November 3rd, 2014 by admin
November 3rd, 2014 by admin
Husband and wife business partners Steve and Rachel McMurtrey hope the Sharks hop in and invest in Jungle Jumparoo, their “better bouncing toy” for kids (and adults) in Shark Tank episode 605. The McMurtreys had an unsuccessful Kickstarter campaign in June of 2013 and they hope the Sharks can infuse some capital into their business.
Basically, the product is a series of steel bars mounted on top of a super strong inner tube. Simply grab one of the bars and start bouncing! Since it’s low to the ground, it’s a lot safer than trampolines. Jungle Jumparoo is not a new invention. Rachel McMurtrey grew up jumping around on a prototype which was invented by a farmer near her childhood home. The farmer has passed on, but Rachel and Steve acquired the rights and began producing the bouncy toy in 2012. Their market research showed them kids LOVE the Jungle Jumparoo – they stay on it for hours!
Right now they’re busy testing and manufacturing the product. They started in their garage, and they want to make the leap to big production runs in a “real” manufacturing facility. They likely need a Shark to help with cash to get production rolling. Will the Sharks jump at the chance to invest?
Jungle Jumparoo Shark Tank Recap
Steve and Rachel enter seeking $100K for 20% of the company. After they announce themselves, a bunch of kids come out and start jumping around. Mark comments that it’s a broken ankle waiting to happen. The McMurtreys now own the rights to the product and have a patent pending.
Robert thinks it’s dangerous, but they explain more accidents happen on trampolines. They’re currently selling at Sam’s Club Roadshows and online and they’ve sold 1200 units in a year. Lori brings up the size of the packaging could be a problem. Daymond wants to know why they need an investor and they explain they need the cash to fill a big purchase orders.
November 3rd, 2014 by admin
Meghan Tarmey hopes to be on par with a Shark when she pitches The Caddy Girls, her golf caddy service featuring sexy women, in episode 605. Tarmey started The Caddy Girls in 2005 after graduating from Coastal Carolina University; she didn’t want to bartend to make ends meet and she wanted her own business.
The Caddy Girls operates in 13 markets nationwide (including Hawaii). They claim to offer “a unique and fun way to spend a day on the links.” All the Caddy Girls are certified with the Professional Caddies Association and, in addition to being easy on the eyes, are well versed in club selection, course etiquette, calculating distance, and keeping score. Hiring one of the Caddy Girls will set you back $149 (plus tip) and they’re available for tournaments, bachelor parties, and corporate events. As Meghan says: “We do the same thing a boy caddy would do, yet we look MUCH better doing it!”
Meghan is likely looking for a Shark to help explode the business worldwide. Will The Caddy Girls sink a deal with a Shark?
The Caddy Girls Shark Tank Recap
The segment opens at a Myrtle Beach golf course with some Caddy Girls assisting a foursome. She describes the service as a golfing montage plays in the background. Meghan wants to expand to every golf market in the country.
She enters the Tank in a golf cart with another Caddy Girl and asks for $100K for 20% of the business. She had $148K in sales last year and $34K in the previous month. Meghan explains the pricing for the Sharks: she charges $149 for a caddy and pays her girls $100. Robert wants to know why they get hired and she explains they do all the traditional caddy tasks. She says 4 girls are contracted for the PGA National Championships.
The business is growing and she justifies her half million dollar valuation. Lori sees a lot of problems with the business and goes out. Mark hates golf, so he’s out. Daymond likes the concept, but he thinks there’s too much work to do, and he’s out too. Robert thinks they’re still in the “hustle” stage, but he doesn’t think it’s investor worthy, he’s out too.
Mr. Wonderful liked the presentation and offers $100K for 50% of the business. He thinks they could double the business. Lori says the devil would give her a better deal. Meghan counters with 40% but Mr. Wonderful refuses. Meghan thinks 50% is too much, so she declines the offer. NO DEAL.
November 3rd, 2014 by admin
Josh and Diana Harbour pitch their wildly successful online dress business, the Red Dress Boutique, in Shark Tank episode 605. Diana started the business after becoming dissatisfied with her “secure but soul-crushing” job. She decided fashion was her passion, so she started selling dresses from her basement via an Ebay store. Later the same year, she got the bug to open her own brick and mortar store, so she cashed in all her chips, moved to Athens, GA with her new husband, Josh, and opened the Red Dress Boutique. The name came from a red dress she loved as a child. The store did well, but things really took off in 2010 when she opened an online store. Now, the Red Dress Boutique ships thousands of dollars in product every day.
Diana scours the world for what she calls “curated fashion.” She picks out clothing, puts together outfits, gives them creative titles, and sells a TON of product. In 2010, the online store did $63,000 in sales, in 2013 The Red Dress Boutique did $7 million. That’s a lot of dresses! Diana wants to start designing her own line of clothing, while balancing an already successful business and a growing family. She probably wants a Shark to help with cash for developing new lines and manufacturing connections.
Will the Red Dress Boutique slip into a comfortable relationship with one of the Sharks?
Red Dress Boutique Shark Tank Recap
Josh and Diana enter seeking $600K for 5% of the company. They are the fastest growing, online women’s clothing retailer in the nation. They explain most of their merchandise sells for less than $50. They hand out samples wrapped up in their specialty packaging. Diana explains how she curates complete outfits by recommending complementary pieces for everything ordered.
Their average sale is $75 and their typical customer orders 5 times a year. Last year, they did $8 million in sales and they are on track to do $12-$15 million this year, which wakes up the Sharks. Their growth in four years impresses the Sharks as does their story of bootstrapping. Diana grew the business with aggressive social media marketing. When Diana starts talking about her dad’s death as a motivator, it gets a bit misty in the Shark Tank.
They explain they will net $2 million in profit on their sales. Mr. Wonderful thinks the road ahead involves “cloning” Diana, which he thinks will be difficult, he’s out. Lori doesn’t think she’s the right Shark, so she’s out. Daymond says they are the FUBU of their category, but he can’t help, so he’s out. Josh says he knows how to grow a company and they need the $300K to revamp the website for better back-end data and analytics. Robert says that’s his area of expertise and offers $600K for 15%, but Josh and Diana decline.
Mark asks what the bottom line is. They say $600K for 10%, then Robert says he’ll partner with Mark at $1.2 million for 20% ($600K each) and they accept!
The Humble Beginnings
Sun-Stache’s genesis had to begin in a way that so many other great companies had before. They were founded inside the creator’s parent’s garage. And although they do not have an expansive corporate campus in Silicon Valley they are still being mentioned alongside titans of industry such as Apple and Google.* Years ago founders David, Eric and Dan were just three best friends who shared a dream…To sit in a room all day long with some of the world’s most intelligent and creative minds and just think up cool s#*%. Though the odds were against them, they never wavered and eventually persevered. Today these 3 best friends are living that dream.
But let’s backtrack for a moment shall we? David, Eric and Dan had a friend (his name will remain anonymous for his own protection) who was unable to grow a mustache in college. Seeing the misfortunes their buddy was having on a daily basis pushed the guys to research an alternative. They scoured ancient supermarket tabloids and Cliff Notes of pre-renaissance poetry to find their answer, but did not have any luck. Then, in an unlikely moment of enlightenment when their video game console was on the fritz David,Dan, and Eric’s friend Jordan held up the controller under his nose and the idea struck them all like lightning. After 15 entire minutes of brainstorming, an idea for the prototype for what would become the Sun-Stache was born. That invention went on to save their nameless friend from the life of mediocrity he was undoubtedly destined for.
The guys felt such a feeling of accomplishment and their Sun-Staches became such a hit, that they began thinking of other ways to transform traditional eyewear into something that was totally outrageous, unique and fun. They wanted to create a line that would completely transform a person’s face. Gone are the days of boring oversized “party” glasses. How about a sweet cowboy design with shutter shade saloon doors that open and close over the eyes? They were onto something…
The guys hired a group of some of the best designers on the planet and today their outrageous facewear line includes completely unique and proprietary designs including a pirate, police officer, devil, Santa Claus, King, Uncle Sam, and hundreds of others. They didn’t stop there…
Creating glasses that transform a person into a turtle…super cool. But creating glasses that transform someone into a crime fighting, pizza eating Teenage Mutant Ninja Turtle? Now we’re talking!!! They secured licensing deals with companies like Nickelodeon, Warner Brother’s and Universal allowing them to turn some of the world’s greatest movie and cartoon icons into transformative glasses. And they are actively working on obtaining additional licenses.
The bottom line? Sun-Staches can instantly transform anyone into the life of the party. Or the most interesting person at the supermarket. Ponder this…would you rather play a riveting game of ultimate frisbee with some guy without glasses, or your neighbor who just happens to be wearing a leprechaun mask, while dancing and ferociously devouring his beloved Lucky Charms? Our thoughts exactly.