Just Elementary, Inc. » Business Tips
Marketing Questions on Shark Tank
Getting a Shark Tank update segment are Keeley Tillotson & Erica Welsh from Oregon of Wild Squirrel Nut Butter. Keeley & Erica asked for $50,000 in exchange for 10% equity in Wild Squirrel Nut Butter when they appeared on Shark Tank, which translated to a Business Valuation of $500,000. Wild Squirrel Nut Butter is a company that manufactures special Almond and Peanut butters They started the company out of their college apartment. As they are … Read entire article »
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Business Models & Business Valuation Lessons from Shark Tank
The Shark Tank update segment will feature the Voyage-Air Guitar. Voyage-Air Guitar is a guitar designed to alleviate travel headaches. That is because the Voyage-Air Guitar is a foldable guitar that makes traveling through airports, bus stations and other transit stops a LOT easier. Concerned about the quality of the folding guitar from Voyage-Air Guitar? Well, it is highly rated by musicians. Steve Cohen is the entrepreneur behind Voyage-Air Guitar. While Steve Cohen walked away … Read entire article »
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Business Valuation & Negotiation Lessons from Shark Tank
Last into the Shark Tank was Michael Tseng to pitch his innovative Plate Topper. Michael Tseng was asking for $90,000 in exchange for 5% equity in Plate Topper, which translates to a $1.8 Million Business Valuation. Plate Topper is a unique suction based microwave safe cover for plates. The product was quite a hit with the Sharks, as it had proven itself with prior appearances on QVC.com and was available on Walmart’s website. The segment took approximately two hours to … Read entire article »
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Negotiation Lesson from Shark Tank – Counter Offer with Conviction
First into the Shark Tank was Scrub Daddy, the creation of Aaron Krause. The Scrub Daddy isn’t any ordinary sponge, it can morph from a very soft sponge (Activated by Hot Water), to a firm sponge (activated by Cold Water) that can scrape tough food stains. Aaron Krause is a clever inventor, and with the Scrub Daddy had a big hit on his hands. Prior to taping on the set, Aaron Krause had sold the Scrub Daddy on QVC on … Read entire article »
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Business Valuations Too High isn’t Always a Bad Thing – Shark Tank
Dallas Robinson and Mike Buonomo of Kisstixx were the Shark Tank update segment. Mark Cuban invested in the young entrepreneurs. Kisstixx is a product which is a mix and match lip balm that creates a fun tingly flavor experience for kissing couples. Dallas Robinson and Mike Buonomo asked for a $1,000,000 valuation for Kisstix by offering 20% equity for $200,000. Mark Cuban made an offer of $200,000 for 40% Equity ($500,000 Valuation). He made … Read entire article »
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Business Lessons from ABC’s Shark Tank – Negotiation Techniques and Business Philosophies
Third into the Shark Tank was Cheryl Rigdon presenting her products, the Spatty and the Spatty Daddy. The concept is simple, Spatty and the Spatty Daddy are spatula like products that small enough to get into tubes of cosmetic products, and lotion bottles, etc. to scrape out the hard to reach portion of the remaining product. This type of product is definitely appealing to consumers who hate to waste, and save money. Putting this product on … Read entire article »
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Capital Expenditures Costs and Timing to signing a Retail Lease for a New Business
Negotiating a new lease for a new location and trying to figure how long it will take to get your doors open for business? There is a lot to consider when it comes to timing and budgeting, and here are a few of them: ● Working Capital ● Security Deposit and First Month’s Rent ● Tenant Improvement Costs & Carrying Costs ● Municipal, County & State Permits ● Opening Inventory/Supplies ● Payroll Budgeting Working Capital Needed to Start a Business Working Capital is a key … Read entire article »
Filed under: Business Tips, Commercial Leasing
Keys to Getting Investor Money & Investments on Shark Tank
This episode features the return of Lori Greiner to the Shark Tank, as she will alternate with Barbara Corcoran in Season 4 episodes. First into the Shark Tank was Back 9 Dips. Back 9 Dips is the brainchild of Dominique & Kevin Mealy. Dominique & Kevin Mealy product is a collection of blended chicken dips that you can find in grocery stores like Publix and Winn Dixie. The business wasn’t big at the time of taping, and as such, the Sharks did not demonstrate strong … Read entire article »
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Importance of Sales, Revenue & EBITDA & Profits on Business Valuations – Shark Tank
The Third Product in the Shark Tank was Tereson Dupuy of FuzziBunz which you can find on Amazon.com. FuzziBunz are a 100% resuable diapering product, that are eco friendly and money saving. A seeming win win product in that it is eco friendly and money saving. Of course, there is the yuck factor of handling a reusable diaper and washing them. Aside from that the main crux of the segment is that Tereson Dupuy had … Read entire article »
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Negotiation Clinic: The Art of Leverage When Selling – More Shark Tank Business Lessons
Third into the Shark Tank were Abby Jordan & Becky App. They were there to represent eCreamery.com. eCreamery.com is an online gift shop for gelato and ice cream with many custom flavors. At the time of taping, the duo were operating a retail location as well. eCreamery.com had recent year sales of $750,000 but only bottom line profit of $60,000. This is not unusual, retail brick and mortar businesses have a lot of overhead in Rent, … Read entire article »
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Shark Tank Business Lessons: Negotiation Lessons of Leverage
The Shark Tank update segment was about Rick Hopper’s Readerest, which is also known as SpecSecure. Obviously, the deal with Lori Greiner has worked out, but read this previous article that details what a masterful negotiation job Greiner did, and how Hopper could have kept significantly MORE equity and kept more of the ongoing profit. In short, there was no way Greiner was going to NOT make the deal. The product is PERFECT for a … Read entire article »
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Increasing the Value of a Business: Exit Strategy Planning for Selling a Business
Want to make your business more valuable? A business owner should always have the long term in mind when operating a business. This means doing things to make the business more valuable upon transfer, whether it be by sale to an arms length third party buyer, or in some other fashion. Additional Text is below the embedded Video Here are some basic things to consider in regards to Increase the Value Of a Business Customers: • Minimize Customer Concentration: … Read entire article »
Filed under: Business Tips, Business Valuation, Selling A Business
Interview with Puppy Cake Founder Kelly Chaney As Seen on ABC’s Shark Tank
Entrepreneur Kelly Chaney of Pittsburgh Pennsylvania was kind enough to sit down and answer questions about the growth that she and her company have experienced since taping and appearing on ABC’s Shark Tank. If you are interested in ordering Puppy Cake, you can find it in Retail Stores, the Puppy Cake Website and on Amazon. Just Elementary: How long were you actually in front of the Sharks? Kelly Chaney of Puppy Cake: I wish I could remember how … Read entire article »
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Counter Offers & Business Valuation Calculations on Shark Tank Finale
First into the Shark Tank was Ryan Custer of Cougar Limited. Ryan Custer was asking for $150,000 in exchange for 30% equity in of Cougar Limited, which translates to an asking Business Valuation of $500,000. Ryan Custer was on the set to promote his beverage line catered to middle aged women. Custer calls his targeted beverage a ‘Lifestyle’ Drink. The Cougar Limited beverage is similar to 5 hour energy, in that it is a Zero calorie beverage. Given that … Read entire article »
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Value of Negotiation Leverage in Negotiating a Deal on Shark Tank
First into the Shark Tank were Keeley Tillotson & Erica Welsh from Oregon of Wild Squirrel. Keeley & Erica were asking for $50,000 in exchange for 10% equity in their company. You can find Wild Squirrel on Amazon.com. This translates to an Asking Business Valuation of $500,000. Wild Squirrel is a company that manufactures special Almond and Peanut butters. At the time of taping, they were offered in five varieties which you can see on their website. They … Read entire article »
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What is a Business Broker & How Do They Help Me Sell My Business?
What is a Commercial Business Broker? A Business Broker helps a Business Owner Sell his or her business to a Buyer. Similar to Residential Real Estate Agent, except the client/product is a business, not a house. Here are common questions we get: Question: Does a Business Broker Buy the Business from a Business Owner? Answer: No! A Business Broker packages a business for sale and markets the business to attract qualified buyers. What does a Business Broker Do for Business Owners? Prepare the … Read entire article »
Filed under: Business Tips, Business Valuation, Commercial Leasing, Due Diligence, Featured, Negotiation, Selling A Business
Shark Tank Business Valuation by the Percentages
Last in the Shark Tank was Fleetwood Hicks of Villy Customs. Fleetwood Hicks’ Villy Customs offer customized Cruiser Bikes that are incredibly colorful and well designed as attested to by Daymond John on the Show. Fleetwood Hicks was asking $500,000 for a 33% equity stake in Villy Customs ($1.5 Million Dollar Valuatio). The Sharks were thoroughly impressed, and you can see why in the pictures below. The bikes are incredibly colorful and the Sharks were … Read entire article »
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How to Get Your Business or Product on to ABC’s Shark Tank
Straight from ABC’s website are the instructions for getting on to the hit ABC TV show called Shark Tank: How to Apply to Get Casted on ABC’s Shark Tank. Important note is to download the application form prior to going to an open casting call. There is an Open Casting in Chicago coming up Friday May 11th, 2012 from 10 AM to 5 PM. Location of the Chicago Open Casting call is the Embassy Suites – Chicago Lakefront There is also … Read entire article »
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Shark Tank Negotiation & Valuation Lessons
First up on ABC’s Shark Tank on was Barbara Lampugnale of Duality Cosmetics to promote her all in one Nail Polish pack called NailPak. NailPak Nail Polish comes with a handy attached nail file and pre-soaked nail polish remover pads for easy on the go repainting of nails. This is a product that definitely seems like it would get strong interest from Lori Greiner, and it did. An upcoming update segment on Barbara Lampugnale’s NailPak will air … Read entire article »
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Why James of Vino Di Copa was Right (Not Wrong) to Turn down the offers from the Shark Tank
There was a lot of negative commentary against James Martin of Copa Di Vino on twitter and even on the Copa Di Vino facebook page. The main sentiment among the negative commentary was that James Martin of Copa Di Vino “blew” his second chance in his repeat appearance on the set of Shark Tank. But, do the numbers agree that he blew his chance? First we’ll break down the numbers, and then describe how it played out. So let’s break this down in order of presentation on the … Read entire article »
Filed under: Business Tips, Business Valuation
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