Sleep Styling, Wine Blending, Appetite Killing, Billboard Recycling
“I don’t think most people realize how much it takes for a woman to get ready in the morning,” Brown says in her opening vignette. Either way, her advanced microfiber curlers both dry and style women’s hair in their sleep, allowing for a super-fast morning routine. 6,000 worth in three weeks. That’s awfully early to be coming into the Tank, but Brown’s delivering a great pitch.
Unbelievably, this working opthamologist came up with the idea while doing her daughter’s hair last summer, enrolled in fashion school, developed the product and worked whenever she wasn’t operating on eyeballs or sleeping to launch the hell out of it. 75,000 for 30 percent. As you see in the video, Brown haltingly counters at 25 percent — haltingly, because she’s watched the show and knows full well countering a yes-or-no offer usually results in a pulled offer. But as Robert points out, Lori seems completely sold on this businesswoman and her product.
“Done,” says Lori, and it is! I used to rock two solid feet of hair, but I never styled it like this. If you normally dry, curl or iron your hair despite hating taking the time, you definitely SHOULD BUY. Right off the bat, Dim’s valuation makes me shake my head.
99 for four bottles of single-varietal wine, blending tools and an instruction kit. When you’re done, you can upload your blend ratios, design a label and order a case of it. This seems like a lot of fun, a great way to spend an evening with friends. But the business model is pretty fuzzy and pretty soon, Dim is talking about weddings and cruise lines and bulk business-to-business sales.
“I thought you were selling fun,” Robert says. But we’ve gone from a date night to a party experience to trying to sell wine by the case. How much is a case, anyway? 25 per. Dim says only about 15 percent of customers actually order their blend after they make it. 14 a bottle,” declares Mister Wonderful, and the network declares a DRAMATIC COMMERCIAL BREAK.
Trying to understand that wine mixing business. “I love it as a gift,” Lori says. “I love it as a shared experience.” But with the model all over the map and the numbers fuzzy, she’s not willing to pay the steep asking price to get in on his company. 250,000 for 30 percent of the company.
He then admits he has a partner in the business, and that partner won’t accept dealing away that much of the stock. “I like you, Billy,” she says, and wants to help him out. 250,000 for 25 percent, which leads him to confess he only owns 49 percent of the company. He counters, saying he’ll dilute his shares to be able to give her 20 percent of the company if she’ll go down that low.
“Let’s have a drink! ” SWIM. So far, Lori’s two-for-two — and it seems like she’s been wooed as much by the entrepreneurs themselves as anything else. This sounds like an outstanding way for two couples to split four bottles of wine and have a fun evening in instead of a pricey evening out.
I think you SHOULD BUY the kit. 25 a bottle, though, so SHOULD NOT BUY a case. “MealEnders are a totally new approach to weight management,” Bernstein says, and again I bust out my briefcase full of scoffs. That… actually sounds really brilliant. The Sharks all pop one in their mouth, and after a few seconds they all start to agree it’s doing something, and that something feels something like what Bernstein described. Yeah, maybe next time the wine-guzzling pitch should come last.
Bernstein’s been in the market for a year and a half, and claims a very low dissatisfaction rate. 1.4 million worth in just a year and a half, entirely through Amazon and their website. But even if practically no one is returning MealEnders once they buy, they’re not often buying again. Bernstein admits they have just a 21 percent re-order rate.
170,000 last month, and maybe a little more this month. But they’re spending half their revenue on advertising. The Sharks all start going out, and Bernstein seems flummoxed. They’re almost kind of profitable! “This is the first weight reduction product that came on Shark Tank that wasn’t just torn to shreds,” Mister Wonderful says — but the aversion aspect of the product is making him, well, averse to ever buying the things again.
Barbara totally gets the product, but at this point the math just doesn’t work. “Although I love your product, I’m out.” CHUM. I love to eat, and I struggle with satiety cues. I’m totally willing to give these a shot. I’m going with a strong SHOULD BUY, even knowing there’s a 4-out-of-5 likelihood you won’t order a second bag. Ha ha ha ha ha — this is brilliant.
That’s right: until the turn of the millennium or so, billboards were painted by hand. But now they’re printed onto tough vinyls and stretched out over the blank billboard frames. Rareform just snaps them up, cuts them up, makes them up into bags and marks them up for excellent margins.
But unlike Firefighter Turnout Bags, these aren’t immediately self-explanatory; the brothers admit telling the story is the biggest sales obstacle. 700,000 of which is in the last 12 months. Lori and Mark can’t backpedal quickly enough. 300,000 as debt at eight percent interest for 36 months, plus a 10 percent equity stake.
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