Just Elementary, Inc. » Shark Tank Business Valuation & Negotiation Lesson Roominate, Floating Mug, Wedding Wagon, Kronos, Golf Simple Sugars
Shark Tank Business Valuation & Negotiation Lesson Roominate, Floating Mug, Wedding Wagon, Kronos, Golf Simple Sugars
In most countries the ratio of men to women in STEM (Science, Technology, Engineering & Mathematics) fields is highly skewed. Aiming to help encourage girls to develop interest in engineering are Alice Brooks and Bettina Chen who are from Palo Alto, CA. They have created a business called Roominate, which offers toys that are geared towards girls that help stimulate an interest in engineering, design and construction. AS you can see in the image, Roominate has a color palette designed to appeal to girls. The Roominate toy is designed to stimulate a creative building skills in girls. Roominate toy was popular on Kickstarter and is already sold online through retailers like Target.com Given that Chen and Brooks have already secured distribution for their business, expect the Sharks to show some interest in the business. Just which shark will bite on Roominate sill be interesting to find out.
Want to get rid of coasters for your mug? Then the Floating Mug pitched by Tigere Chiriga will be something you’ll want to see on Shark Tank. The Floating Mug is mug design inspired by banana holders. The picture speaks for itself. Chiriga sells the floating mugs online at his website and on Amazon.com. Chiriga will likely be looking to pitch the sharks for working capital to ramp up production and the secure distribution. The Floating Mug is another successful veteran of Kickstarter.
Food trucks are super popular, as they can come to you! How about doing the same for a wedding, what better way to have a shotgun wedding than to have wedding come to you?!?!? Well, for those to whom that appeals, Adrian Gonzalez and James Cass have pioneered the mobile wedding business, which they have based in Las Vegas, Nevada. Their business is called the Wedding Wagon. It is basically a chapel on wheels, so let’s see how appealing the sharks find the business. The segment will feature some hijinx from Barbara Corcoran and Kevin O’Leary, but ultimately numbers and scale-ability will talk, if the sharks see both, expect them to make offers, if it is just one, then most likely not.
Most golfers take golfing very seriously as a hobby or sport. So much so, that it is a huge industry. Golf club are a big deal for most golfers, but putters are often overlooked, so Phillip Lapuz and Eric Williams pitch the Shark Tank a business called Kronos Golf. Kronos Golf offers finely crafted putters. Kronos Golf is based in San Diego, California. Kronos is an independent manufacturer that also has a sales channel in Japan. The market and profit margins in the industry are high, so expect a lot of shark interest assuming the duo of WIlliams and Lapuz have created good margins for themselves.
Getting another Shark Tank update segment is Lani Lazzari from Pittsburgh, PA for her line of All Natural Body Scrubs called Simple Sugars. Lazzari was 18 at the time of taping her original Shark Tank segment for Simple Sugars, but Mark Cuban showed tremendous faith in her abilities. Lazzari was poised on the set, which Cuban and the other sharks on the panel. More surprising though is that shebegan creating her all natural body scrubs when she was eleven years old. She created Simple Sugars Body scrub based on her own personal need, since she has sensitive skin. In a previous update segment all was going well with the company, so it will be exciting to see more growth. Has Lazarri taken a leave from college to run the business full time, or is she going to school around her work day? Either way, expect to see some good news for the precocious entrepreneur from Pittsburgh.
Want to read recaps of previous Shark Tank episodes? Click here to see the entire collection episode recaps, all of them with business lessons you can take away from each pitch.
For More information on how Just Elementary, Inc, Business Brokers can help you with Valuation Matters & Negotiation Techniques for your business contact our Client Care Manager Sonia Chhabra at (888) 926-9193 or email cs@justelementary.com