S02.E13: Beyond The Tank Episode 213

[yeswedo]

Quote

Lori Greiner and Robert Herjavec are concerned that season 6's Mensch On A Bench may be marketing too many products under the "Mensch" umbrella. In season 5, Mango Mango Preserves didn't land a Shark to help them acquire a production facility. They get unexpected help from their hometown of Hampton, Virginia. Toygaroo got a deal with Kevin O'Leary and Mark Cuban in season 2 for a monthly toy rental service, but things didn't go as planned. Aqua Vault got a deal in season 6 with Daymond John for their portable safe to secure valuables, but they are feeling the financial downside of entrepreneurship.

[starri]

On 5/4/2016 at 7:49 AM, yeswedo said:

In season 5, Mango Mango Preserves didn't land a Shark to help them acquire a production facility. They get unexpected help from their hometown of Hampton, Virginia.

Yay!

[EAG46]

I understand what Mr. Mensch on the Bench wants to do.  He wants there to be a Hannukah icon the way Xmas has Santa, Rudolph, and all those other guys.  But you can't force a tradition.  And marketing one in today's overly aware culture won't work.  Of course odds if the Mensch was around when I was little my parents would have thought it was stupid and not have allowed it anywhere in the house.  And I don't even want to imagine what my grandmother would have thought of it.

ETA:  The Bubbe on the Shelf companion was a cute idea, though.  And my grandmother was nothing like that archetype.

Edited May 7, 2016 by EAG46

[bilgistic]

The dramatizations are getting to be a little over the top. The Toygaroo woman who it turns out is not even in business anymore must've faked talking to customers on the phone several times during her segment, in her fake office with the fake toy storeroom. It's not like I believe they've been filming her for five years just to see how things would pan out. This show.

I like the mango ladies, but them doing a restaurant along with the sauce/jam/chutney/whatever business worries me a lot.

Aqua Vault dudebros, please enjoy your time at Sea World. I'll never use your product, as I'll never darken the doorstep of Sea World.

I agree with Robert about the Mensch guy diluting the brand. That plush menorah was cheap and tacky looking, and as a Christmas celebrater, let me tell you, we have the cheap-and-tacky market cornered. When your merchandise looks like it belongs on the CVS clearance rack, it's time to rethink things. cougheverythinglorisellscough

Edited May 7, 2016 by bilgistic

[starri]

8 hours ago, bilgistic said:

I like the mango ladies, but them doing a restaurant along with the sauce/jam/chutney/whatever business worries me a lot.

 

I also fully believe that they're cooking their own sauce.  That said, their restaurant is in a place that could use a trendy eatery, and seems to have good reviews.  An all-mango place seems a bit gimmicky, though.

Didn't we get a mention of Hannah the Hanukkah Hero the last time we got an update on Mensch on the Bench?  I did like Bubbe, though.  And while a lot of those products were tacky, I liked the idea of expanding to other Jewish holidays.

I appreciate that the AquaBros are taking the opposite tack of Mr. Mission Belt and living lean.  I loathe Sea World with the white hot intensity of a thousand nuns, but as they seem to be slowly bending to pressure to end their whale shows and pivot to being an experience more like Six Flags, I reserve the right to change my opinion if they suddenly grow a soul.  They also have a deal with Norwegian Cruise Line's private island Great Stirrup Cay, so they're not exclusively in bed with evil.

[Dots And Stripes]

I think the Mensch guy is smart to expand to other holidays and non-holiday specific items. I just think he should avoid doing too much too fast. While it seems daunting to create a holiday character, I don't think it's impossible. Coca-cola didn't invent Santa, but it did give us the American image of Santa.

The Aquawhatever guys and Toygaroo lady were the instances of Beyond the Tank exposing a Shark Tank myth: that the Sharks will extend you credit if you need it. How many times have Sharks told entrepreneurs that if they need more money then of course they will give them a line of credit. At some point the Sharks will cut their losses or say figure it out without the extra money. Good to know.

[Saylii]

I do think there is some stock footage that's accumulated over time from each of these companies for the "update" feature in each regular episode.  But a lot of the stuff is fakity-fake.

I think the Mango ladies are opening up their restaurant as a condition of their grant.  Usually city grants like that require some sort of store front to generate sales tax back into the city.  But if they get a production center + restaurant from the grant, which generally can't be used for product, then it's probably better for them overall.  Hopefully they hire a good manager for the restaurant side and don't try to do that themselves.

[bilgistic]

Anywhere from 60% to 95% percent of restaurants fail in the first year, depending upon the source of the data. That's why I worry for them. It's moot now, but I would've liked to see them to branch out in other, less risky ways, like a food truck or catering business--something far less expensive than a restaurant. It's likely they are going to be sinking into the restaurant all the grant money, the Mango Mango proceeds and whatever savings, family loans, etc. that they can come up with. I'm speculating; I know. I really hope we get another update from them in six months and they are doing very well.

[HawaiiTVGuy]

I felt bad for Toygaroo, it seemed like it was a good concept (considering how many subscribers she had as well as the fact there were three investors interested) but it looks like execution just failed.  Not sure what she should have done, grow her infrastructure more?  Maybe even work through amazon and their retailers?  Maybe work out a deal with toy distributors to give her whole-sale prices and instant access to their stock of toys on hand?

I am curious as to what she is doing now, usually don't they say, oh I am doing so and so, or trying to build so and so business?  Glad to see someone who didn't get an investment making it on their own.  I am glad that Daymond gave the Aqua guys some actual real business knowledge instead of just handing them a wad of cash.  As Daymond and his cohorts pointed out, their fear of losing out on the deal because they need to delay fulfillment by a period of time is ludicrous.  First, they are the only ones with the product, if they want to get it, they will be willing to wait, and it isn't like they are time sensitive and needed for any certain deadline, they just are going to be rolled out at the various parks.  Second, they know how small their operation  is, no way they should expect them to have it on hand, and third, the parks probably need time to get their own infrastructure in place and let the parks know what is going on.