14x20 - Episode 20

[bunniefuu]

Narrator:
Tonight on "Shark t*nk"...

So, Sharks, who's
ready to suit up?

I am going to be the next
big toy brand in America.

It's been a journey,
but I'm -- we're all in.

There's a lot going on
financially

that really worries me.

The road of entrepreneurship,
it is full of heartbreak.

Our heart's
completely into this.

You've got the courage.

That's why we need experts

like you guys to come on board.

Cuban: You have a
fundamental problem.

You don't know what
business you're in. Oof.

I'm going to make
you a greedy offer.

O'Leary: That's
outrageous! Whoa. Wow.

All roads lead back
to Mr. Wonderful.

I've heard that so many times.

Unfortunately, so have we.

Ahhhhhhhhhh!

♪♪

Narrator: First in the t*nk

is a snack inspired
by a love story.

♪♪

♪♪

Hello, Sharks. My
name is Kendra Bennett.

I'm from Longmont, Colorado,
and I'm here seeking $200,000

in exchange for 10%
of my family's business,

Honey Bunchies.

Sharks, buckle up for
a true "Top g*n" story

with a tough-as-nails
fighter pilot

and an unstoppable
love for his sweetheart.

When my dad was an F-4
Phantom fighter pilot in Vietnam,

he got by on candy
bars and cola.

He became hyperglycemic
and nearly diabetic,

which, of course, doesn't
fly when you're a fighter pilot.

That's why my mom
created a honey-based snack

that not only tasted great,

but gave him a healthy
source of energy.

Fast forward 35 years,

and Dad... Hmm.

...tried to re-create
Mom's recipe,

but, Sharks, he
did not get it right.

He actually made
something better!

[ Chuckles ]

Dad managed to create a bar

that is completely unique
to the energy bar market.



Honey Bunchies gourmet honey bar

is pure honey... Mmm.

...mixed with crunchy nuts

and covered in lightly salted
and roasted sunflower kernels.

It's the perfect
honey-packed energy boost

that's gluten free,
grain-free, and soy-free.

And our coconut almond
bar is peanut-free --

and, Mr. Cuban -- dairy-free.

[ Laughter ] Oh, yeah.

We're changing the
stale, boring world of bars.

So, Sharks, let me ask you,

who's ready to suit up
and get on the flight line

with Honey Bunchies
gourmet honey bars?

[ Chuckles ] Good job.

-Great job.
-Nice.

And if you don't mind,

this is actually my
dad's aviator jacket...

Cuban: Oh, that's
cool. ...but it's really hot.

Very cool. Very
cool. Corcoran: Yeah.

Cuban: Can we try them?
Oh, please do. Please do.

Wow. Honey is truly the main
ingredient. Coconut almond is good.

Thank you. Wow.

It's really, really,
really good.

John: That coconut
almond's good.

Mmm, so yummy and
delicious. Not too sweet.

These things are amazing.
Bennett: Thank you. [ Laughs ]

They're really good. Yeah, they're
really good. And you know what?

My dad actually named
the bar after my mom,

who he calls "Honey Bunchy."

And they would have liked to
have been here with us today,

but because of my dad's
PTSD, they couldn't come.

So what year did your
father start the company?

So, he started the
company in 2010,

but he had no background
in food and beverage,

so the first three years was
just building the foundation.

But we started
retailing in 2013.

Our first major retailer
was Whole Foods.

We're in a total of


Greiner: Good for you.

We're in Whole Foods'
Rocky Mountain region.

We're in the Kroger banner,

King Soopers and
City Market in Colorado.

We're in Natural Grocers,
about 19 different states.

We actually do really
well in non-grocery, as well.

So, we have a lot of independent
shops all over the country.

John: What is the cost to make,
and what do you sell them at?

Our retail is $2.99.

Yeah? It costs us 81
cents to produce a bar.

What are your sales?

Year to date, we are at $300K.

We expect to end
this year at $519,000.

And what will you
make on that $519,000?

We estimate about $22K.

But what's really exciting

is that, next year,
we're projecting

$2.2 to $4.2 million.

What?!

Such a large jump.
What's going to happen?

It is a large jump, and
there are five reasons

for that large jump.

Not six. Not six -- five.
Okay. Let's hear all five.



Number two, three
nationwide distributors.

Number three,
a national retailer

that sells by the
box, not by the bar.

Number four is the
anticipated growth

that we're expecting online
because of the billboard

the first three are
going to create.

Number five is our
private-label client,

who is partly owned by
two world-known athletes.

So these aren't
guaranteed purchase orders.

You're just in dialogue
with them, right?

Actually, 7-Eleven is happening.

Is a purchase order in hand,

and that's half of the estimate?

It's as close as you're going to
get to a purchase order in hand.

It is the opportunity to
sell into all 8,500 stores

at the 7-Eleven annual
trade show in February, so --

Do you have that order, though?

They had an application
process with 700 applicants

for their Brands
with Heart program,

which they are using to support
emerging brands such as ours.

We were in the top 1%

to be offered a free booth
at their annual trade show

to sell into 8,500 stores.

So that is happening.

We are going to the trade show.

So, wait a second. So they're
not guaranteeing you any sales

to any of the franchisees
or corporate owned, right?

Not guaranteed. But, come on.

[ Laughs ] I know how to sell.

O'Leary: You still have to
convince store by store... Yes.

...or region by region
to take on the SKU?

I don't think it'll
be that difficult.

We'll be at a trade show. All of
them will be there in two days.

Ohh, I felt that way
many times in life.

♪♪

♪♪

Narrator: All Sharks are still
in, but they are skeptical about

Kendra's high sales projection

for her honey-based
energy bar, Honey Bunchies.

O'Leary: I want to understand
it. They've approved the product.

Bennett: Yes. It's now your
job to sell it into the regions?

They've approved the product.

We're already in


and we have proof of concept.

We know it sells there, so --

Kendra, look. Great
product. I loved it.

They tasted amazing.

But the energy bar/
candy bar business

is brutally competitive,

and you're able
to run profitably,

put $22K to the bottom
line and continue to scale it,

and I know you want
to accelerate that,

'cause that's what we
do, put gas on the fire,

but it'll take so much

to get to a point where
there's a return for me.

I just don't see it.

So for those reasons, I'm out.

Kendra, your parents'
story, fabulous.

I -- I'm not personally
a big fan of honey,

and that's just my thing.

Most of the world is.

But I have to love
what I invest in.

It's just not right for me.

So I'm sorry. I'm out.

You're such an optimist.

That's what makes
you a great salesperson.

It's your biggest
liability, too.

You're projecting $2.2
million in sales next year.

Of course you're feeling
optimistic that you'll get them,

and I hope you do.

But you don't invest
on someone's optimism.

You like to see the fact
that justifies the figure.

I wouldn't be as far as I
am if I were only an optimist.

No, you're not. We've
been in business for --

You're a very hard
worker and an optimist.

But in projecting out,

optimists tend to overestimate.

So because I don't have
that belief in the numbers

as much as you do, I am out.

Okay.

Thank you.

Family businesses are
often tough for an investor.

Often, I find it challenging
to come in and disrupt

whatever is going
on, so I'm out.

Kendra, the amount of work
ahead of you is unbelievable.

Yeah. But you know what?
We are a hard-working team.

No, I believe
you. I believe you.

But, you know, you don't
know what you don't know yet.

But you can tell us
what we don't know,

if that is necessary.

We have stretched our own
personal money all this way.

I respect that, but
to take on an investor

with a valuation that's
completely insane at this point.

Well, then, make me an
offer that fits the valuation

that you're interested in.

No, no, I just -- It's...

Aw.

[ Voice breaking ]
This is...everything.

♪♪

It's -- It's everything.
We have put it on the line.

[ Sniffles ]

And we've been through
a lot of hard times.

I mean... [ Sniffles ]

We took a huge hit during COVID,

and we pushed
through, we got through it.

I don't know how.

I mean, it was hard work,

a lot of tears and
fighting, but we did it.

We know we have
something special,

and I hear it every day.

People e-mail us and
beg us to never go away.

If you go and look at any of
our reviews, we're five-star rated.

Our heart's
completely into this.

[ Sniffling ]

Kendra, the road
of entrepreneurship

is not a destination,
it's a journey.

It is full of heartbreak
for everybody.

I-I gotta tell you, I don't
make emotional decisions

when I invest.

I make pragmatic,
factual decisions

because I have to deal
with what's put in front of me.

I can't take this
journey with you.

I'm out.

♪♪

I think you might regret it.

I think that you will. I
hope we do. I hope we do.

O'Leary: I hope I do.

We wish you nothing but success.

Thanks, Kendra. All the
best. Thank you, Kendra.

Thank you. I appreciate
your time. Thank you.

Good luck. Corcoran:
Good luck to you. Good luck.

♪♪

[ Sighs ]

I'm a little bummed,
but it's okay.

There's always a
silver lining, always,

so I guess that's
my optimist side.

But it's gotten us this
far, and we'll keep going.

There's no question.

It's very hard to say no.

I thought somebody was
going to cave and say yes,

and I was afraid it
was going to be me.

Very hard to say no. The
optimism, as you said, Barbara,

is challenging, because
everything she said,

she didn't actually
technically have.

Oh, she believed it, no doubt.

♪♪

Narrator: Earlier this season

in "Shark t*nk"'s
first-ever live premiere,

we watched Nina and
Sina Farzin make a deal

with Barbara Corcoran for their
baby booger tool, Oogiebear.

So, he wants to go to
your summit, Barbara.

Yes, I want to go
to your summit.

Corcoran: Of course, you
can come into my home.

Narrator: Let's see
what they're up to now.

Corcoran: I only invite
my best entrepreneurs

to the all-star retreat,

because I want
to create a family.

They help each other,
they learn from each other,

and they go home with
a network of support.

I couldn't stop pinching myself.

I was pinching myself,
and I was pinching Nina, too.

It was phenomenal.

In our seven years of
business before "Shark t*nk,"

we were averaging $174,000
in product sales per month.

In the four months
since "Shark t*nk,"

Oogiebear is selling
$410,000 per month,

and that is a total over
$1.6 million in sales.

To the bravest
people in the world,

stupid enough to
be entrepreneurs.

[ Laughter ]

With Barbara on board,
doors are opening.

Walmart has put us in


We have the
Oogiebear with the light.

And then the aspirators.

Corcoran: I was so excited
about the company from the get-go

because they had developed
so many new products,

so I knew they had the
capacity to keep inventing

and make a huge business.

We should have some
fun with the customers.

Let's do it.

And you just stick in the nose
and take all the boogers out.

The things I do for
my entrepreneurs!

Because you guys are
fans of "Shark t*nk,"

we got something
very special for you.

[ Customers screaming ]

[ Shrieks ]

[ Laughter ]

What are you doing here?

Barbara, you are the best.

You know, it's really important

to leave a lasting
impression on the customers.

And I know, today, we did that.

Nina: The first time the idea came
to mind, it was so embarrassing,

everybody was laughing.

And now they can't even imagine

how important this
tool has become

in helping every
parent out there

to improve the
breathing of their children.

So, to all those
people who doubt,

take your dream and run with it,

because you never
know where it takes you.

We can't wait to
see where we go.

With the marketing
genius of Barbara

and the platform
of "Shark t*nk,"

watch out, world.

♪♪

♪♪

Narrator: Next into the t*nk

is a brand seeking
to be a better fit for all.

♪♪

♪♪

Hi, Sharks. I'm Charisse,
and this is my wife, Vicky.

We're from San
Diego, California,

seeking $250,000 for


When you go clothes shopping,

Most stores have a men's
section and a women's section.

But, Sharks, neither of
those sections work for me.

The women's section tends to
have more form-fitting clothes,

which I like -- But I don't.

And while I love
the men's style,

those clothes are just not
made for my body shape.

Sharks, she's got a booty.

[ Laughter ] True story!

We're all unique
individuals, and we believe

the shopping experience
should be based

on style preference
and body type,

not on gender.

That's why we decided to
forge the future of fashion with...

Together: Dapper Boi.

A genderless and
size-inclusive apparel line

made to fit you
both inside and out.

Join Dapper Boi in being
part of a revolutionary solution

that'll bring
confidence within us all.

After all, isn't it about
time that we all fit in?

Sharks, in front of you are
some Dapper Boi clothes

we'd love for you to check out.

Cuban: Good for you guys.

Thank you. Thank
you. Good for you.

O'Leary: I'm really intrigued.

Corcoran: This is a great shirt.

I mean, do you sell
direct to consumer?

Because you're asking retailers

to create a third
category, right?

Right, and, you know,
obviously, we're not opposed

to creating this
third category or not,

but, right now, we feel
like direct to consumer

is the way to go. Of course.

Especially, you know, with
being a mission-driven brand

and just being
easy to shop online.

Good-looking stuff.

So, are you blowing
it up on social,

or how are you getting the
word out to your community?

Yeah, so Facebook
and Instagram, mostly.

We're excited to start dabbling

into some influencer
marketing, as well.

How'd you come up with this?

I used to shop in the
women's department,

and those styles
were just never for me.

I never felt confident. I
felt frumpy, I felt unseen.

But we started Dapper
Boi seven years ago now,

and literally it came
from a pair of jeans.

Jeans was the
first thing I tried on

in the men's department,

and it was the scariest
thing to go to that section,

you know, to maybe be judged.

But it was exactly
what I wanted to be.

It was, like, the
confidence I wanted.

That was my style, you
know? It was emotional.

But years later,

I realized those clothes
just never fit my body type.

And so, we -- we
saw a bunch of people

just like myself with
the same exact problem.

So, I guess that your
sales are less than a million.

I think they're over a million.
Please, let me be wrong.

Okay, so, lifetime sales
in the last seven years,

we've done about $3.5.

Good for you. And, actually,
the way we've run our business

is preorder campaigns.

John: That's very good.

So, we bootstrapped the brand.

And last year, we were at $1.2.

Yeah! Oops!

Yeah. I got you.

So, why don't we
get into the margins?

What do you -- What's
an average margin?

Take this shirt,
for example. Yeah.

Yeah, that shirt is $9.40.

Oh, wow. And we sell it for $60.

Landed price for jeans, $15.

We sell them for $99. Nice.

What did you mean when you
referenced a pre-order campaign?

How does that work? Yeah, so,

how we were able to
bootstrap is that we launch

these products at what
we call "intro pricing."

So it's usually about a


and that really creates
a sense of urgency

within our customers.

Our repeat customer rate is 51%.

Wow. That's huge.
These people are waiting

for our products to come in.

And how do you
execute that, exactly?

I've never heard that.

So, we launch a product.

We put it out on e-mail,
social, everywhere,

and then the customers go
ahead and pre-order the product,

and we usually deliver
within 6 to 10 weeks.

But I will admit here,
COVID, you know, k*lled us.

Right now, with
the COVID delays,

we're seeing 6, 7 months.

Cuban: Ouch. Wow.

And so how much do you
have in inventory right now?



But it's across a lot of sizes.

And that's what makes it tough.

How much cash do you guys have?

Uh, maybe $100 today.

$100? [ Sharks exclaiming ]

What? 100 dollars?

I'm not -- Yep.

We're at the point here
where we just sold our house.

-Oh, no.
-Oh.

It's -- It's vulnerable
and not fun to talk about,

but we believe in this brand,
like, more than anything.

So far, you're
losing money, right?

Yes. Okay. So, this --

How much money are you losing?

Right now? ...on intro pricing

is k*lling your margin.

Yeah, wait, Kevin. Kevin. How
much money are you losing?

Yeah, so I think we're about
$150,000 negative this year.

What did you lose last year?

$313,000.

So you're $450,000
in the hole, right? Wow.

Yep. Guys, something
doesn't add up for me.

Yeah. Right?

Because your margins
are like this... Yeah.

...and your shipping costs
shouldn't be that astronomical.

Right. What happened was,

is I also started
spending in marketing.

I hired a consultant.

-Ah. -Ugh.

Oh. That's where you went wrong.

Yeah. Vicky: Exactly.

So how much did you
spend on marketing?

I would say, you know, it
was definitely over 30% of...

Ooh. John: Oh, my God.

So, you have this
rabid community

that wants to buy from you.

You don't need to market them.

It was our attempt -- and it
was a wrong attempt... Yeah.

...to try to expand
and go further,

but we were not ready for that.

And we will be ready
for that, but not now.

That's why we need experts
like you guys to come on board.

The reason why the people are
waiting 6 and 7 or 8 months is,

like you said, it's a
community, it's a movement.

It's funny that FUBU
-- For Us, By Us --

has become used a lot in
the LGBTQ+ community.

Am I right? Yeah.

And you are For Us, By Us.

You know, that --
that's who you are.

Why are you trying
to go anyplace else?

If other people adopt
it, it's no problem. 100%.

But why are you
going anyplace else?

There's so many people
that identify with you right now.

Stop trying to be
everything to everybody.

No, you know, I have
to -- I have to argue that,

and it's because I don't
want to be categorized.

I want to fit in with everybody.

Listen, I'm pro-Black, but
never anti-anything else. Yeah.

Right? No, of course. Yeah.

It doesn't mean that other
people won't accept you.

Yeah. So I have to be honest.

I have to give you my
assessment of the business.

I gotta try to find
a way to help you.

I'll mentor you, but as for
the business? Appreciate it.

Yeah? I'm out.

Thank you. Thank you.

You guys, I like
to sit here and say

I've done a million
products, and I have.

And I've done something
in just about every medium,

but the one thing
I've really never done

is jeans, clothing.

I don't know how I could
bring value to your business

and help you out.

So, unfortunately, I wish
you good luck, but I'm out.

Thank you very much. Thank you.

I understand your
mission. I respect it.

There is such a need for
this, but I think your problem

is much larger cash-wise
than you envision it to be.

Even if you came in
here and we gave you

the $250,000 for your
stock, that's nothing.

That's not going to
get you over the hump.

It's just -- It's a rough one.

So I wish I could be
with you, but I am out.

I wanted to mention
one other thing,

and it's pretty important here.

We're about to
do a collaboration

with another brand
that does jeans,

and they do 3-D modeling.

So what happens
with that is that --

Guys, guys, don't do that. Yeah?

Don't do the collaboration?

No. You have a
fundamental problem.

You don't know what
business you're in.

You have this community
that's like this. Golden.

Your clothes are
not the product.

The community is
looking to your clothes

as their membership, as
the way for them to say,

"We all belong together,"
that, "This is us."

The clothes are secondary.

It's keeping the community
together that's important.

But I have a fundamental
problem as an investor,

because we're not on the same
page on what makes the business.

If it's about, "I want
more inventory,

I've got this collaboration,

I've got all these
other things,"

that's not the
vision I would have,

and it's your vision
that's far more important.

So for those reasons, I'm out.

♪♪

You're not only all in,
you're all in 2,000%.

There's only one direction.

Yes. It's up to the surface

so you can breathe some oxygen.

That is not a wonderful
place for an investor to be.

Right. I wish you
guys the best of luck,

but I'm out.

Yeah. Thank you. Thank you.

Cuban: Good luck, guys.
Thank you very much.

Keep on fighting. Thank you.

Greiner: Good luck, you guys.

Let me give you this.

Yes? This is my number.

Awesome.

Good luck. Thank you very much.

-Thank you.
-Thank you. Appreciate it.

O'Leary: Thanks, guys. Alright.

Thank you, guys.

[ Sighs ]

♪♪

Vicky: I think the
Sharks reminded us

that our community
is -- is everything.

It's not the end of Dapper Boi.

And you know what?
At the end of the day,

we came here to
build a relationship,

and I'm so happy that
we walked out of here

with, hopefully, a mentorship.

Yes. So that's huge.

Yes.

♪♪

♪♪

Narrator: Next up
is hours of playtime

in a convenient container.

♪♪

♪♪

Hi, Sharks. My name
is Kayla Lupean.

I'm from Cleveland, Ohio,
and I am seeking $150,000

for 10% of my
company, Play Maysie.

Sharks, my daughter
loves to play,

but as a first-time mom,

I was clueless
to the frustrations

that toys add to a household.

I was investing more time
trying to find missing pieces

than my daughter was
spending playing with them.

Not to mention, walking
around the house at night

was like navigating a
minefield of loose toys.

One wrong step, and bam, ahh.

I scream, she wakes up,
and I still have a house

full of toys to clean up.

Toys should bring joy
to a home, not mess.

That's why I
created Play Maysie.

Play Maysie is a
portable dollhouse

for quality play on the
go and less mess at home.

Our cases were inspired
by vintage tin lunch boxes

that open on both sides

to reveal two
interchangeable rooms.

Our magnetic floors with
attached wooden furniture

means no loose
pieces, no lost pieces,

and no more bottom-of-the-foot
owies for moms and dads.

When playtime is over,
simply close your case,

put them on a shelf,
stack them in a pile,

or hang them on a hook for easy
cleanup and all-in-one storage.

Whether you're
planning a long car ride

or just looking to clear
the clutter in your home,

Play Maysie keeps your
child's imagination active

and your cleaning to-do
list a little bit shorter.

So, who's ready to help
me save the soles of parents

all across America
with Play Maysie?

Great presentation.
Greiner: It's very cute.

So this is it in front of us?

So, in front of you,
you each have a case.

Mark, you have our wild case.

I'm wild, baby. [ Laughs ]

The wild case is
camping and fishing.

Barbara, you have our home case,

which is a kitchen and
living room. My favorite room.

Mr. Wonderful, you have red, so
it would match you. Yes, I like that.

You could try it on. Yeah.

And, Lori, you
have our cozy case,

which is a bedroom and bathroom.

And, Daymond, you
also have our wild case.

Wild.

Well, that's kinda
cool. Greiner: Very cute.

Thank you. Yes. It's like a
magnetic dollhouse, right?

Are there only two characters?

So, there's a set
of six characters,

and it was really important
to me, two things --

to make this very
gender-neutral.

I believe that doll play,

especially for boys,
is very important,

and I really wanted
everything to be as inclusive

as it could be for the
first launch of the product.

My goal with this is to
expand the line of cases,

building out the
character storylines.

So, I just finished
the first book

that the illustrations
are almost done,

that is about each character,
and I want this to be a brand

where kids get to
know the characters,

love the characters.

I am going to be the next
big toy brand in America.

Aha!

Tell us about you.
Tell us your story.

So, in 2013, I got divorced.

I moved out on my own
for the very first time.

I'd never lived by myself.

And I really invested
the next few years

in building my
photography business.

And so, I had dated
for a few years.

Nothing was working out.

And I kind of jokingly
said to my mom,

"Maybe someday I'll just
adopt and I'll do this on my own."

She worked at an OB/GYN clinic.

I asked if anyone ever came
in looking to place their baby.

Wow. She asked the doctor,

said it hadn't
happened in 25 years,

and the next day, a
couple came in asking

if he knew anyone
looking to adopt.

Unbelievable. Oh,
wow. That's fate.

-Wow.
-Wow.

And that's my daughter

on the front of the packaging.

So, it's really been

an amazing journey.

Christmas of 2020 --

I was a wedding
photographer previously,

lost all my business with COVID.

And then, Christmas
night, I had this idea,

and I took my $25,000
personal savings,

built a Kickstarter. Damn.

I filed all of my trademarks.

I did the provisional patent,
the website, an initial logo.

Okay, what does
it cost landed? All --

So, landed is about $13.

Including all the components?
Including everything.

And that's -- And what
do you sell it for online?

I sell them for $49.99, so
we have about a 70% margin.

So, tell us about the business.

Yeah, so I launched my
Kickstarter March of 2021.

How much did you try to raise,

and how much did
you end up raising?

So, I had tried
to raise $25,000.

I ended up raising
$30,000, all organically.

I immediately took that $30,000

and started the
molds for the tins.

I was short on money
for the production run,

so I sold my car.

We received the product
November 15th, and then

we ended up closing out 2021
with total revenue of $170,000.

-Wow!
-Wow!

Good for you.

And what are your
year-to-date sales?

So, I ran into an
issue. [ Laughs ]

So, I knew that I was going
to receive a purchase order,

and they wouldn't tell me

how much inventory
it was going to be for.

That's difficult.

But in order for
me to get it in time,

I needed to place the order

before I would
know the quantity.

So I ordered 5,000 units.

How much did they
wind up ordering?

So they only ordered
a few hundred cases.

Oh, God.

I did find an investor.

They invested $85,000 to pay
for the inventory and the shipping.

They took 10%, and it has been

the biggest blessing
to be able to get there.

Sales year to date,
I think, are $55,000.

And what do you think it
will be the end of the year?

I think I'll be around
$400,000 at the end of the year.

$400,000? How much
inventory do you have on hand?

What is it worth right now?

I have just over


and that's worth about
half a million in revenue.

Okay. I don't feel
like I've gotten

the -- the vision
of growth clearly.

Okay. I like the product.

However, as for
the business, I'm out.

Okay. Thank you
so much, Daymond.

Kayla, this is very admirable,
what you've done, okay?

Thank you. I'm out.

This is not a business for me.

Okay.

Kayla, one, quite
impressed... Thank you.

...that you didn't know
how to do any of this

and you created rapidly
a really wonderful toy.

But I go for the three P's --

passion, perseverance,
and product.

And for me, you're passion,
you're perseverance.

But the product just isn't
the right product for me.

Okay. Okay. I wish you
good luck, but I'm out.

Thank you so much.

Yeah, Kayla, you
deserve a ton of credit.

I mean, the adversity
you fought through.

But you're also
in a great position,

and I don't think you're giving
yourself enough credit there.

And if you just keep it simple,
you can have a business

where you're making $200,000,
$300,000, $400,000 a year,

starting next year, and
then look to scale. Okay.

I think you're trying to
do too much too soon.

Okay. So for those
reasons, I'm out.

Well, I appreciate
that. You're welcome.

I'm happy you saved
the best for last.

I don't think there's a more
adorable product than what I see here.

It's well-designed. It's
well-thought-through.

Everything packages so well.

But more important
than the business,

[Voice breaking]
you've got the courage.

Thank you.

You demonstrated the
courage all along the way

to be who you wanted to be.

I'm so overwhelmed
by that, alright?

I think the idea that you
became a single mother --


say that actually do it.

You went and did it,

and you deserve the good luck

of finding your
daughter, of course.

When I was a little kid,
my mother invented this.

Her toys for the ten of us
were the Sears Roebuck catalog

where we cut out beds and plates
and sheets and made our houses,

and she painted
all the clothespins

that she hung the wash
with, all different figures,

and we played with it for
hours and hours every day.

I don't know why
they're not buying in,

but if they're not buying in,

I'm going to make you
a greedy offer... Okay.

...because I have
no competition. Okay.

Okay. So, I would like
to have $150,000 for 30%

and $5 per portable
dollhouse you sell

until I recoup my investment.

O'Leary: That's
outrageous! Whoa.

Wow. Barbara!

Ooh, Kevin, how can you
make an offer like that, Kevin?

Oh, my goodness.

Would you be willing to either
go down to 20% with that deal,

or if we did the 30%,

would you be able to go up to
$200,000 for the investment?

I would give you $150,000
and another $100,000 credit line

if you keep it at 30%.

O'Leary: You know, Kayla,
it occurs to me that she said

all those nice things to you just
before she became a savage.

[ Laughter ] No,
not hardly a savage.

I've already given


so that would only
leave me with 60%.

Do you know what?
I forgot about that.

Yeah, I'll take 20%,

but I want $7 per
portable dollhouse.

It just doesn't end.

Until paid back only.

Deal. I'll take it. It's a deal.

Cuban: The right decision. Oh,
my gosh! Thank you so much.

[ Laughs ]

Thank you so much.
It's my pleasure.

You're my girl. I appreciate it.

I am your girl now. You know
that, right? Thank you. I appreciate it.

Thank you so much.

Ooh, I'm excited.
Thank you guys so much.

O'Leary: Congratulations, Kayla.
This is like a dream come true.

Congratulations.

♪♪

I created this business for
my family, for my daughter,

and every day, I
show up and work

to show her what is possible.

And today is just
the greatest example

of how far you're able to go

when you really put your
mind and work into something.

♪♪

♪♪

Narrator: Next up is a food
brand inspired by recipes

handed down from generations.

♪♪

♪♪

Hola, Sharks.

My name is Hector Saldivar,

and I'm from
Tiburon, California.

"Tiburon" means "shark."

[ Scattered laughter ]

I'm seeking $500,000 in
exchange of 5% of my company,

Tia Lupita. Oh, God.

Sharks, I'm going
to ask you for a favor.

Raise your hand if
you like to eat tacos.

Come on. We all do.

No tacos for you, Daymond?

I hate tacos.

Whoa. Raise your other
hand if you like to eat

clean, simple ingredients.

Now try to touch your
ears with your elbows.

Nobody can do that.

You can't. It's impossible.

Yeah. Believe me, I've tried.

It's impossible, just
like it's impossible

for current Mexican
brands to bring innovation

and keep their authenticity
using artificial ingredients,

binders, and fillers.

Growing up in Mexico, we don't
inherit cars, jewelry, or money.

What gets passed down to
us are our family recipes. Mmm.

Enter Tia Lupita Foods,

the better-for-you
Mexican-inspired food brand

that uses clean,
simple ingredients

that starts with one of the
world's most sustainable plants,

the cactus.

Cactus, or nopales,
is Mexico's sweetheart,

a low-glycemic superfood
that we use in our line of

grain-free tortilla
chips and tortillas.

Sharks, be prepared
to fall in love

with our five flavors
of tortilla chips.

They have all the crunch
and texture that you're used to,

but are packed with superfoods,

making them a
great source of fiber.

And we have two
types of tortillas,

a grain-free and cactus made
with upcycled okara and cassava,

and a corn and cactus.

Now, if you're wondering
why they're green,

it's because of all the dinero
we're going to make together.

[ Scattered laughter ]

At Tia Lupita, we
believe two things --

food is love, and eating
good should be easier

than trying to touch your
ears with your elbows.

So who's ready to make every
day Taco Tuesday in America

with Tia Lupita?

Nicely done.

Greiner: So, I
have some tortillas.

There's a bag here
of cactus tortillas.

Hot! It's very, very hot.

And then there's
Habanero, Chipotle,

Salsa Verde, and Hot Sauce.

Yes. Oh, it's hot.

[ Laughs ]

You should have started
with a little Salsa Verde,

and then go into the
medium body Hot Sauce,

which is what we call the OG,
then Chipotle and then Habanero.

This is one of
the first iterations

of grain-free tortilla
chips that tastes good.

Thank you so much,
Mr. Wonderful. It means a lot.

The tortillas are good,

and it's only 45 calories
for a whole tortilla?

Absolutely, yes.

Give us your background and why

you decided to go
into your business.

I'm originally from
Monterrey, Mexico.

I moved here 18 years ago.

My mom, Lupita, would
ship me care packages,

like a regular mom does.

Now, granted, a regular
care package would be

a sweater or some socks,

maybe a little
money, if you're lucky.

My mom would send me hot sauce.

It's a family recipe hot sauce.

It had been passed down
to a single family member.

So I started sharing that
with friends and colleagues,

and everybody started falling
in love with my mom's hot sauce.

Then they started
planting the seed.

And so I started
ideating this --

bottling and
commercializing this,

my mom's hot sauce.

I came to the realization that
the current Mexican brands

or Hispanic brands
here in the United States

were not doing
anything to innovate.

We would bring innovation,
and we were trying to change

the perception that
Mexican food is unhealthy.

And that's when I decided
that Tia Lupita would become

more than just a
hot sauce brand.

It would become
a platform brand.

Hector, how many
years ago was that?

We started in 2019.

Tell us what your revenues
are for the last three years.

So in 2020, we did $900,000.

-Wow.
-Wow.

Okay.

In 2021, we did $1.5
million. Oh, my God.

Yeah. And this year,
we're going to do $4 million.

Wow! Are you profitable?

Last month was our
first profitable month.

Congrats. Congrats.
Congratulations.

Thank you so much.
We're very proud.

And where are you selling?

We're in Sprouts nationally,
five regions of Whole Foods,

key regional accounts
from Wegmans to Walmart.

We have Target on site, Publix.

Do you have to pay
to get listed there?

And, actually, last year, we
took a huge hit with slotting.

How big is that hit?

So in 2020, we
lost around $700K.

Okay. Ohh.

In 2021, we lost $1.2.

Ooh, so how much have
you invested or brought in?

We've raised $1.9.

Corcoran: Wow.
There you have it.

$1.9 so far, and now
we're doing a full seed.

What percentage of the
company do you own?

I still own around 65%. 65%.

And how much of your
own money did you invest?

Around $700K.

Wow. Wow. You're
all in. Good for you.

We did a line of credit
against our mortgage

and all that. On your home?

Yeah, on our home. Damn, Hector.

Yeah. Well...

at projected $4
million in sales,

you're doing something right.

But I just don't like...

It's not that I dislike
Mexican food.

I just don't love it.

I don't believe that I would
have the passion to be able

to help you with
this, so I'm out.

Thank you so much,
Daymond. I appreciate it.

I think this is a long journey
and a cash-rich journey.

I don't think the 5% for
$500,000 is going to get you there.

I'm out.

Thank you so much, Barbara.

Yeah, Hector, I'm
along the same lines.

I think the tortillas
were great,

but you're in a
business that's a grind.

I just don't see the
numbers working for me.

So for that reason, I'm out.

Absolutely. And so,
Mark, I appreciate that.

And we do have a
path of profitability.

We proved it last month.

Let's focus on that, Hector,
because you never told me

what it costs you
to make the product.

Right. So walk me through

the cactus grain-free sea salt.

Let's just go with this one.
What does it cost to make this?

Yeah, that bag cost us $1.50.

Yes.

And then we retail it
between $3.99 and $4.99.

It's competitive with other

grain-free tortilla
chips out there.

I have been looking for a
product for Chef Wonderful

that's grain-free, 'cause that's
my whole shtick these days,

is healthier eating,
healthier living.

And this is one of
the best I've tasted,

I gotta tell you that.

But these numbers are
tough. They're very tough.

Hector, while he's
thinking. I'm going to jump in.

I think you've done
a really great job.

What concerns me, though,
is you have a lot of debt.

There's a lot
going on financially

that really worries me.

So for me, it's not
the right investment.

I'm sorry. I'm out.

Thank you, Lori.

As usual, all roads lead
back to Mr. Wonderful.

I've heard that so many times.

Unfortunately, so have we.

It's a tough deal.

I think you asked too
much, because Lori's right --

You got a ton of
debt on this thing,

and you've mortgaged
your house, which scares me.

If I can say one more
thing, I just want to

try to sell myself,

because I haven't
had the opportunity.

I've worked so hard
for these last four years.

They've been everything to me.

It's honoring not only
my culture, my heritage,

my mom, right?

Today, one month ago,
my dad passed away,

and I should have been there

with my mom right now
in his one-month memorial,

but I couldn't say
no to this opportunity.

It's been a journey,
but we're all in.

Okay, here's an offer.

I'll give you the
$500,000 in debt.

It's going to be 36 months.

I'm going to do interest
at 12.5%, which is current.

Corcoran: Ouch.
Sorry. That's current.

That's market, Barbara.
Sorry. Still ouch.

Yeah. And I want


Oof.

I'm taking a huge risk
here, Hector. Huge.

This is like a line
of credit you're...?

Yeah, I'll do it
as a line of credit.

You draw it down, but I
want first money back first.

Absolutely. Are you
allowed to subordinate?

Are you able to
subordinate the debt?

Yes, absolutely. Yes. Okay.

The concern here is the
double of the equity that I --

I understand that, Hector,
but you're asking me

to get behind this product
with my whole team, back you.

If I do this deal, I can't
do another one like it.

This is my deal in this space,

so that's a decision
I have to make.

And, frankly, I'm not
getting out of bed for 5%,

Hector, I'm sorry.

You don't have to do this deal,

but it's the only
one I'm going to do.

♪♪

♪♪

Narrator: Four Shark are out.

Hector has an
offer from Kevin --

$500,000 as a line of
credit at 12.5% interest

for 10% of his grain-free
Mexican snack company,

Tia Lupita.

You don't have to do this deal,

but it's the only one
I'm going to do, Hector.

Think you'd get a better
deal elsewhere, Hector,

speaking on your behalf.

That's a rich deal.

Well, you didn't make
him an offer, Barbara.

I was honest about
that right up front.

Barbara's right. Barbara's right. You wanted
an offer on "Shark t*nk," you just got one.

You may not like it, but that's
why they call it the Shark t*nk.

You can counter.
You can counter.

[ Sighs ]

Yeah. I mean, I think,
Mr. Wonderful, the 10%

is the only thing that
is -- that is rattling me.

I don't know if it's
worth anything yet.

Do you know what it
takes to sell a company

in the snack area?

You gotta get to $50 million

before any strategic's
even interested.

What are you willing to give?

You knew we weren't gonna for for 5%. And,
Hector, here's what I'm also thinking --

You're going to
keep raising money.

I'm going to get diluted.

I mean, I've seen this
movie before, my friend.

If I start at 5%, I'll
have less than 1%

by the time you're finished
getting the $50 million.

Would you do the
same deal for 7.5%? No.

I see the value of you
coming in, and, you know,

you would bring so
much, but I don't know

if that's the right
deal right now for me.

I'm different than
any investor you have.

He's more arrogant.

I'm sorry. I know
my value, Hector.

You gotta make a
decision. I'm not flexible.

Is there any flexibility
with the equity?

$500,000 -- I cry like a
baby when I lose $500,000.

Yeah. I get on my
knees and I break down.

And it happens a lot.

[ Laughs ]

It never happens.
Well, it's a loan.

So why don't you
ask him for $750,000?

Is that a possibility?
Can I -- O'Leary: No!

Lori -- Lori didn't even
make you an offer.

Then why don't you
ask him for a million?

You can offer -- You can
ask for anything you want.

The answer's no.

Great deals, both
sides feel pain.

I'm feeling pain about
$500,000 I'm putting at risk.

You're feeling
pain about the 10%

that doesn't have any value yet.

Kevin, it's a loan.
How is it a risk?

Greiner: Yeah, it's a loan.

It's the dilution. He's gonna go
issue shares. I'm gonna pay you back.

That's diluting me
down from 10%.

Well, why don't you
make it non-dilutable?

I could do that,
but that would...

We can work that in. We'll
make your shares non-dilutable.

And you keep -- You'll stay
at 5%. In exchange for what?

I'll do the $500K as a line
of credit in exchange of 5%,

and that 5% that you
own will not get diluted.

Not bad. So non-dilutable, yeah.

That's fair. Take
the deal. Lock in.

Mm.

That's a good deal
right there for you, Kevin.

Hector, you have a deal.

Yeah, Kevin!

O'Leary: Good job,
Hector. Ohh, yes!

Ahhhhhhhhhh!
Tortillas for everybody!

Mr. Wonderful, it's a pleasure.

You, too, man.
Thank you so much.

Great, great. That's really
great. Yes, thank you so much.

Congratulations,
Hector. Well done.

Thank you so much,
guys. I appreciate you.

♪♪

Yeah! [ Grunts ]

Negotiating with Kevin has
been one of the hardest things

I've ever done in my life.

He has all the leverage,
all the experience.

I mean, you know, that's why
he sits in the middle,

and he's been here
since the beginning.

I can't wait to work with him.

It's going to be
an amazing journey with him.