S16.E06: Pepper Pong; Taverns to Go; Kaan’s Designs; FOAM coolers;

[CrazyInAlabama]

New, 11/22/2024

Sharks- Mark, Kevin, Lori, Daymond.  Guest Shark Todd Graves (founder and owner of Raising Cane’s)

Pepper Pong- A portable ping pong game. Seeking $150,000 for 10%.   Very quiet, won’t hurt furniture, can be played on any table.   Kevin and Daymond vs. Lori and Todd.   Sold $260,000 direct to consumer on their website in a year.  Margins costs $20 to make, and sells for $70.   No debt.  Very popular as a gift. Projects $600k to $800k this year.   Lori is out.  Kevin is out.  Mark is out. 

Daymond is interested in retail, and Daymond says he’s two years sober like the seller who has been sober for a lot of years, he offers $150,000 for 30%. Todd offers $150,000 for 25%, and lots of help with social media.   

Deal with Todd for $150,000 for 19%.  He’ll be a great partner.

 

Taverns to Go- portable outdoor bar, at-home bar experience. Seeking $400,000 for 10%. Delivered and assembled for you in ninety minutes, over 20 models to choose from.  Cost is $2795, with free shipping and delivery.    Sales to date $2.2 million since 2020.   Both sellers are from Ireland originally.   All building from in-house crews.  Order to build time 4 to 6 weeks.   Sales this year are projected to be $4 million.   Kevin $400,000 for 33 1/3% (I didn’t know Kevin was Irish originally).   Todd and Mark are out.  Daymond is out.  Lori is undecided, and is  $400,000, royalty $30 on each unit sold until she makes $600,000, and 15% equity.

Lori makes the deal $400,000 $30 royalty until she makes $400,000 back and 15%.

 

Kaan’s Designs- Family matching clothing, a T-shirt brand that aims to preserve family memories Seeking $75,000 for 15%.  Great quality sweatshirts, and tees.   Margins are good.   Good return on ads.    Matching apparel for families.   Adorable concept.  $3.2 million lifetime sales, 2016 to present.  This year $280,000 to $300,000 projected sales. They need inventory, and expanding their categories.  Devin is out, no room for an investor.   Mark is out.  Lori isn’t a fashion industry person, and she’s out.   Daymond says they can grow the business without a Shark, and he’s out.   Todd offers $75,000 as a loan, and 10% equity.

Deal with Todd, $75,000 as a loan, and 10% equity.  Daymond will mentor them for free.

 

FOAM coolers- a lightweight foam cooler fit for any occasion. Seeking $150,000 for 10%. Redesigned coolers that are lightweight, for daily use.   100% EVA foam cooler (like Crocs), sustainable, floats, durable.   Indestructible.  They run over the cooler with a steam roller, that backs into a bit of the set. Very think and light.   Sell $114,000 and $137,000 more soon.   Very crowded segment of the market.  Meant for short term use.  Margins are decent.   They will be in Target and next year REI.  This is the first indestructible, short term, light cooler.   Sells for $99 retail.   Lori tells Kevin to shut up.  Mark, Lori, and Todd are out.   Kevin offers $150,000 for 33 1/3%.  Daymond offers $150,000 for 30%.   

Deal with  Daymond $150,000 for 30%.

Update-Tik Pik partnered with Mark Cuban.   Brought manufacturing back to the U.S., now sells nationally, $700,000 sales since the tank appearance. 

Edited November 23 by CrazyInAlabama

[KeithJ]

I love how the Tik Pik update turned into a commercial for Gemini for Google Workspace.

[bilgistic]

...which segued into an actual commercial for Gemini with Mark Cuban.

[Shrek]

10 hours ago, CrazyInAlabama said:

New, 11/22/2024

Sharks- Mark, Kevin, Lori, Daymond.  Guest Shark Todd Graves (founder and owner of Raising Cane’s)

  Hide contents

 

Update-Tik Pik partnered with Mark Cuban.   Brought manufacturing back to the U.S., now sells nationally, $700,000 sales since the tank appearance. 

Interesting that moving the manufacturing back to the U.S. added 20% to their costs & they didn't say if that had been added to the sale price, pretty sure they didn't eat that 20% rise.

[bilgistic]

That Pepper Pong dude looked like the love child of David Cross and Jesse Plemons.

I kept reading the name as "Pepper Dong".

[Shrek]

38 minutes ago, bilgistic said:

That Pepper Pong dude looked like the love child of David Cross and Jesse Plemons.

I kept reading the name as "Pepper Dong".

I think that says more about you than the name. 😜

[seacliffsal]

I actually liked the pepper pong (but I loved ping pong when I was young-yep, had a homemade ping pong table in the basement while growing up...).  I may buy it next year for a couple of Christmas gifts (already bought gifts for this year, so next year...).

I went to Amazon to see about buying the Foam cooler-that's all I need, lightweight and cools for a few hours.  But, the $99 price point is way too much for me (probably would have bought one if it wass $50 or so).

The price for the backyard 'tavern' was really good.  I had a pergola built in my backyard and it was about that same price and that was 4 years ago.  However, I think customers should be forewarned that they will most likely need HOA approval (if applicable), and perhyaps even a building permit (my pergola required a building permit [and HOA approval]).  

And, yeah, there are a million t-shirt companies (give or take) so the t-shirt company, while clever, just doesn't seem necessary.

I did laugh when the stage was damaged.  Last week the thrown bat seemed to damage a light or something.  Maybe the new theme is slow destruction of the Shark Tank set.

[tired and hungry]

Not even 5 mins in and we already have a sob story. 

Another ball game pitch! We get that paddel and all its clones are popular but there's way too many of these. Sure maybe ping pong needed a reimagining but this is just riding on the paddel popularity wave. And I think the guy said he had a patent or something for that plastic net/divider but the entire thing is going to get knocked off immediately...

I know the pitches are not filmed in the same order that we see in the episode but it was kind of a d*ck move to give Daymond a pint of beer after he just said he was sober in the previous pitch. Also they barely asked those Tavern guys any questions, just went straight to "here's your deal"

Tshirt ppl were nice but again they can be knocked off so easily..

I don't know about y'all but I just hate this mentality of the sharks that you need to be "all in" to start a business. Seems like I need to use my 401K, be jobless, starving, homeless and have sold every asset in my name to fund the entire business and that will prove that "I'm really serious about my business" else the sharks think I'm wasting their time. That's the American Dream right there!

[DEL901]

24 minutes ago, tired and hungry said:

I don't know about y'all but I just hate this mentality of the sharks that you need to be "all in" to start a business. Seems like I need to use my 401K, be jobless, starving, homeless and have sold every asset in my name to fund the entire business and that will prove that "I'm really serious about my business" else the sharks think I'm wasting their time. That's the American Dream right there!

Especially since the odds of success, let alone massive success, are so low.   There are so many delusional or maybe just desperate people who think they have the next million dollars idea which just turns out to be Moonies.   Even getting a deal with the Sharks isn’t always the golden ticket they think it is.   Not all deals go through, and even if they do, maybe 1 in 10 will be successful…was it Kevin who bluntly said they need enough $uccess in a deal to make up for the deals that lose money.  

[Tango64]

I didn't get the t-shirt business at all. Not at all. 

They came up with three clever(?) phrases to put on black t-shirts for a family to wear together. They print them to order in their garage. The woman said that once customers order those phrases, that's it. They don't have anything else to order. Slogans on t-shirts is the oldest idea in the world and anybody can do it, as they demonstrate.

How is this a business? Maybe a little side hobby that funds a family vacation once a year? Sure, good for them. But a real business that sharks would invest in?

I was with the foam cooler guys until they mentioned the price. I agree there is a lost market between the $5 Styrofoam beer chest and the $400 Yeti cooler. But $99 for their product is still a lot of money for taking soft drinks to the beach, especially if they expect it to be an impulse purchase.

 

 

[eel2178]

On 11/25/2024 at 4:17 AM, tired and hungry said:

 Another ball game pitch! We get that paddel and all its clones are popular but there's way too many of these. Sure maybe ping pong needed a reimagining but this is just riding on the paddel popularity wave. And I think the guy said he had a patent or something for that plastic net/divider but the entire thing is going to get knocked off immediately...

We didn't get an explanation as to how the balls make the game easier or harder. 

On 11/22/2024 at 7:00 PM, CrazyInAlabama said:

Very quiet, won’t hurt furniture, can be played on any table.  

I'm still not going to let anyone play it on my glass-topped coffee table!

[Shrek]

1 hour ago, eel2178 said:

 

I'm still not going to let anyone play it on my glass-topped coffee table!

Well that's just elitist. 🤣