Having your presentation rejected in the ABC business reality show shark tank may be devastating for most of the businesspeople. Although there are some individuals who could not clinch an investment from the ‘shark’ celebrities, most of the contestants have achieved very good results in their business. Below are five companies that failed to impress the Shark Tank but as we know, the rest is history.
Copa Di Vino
In season 2 of Shark Tank, the meat and bones of Copa Di Vino were presented by James Martin whose patented process for sealing individual serving of wine in resealable, plastic cups were shared by the sharks. Kevin O’Leary did not like that it was not a wine bottle; he claimed it would not work at all. Nonetheless, the product proved popular after the show and has since been one of the most successful products to come out of Shark Tank. The single-serve wines created $5 million in sales within a year after Martin’s appearance. Copa Di Vino currently boasts its products in more than 10,000 stores in the United States, dismissing the sharks’ expectations significantly.
Tipsy Elves
We already mentioned that Robert Herjavek encouraged husband and wife entrepreneurs Evan Mendelsohn and Nick Morton that their Christmas-themed apparel company Tipsy Elves was the “worst business idea ever” in season 4. The other sharks just chuckled them and sent them out of the show as well. However, Tipsy Elves didn’t get any deal through the episode, the company enjoyed over one hundred thousand dollars sales within two days. It also continued to expand at a 500 percent year on year growth rate. In the end, long-term, what happened here is that Tipsy Elves were clearly the more resilient party than the sharks gave them credit for being.
Proof Eyewear
Taylor, Brooks and Tanner Dame presented their company Proof, which produces handcrafted bamboo wood sunglasses in season 4, they were looking to get $150 000 for 5% of the company. They got laughed at for what investor Daymond John called a “ludicrous” valuation though. When no one SE offered the three brothers a deal they decided to seize it on their own. They themselves expanded the business beyond the shark money with the help of an Indiegogo crowdfunding campaign, which they received more than $ 160,000. Since the creation of the comic series Proof has crossed the five million mark in total sales. And the company sunglasses have been worn by top celebrities such as Oprah and Jennifer Aniston.
Chef Big Shake
Shawn Davis may not have gotten the favor of the sharks for his gourmet shrimp burger restaurant business proposal at Chef Big Shake in season 2. But the investors failed to factor in Davis’ drive to get the job done irrespective of the cost. Following TASTY SHARK TANK REJECTION, Davis decided to act on his own accord. The SBA granted him a loan and he put all his life savings into the expansion of a Chef Big Shake. Since then, Davis has opened several restaurants and has franchise restaurants in several cities across the United States. He was also able to make over $1.2million in revenue only in 2017. It appears Chef Big Shake didn’t have to rely on the sharks to make a lot of dough.
The Bouqs Company
Flower delivery company Bouqs Company was turned down by John Tabis and Juan Pablo Montufar during their presentation of the business on the fourth edition of the reality TV program. Mark Cuban was rather rude when it came to judging, he said, ‘I’m out because I don’t understand where the business is’. However, after the appearance in Shark Tank, The Bouqs has considerably expanded into a significant threat to the floral supply chain. They have also secured over $ 58 million in Venture Capital. Also, the company has delivered more than 5 million bouquets, and the sales are expected to triple this year and get a revenue of more than 100 million. Really, it seems that The Bouqs Company does not even need Mark Cuban to sniff success at their door.
A Common Thread
As everyone knows, rejection is never fun but, hey, at least shark tank rejections are known to come packed with a few silver liners! Being rejected on national television provoked many of these startup owners to succeed even more. Instead of letting the sharks have the final say which I know to be a reality, they amplified their goals and created massively lucrative organizations regardless. Their hit shows demonstrate that because the celebrity investors often fail to identify a potentially successful concept it does not necessarily mean that the idea won’t succeed in the actual world. Successful entrepreneurs know when to pack up and leave having looked into the mouths of the sharks and knowing when it is good to just swim on to greater pastures.
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