S13.E21: Cupbop; Plunge; Handy Pan; Hampton Adams

[JTMacc99]

Quote

Entrepreneurs from Sandy, Utah, bring their tasty and convenient new style of eating authentic Korean food into the Tank in hopes of landing a deal. Entrepreneurs from Sacramento, California, take the plunge to change their life with their cool product designed to help with an individual's wellness routine; while entrepreneurs from Columbus, Ohio, introduce their take on a common cooking tool perfect for easy cooking. Last in the Tank is a an entrepreneur from Las Vegas, Nevada, who pitches his version of a sports medicine product specifically designed for athletes.

(Airing Monday May 2)

Quote

 

In a Shark Tank update, husband and wife Jacob and Michelle Sendowski from Los Angeles, California, update their investor Lori Greiner about Souper Cubes, silicone trays that come in three convenient sizes perfect for freezing food.

The Sharks in this episode are Mark Cuban, Robert Herjavec, Kevin O'Leary, Lori Greiner and Barbara Corcoran.

 

 

[Tango64]

Korean barbecue guys: seems a great product but also so typical of what the show has become. Instead of “I have a neat idea and need funding,” it’s now “We have an ultra-successful operation worth many, many millions and for some reason we want to give you a few percent.”

Happy for them, I guess, but not a win for the little guy. 

Edited May 3, 2022 by Tango64
Clarification

[CrazyInAlabama]

Sharks Mark, Robert, Lori, Barbara, and Kevin, no guest sharks. 

1.  Cupbop- Korean Barbeque in a cup, Valuation is 3% for $1 million (yes, $33 million).   Apparently Mark thinks it's a little spicy, since he has tears in his eyes.  Beef and pork mixed.  $8 to $10 a bowl, margins are 75%.    $10 million 2021, with only takeout, and delivery, They estimate this year's sales.  $18.7 million dollars, used to be only food trucks, but have 27 brick and mortar stores.   50% of equity is owned by people who bought out 3 other partners.  I love the two sellers.     I think they want a partner to help scale the business further, and go national.  

The one owner was brought with his brother to the U.S., and the parents left them behind in Utah, with some families.   It was for the opportunity here.  I love a Shark fight, they are have different valuations, but only Mark is out, but comes back in. The duo really need marketing and distribution.  Deal made with Mark.    

2. Plunge-wellness through torturing Robert, via cold plunge.  You buy a big soaker tub, and it goes down to 39 degrees.   This one is set for 55 degrees, and Robert will try it.   Robert is screaming, and I'm laughing myself sick.      Valuation is $24 million.   4.9 million sales in one year. They sell online $4800 for the tub shown, with shipping and installation.   There are four Sharks interested, but Lori dropped out.  Robert makes the deal.   (To me this is like the cold chamber that people stand in, and maybe Robert tried that too?)

3.  Handy Pan- skillet with an attached strainer to drain off grease.  Push a button, and the side strainer pops up.   $50k valuation.   One partner is a criminal defendence attorney.   A perfect product for QVC, and Bed Bath and Beyond.   I didn't like the way the strainer let a lot of stuff around the strainer.   You better use this over the sink, unless you want a lot of clean up, and splashing hot liquids.   Lori makes the deal. 

4. Hampton Adams- Athletic tape in a bunch of colors, very strong. It tears easily too.  Kinesiology tape, braces, athletic tapes, all sports tapes.  Sales are $24,000 since yesterday, this year $5 million so far. Margins aren't that great yet, and owner has issues with money and inventory.   The business owner offers to sell the entire company to Robert.   Mark says when Seneca sells the business that Seneca should come to work for him. Kevin makes one of his famous royalty deals.  No deal.  

Update on Souper Cubes.  It was last season's Golden Ticket for Lori.   They sold out of everything the day after the show aired, almost $1million in sales.  They're international, and Bed Bath & Beyond stores throughout the U.S. 

Edited May 3, 2022 by CrazyInAlabama

[DEL901]

Robert and his “my parents gave up everything to come here”….dude, did you forget you grew up in and got your start in Canada?

[KaveDweller]

Maybe the frying pan guys haven't made lots of sales because they have so much competition? Maybe not pans exactly like that, but there are tons of strainers you can buy designed to attach to a pan. But I guess Lori considers $10,000 "nothing" so she invested anyway? Those guys seemed like people who just wanted to go on Shark Tank and didn't really care about a business, but Lori may be able to help them make some money.

Mark looked pissed when the cold bath tub guys picked Robert.

[Vermicious Knid]

I thought Cupbop sounded familiar. There are three in Las Vegas and I drive past one all the time. Menu is not very extensive. Eh, I might try it.

Would get the frying pan if I came across it at a thrift store in good condition. $4800 for a tub? More awkward to bring home a pile of ice but a hell of a lot cheaper.

[EtheltoTillie]

I did not understand the cold plunge. How do you fill it up and drain it?  I don’t think they addressed that during the segment and I tried to see on line. 

[Madding crowd]

It seemed a strange episode because they didn’t ask a lot of questions they would usually ask. With the Korean BBQ how is it made it stores? Do they have stations ? What stores is it in? How do they handle the 1-10 level of spices in stores? With the plunging tub they never asked where people would keep it and how it would be filled and drained. 

[EtheltoTillie]

I had another beef with the cold plunge segment.  They were touting all these unproven medical benefits. That usually earns a dig from Cuban, but he was saying they had one at the Mavs facility and he liked it.  

[silversage]

I thought it was funny Mark said he would stick his leg in the tub. Guess he didn't take the plunge like Robert did.

[Shellie]

Lori made another golden ticket deal without the fanfare.  We just saw her make one of those deals a short time ago and she made a speech, with some of the guys kind of rolling their eyes.

[lh25]

On 5/2/2022 at 7:03 PM, CrazyInAlabama said:

They sell online $4800 for the tub shown, with shipping and installation.

And didn't at least one of the sharks make a comment about that being reasonable?  I don't have room for a tub that keeps cold water that I sit in for a few minutes here and there.

[Kiss my mutt]

I have my misgivings about the plunge tub due to space and the danger of having a tub constantly full of water around children.