Comments on: Shark Tank Episode 13 Recap

By: tootired

tootired — Tue, 26 Jan 2010 23:06:32 +0000

” think this is a promising product with many possible applications and can’t wait to see a followup how they did with it.
”

There have been a newspaper reports they got a deal to put the wipes in 4800 stores wheras they were only in 48 stores previously. So if they sold several thousand at .99 in just 48 stores then people had no issues buying the product.

By: tootired

tootired — Tue, 26 Jan 2010 23:02:27 +0000

“For instance the Element Bar guy got the following: 150k for 30%”

The 30% was what the sharks got out of the business. They become a major shareholder for providing their business expertise and contacts. So 30% of the company profits go their way.

The 4% royalty was for the licensing rights. Originally one of the sharks wanted 75% of the business. Then another wanted 100% of the company for a 4% royalty then it was counted down to 30% and the 4% royalty. You can do both. Would you rather trade away 100% of your business for a royalty on the licensing rights or trade away a fraction and get the small royalty in trade for an investor to come on board and possibly make the company worth millions in a few years?

By: Helen

Helen — Mon, 25 Jan 2010 21:13:03 +0000

I have a question, if one of you could enlighten me, I would appreciate it. Some of the deals are termed as: upfront money for a certain percentage of the business, plus a royalty. For instance the Element Bar guy got the following: 150k for 30% and 4% royalty. I don’t understand this. Typically, you buy in for a share of ownership (retain the right to manufacture) OR you sell the rights for a royalty (licensing the product). This seems to be some combination of some sort, and I don’t get it. Anyone? Thanks!

By: Brian S.

Brian S. — Sat, 23 Jan 2010 00:20:15 +0000

I’d like to comment on the monkey wipes too. Some of the Sharks were worried the concept was not unique enough, and that nothing was patented. I think their best bet (in addition to the cool logo) would be to patent the packaging, if they were looking to make any part of their product proprietary.

I am also one that thinks the 99¢ price seems a bit high, and they should also think about selling a 3-pack of wipes for say, $2.79 (each individually wrapped, but with a cellophane overwrap and a unique barcode).

But keep in mind these is the retail prices and stores can set whatever price they want, especially if they buy in huge volume where they’d get a slightly better deal from the manufacturer. I think this is a promising product with many possible applications and can’t wait to see a followup how they did with it.

By: Brian S.

Brian S. — Fri, 22 Jan 2010 21:13:52 +0000

No problemo, I love this site so keep the updates coming. Shark Tank is the best and I want it to stay on the air forever, so whatever we can do as fans should really help. WordPress should really add a spellcheck? I know Firefox does, but I only use it sometimes.

By: Admin

Admin — Fri, 22 Jan 2010 20:29:36 +0000

Thanks for pointing that out, Sorry about that. I have made the changes and will endeavor not to make the same mistake in the future.

By: Brian S.

Brian S. — Fri, 22 Jan 2010 20:23:41 +0000

for the recap: it’s wipes, not lights. and I think you meant, shops that “already” started to reorder.

By: John Lynn

John Lynn — Thu, 21 Jan 2010 21:17:42 +0000

Erin from Greasemonkey had an infectious smile. A bit over the top at times, but something about her was special.

So, is Shark Tank officially cancelled? Do we know?

By: Admin

Admin — Tue, 19 Jan 2010 20:23:12 +0000

Profits not sales plus that 6000 units is over 2 years.

By: minnow

minnow — Tue, 19 Jan 2010 20:20:58 +0000

The sharks did the math wrong. They said Podillow had about $20k sales. But 6,000 units @ $30 each is about $180,000.