Tonight, Jeff foxworthy
joins the shark t*nk,
where hopeful entrepreneurs
come seeking an investment
from the sharks,
five powerful, self-made
investors worth billions.
In the t*nk, the sharks
are ready to invest using
their own money...
But only for the right person
with the right business.
T-shirts, hats, and t*nk
tops are only the beginning.
I'd like to introduce
you to vinny pastore,
star of "sopranos." You
know you're a redneck
when your kids are strapped
to your luggage.
And if the sharks
hear a good idea,
they'll fight each other
for a piece of it.
I think that he's giving
you a sucker deal.
He makes noise. Typical. Nobody
wants to do business with you.
My deals are good.
But first the entrepreneurs
must convince a shark to
invest the full amount
they're asking for or they'll
walk away with nothing.
We certainly don't want to
give up our whole dream.
You're not selling that much. Worse
thing I've heard on this show.
Who are the sharks?
Kevin O'Leary knows
how to make money.
He started a software
business in his basement,
which he eventually
sold for $3.2 billion.
Barbara corcoran-- this
fiery real estate mogul
turned a $1,000 loan into
a real estate empire
worth hundreds of millions
in the shark-filled
city of Manhattan.
Daymond John turned
rags to riches
with his clothing brand
fubu, which has grossed
over $6 billion in
worldwide retail sales.
Robert herjavec,
the son of a factory worker
turned technology mogul,
sold his first
Internet companies
for over $350 million.
And Jeff foxworthy,
the best-selling comedy
recording artist of all time,
used his business savvy to
brand his stand-up routine
into a multimillion-dollar
merchandising empire.
First into the shark t*nk
are Darryl and Randy lenz
with a product
to help ease the stress of
traveling with children.
Come on, honey.
♪♪♪♪♪
Come on.
Come on, honey.
Hi, sharks. My name is Darryl.
This is my husband Randy.
We're from Atlanta, Georgia.
And our business is
ride on carry on.
We're asking for $50,000
for a 25% equity
in our business.
Now does this look like
the way to travel?
Anyone who's traveled today has
seen this scenario play out
in airports all across
the country every day.
Now I've been a flight
attendant for 27 years.
I've watched countless families
deal with the frustrations
of traveling with
small children.
Anyone who has kids knows
how stressful it can be.
By the time you arrive
at the airport,
you're dealing with...
Pulling your cumbersome stroller
out of the trunk of your car...
Oh, can you
hold my daughter?
Oh, thank you. Oh, sorry.
Sure. Be happy to.
Oh.
By the time you
get to your gate,
you are tearing your hairs out.
It's just a nightmare.
That's why Randy and I
came up with the ride on carry on.
Now the ride on carry
on instantly converts
any wheeled carry-on luggage
into a travel stroller.
It carries any child
safely and comfortably
through any airport,
train station, or bus station.
Once there, your
little one hops out.
The ride on carry on folds
against the top of the luggage.
It easily stows in
the overhead bin.
When you get to your
final destination,
you pull your luggage
down, you open the seat,
your little one hops in,
buckle the seat belt,
and away you go.
It's so easy.
We've also designed a
headrest for taller children.
It easily converts into
a handy tray table
for eating and playing
while you wait.
Now we have sold thousands
of these on the Internet.
But we need your help getting
into the retail market,
because it is time for people
to take the stress out of
traveling with little ones.
The kids absolutely
love the ride.
Parents love the convenience.
Any questions? Yes. Your
daughter's not breathing.
Uh, y-yeah, she's quiet.
She looks--she's not--
she's not happy because she's
not in a ride on carry on.
I thought the ride and carry
might have k*lled her.
Yeah, exactly. Exactly.
Darryl, you have a lawn chair
strapped to a piece of luggage.
Exactly. well, that's
where we started.
My friends and pilots
and flight attendants
helped us design, uh,
the whole chair.
They took our
prototypes on trips.
And it just was phenomenal--
the attention everybody got, uh,
wheeling through the airport--
and that's when we knew
we really had something.
And what age will it work?
We, um, my daughter used it till
she was about 6. Children--
is there a seat belt on it?
There absolutely is a seat belt
with a crotch strap, yeah.
selling the chair separately,
and then I strap it on to any piece
of luggage? Yes.
That's how we designed it. You said
thousands have been sold. How--
we sold up--almost
What has been your
number in the last year?
We sold 2,000 chairs last year.
At what price?
$39.95. and
what do you pay to make one?
$7. $7?
Yes. good margin.
What's your background? I'm
a pool man, if you can believe it.
Were you married before and
he-- Randy was the pool man?
No. no, no, that never happens.
It's only in the movies.
Oh. yeah, yeah,
only-- only in the movies.
We met in a bar in fort
lauderdale 19 years ago.
Stick with the pool man story.
It's better.
Yeah, exactly.
Exactly. Exactly.
First of all, I-i love
a-a woman named Darryl.
Thank you.
Because my wife's name is gregg.
Oh. I feel for her, too.
My first thought is, you've
never had any safety issues?
Because I do worry about
the liability on this.
Absolutely.
It's been safety tested in the U.S.
and in Europe.
Passed all the safety tests.
Uh, all the chairs we've sold
have had no safety issues.
We haven't even had
one complaint.
How long have you
been doing this?
When we came out with the idea--
our son was 2 when
we thought of it.
He's 16 now, but we--
you've been doing
this for 14 years?
The first five or six years,
we played with the idea.
I had to convince my husband
to invest in the patent.
You know, that took some time. We
mortgaged the house for $150,000.
Mortgaged the house. Did you
make back that $150,000?
We have no debt. Yeah, we have no debt.
We're in the black.
- And you made it back with the chairs?
- Yes.
Wow. good for you. What do
you want to do with the $50,000?
Product awareness.
Get our web site--
it's not optimized at all.
Optimize the web site.
You know, people don't
know it exists.
Let's get back to the
path to riches here.
Forget all this "you do
your own retail" stuff.
You know that's a slaughterfest.
We really thought that, um,
getting into the retail market
would be the way to go.
We want people to
have the opportunity
to buy this product.
As a parent, I would
be interested
to have a-a major
luggage manufacturer...
Right. have--have a model
where this is built in.
The reality is, though,
luggage is very expensive.
Is somebody gonna buy a
special piece of luggage
just to haul their
children around?
What if their children aren't traveling
with them? I'll tell you, Randy...
So-- you could add one
feature to make that happen.
Make it so I could check the
kid with the luggage.
And how much
inventory do you have?
Zero.
How many orders do
you have pending?
We have 2,000 right
now, pending--
so you're saying that there
are retailers out there
or somebody existing saying
that we need 2,000 of these?
Yes. I think
you've got a great idea.
And that's 90% of it. When we
heard you might be on, we said,
you know you're a
redneck when your kids
are strapped to your luggage going through
the airport. Yeah.
That's not even you might be. You are.
You are at that point.
You know what? I appreciate
your enthusiasm.
I-I am just not
into this business.
I'm out.
Love the fact that you're
holding hands up there.
That's great.
For me, the path to what you
need to do is so obvious.
And you may not agree with me,
but I think it's a
licensing idea.
I don't think you need to
be here asking for money.
I would license it. I'm out.
Couple of years
ago, "businessweek"
picked this as one of their
top 25 best... top...
New
products of the year.
And we were the only company that
wasn't fortune 500. Fortune 500.
I'd like to put an
offer on the table.
$50,000, exactly as
you stated, for 25%,
with the only contingency
being that we brand that tray
with your ride on carry
on, big and bold.
I think it's a catalog sale.
I think it's a retail sale.
I don't go along with
the way of thinking
that it should be sold
to a luggage company.
I think it's--it's separate. Well, I
love--i love the negotiation, Barbara...
Yeah. what? Where you offer 'em
exactly what they're looking for.
Hey, it's worth it.
I could see this thing
selling like hotcakes.
Oh, absolutely. I
think you need help marketing.
Oh, that's what we need. We definitely do.
We need your help.
We are working full-time jobs--
you are adorable together.
Thank you. Okay, Darryl
and Randy, I'll make you an offer.
It goes like this.
Barbara has offered Randy
and Darryl $50,000
for 25% of the company,
which is what they
originally asked for.
But Kevin has a competing offer.
Okay, Darryl and Randy,
I'll make you an offer,
and it goes like this--
instead of, um, taking 25%,
I'm willing to do
it for 20%, but...
Stop manufacturing any
of this on your own.
Stop selling it on the
Internet completely.
And you use those
dollars to go find me
two different manufacturers
that make those bags
that own 80% share
of the market,
'cause I don't want
to do the work.
I just want you to
bring them to me,
and I'll negotiate
the license deal.
When they're ready to negotiate,
you give me their phone number,
and you'll keep 80%,
and I'll take 20% of
everything forever.
You're gonna say, "wow.
"I could take uncle
Kevin's $50,000,
live off that"-- can you even imagine
calling this guy "uncle Kevin"?
I thought he--
I thought he was mean Kevin.
No, I-- I'll let
you in on a secret.
Everybody calls me Mr.
wonderful.
Oh, there we go. 'Cause I don't actually
know the luggage business, guys,
but I certainly know how to
negotiate a license deal.
I'm very good at that.
I thought you knew everything about
every business. No, but I'm willing
to admit what I don't
know, Robert, unlike you.
I think Barbara's giving
you a great deal,
and I that he's giving you a sucker deal.
Um, I'm out.
Oh, listen to that.
He brings no money.
He makes noise. Typical. Okay,
so you have two offers.
Barbara keeps you in a
manufacturing hellhole.
For me, it's a small,
focused period of time
where you go get me
two manufacturers,
get me the phone number of
the licensing guy in each,
and I'll come home
with the deal.
You know, he's
making a licensing deal
sound like it's rocket science.
It really isn't.
Any half-decent attorney
could negotiate that deal.
Don't be wowed by
his fancy words.
Just look at this guy.
Look what he looks like.
And think, do you want
to do business with this guy?
What does that mean?
Exactly. that's why they call me Mr.
wonderful,
because every deal that comes
out of my lips is wonderful,
if you really think about it.
Right, right.
And by the way, to Kevin's
point about licensing,
I'm not ruling that out.
I just don't like putting
all my eggs in one basket
because what you need more than anything
else is marketing help. Right. Correct.
Okay, that's enough. It's
time to make a decision.
What are you going to do?
We want to go with Barbara.
We think we'll have fun
working with Barbara. But
I still love you, Kevin.
- Right decision.
- Oh, you broke my heart.
My pleasure. Great job. Yay! Thank you,
Barbara! We're gonna have fun working together.
Thank you so much.
Appreciate your time.
Thank you.
Whoo-hoo!
Awesome. whew.
Good deal, Barbara.
You know, the main point is,
is that nobody wants to
do business with you.
Have you gotten on to that?
I--you know, my deals are good.
When they actually happen...
Yeah.
They make money, and
that's all that matters.
Everybody says "no, thank you.
No, thank you. No, thank you."
No, Barbara, because I think
when they finally figure it out
after two years of
sweating it out
trying to manufacture
this stuff,
they'll say, "I wish I'd done that
deal with uncle Kevin." I'm sure.
I'm sure you're right. Exactly.
I-i know I'm right.
Kevin, who exactly is calling you Mr.
wonderful, by the way? You are right now.
We are so excited that we
were able to make a deal,
but we are even more excited
for the kids of America
that can finally have fun
traveling through an airport.
Yeah.
♪♪♪♪♪
Last season, we saw
Tiffany krumins
strike a $50,000 deal
with Barbara corcoran
for her children's medicine
dispenser Ava the elephant.
Let's see what she's up to now.
♪♪♪♪♪
A year ago, I walked
into the shark t*nk
with a hand-molded prototype
and just an idea.
And I never would've thought
it would turn into
something this big.
And now 75,000 Ava the elephants
just arrived from our
manufacturer in China.
We're getting ready
to box them up
and send them out to cvs
stores all across the nation.
Now millions of parents
caring for millions of kids
are going to have my
little Ava the elephant
to help with medicine time.
Cvs is so excited about
Ava the elephant,
they're gonna put her picture
on every prescription
bag for children.
A year ago, I never would've
imagined walking into a store
and seeing my Ava the
elephant on the shelves.
Yes. oh, my god. I can't
believe it's finally here.
We're on track to have over 2
and a half million dollars
in sales in just our first year.
I never could've done this
without Barbara corcoran
and her investment.
I'm Ken howell,
and the name of my business
is uncle zip's beef jerky.
What makes my beef
jerky so special--
it comes from a family recipe.
Mine's fresh and 100% natural.
Hey! anybody need jerky?!
People in the town, they
absolutely love my jerky.
They come to the sporting events
that I go to, they're always,
"uncle zip! Hey. What's going on?
Give me some jerky.
Give me some jerky."
Hey! basically, I'm
a one-man band.
Uncle zip! What's
happenin', y'all?
This isn't just a business to me.
This is a passion.
My dad originally
started the business.
He was the original uncle zip.
About five, six years
ago, he passed away.
So I want to continue on his
legacy and make him proud.
I know my business can
be really successful
and just with a
little bit of help,
I can take it from a
hometown business
to a nationally recognized brand
in stores everywhere, all
across the United States.
♪♪♪♪♪
Hi. my name's Ken howell.
I'm from fayetteville,
north Carolina,
and the name of my company
is uncle zip's beef jerky.
Now I'm asking for a
$25,000 investment
for a 20% partnership
in my company.
Now what makes uncle
zip's beef jerky better
than any other beef
jerky out there?
It's the fresh taste.
You see, I don't use any
additives, no preservatives.
A lot of people, when they
have that mass-produced stuff,
they say it's tough
and they taste that
chemical taste, you know,
that chemical blah taste.
Mine is fresh, fresh made.
Now I got a sample
if you want some.
Here you go. You know, I tried
that Jeff foxworthy beef jerky.
What did you think
of it, Robert?
Well, I loved it, Jeff.
How does this compare?
It is really, hands down--
careful now, Ken.
Everybody loves
the beef jerky.
What's the story? Is this
the best you've ever eaten?
It's good, very good.
Thank you. I appreciate that.
Ken, why is it called uncle zip?
My father was actually in
the yellow page sales,
and he was really, really good.
He could zip in, zip out
with a sale, so zip stuck.
Well, he originally started the beef jerky.
He was like,
"well, you know, we're gonna
do zip's beef jerky."
So I said, "yeah, yeah," then
all of a sudden, he goes,
"yeah, good ol' uncle zip,"
and I went..."
That's it. Uncle
zip's beef jerky."
I said, "that'd be perfect."
Now everybody knows me as
either uncle zip or jerky man.
Honestly, I can go walking
into a-any store,
and I'll hear, "jerky man. Hey,
hey, jerky man. Jerky man.
Jerky man."
I'll tell you something. This
is pretty good. Thank you.
How does it stay in the package
without preservatives,
without chemicals? Does
it go bad right away?
No, it doesn't go
bad right away,
but here's the thing,
I put about a two month,
um, shelf life on it.
Isn't that a problem?
Doesn't that beef jerky
stay on for years on the shelf?
Exactly, and the reason why
it does stay on for years
is because of those--
like I said before,
is those chemicals
that are in there,
and that's all you're tasting.
How much sales have you
had in the last year?
Right. well, unfortunately...
In the last--in the last--
oh! you're starting off with
"unfortunately"? Let's go.
Well, in the last couple of--
actually, the last seven years,
I-I've been kinda down
for the simple fact that
I lost my--i lost my father.
I'm almost in a
rebuilding stage.
You've been doing
this for seven years?
I-I've been doing it for right at
ten years now. What are your sales?
The highest sales, I
was right at $100,000.
That was right before
my dad took ill.
And what were your
sales last year?
Um, it was-- you're
probably looking--
it was about $40,000 or $50,000.
Now what do you want
the $25,000 for, Ken?
The $25,000 is--we're gonna
start out by upgrading
the--the, um,
processing facility
I already have.
That's gonna allow us
to be able to expand into
these larger markets.
Once we get in there, we'll
have small processing plants.
And you're looking to
open up on of these,
you're looking about
$60,000, and that's the--
but, Ken,
isn't that just crazy?
Every time you open
up a new region,
you need a new processing plant?
Well, that--that new region
is gonna be able to put
fresh beef jerky on the shelf
that otherwise has been
sitting there for a year.
And that's the thing--
nobody knows really
fresh beef jerky.
I don't think the
problem is gonna be
having the local
processing plant.
I don't think your shelf
life is long enough.
You can't be making a
living on--on this.
Well, I-i do have a
little part-time--
I got a carpet business that I do--do
part-time, too. Ken, it's been ten years,
and you're still not
making a living doing it.
I'm struggling to understand
why you're still doing it.
Are you still doing it
because it's a business?
Is this some kind of a
tribute to your dad?
It does lean a
little bit towards,
that was my dad, and he
wanted the business.
And we talked many times
about wanting to
put it on shelves.
And I just--i just
know I can do it.
Just like any business, when
they hit that--that little hump,
they just need that little boost
of capital to get rolling again.
And I--and I really
think this right here,
partnering up with you guys--
one of you, two of
you, all of you--
I really think that we can
get this back--back on track
and get going again.
Ken, we
all have a dream.
But not only does every
dream have a price,
every dream has a shelf life,
just like your beef jerky.
Right.
This isn't an
investable business.
I'm out.
Okay. okay.
This is a small business,
not an investment.
I'm out.
I'm gonna tell it the way it is.
Look, I love the story,
I love the past,
I love all that stuff, but
I'm an investor, all right?
What you presented is a
small, regional brand--
a micro brand, really small.
It's good. I ate it. It is fresh.
That's great.
The trouble is, you're
not selling that much.
I'm out.
Three sharks are out.
Ken only has two more
chances to make a deal.
All right, Ken, I'm gonna--
I'm gonna say this.
You've got a good product. Okay.
It tastes fresh. It tastes good.
I'm out...
But mainly because I'm in the
same business. Right, right.
But I think you've
got something here
that you could make a good
living on with the right things.
I don't think it's
big enough yet
for other people to come
in and invest in it,
but your product's good
enough that you could make
a good living on it. You
know, you made $100,000
in your third year in
the business, okay?
Then you came through
years of hardship
for one reason or the other.
Much more difficult
obstacles to overcome
than selling beef jerky. Right.
There's no help you
need from anybody
to get this back on the road.
You've got it in you. I don't
think you need us here.
You're very capable of
getting back on your feet,
so I'm out.
All right. Thanks, y'all.
I appreciate it.
We'll see ya.
I'm just gonna keep pressin' on,
because that-- I-i know
this will make it.
Whew.
Oh.
And...
And I
know they said that,
are you holding on because...
Whew.
Maybe I am.
Maybe I am holding
on 'cause of my dad.
But it's something
I love to do, too.
I just...
I'm not gon' quit.
♪♪♪
My name is Mike.
My name's shon. We're
from parkland, Florida.
We're the founders of the next
great American clothing company,
hillbilly brand.
The term "hillbilly" is
not what it used to be.
It represents the country
lifestyle, outdoor living.
Please are proud to wear it.
It's a badge of honor.
Our wives thought we were crazy
when we first started
this company.
But after selling out
at our first event,
they started to come around. Well,
they still think we're crazy,
but now they're true believers. Right
now, the majority of our sales
are coming from events like rodeos,
mud fests, concerts.
When people pass by our
tent to see our brand
for the first time, it's
always the same reaction.
They're smiling, they're
mouths are open,
they're posing for pictures
in front of our sign.
I mean, people just
love the brand.
When we set up at an
event, we bring the party.
We have the country
music crankin',
we've got the hillbilly
hotties there.
We've got the crowd
at the booth,
and everybody's
having a good time.
And we're bringing that same
party to the shark t*nk.
♪ Hillbilly, hillbilly
Saturday night ♪
♪ hillbilly... ♪
Yeah, I want the camo.
Thank you.
- Can I have a cowboy hat?
- Thank you.
♪♪♪♪♪
You look ridiculous.
Hi, my name's shon lees. This
is my partner Mike abbaticchio.
And we're co-owners
of hillbilly brand,
a country lifestyle
clothing company.
We are here to ask for
a $50,000 investment
for a 25% equity stake
in our company.
Mike and I have known each
other since elementary school.
We were always looking
for a business to start,
but we never really found one we
enjoyed doing in our spare time.
That all changed on a
ski trip to Colorado.
On that trip, Mike showed me
the hillbilly logo he created,
and I thought it was great.
We went to our first event,
a small local rodeo,
and we sold everything we
brought in four hours.
We knew we were
onto something big.
Now the term "hillbilly"
is not what it used to be.
People love the brand.
They wear it proud.
It represents their lifestyle--
the country lifestyle.
I want you to think outdoors--
hunting, fishing, skiing,
and more. And country music
and Nascar fans are among
the most loyal consumers. And
there's millions of 'em,
so this is just the
tip of the iceberg.
T-shirts, hats, and t*nk
tops are only the beginning.
Our customers are asking us for
blue jeans, bathing suits,
fishing gear, hunting
gear, and backpacks.
We can put this logo on
just about anything.
I'm telling you guys,
the product and licensing
opportunities are endless.
With the right manufacturing,
distribution, and marketing,
hillbilly brand will
be a household name.
Everybody's got a little hillbilly in 'em.
Find yours.
Find yours. And, Jeff,
you might be a redneck,
but we know you got a
little hillbilly in you.
What is the difference between
a hillbilly and a redneck?
I've always defined redneck
as a glorious absence of sophistication.
And it really didn't matter
how much money you had.
Right. I mean, you know,
I've known rich guys
that came home and popped a beer
and sat out on the porch and
watched the bug zapper.
I mean, that's
quality entertainment.
I-I mean, I think it's
the same attitude.
It's a fun, "don't worry about
too many things" kinda attitude.
And--and I liked your stuff.
Guys, do you have any sales?
Yes. yes. So far,
we've sold about $271,000
in a little over 3 and a half years.
Never answer a sales question
with what you've sold
over three years. Yep.
That always makes me think
your sales aren't very good.
What'd you sell in
the last 12 months?
So far, about $50,000 this year,
we're on track to do $60,000.
Do you have any distribution?
Where's this stuff sold?
Uh, we do event sales.
We do about 12 a year.
One a month. You have
no retail distribution.
Well, we just actually
signed a vendor agreement
with sports authority, and we're
gonna start in approximately
And we got picked up
by a distribution
company called barjan,
which distribute products
to all the travel plazas
and truck stops
across the nation.
So you own the name hillbilly?
Yes. We act--we own--
in what categories?
We own--we own the brand
as far as the design logo
and we own just the word
"hillbilly" for apparel--
belts, t-shirts, hats.
And we have three trademarks in the U.S.
and one in Canada.
Mike, here's
my challenge with it.
How would you ever get
your name out there?
Like, the advertising
costs to build a brand,
if you're not a brand already,
would cost millions of dollars.
You're asking for $50,000.
Well, here's--here's
what we've done so far.
We've closely aligned
ourselves with country music.
You know, we go out
to the concerts,
we set up our tent,
and most of the time,
we sell more t-shirts
than the artists do.
So in a typical event, how
many t-shirts would you sell?
It's it's a big concert,
um, if it's 20,000 people,
we can sell as much as $10,000.
But that--that's
not a net number
because I-i mean, I sell
t-shirts at concerts...
Yes. and I know that the
venues b*at you over the head.
I mean, there's kind of a low
margin on that, isn't there?
Well, it depends. I mean,
if it's--some--some events,
it's $100 to get in.
Some, it's $1,000.
Are you gonna make
a profit on that?
Yeah, well, we're
cash flow-positive,
about it over $7,000
for the year.
We've been putting everything
back into the business.
But you don't pay
yourselves anything.
No, not yet. So your
business makes about $7,000.
Not really. They don't
pay themselves anything.
So, shon, the--the $50,000
you're asking for,
what--what would
you use that for?
Well, we wanna start
attending the trade shows
to get it in front of the buyers
and we wanna expand our
trademarks into our countries.
I mean, we wanna take our
party to the trade show.
You can't just have one table
and two guys sitting behind it,
you know, because when
we sell this stuff,
we got the music blasting,
we throw impromptu concerts.
You know, we have artists
come into our tent.
You know, so it is a huge party,
and--and I think that's why we
have such a great following.
Now you're asking for $50,000
for 25% of the business.
That means you're valuating
your business at $200,000.
On $7,000 in profit.
No profit. There's no profit.
Stop saying that.
Oh, you're right. On no profit.
We based that on the
$60,000 in sales,
plus $50,000 value on the 4
trademarks we're holding.
I think you were smart enough
to understand the
power of the Mark.
That right there is a
great business itself.
So you gonna write a check?
Are you selling something?
Then mind your business. Why not
license this out to somebody...
Exactly. and let them
go after the big retailers?
And--and you reap the benefits.
That's definitely something
that we wanted to explore.
I mean, we've already
signed a licensing deal
with a Canadian record company.
And they're gonna start
packaging it with their music
and their artists, and selling
it in a hundred hmv stores,
you know, coming up in the
next couple of months.
Okay, here's
what I take from this.
Now you've come out
here and said,
"look, we're smart
enough to know
"that the only thing of
value we have is our Mark--
"our brand hillbilly.
"We're so smart that we've got
four deals to license this,
and there's a cost to set
that up, and it's $50,000."
That would've been
interesting to me.
That would've been something I
would've written a check for.
I have no interest in
competing in retail--
a category that's so
crowded, grown men weep.
Licensing's not off-- you
know, not off the table.
We already did licensing.
Look, you can only have one vision.
You can't have 15,
and let me part of the
ones that don't work.
I only wanna be part of the
ones where I get rich.
That's all I care about.
Hillbilly--i got it.
I think it works. I mean, we're
just starting on the retail side.
But I don't wanna be in retail.
That is the most brutal
business on earth.
You're about to find that out.
I'm out.
One shark is out.
Shon and Mike have four
chances left to make a deal.
I'm with them. You got
good-looking stuff.
You license it, and let somebody
else go out there and find it.
We're all for that. We're not against
licensing. When we go to these events,
and there's ten other
t-shirt vendors
and then there's the singer's
tent, we outsell all of them.
And they come to us saying,
"what are you guys doing?
How--how are you doing this?"
Well, let me just say to you,
I wish I had the licensing
contacts to help you out.
I think that is the
way to go, for sure,
with someone you can trust.
So I'm out
'cause I just don't
have those contacts.
Shon, I think the
ultimate redneck-
is that disrespectful, Jeff?
No, I--that's a compliment. Okay,
the ultimate redneck/hillbilly
is sitting right
there at the end.
Jeff, would you license this?
If you can get Jeff to come in
on the deal, I'll make an offer.
But I want 100% of the name.
I just want to buy the name
and pay you back a
royalty fee on it.
Jeff, do you wanna
come in on it?
What kind of royalty are
you thinking about?
I mean, I think we would
pay them back a 7% fee
on any future deals.
I just wanna license
it for other people,
have the check show up, and
you get a fee out of that.
But we--we certainly don't
wanna give up our whole dream.
I mean, we created this. So...
I mean, we would love to partner
with you or any of the sharks
as--as long as we're involved.
We know how to sell it.
It's not a dream
till it makes money.
It's just a nightmare till then.
I don't think we're gonna
give up 100% of our company,
you know, when we know
how to sell this.
I mean, even though you license
it, someone's still gotta go out
and sell it, you know.
Jeff, are you in on it?
'Cause that's pretty
important to me.
Yeah. I-I'll go in on
that with you, Robert.
So you've got the king
of hillbilly and redneck
willing to use his
name and license it.
Daymond, you want in?
I think that if the guys
go out and license it...
Ahem, with my expertise...
Uh, you know--
Jeff, I think daymond
brings some value.
I think daymond brings
a lot of value.
All right, so let me-- let
me rephrase the deal.
If you don't mind, Jeff.
Guys, you're gonna get $50,000
split between Jeff,
daymond, and I,
for the rights to the name
in exchange for a royalty.
What are you gonna do?
I think what we'd like
is if we could go up
to maybe $100,000,
on the royalties,
and then some type of guarantee
that if you guys just
sat it on the shelf,
we'd have an opportunity to take it back
at some point. You're not hillbillies.
I'm gonna defer the answer to
that question back to Jeff.
Is it worth the $100,000?
Man, I gotta tell you.
Emotionally, I'm--I'm torn.
Because I was you 25
years ago, gettin' up
at 5:00 in the morning
and doing 15 radio shows
doing redneck jokes,
trying to develop that brand.
Tough one.
I was--i was them as well. Yeah.
Then have a heart, guys,
and open your big, fat wallets right here.
Let's go. Barbara, enough with the...
I will counter with $75,000,
$25,000 each.
$25,000 each.
You okay with that? Yeah.
Guys, $75,000.
We get the name. You
get a 7% royalty.
The 10% is... out
of the question?
I think 7% is generous. I think you guys
know that. 7% is--is industry standard.
We need an answer.
What do you think?
Let's deal?
- All right. Let's go. Deal.
- All right!
Yeehaw!
Yeehaw! whoo!
You like that, huh, Jeff?
I'm already worried about you guys.
Come on, Jeff. Put
your hat on, guys. Yeah!
I like that. I like that.
Looks good, man.
All right, man. Congratulations.
Hey, Jeff, thanks.
Thanks, man.
It could work.
Do or die, man. Whew!
It means a lot to have
a deal with foxworthy.
I mean, that guy is
country, you know.
He lives and breathes country.
So for us to have a licensing
deal with him backing it
is amazing, and I think this is
probably the best thing that
could've happened to us.
Are Johnny gennaro
and vinny pastore
with a product inspired
by the mafia's wise guys.
♪♪♪♪♪
Hi, my name is John gennaro.
I'd like to introduce
you to my associate,
Mr. vinny pastore,
the celebrity star of
hbo's series, "sopranos."
I created a product
called the broccoli wad.
I'm here today looking for
an investment of $50,000,
and for that, I'm willing to
give 20% of the company away.
As they say, it's an offer,
hopefully, you can't refuse.
Johnny, let me just
start by saying,
if he's packing heat...
I don't care how much money
is involved, I'm in.
Now most guys carry their
money in a wallet.
But wise guys carry their
money in a wad like this.
Ladies and gentlemen,
this is the broccoli wad.
The broccoli wad
concept came from an idea
of a book I read
several years ago.
And it was talking
about an FBI agent
who infiltrated the
mob in New York.
And one of the key
characteristics
was that wise guys
never carry wallets.
They carry their cash
in broccoli bands,
not even rubber bands.
The broccoli band
is a perfect fit
to wrap around cash
and around a--
where do wise guys keep
their credit cards?
Wise guys don't
carry credit cards.
Just cash? Yeah, just cash.
You don't want to be
I.D.'D if they stop you.
Of course. They do carry
a license, but normally,
it's from out of state
and it's expired.
Have you got some
there that we can see as you--
actually, I have
one for everybody.
Now I met Johnny, and he says,
I created this product,
the broccoli wad.
So I thought he was a little,
you know, off his rocker.
But what I was impressed
about with this broccoli wad
was, I mean, look how cute it is.
Vinny, don't--don't break
my legs for asking this...
Okay. but--but come on,
it--it's a piece of rubber.
Right.
That you're saying is worth
$250,000 as a company?
Well, um,
how much you giving me
every time we sell one?
You get 50 cents a unit.
So if I get 50 cents a unit...
And if he sells enough of 'em,
I'll get my house in Malibu.
You know, I think you're
both totally nuts.
I don't get it.
I am so out on this.
Worse thing I've
heard on this show.
Barbara, I wouldn't
talk to him like that.
It's all right. That's all right.
She's a sweetheart.
Barbara, I think in
fairness to the product,
it's a difficult female item.
Guys get it 'cause guys have
always used rubber bands.
And I will say this, as a guy, I
mean, I've gotten to the point,
I--my wallet got where it was
the size of a phone book,
so I'm always looking for
something to put my cash in.
Right. and most of the
clips don't work right.
I mean, I'm-- I like this idea.
Just explain how we're
gonna sell these.
First of all, the product comes
with four bands and
four metal slides.
This is gonna be a
$10 to $14 item.
I've already created two
already with vinny in it.
He sh*t it with some of my
"soprano" cast members,
and we're, uh, about to
do this whole campaign.
We already talked, uh, to the
casinos in Atlantic city
and Vegas, where I will be
doing personal appearances,
and the casino will be giving
them out to casino players.
How much do you have
invested in this company?
I already have about
$200,000 into it.
- How's that possible?
- Wow.
'Cause he paid me $190,000.
I want to be vinny. You
figured this whole thing out.
Nah, nah. He took care of me.
How does he take care of you?
He takes care of me.
I come from a
background of novelty items.
I see this as
as seen on TV, 2-minute
spot, $9.99 plus shipping--
so--so, John, do
you need the 50k
to buy the airtime to
finally put this commercial
out there where people can see it?
I need the $50,000,
some of that, yes, to
help in the TV itself,
but the reality is,
I'm looking for
the sales and
marketing expertise.
Why don't I see vinny's
picture anywhere?
Why isn't it called the vinny wad?
Like why isn't he--
if you called it the vinny wad--
why isn't his picture on here?
The vinny wad's
probably better, sure.
Do you see vinny as-- as
kind of the face of this?
Without vinny, this
is-- this is a rubber band.
Yeah, I'm back in
for the vinny wad.
You want to do the vinny wad?
Yeah. that's different.
Your greatest asset is
standing next to you.
No doubt about it. But you
haven't branded him anywhere.
Is he with this long-term?
Could be.
Uh, I think, then truthfully,
to speak honestly in
front of Johnny wad,
that it's a matter of economics.
He's not paying you enough.
He's not paying you enough.
I think that sounds very expensive.
I'm out.
You know what?
This just isn't for me.
I'm out.
Yeah, I-i don't have an offer.
I'm out.
I'm gonna make a deal for you.
Vinny, listen to this--
we're gonna make an
offer, vinny and I...
Vinny's not a shark.
Wait, well-- what, are you guys dating now?
What's going on?
This is what I'm gonna
say-- 40% for the $50,000.
You put up the face and
the vinny wad name,
and vinny gets half of my 40%.
Well, I'm out. That's
a great offer.
That's a deal, Barbara. Thank you.
Baby, honey.
I love you. I love you.
Give me a squeeze.
Oh. what
just happened there?
What just happened?
Where do I go?
Barbara bought me out. What are
you talking about?
I don't need Johnny wad.
John, you just got whacked.
You didn't get whacked.
You're still into it for 60%.
I got what, 60%? Let
me just say it again.
I'm giving you the $50,000.
Okay, yeah.
For that, I get 40%. Okay.
I'm gonna give 20%, or
half of my 40%, to vinny.
Okay. and vinny's
gonna donate his face
and his brand to your product.
So basically, she funded
getting him into the deal
with his face, and he agreed.
He now has 20% of the company.
She has 20% of the company.
You've got $50,000.
And you still run the business.
How much product do you have in
your warehouse? 50,000 pieces.
Can I see the package?
Just put vinny's picture on it.
You need a sticker with vinny on it.
That's it.
That's all you need,
right up here.
But how are we gonna
move forward?
I came here not just for money,
but for sales and
marketing expertise.
Do I get your expertise? The only
thing I know really, really well
is sales and marketing.
The minute I thought
of the vinny clip,
I knew this was a home run.
- This is one tough broad.
- I like her.
Barbara's my style. And you know what?
You're my style, too.
Barbara, whatever you want
to do, we're gonna roll.
Whoa. you guys go ahead and take it.
No, we're gonna make money.
Stop, Johnny. Relax.
Wait a minute.
Do you accept the deal?
I'll accept it. All right.
This is--this is
history in the making.
I got two men for the price of one.
Thank you.
And I want to hug my partner.
Thanks, guys.
You made a great deal.
Was it a bluff, or you said,
"this is the worst idea
I've ever heard
on 'shark t*nk, '"
and now all of a sudden,
you're hugging and kissing?
No, I meant it was
the worst idea.
It still is, but
once you market it,
it's genius.
I'm really glad I made the
deal with Barbara. Sh--
you didn't make the
deal with Barbara.
I made the deal with Barbara.
My product, again, vinny. My--
okay, well, we both
made the deal.
We both made the deal. Okay, great.
I'm happy.
I think she's good.
She's wonderful.
I think she'll be great
for sales and marketing,
which is what we need. Right,
vinny's-- vinny's wad.
Vinny's wad. Vinny's clip.
Vinny's whatever.
Vinny's wad. That's fine.
Vinny's wad it is.
As long as I sell four million.
Okay.
02x04 - Episode 204
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Shows entrepreneurs making business presentations to a panel of five venture capitalists (investors in start-ups) called "sharks" on the program, who decide whether to invest in their companies.
Shows entrepreneurs making business presentations to a panel of five venture capitalists (investors in start-ups) called "sharks" on the program, who decide whether to invest in their companies.