12x16 - Episode 16

[bunniefuu]

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

I'm here to talk about something
we have all experienced.

We're just some small-town boys
that know how to work hard

but, most importantly,
have a good time.

You're drinking beer
on "Shark t*nk"?

We've raised $2.5 million
to date.

Whoa. I would actually consider

going in on this deal
with Kevin.

I would consider that.
I'll do it at 20%.

Now it gets interesting.
I'll make you the same offer.

Ooh, now it's getting
more interesting.

I'm really good at negotiating.

Can you negotiate yourself
down to 15%?

Cuban: Yes,
what a great response!

Yes!

♪♪

Narrator: First into the t*nk
is an easier way

to eat healthier meals.

♪♪

Hi, there.
My name is Jared Cannon

from the great city of Philly,

and I'm seeking $500,000
for 7% equity in my company.

Sharks, if you couldn't tell,
I'm a chef.

I've prepared some
of the most exquisite meals

you can even imagine,

but my favorite to prepare is --
you're never gonna guess --

a salad.

[ Chuckles ]
But not just any salad, Sharks.

I make a mean smoked salmon
salad with pearled couscous,

fennel, radish, feta,
and aji amarillo vinaigrette

that will knock your socks off.

What if I told you
you could have a five-star meal

served to you right in a jar?

Well, that's where we come in.

At Simply Good Jars,

we are revolutionizing
the packaged salad

to create simply delicious,

simply beautiful meals
bursting with every bite.

So say goodbye to messy,
flavorless, and boring greens

and hello to fresh,
vibrant, nutritious salads

packed into our easy
grab-and-go jars.

So just shake it up,
and the salad will mix itself.

You can eat
directly out of the jar.
Herjavec: Wow.

And if you need to take a break
or make a move,

simply cap it,
and you're good to go.

And the best part --
all our jars are returnable.

So for every jar
that we get back,

we not only reuse it
to help Mother Earth,

but we also donate one meal
to feed someone in need.

Good for you.

Sharks, at Simply Good Jars...
Nice.

...we believe fresh,
healthy food

should be easy to grab
as a bag of chips.

So tell me,
who wants to shake things up

and help us create the new
standard for eating on the go?

Can we try it?

Of course!

It really shakes. Yeah.

Oh, wow.
You know, I really thought,

seeing it all layered there,
that it wouldn't, but it does.

-Yeah.
-Yeah, it's very deceiving.

That's wild. Wow, yeah.

I just want to shake
the other one now. Oh!

[ Laughs ]

Okay. Smoked salmon.

This is very, very good.

Thank you. Thank you.

It's really good,
really good.
Thank you.

-Yeah, it's fresh. -Good.

-Wow. -It is fresh.

What's the shelf life of it?

So, it's a nine-day shelf life.

Why can't anybody
just put together a jar

that's shake and bake
and I made it at home, right?

So, the whole jarred-salad
thing is like a Pinterest fad.

It's been around forever, but
nobody's ever commercialized it.

I see a cooler here.

Are you selling this

where people are putting it
into their own coolers?

So, before COVID, the primary
revenue driver for our business

was, you know, really supported

by this fleet
of these smart coolers

that we would put into places

where there was kind of
a c*ptive audience,

not a lot of access to food,
let alone fresh food.

Like what kind of places?

Hotels, airports...

Office buildings?
...convention centers,
office buildings, universities.

So, after COVID?

So, as you would imagine,

all the places that we had
distribution -- 98% gone.

Yeah, your traffic -- gone.
Yeah.

-Right? -Yeah.

So, literally almost overnight.

So we had to figure out,

how were we going to follow that
customer to where they were now,

right, which was
at home working,

shopping at their local store.

And we were able to very quickly
make the pivot to retail.

And the reality was,
salad bars went bye-bye, right?

At grocery stores.
And will stay bye-bye, yeah.

Oh, yeah,
and they might not come back.

The industry thinks
if they do come back,

it's still gonna be
about two years.

Great point. Yeah.

And, Jared, how did you
get into retail?

How did you
make that transition?

So, between Easter
and Memorial Day,

we went from four locations
to 230 doors.
Wow.

Greiner: Wow.
We launched Walgreens
in Chicago,

and then we launched


and we partner
with CloudKitchens.

And we're able to list
our products

on these meal-delivery
platforms,

where now we get low-friction
trial, because for us --

And that's where you
maximize your margin,

and that's where you make
the most money, right?
Can you afford the 30%
that they take?

Oh, yeah. It's only 10%.

Okay, but are you going to
actually, as a company,

set up a CloudKitchen
for each major demographic?

Yeah, so our contract
with CloudKitchens is national.

And what do you sell one for?

So, jars sell from $8.99
to $10.99 today.

And what do you sell it
to the retailer for?

So, on the wholesale model,
we're selling it $5 to $6.

It costs us
about $2.50 to $3.60.

So you're making
about $3.50 each.

Alright, why don't we
talk about your numbers?

So, first of all, excellent,
excellent, excellent salad.

Oh, thank you.

So what did you do
last year?
Sure.

And then what are you on track
to do this year?

So last year, we did
just shy of about $300,000.

$300,000? $300,000 last year.

Wait a minute. Hold on. Wait.

I want to make sure that I heard
the valuation correctly.

You want $500,000 for 7%?
That's it?

Oh, yeah.
Alright, talk to me, baby.

What are you on track
to do this year?

So, we're $475,000
year to date.
Ooh.

We're on track to do about
$700,000, $750,000 this year.

$750,000, and how much
will you make on that?

We're not profitable.

We won't be for about a year.
Oh!

And how much have you raised?

We raised $2.5 million to date.

-Whoa! -Wow.

-I know. -Wow.

A lot of that was predicated
on buying 60 of these things

and really funding that model.

You did say that you're not
gonna make any money this year.

Correct.
What did you lose last year?

Probably not next year, either.
What did you lose?

$900,000.

Last year, you lost $900,000?

-Yep. -Wow.

We're gonna probably
lose that this year again.

-Ouch! Ouch! -Oh!

But we more than doubled
our revenue.

But hear me out.

So this is a food company
that we're looking to take

to a national distribution
in 18 months.

We have the relationships,
the production,

and the distribution.

We're building this
to $50 million

to $100 million company
in the next two years.

How much of your own money
did you invest in this?

So I started this entire company
on a $1,000 loan.

-Okay.
-Really?
-Cool.
-Oh, yeah.

I had been working on this
for probably five years.

And how much of the company
do you own?



-Ooh. Okay. -Ooh!

Who owns the other 49%?

We have probably about
a cap table

of maybe 12 other individuals
and groups.

But I've assembled a team to
take this to scale in a big way

and do it smartly.

So we're paying for that.

Jared, I think --

I think you're in trouble.

Narrator:
All Sharks are still in,

but Daymond is concerned about
the large amount of money

that Jared has raised
for his salad-in-a-jar company,

Simply Good Jars.

Jared, I think -- I think
you're in trouble.

I hope not.
I don't believe
I'm in trouble at all.

Herjavec: I hope not.
You know, you're gonna need
several more raises.

You're not gonna be in control
of the company anymore

'cause you're at 51%.
You lose control
right here today.

I'm not worried about that.

I'm worried for you, man. Why?

Look, if I'm gonna
raise a series A,

I'm gonna lose control.

No entrepreneur
that's gonna take something

to the level
that we are sh**ting for

is gonna have 80%
of the company in his pocket.

Do you remember Plated?
Yeah. Oh, yeah.
Know them well.

Okay, that was my deal. Yep.

Your numbers are identical
in the second year.
Sure.

We were losing between $900,000
and $1.5 million

for three years in a row. Right.

It is expensive, baby. Sure.

So that was
a big, big, big burn,

and it was scaring the living
you know what out of me...
Yep.

...until we sold it
to Albertsons for $340 million.

Sure.
So I'm a believer
in this space.

And I like the product.

So I'm thinking
you're gonna need to raise

somewhere between another


That's exactly what
we're doing right now, yep.

Okay, and so that's
extremely dilutive.

I'm gonna make you the same
offer I made the Plated guys.

They choked on it, but we all
made a lot of money later.

I will do the $500,000 as debt
at 9.5%,

and I'll take the 7%
as equity...
It's the same.

...so that you're not going to
dilute yourself any more,

and that 7%'s
gonna get diluted down

to about 4%
by the time you finish.
Yep.

And I'll help you
with the A round.
A lot more than that.

I know how to do
that syndication.

I love the deal, so I'm
definitely considering it.

It's not off the table.

Jared, I love it, except
I just realized something.

I don't think it's gonna work.

I actually think you're gonna
start losing far more money

as you get bigger. Yeah.

And the only light
at the end of that tunnel

is somebody buying you out.

You've got to be
everywhere tomorrow.

I see too much risk
for me in this.

I hear you. I'm out.

I appreciate it.
Thank you very much.
Thank you.

Yeah. Yeah. So...
[ Inhales sharply ]

I think you're in trouble,
but I actually like you so much,

maybe 'cause of the salad,
that I --
You started with $1,000.

That's as underdog
as you can get.
Yeah, I'm not mad at it, right?

I think you're gonna have to
raise a lot of money

or you're gonna die,
and I see a lot of these deals,

but I just don't know
if you're gonna be able

to make it through
that critical time.

Sure. Well, this is
the critical time, right?

And for us, 500 doors
represents $5 million.

I know it is, but I don't want
it to be a critical time

for my money, so I'm out.

Listen, you were in a situation
in COVID.

It wasn't working.
Everything closed down.

You created something new.

I would actually consider going
in on this deal with Kevin.

Kevin?

I would consider that.

'Cause I don't normally --
I'm a lone shark.

I like to do things myself.

But the reason
why I would consider

is because I think with my sales
and marketing skills,

packaging skills,
and I like Kevin,

and his experience with Plated,
I find very appealing.

I think it's a good combo

because we get
the marketing from Lori.

But I want to work with you
on the A round.

Yeah.
Look, I'll make it official.

I'll go in with her, same deal.

We'll go 50/50,
exactly the terms detailed.

I want to work on funding
the next round.

Or do you want to hear
what Mark has to say?

Mark's quiet over there.
Yeah, Mark's always quiet.

I always want to entertain

what's in front of me,
too, so...
Yeah.

Want to throw your foot in,
please do.

So, I'll match their offer,
but at 3% interest.

But I'm gonna suggest that
we don't push for the series A.

That's a mistake.

You will never be a Plated
if you stay small.

[ Sighs ]

Look, you're already positioned
to scale, right?
Yes.

This is tough.

You know what?

I would not be a billionaire

if I had just kept on
raising money

over and over and over again.

I'm with it. Right?

Yeah. Damn, that's nice to say.

Greiner: We're not gonna
have to keep raising.
Herjavec: God.

We're gonna be doing
so well...
It's true.

That's just putting it
on the table right there.
...we won't have to
keep raising.

"Here you go, homey."
Jared, here's how I look at it.

You know, you have three very
different people sitting here.

I do.
I don't think
we're going to have to worry.

Kevin wants to, like,
raise more money.

But what I like to do

is I like to get so many sales
and do it so fast

and blitz out so fast...
Exactly.

So, Lori, you and I
should be working together.

...that you're not going to have
to do a whole bunch of raising.

She's right.
She's actually right on that.
Right?

Yeah. You know what, Jared?
I'll change my offer.

I'm not gonna do it as a loan.

I'm gonna do it as equity.

I'll offer you $500,000 for 7%.

Did you want me in on it?

Did you make an offer to me
earlier?
I'll do that deal as equity
right now.

Done. Both of you?

Us? Oh, the two of us, you mean?

Would you be willing to go in
with Mark as an equity deal,

$500,000, 8%, 4% and 4%,
call it a deal?

You make it 10%,
I'll split it with her.

If you make it 10%,
I'll do that deal.

As equity.
Can we go up a little bit
in dollars?

You're getting two Sharks.
Come on.

Greiner and Cuban:
You're getting two Sharks.
I know.

And we're gonna
increase your sales.
Greiner: Come on, baby.

And think about it --
Okay, 10%, deal.

Done. Done.

Done. Boom!

Let's shake that salad.

-Let's shake the salad.
-Congratulations.

Thanks, guys.
I appreciate everyone's time.

Thank you very much.
Good job, Jared, man.

Thanks, guys. Great job.

Herjavec: Good job. Congrats.

Yeah, having two Sharks
on board,

we're ready
to shake this thing up,

get out there, sell some jars,

change the world
one jar at a time.

I want to say, "I wouldn't
be a billionaire..."

[ Laughs ]

I mean, that's just,
like, there.

You know what?
And I like saying it.

[ Laughs ]

Narrator: In Season 10,

Noel Durity made a deal
with Mark Cuban

for his patented hairstyling
tool, the Twist It Up Comb.

Is that a yes? It's a yes.

Narrator: Let's see
what he's up to now.

I invented the Twist It Up Comb
because I wanted to provide

a styling comb
for the Black community

that allowed us
to embrace our natural twists.

Twist It Up Comb is now sold
on my website, on Amazon,

and now over 250
beauty-supply stores nationwide.

Less than two years
after "Shark t*nk,"

we have done over $2 million
in sales.

But just three months
after airing,

I saw that my comb
was being knocked off

and being sold to beauty-supply
stores around the country.

Calm before the storm.

To see all my hard work
be copycatted broke my heart.

I consulted a lawyer
and took off on a road trip

to over 100 stores,

over 24 cities
from New York to California.

We ended up confiscating
over 1,000 combs,

over 40 invoices
I used as evidence

to win a six-figure settlement
against these copycats.

You just got in the car
and got it done,

but that's what you do, my guy.

Knock-offs are a pestilence
on every successful product,

and Noel did not back down.

We took every measure possible
to deal with them,

and there are gonna be more,
and we'll keep on fighting.

How big are we gonna
get this thing, Noel?

Big as God wants me to make it,
as big as I can grind.

Noel's future with
Twist It Up is incredible.

He is the dominant product
in this space.

So as we build visibility
and awareness,

this product
is just gonna skyrocket.

Durity:
As a Black-owned business,

it's very important
for me to succeed

because I represent the idea
that it is possible

someone that looks like me
can succeed in America.

It gives the culture hope.

When you look at me,
I want it to inspire you.

And I think going through
this entire process

with "Shark t*nk," reaching
the success that I have reached,

I honestly think that is exactly
what is happening.

It is allowing me
to fulfill my purpose

and share this idea
with the world

and that they can find
the courage

to go after their dream
looking at my life.

And I want to thank "Shark t*nk"

and I want to thank Mark Cuban
for all of that.

♪♪

Narrator: Next up is a product
designed to relieve stress.

♪♪

♪♪

Hello, Sharks.

I'm Nancy Rothner
from Lewes, Delaware,

and I'm here
to talk about something

we have all experienced --
stress.

And as a matter of fact,

I'm feeling some of it now
standing in front of all of you.

Now, I think you'll all agree,

with the current
pandemic situation,

stress has reached
an all-time high,

and this may seem unbelievable,

but I believe I've come up
with a solution to stress.

And it's so simple,
you'll be saying, "Pinch me."

And that's what it's called --
Pinch Me Therapy Dough.

It's an innovative,
aromatherapy-infused,

moldable, multisensory
stress reliever.

At the first hint of stress,

simply take some out, knead it,

and allow the calming to begin.

Now, for the last 20 years,
I've worked as a therapist

in the field
of stress reduction.

I've seen time and time again

what's most effective
to quickly de-stress.

And I wanted to find a way
to reach more people.

I'm confident with your help
and expertise,

we can reduce stress
around the world.

I'm seeking $300,000 in exchange
for 7% of my company.

-Oh! -Wow.

I just got stressed.
Yeah. Now we're stressed.

There are some samples in front
of you that should help.

So, Sharks, who wants to
pinch me and make some dough?

So we just scoop it out?
Scoop it out, yeah.

And there's no wrong way
to use it.

You can knead it, massage it,

take as little or as much
as you like out,

and you can use it
over and over again.

Oh, it feels great.
This one smells fantastic.

Thank you.
I love the yellow.
Yeah.

The scent component's there
because when we're stressed,

what happens is everything
in our system runs tight,

including our breath. Grr!

Since our brain is so heavily
hardwired to our fingers,

this helps us to become
a little bit more centered.

Then the tension that we have
in our body

has a way to release out
through the fingers.

So if my child gets ahold
of this, no problem?

Yes. Lab-tested safe
and nontoxic.

It tastes hideous.

So I don't think anybody
would even consider it, yeah.
Right, okay.

Greiner: Is this lavender,
the purple?

Yes. That's lavender?

John: Oh, it tastes like soap.

Oh, it's terrible.
Cuban: Tried it, yeah.

Give it to Daymond.
He'll eat anything.

She says to you,
"It tastes terrible."

Yeah, I told you
it tastes terrible.

John: Oh, my God. [ Laughs ]

Tell us about you,
about your background.

What's your story?

I worked as a stockbroker,
did that for five years.

You were a stockbroker?
I was, yeah.

But then I volunteered at
a shelter for domestic v*olence,

and that just inspired me.

I knew that's what
I wanted to do.

So I studied, trained.
I worked so hard.

And I became certified
in therapeutic services

so I would be able to help
people overcome addictions,

phobia, stress -- you name it.

So one night, I thought,
"How can I help more people?"

And then [Snaps fingers] boom,
I had that light-bulb moment.

I knew exactly what to do.
I got to work, never stopped.

And the result is Pinch Me.

So what does it cost for you
to make, and what is the retail?

Sure. All-in cost
for the smallest, $4.50,

with retail $14.99.

For the large, $7.50,
retail $24.99.

What are your sales?

Lifetime sales are $5.3 million.

-What? -Wow. -What?

-Yes. Yes. -Really?

Yeah, how long is that lifetime?

Well, actually, 2015,

I walked into a few stores
to introduce myself.

They immediately said yes,
sold out, were placing orders.

And then the summer of 2015, my
husband and I were blindsided.

He was diagnosed with leukemia.

Oh, no.

And so suddenly our life

was all about
just getting through the day.

So I really had to
put sales on hold.

He came through it great.

He's doing wonderfully. Great.

Great to hear.

And now 2016,

I had sales of $200,000.

Then the next year, 2017,
I did $800,000.

Wow.
Then the next year, in 2018,

we did $1.6 million.

Then last year, $1.95 million.

And the beginning of this year,
I was on track to go higher,

at least $2.5 million.

Had all these purchase orders,
then COVID hit.

And so what's happened
since COVID?

How has that affected you?

Yeah, I mean, obviously,
it's had a big impact

when all the stores are closed.

At this point, our sales to date
are $760,000,

and I expect this year
we'll be at $1.2 million.

What would the business
make all-in?

This year,
it's not our best year.

We'll probably make $220,000.

Last year, though --
After you pay yourself.

Yes, after I pay myself.

That's fantastic. Thank you.

Last year, after I paid myself,
we profited $584,000.

-Yeah! -Wow! -Wow!

Thank you.
That'll reduce your stress
right there.

You know what, Nancy?

Congratulations
on what you've done.

It's just not a space
that I really want to be in.

So for those reasons, I'm out.

Okay.

I'm thinking about it.
I like it as a customer.

But just not for me.

I wouldn't see any passion
in trying to get it out there

or helping,

so I'm out.

Thank you.

The problem is, you never built
your digital direct to customer

while you were experiencing
this growth in retail.

Exactly.

I'm interested,
but my offer's gonna be sharky

in the sense that I don't know
what I don't know

about the digital pivot, okay?
Okay, alright.

And that's where I'm interested
in blowing it up,

because I feel at risk in retail
for all kinds of products.

I'll give you the $300,000
for 25%.

-Ooh! -Mnh! -Okay.

Thank you. I appreciate that.
Hey, it's what
I'm comfortable with.

[ Both laugh ]

Ouch, but thank you.

For me, I feel like this product
is a great business for you,

and I think getting
an online presence,

just hire
some really smart people

that can help you
to do a website

and can help you
with digital advertising.

But you're doing so well.

Yeah.

I don't think
that you need a partner

to help you to do
that one thing, so I'm out.

Okay. Thank you.

You have one offer from me. Yes.

I'm asking you for 25%
for $300,000.

Right. What do you want to do?

You can counter, Nancy.
I'd like to counter.

Go ahead. I'd like to counter.

Well, Nancy, before you counter,

the dough, it's speaking to me.

Yay. The longer I play with it,

it's like, "Make an offer."

I love the mission.

Thank you. I can relate to it.

I'll make you the same offer.

I'll give you the $300,000...
Okay, thank you.

...for 25%.

I would love to work
with either one of you,

but 25% is just more
than I can do.

I would like to counter
to each of you at 10%.

Good for you.
Don't give up your company.
Ohh!

No, I don't want to give up.

Says the woman
who will give you nothing.

I gave her good advice.
You sure did.

That's wonderful.
It's worth exactly that.

I'm gonna stick at the 25%.

And I think I can do
a better job for you than Kevin.

I think I have more products
with better databases,

but I'm worried
about a lot of other things.

I'm worried about competition.

I don't think we need to worry.

Okay, well,
I'm not gonna worry --
I just feel like Pinch Me,

it's just gonna grow.
If you want to do the deal
at 25%, I'll do it.

Or you can do it with Robert.

I'm not gonna change my offer.

You're not gonna change
from 25%?

Okay, Robert, every single year,

we've been profitable,
profitable.

And this is just with retail
that's coming back.
Nancy, you're great.

Thank you.
I think if you had
more of an e-commerce strategy,

I would have a little more
wiggle room...
That's why I'm here.

...'cause I think
it's gonna be a lot of work.

No disrespect
to what you've built.
Understood.

I'll do it at 20%.

You'll do it for 20%?

There you go.
Now it gets interesting.

Alright, I'll do it at 20%.

Ooh! Now it's getting
more interesting.

I love this.
I love this direction.

Daymond and Robert...

how about...



I'm not going into
a bidding w*r with Daymond.

I already came down by the 5%,
which I wasn't going to.

Can you come just a smidgen
down more?

Um...

I feel really good at 20%.

Do you hear how calm
my voice is?

Can we move you down
just a smidgen from 20%?

Just a smidgen,
and we'll be good.

Just a smidgen.

Oh, my God,
you're such a good negotiator.

But I mean it. You're so calm.

And I'm like, "Ohh."

I was like, "I'm not
going down below 25%."

Now I'm at 20%, and I'm like,
"Should I go down?"

You are good, lady.

Thank you.

I think we gave you a valuation

that we all feel
comfortable with generally,

and I came in at 20% because...
I appreciate that.

...I just appreciated you

and I already
brought it down for you.

Thank you,
and I do appreciate it.

Just a smidgen?
So I would just love
to stay at 20%.

Can we -- Just a little more?

I'm gonna stay at 20%.

I already came down the 5%
because I believe in --

I just think it's such
a great opportunity.
You got to make a decision,
Nancy.

Okay. One of those moments.

Okay.

Alright, you're all amazing.

I want this more than anything.

I really do. So...

Robert, I will gladly
accept your deal.

Thank you.
And thank you, Daymond.
Cuban: Well done.

I'm so calm that I'm not
gonna throw this at you.

[ Laughter ] Congratulations.

Congrats. Cuban: Well cone.

Bye.

That's a rock-star partner,
Robert.

Before I walked in, Robert's
the one I wanted to work with,

and even though
he wouldn't budge from 20%

and it was 5% more
than what I wanted,

I felt that he was so worth it.

So I'm thrilled
to be working with him.

Narrator: Next into the t*nk is
apparel for a relaxed lifestyle.

♪♪

How's it going, Sharks?

My name is Taylor.
People know me as Earl.

My name is Garret.
People like to call me Buddy.

And we are from the amazing
small town of Holstein, Iowa.

We're here seeking $25,000
for a 25% stake in our company.

Sharks, we're just
some small-town boys

that know how to work hard...

Dang.

...but, most importantly,
have a good time.

Everybody knows when you're
working out in the cold,

you use earmuffs
to keep your ears warm.

But what if I want
to keep my drinks cold?

That's why we created
Muff Waders!
Muff Waders!

The first-ever bibs made
to keep your drinks close

while working outdoors
or being the life of the party.

The main feature is
the insulated six-pack cooler

located right here on the chest.

Yeah! That's the way
to have a six-pack.
What?!

This cooler has six pockets

that hold 12-ounce cans
and bottles perfectly.

On the side of each leg,
we have a deep side pocket

that holds your favorite
beverage nice and snug.

Bingo!

Up top, we have
a hidden concealed pocket

that allows you
to store valuable items

some people might
judge you for having.

Kind of like Earl's little
childhood stuffed animal

he brings around.

Oh, little Leroy.

But wait, Sharks.
That's not all.

Muff Waders comes complete
with a bottle opener

and a Muff Mug.

This allows you to go hands-free

for if you're out at the
tailgate tossing the pigskin,

or maybe you're out in the
timber wrassling a 'Squatch.

I don't know, Sharks.

Sometimes you got to
be hands-free.

Look, Sharks,
we're just regular guys

who like to work hard
but have a little fun.

We're chasing
the American dream.

We came up with this idea to
bring jobs back to our hometown.

And with your help,

we believe we can get
every blue-collar man

into a pair of Muff Waders.

Alright, Sharks, there's
a couple sets of Muff Waders

in front of you, if you want
to take a look at them.

I think there's a beer inside,
and we'll talk some turkey.

-Oh! [ Laughs ] -Yes, sir.

Oh, there is, too.

So who came up with this?

Earl.
So I came up with it
a couple years back.

We were at a football game.
I went to the bar.

And I just kept thinking
after I got off work,

"I wish I would have
just had my overalls on still

and brought a couple
beers with me."

And then I woke up
the next morning, had a drawing,

and just started
making them, basically.

Guys, I got to say thank you.

Thank you for not inventing this
while I was in college.

I'd be dead. Yes, yes.

It's perfect for tailgates.

Taylor, how did you meet Garret,
and what does Garret do?

We know you invented it.
You're the brains.

What's Garret?

What I do right now -- I just
graduated Iowa State University.

My plan was to go full time
with Muff Waders,

but I had a beautiful boy
in September.

-Congrats. -Congrats. -Congrats.

Little Teddy.
I could not take this on
full time.

So I work.

And then I come home, spend time
with my beautiful son,

my girlfriend,
and then once they're asleep,

I work on Muff Waders
from 11:00 to 2:00.

So you guys are buddies?

Yeah.
Yeah, we grew up together.
Yes, we're good friends.

Do you have any sales?

So, we have $54,000 worth
of sales since last September,

was when we first
started selling.
Good for you.

Oh, you do?
How did you sell them?

Online. We have our own website.

We're through Amazon.

Taylor, what does it sell for?

$85.

What does it cost you
to manufacture?

Costs $39.50.

That's including the bottle
opener and the Muff Mug.

John: Where are you
manufacturing out of?

Right now
we are switching manufacturers

'cause our manufacturer
in China shut down.

Let me just take a wild guess.

I would assume you're probably
about $75,000 invested into it.

Invested into it. Yeah.

Actually right on the dot.
That's right on the dot.

$70,000, $5,000.

There you go, DJ.
How'd you know that?

Wow, good one.

But that's what we've invested.
We're not in debt that.

It's not bad. How many units?

To get your own product...

And make it to "Shark t*nk."
...and learn --
and learn on the fly?

And you're drinking beer
on "Shark t*nk."

Cheers. Cheers.
Let's drink to that, guys.

That's also not
our only product.

Cheers. Yeah. One second.

Will you hold that?
Yeah. Here, hold on, guys.

We got another product that's
gonna help us get going here.
Oh, no.

-But yet there's more.
-But wait, there's more?

There's more.
Got some suspenders for you.

I love that.

That is the winner right there.

So we thought, you know, $85 --

People are saying,
"We love you guys.

We love your brand, but we don't
want to spend $85."

So Earl said, "Hey,
let's put these same pockets,

let's put two of them
on the suspenders,"

and then keep the branding
with the bottle opener

and the koozie right there.

How much are the suspenders?

So you guys are looking
at the first prototype.

Only pair in the U. S.
Right there.

There you go. Collector's item.

Do you have a patent on it?
Glad you brought that up.

So right now we have two patents
on the Muff Waders themselves.

One is issued,
one is notice of allowance,

which I believe means we just
pay for it, comes to us.

Yeah, it means
you're getting one.

Yeah, and then we have two more
coming on the suspenders.

We just started on these.

So, guys, how much do you have
in inventory?

Inventory.
We have about 400 left.

Yeah, about 400 left.

And we're actually sold out
of this extra-large brown,

and we're running low
on our large black.

So if you're changing
manufacturers,

what are you gonna do?

So, that's a good question.

I know it is. We've called them.

And we have a couple people
lined up for a bigger order,

and we have some lined up
to use.

Sorry, Taylor, why did
the factory close?

Coronavirus.
I have no --
Yeah, I think it was the virus.

'Cause they didn't have
anything to make.

I called the guy back,

and basically I don't know
what happened to the --

What was that question again?

[ Laughter ]

To Earl! Let's drink to Earl!

-That's Earl for ya! -Earl!

Guys, I love the story.
I love you guys.

Like, I'm amazed.

Here you are on "Shark t*nk"
drinking beer.

It can't get any better.

But, guys, it's just not for me.
I'm out.

Okay.
Hey, guys, what you're doing
is incredible.

I mean, I will wear this,
but it's just clothing business,

I'm just not that guy
to go out there.

Drinking, I'm all in, right?

But the clothing side of it, I'm
just not the guy to help you.

So for those reasons, I'm out.

Herjavec: Hey, Earl, I think
you guys done a great job.

I will not be wearing it,
but I wish you all the best.

I'm out.

We are gonna keep going
regardless,

but I think we'd make it there
a lot faster

if we had somebody
just a phone call away.

Well, you still got
Daymond and Lori.

Greiner:
I will tell you something.

My suggestion --
do some Instagram ads.

Do some, like, 30-second,


Use you two. We are doing that.

But right now
we're trying to cut back.

We only did about $200
of Facebook ads on the holidays.

Actually did it for one day,

and we sold over $2,000
in one day.

-Yeah, absolutely.
-That's a good return.

People love these ads.
Like you said, it goes viral.

I'm telling you,
that is all you need to do.
They organically grow.

But this is not
the right deal for me.

Love you guys, love the product.

And I know you're gonna make it,
but I'm out.

Thank you, Lori.
Thank you, Lori.

Okay, Muff brothers,
all is not lost.

Four Sharks are out,
but we have one Shark left

who happens to be
the fashion guru.
Daymond.

And you're the fisherman.
And the fisherman.

Oh, it couldn't
be more perfect, guys.

I feel the stars are aligning.
I feel good things, Daymond.

Yeah. You know, listen,
I was in this space.

I started off in that space.

And like you say, you need
somebody to give you direction.

I probably, if I was a partner,

I would have probably given you
the wrong advice,

to be very honest, because
even though there's that space,

there's so many different
segments of that space.

I don't think
I can help you much.

And you guys have a good,
slow, steady run.

You've learned a lot.
I think you'll be okay.

So I'm out.

-Congratulations, man.
-Keep k*lling it.

-You guys are great.
-Thanks, guys.

Cuban: Keep on doing
what you're doing.

Congrats. Nees: Thank you.

Oh, my God. I love these guys.

I love that. That was hilarious.

It's tough.

Thought we had them.

Nees: I'm pretty pissed off.

I think America's
gonna love the product.

I think they missed on
two great guys who work hard,

and we've gotten here
by ourselves from the start.

And, quite frankly,
we'll just keep going.

We'll just keep pushing,

and we're gonna make it
to the next level without them.

Narrator: Next up is a solution
to a common problem for babies.

♪♪

Hi, Sharks.
My name is Beth Fynbo.

I'm from Rochester, Minnesota,

and I'm here seeking $250,000

for 5% of my business,
Busy Baby.

Wow.

If you've ever gone out to eat
with an infant or a toddler,

you know how stressful
it can be.

You struggle to keep things
out of baby's reach,

give them something acceptable
to play with,

only to have that item

immediately thrown
onto the floor.

You pick it up,
wipe off the gross germs,

which are of concern
now more than ever,

return it to the child.

And inevitably, the cycle
continues the entire meal.

A problem solver by nature,

I decided to create something
to keep our kids entertained

and to save our backs
and sanity.

Parents, keeping your babies
busy just got a whole lot easier

because of the Busy Baby Mat.

The Busy Baby Mat is a 100%
food-grade silicone place mat

that suctions
to any smooth surface.

And it has a tether system
that allows you to attach

any of baby's favorite toys
to the mat

so that they always stay
within arm's reach.

It's a clean place
for baby's food,

dishwasher-safe, rolls up
into a convenient sleeve

that fits easily in your purse
or diaper bag.

And best of all...

no more toys on the floor.

And the Busy Baby Mat
has endless uses.

Wrap it around
a shopping cart handle

to stop baby from teething
on those nasty handles.

Stick it to a window, motivate
baby to stand up and play.

Big kids can even color on it
with washable markers

that easily wipe clean.

Now, who wants to get busy?

Ooh, that sticks really good.

It works. That's secure.

It works. Tell us about you

and how you came up with this.

Okay, well,
I was born and raised

the daughter of an entrepreneur.

My dad has always had
his own business,

and so I learned from him

that I absolutely want
to have my own business.

So after I graduated
high school,

I actually joined the Army.

I spent 10 years in the Army
traveling the world.
Wow.

-Thank you for your service.
-Thank you for your service.

You're welcome.

After 10 years of the Army,


I finally meet my perfect match
and we start a family.

So some girlfriends
took me out to lunch,

and the moms brought their
two little 1-year-old daughters,

and they were
the sweetest girls, so cute.

But they were a constant
distraction the entire meal.

So I sat there at lunch,
and I got on Amazon.

And I was like, "I need to
find something for my kids

so that when we go out
and he's big enough to sit up,

he's not gonna be
that distraction."

And there really
wasn't anything.

And then I thought, "This is it.
This is my thing.

This is what I'm gonna do
that's gonna get me

out of this corporate rat race."

I started that night cutting
and gluing things together.

So I have a video to show
you guys of me as a new mom

three years and two days ago,

sitting at my dining room table
making prototypes.

So, baby's in bed.

Daddy is gone fishing
for the weekend.

[ Laughter ]

I got "Shark t*nk" on the TV,

and I am busy
making some prototypes.

Herjavec: Love that.
[ Chuckles ]

Gonna be on "Shark t*nk"
someday.

-Awesome! Awesome!
-That's great.

-That's great. -Make it happen.

I really believe that
if you believe in yourself

and your goals, then you will
literally make it happen.

I believe that 100%.
And here it is.

Is there anybody else out there
doing something like this?

So there are lots
of place mats.
Yeah.

There are a lot of place mats
with built-in bowls.
Yes.

There's been one here.

And that's a great product for
kids that are starting to eat.

There's also a product
that has tethers,

but it doesn't have
the surface for the food.

I've not seen any others
that have toys attached.

And what does it cost?

This is $24.99.

And what does it
cost you to make?
$6.

Did you try and patent this?

Greiner:
So what's your patent?
It is patented.

It is? I have two patents.

Are they utility patents
or design?

I have two utility patents
in the U. S.,

and I have a utility model
that's written in China as well.

Wow. Really good.

Wow. I never would have thought
you'd get a patent for that.

Love the story. Love the video.

Now you're in the t*nk.

Let's talk money.
Okay, what are your sales?

Well, I started
selling last year.


at $97,000.

Okay. I know that's not a ton.

I know that.
Proof of concept, though.

People are buying it.

-So 2020, right? -Mm-hmm.

Tell us about what happened.

So in 2019, I traveled
around the country

from expo to expo to expo
to expo on the weekends

to get in front of people
and do the demos.

And so for 2020,
that was my plan.

And then a pandemic happened.
Yeah.

And so January and February
was maybe $20,000 in sales.

Since then, I have now
had $323,000 in sales.

-Whoa.
-Wow! How did that happen?

-How did that happen?
-That's fast.

Well, in March,
when all my sales dropped

and I had no expos
to go to anymore,

which was my big plan,
I said, "You know what?

I'm gonna divert
all of my travel budget

for my expos
to social-media ads."

And I went from zero orders
to 20 orders a day...

Greiner: Wow.
...within two days.

O'Leary: You've done
the great digital pivot,

which so many entrepreneurs
haven't been able to figure out.

But the ones that have
end up like you.

What do you think you'll get
by year end,

given you're past $300,000
already?

I'm looking at
just under $900,000.

-Whoo! Wow. -How much?

Just under $900,000.

Cuban: On that same topic,
how much will you make

from your $900,000 in sales?

The net profit is 20%.

Okay, so about $180,000. Mm-hmm.

Normally at this point,
with about $400,000 in sales

and projected $900,000,
we would be ripping you apart

for a $5 million valuation.

Why do you think the company
is worth $5 million?

Okay, so if I keep doing exactly
what I'm doing right now,

I'm also adding toys to my
website so that it's an add-on.

What kind of toys?
Teething toys.

I have two, so all the toys
you see, basically,

in front of you, they all are --

Okay, so they're
upsell accessories.
They're upsells.

Okay. I have a lot of people

coming back to buy these now
as baby shower gifts,

so next year, I can easily do
$5 million just with that

without changing anything else.
O'Leary: Very aggressive.

Mark and I invested
in a product called Lollacup

years ago, I think Season --

Works great with the mat.
Cuban: Yeah, which we just sold.

Which we just sold.
Yeah, we just sold it.

Works great with the mat.
Yeah, and it worked out great.

Go right around the handle.
The problem with a lot
of these baby products

is it's a relatively
limited market.

You've got this limited window.

It's a single product.
It's a great product.
But you know what?

Babies are born every year.

Millions of them every year
all over the world.
Cuban: Yeah, they are.
Yeah, they are.

So the market regenerates itself
every single year.

What you're doing
is incredible, right?

And I love the idea that
you've created a platform.

The upsells are brilliant.

But the reality is,
the baby market

is a very unique
and specific market

that requires
a certain skill set.

And since we sold Lollacup,

that was my last foray
into the baby market.

So while what you've
accomplished is amazing,

it's not really a fit for me,
so for those reasons, I'm out.

I totally understand.
Thank you, Mark.
You're welcome.

You know,
I'm always in awe of women

that serve in the m*llitary.

You know, I look at you
and I'm already impressed by you

because you did that
and you did it for 10 years.

I'm gonna give you an offer.

It'll be a little aggressive.

Narrator: One Shark is out.

But Lori is interested in Beth's
baby place mat, Busy Baby.

Greiner:
I'm gonna give you an offer.

It'll be a little aggressive

because we just did a licensing
deal with my Baby Toon.

With Munchkin.
Yes, with Munchkin.

You know, I have
a great partnership with them,

and I think that this would be
a really great product for them.

So I'm gonna offer you
the $250,000,

but I'd like 20%.

Whoa! People are gonna
stop having children

with that kind
of equity ask.
And the goal --

the goal would be
to go to Munchkin

and see if they would do
a licensing deal with us.

But they would be
doing the retail.
Yeah.

They would be doing
the manufacturing.

I mean, it's kind of
a nice thing.

You sit back
and watch the money roll in,

but they do take over.

Would you be willing
to do it for 10%?



♪♪

[ Sighs ]

No, I think 20% is good.

I think 20% is right.

That's one times sales.

Well, Beth, let me add
some clarity to it.

Her offer
is substantially better

than the offer I was gonna make.

And that's just
from my experience

in the baby business,
how hard it is.

I'm out.

John: Yeah,
let me help you, as well.

I don't think I want to be

in the baby-product space
at this time.

I'm out.

How much of the company
do you own?

I own 100% of my company.

Wow. Beth, you are
the real deal.
Nice.

There's no question.
I'm the real deal.

I'm doing this.
I mean, you are a rock star.

I don't say that very often
'cause it is tough

to launch a baby product --
tough.

I very much appreciate
the compliment.
Really tough, so I'm out.

And you're out.
I get it. I get it.

Lori --
Cuban: Don't sell yourself
short, Beth.

Lori, will you do this deal
for 15%?

I would love to do this
with you for 15%.

I can't go past 15%.

Wow. I just can't.

For me,
the bottom line would be 18%.

I can't do it. I can't.

Whoa!

Good for you, Beth.
I know what I've done.

I love when an entrepreneur
sticks to their g*ns.

Greiner: You could pursue it
on your own.

But I don't think
that you would get as big

of an up-front
sum of money and royalty

as if you're with me.

Negotiating is my sweet spot.

I mean,
I'm really good at negotiating.

Can you negotiate yourself
down to 15%?

Yes, what a great response!

Yes!

-I love that. -Please.

-Oh, my goodness.
-What a great response.

-You have 100%. -Please.

Greiner: You have 100%
of your company.

I do.

If you feel the 3%
isn't worth it...

It has to be worth my time.

I don't know that I would do
as well without you,

but I didn't want
to go past 15%,

and I had to stick to that.
I respect that.

I got to stick to it
'cause I know what I've done...
I respect that.

...and I know what's coming up
and I know what I can do.

So are you out, Lori?

Greiner: Well, listen. 15%?

No, I'm sorry.

Okay.

Thank you for your time.

Thank you, guys. Good luck.

-Congratulations, Beth.
-Good luck.
-Thank you.

-Fantastic job.
-Good luck to you.

-Thank you, guys.
-I am rooting for you.

-Thank you. -Congrats, Beth.

-Thanks. -Fantastic.

Fynbo: It's hard to walk away,
but I know the value

that I'm gonna get
from the things

that are upcoming for Busy Baby.

Lori would have been
amazing to work with.

She really would have been.

I'm very confident
in myself and my plans

and what I'm doing,
and I really think I can do it.

I just wasn't willing
to give up 18%.

♪♪

♪♪