Scott and David from TieTry appeared on last Friday’s episode pitching their tie rental service to the Sharks. Recently we caught up with Scott and he was kind enough to share a bit more about their appearance and experience on the show.
Question: Guys, your tie rental business did not ultimately receive an investment from the Sharks despite an interesting partial offer from Kevin O’Leary. Were there any particular Sharks were you hoping to partner with? If so, why?
A: David and I went to the Tank with an open mind. All of the Sharks have different attributes which would have been beneficial to add to our team.
Q: The Sharks seemed to balk at the early stage your business was in, yet you made it all the way to pitch them in person and many thousands of other businesses did not. Did the Sharks give you a fair shot in your opinion, despite your ongoing efforts to prove the market right at the time of filming?
A: The Sharks absolutely gave us a fair shot. The timing of the filming is completely beyond the control of both the entrepreneurs as well as the Sharks but that does not alter the negotiations that take place over the course of the hour of filming. Obviously it would have been more beneficial to have filmed the pitch once the business had been further developed but we are still immensely appreciative of having an opportunity to pitch the Sharks.
Q: Last night’s episode was seen by over 6 million people, and it’s probably fair to say that interest in your company hit an all-time high — what has the response been like so far from your appearance?
A: The response to the episode has been amazing. We have gained an amazing amount of new subscribers as well as hundreds of emails from people who want to get involved with TieTry in a multitude of capacities. We are very excited to launch our Campus Rep and customer referral programs in January.
Q: Daymond John called you out for not being passionate and “obsessed” with your business and you seemed to answer him very calmly. If you had it all to do over again would you have changed that response and taken another approach? (Feel free to answer that criticism as well).
A: Daymond said that we did not have a passion for fashion. But, we do have a passion for our business and for providing a service which we know will be a great benefit to thousands of men. We are not in the business of creating fashion. We are in the business of ensuring that men are able to receive thousands of dollars worth of ties each month for a low monthly cost.
Q: What are your hopes for the coming weeks and months for TieTry? Are you still looking for the right investor to take your business to the next level?
A: We have received dozens of offers of investment and we are currently evaluating each offer to determine the right fit for TieTry. In the next few weeks we look forward to a busy holiday season of gift subscriptions. In the next few months we look forward to implementing the Campus Rep and Customer Referral systems.
Q: How can fans of Shark Tank best show support for your business?
A: Fans of Shark Tank can support TieTry by visiting our social media sites, by spreading the TieTry message, and by buying gift subscriptions for the tie wearing friends in their lives.
Q: If you were to offer some advice to entrepreneurs that were preparing to enter the Shark Tank, what would that advice be?
A: The best advice I could provide for entrepreneurs entering the Tank would be for them to realize that the Sharks are fantastic potential business partners but if you have a good idea and a solid business plan they are not your only potential business partners.
Q: Is there anything else about your appearance that you’d like to share with viewers and fans of the show?
A: Shark Tank was a wonderful experience. David and I learned an immense amount throughout the process. The people from ABC, Mark Burnett Productions, and Shark Tank were extremely kind and helpful. We could not have asked for a better experience. Finally I would share with them the following quote: “Experience: that most brutal of teachers. But you learn, my God do you learn.” C.S. Lewis