies across the United States of America through organizing more than thirty scream events, in three different areas, annually.
Combined, these 10 favourite Shark Tank pitches show that passion, creativity and perseverance along with flamboyance can secure a shark and propel small business to the next level. Booming post-show engagement and millions of sales, all those businessmen rightfully deserve their place in the bite in the tank.
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