Just Elementary, Inc. » Business Tips
Business Valuation includes Debt On Shark Tank
Making a return appearance on the Set of Shark Tank was James Martin of Copa Di Vino. He appeared on the Show in the previous season and turned down an offer from Kevin O’Leary which was for $600,000 in exchange for 51% equity. The reason James Martin turned the offer down the first time was that he was interested in growing Copa Di Vino Brand, whereas Kevin O’Leary was only interested in licensing the Single … Read entire article »
Filed under: Business Tips, Business Valuation
Q&A with Gary DeJohn of Vinamor Wine Aerator – Shark Tank
For those that are curious about the Vinamor Wine Aerator that was featured on ABC’s Shark Tank, we present a Q&A interview with owner Gary DeJohn. Just Elementary: What kind of research about the Sharks did you do before you got to the set to present your pitch? Did you know which Sharks were going to be on the set? Vinamor: Yes, They let me know ahead of time which Sharks I would be pitching to. Just Elementary: When did you … Read entire article »
Filed under: Business Tips
Business Valuations and Knowing Your Numbers on Shark Tank
First up on the Shark was Nick Romero of The Ave. Nick Romero was asking $125,000 for 15% equity ($833,333 Valuation) for The Ave, which is a concept that is operated out of a retail location in Venice California. The Ave offers customers the ability to customize apparel. In the segment, customized shoes were highlighted, which required a special platen that Nick Romero had a patent pending for at the time of taping. Being that the … Read entire article »
Filed under: Business Tips
Q&A with Melissa Kiernan of Last Lid as Seen on ABC’s Shark Tank
Melissa Kiernan of Last Lid was Kind enough to take some time to answer questions about their experience on The Shark Tank Set, and how it has affected their business since the experience. Just Elementary: How long did it take to finalize an arrangement with Daymond John in writing? Last Lid: When we got back from shooting we heard from Daymond personally about a month after. Our agreement was finalized 3 months later. Just Elementary: Was there a lot of back … Read entire article »
Filed under: Business Tips
Each Percentage Counts for More than it sounds like – Shark Tank Business Valuation Lessons
Third up on the Shark Tank was Gary DeJohn of Vinamor Wine Aerator. Gary DeJohn was asking for $75,000 in exchange for 30% equity ($250,000 Valuation). At the time of taping Gary DeJohn had sold approximately 1,000 unit. The Vinamor Wine Aerator is a great wine aerating product that can be conveniently used in restaurants to quickly aerate a newly opened bottle of wine, which increases the customers’ enjoyment of the wine. This is a win-win … Read entire article »
Filed under: Business Tips, Business Valuation
Shark Tank Business Lessons
First up in the Shark Tank was the Profender by Tony Devine, who was asking for $75,000 in exchange for 15% equity (Which is a $500,000 Valuation). The Profender is a basketball training tool to help shooters simulate game situations where a defender is closing out on them to contest the shot. The way this is currently done in most training situation is by having assistant coaches use brooms to extend their reach while basketball players … Read entire article »
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Why Business Valuations are not as simple as One Formula Fits all
Dallas Robinson and Mike Buonomo of Kisstix were the first pair up on Shark Tank. They were on the show to pitch their product which is a mix and match lip balm that creates a fun tingly flavor experience for kissing couples. Dallas Robinson and Mike Buonomo were asking for a $1,000,000 valuation for Kisstix by offering 20% equity for $200,000. Given that Gross Revenues were about $80,000 Kevin O’Leary asked how Dallas Robinson and Mike Buonomo came up with their … Read entire article »
Filed under: Business Tips, Business Valuation
Negotiation Clinic by Lori Greiner on ABC’s Shark Tank
The final segment of Shark Tank had one of the the most interesting negotiation session in Shark Tank History. It had Lori Greiner at her Negotiating Best. Rick Hopper of ReadeREST, which you can find on Amazon. ReadeREST is strong stainless steel clip that sticks to a shirt because a backing strip featuring neodynium magnets. Hopper was asking for $1,000,000 Valuation ($150,000 for 15% equity) The ReadeREST product demonstrated really well, as Hopper intentionally fell … Read entire article »
Filed under: Business Tips, Business Valuation, Negotiation
Shark Tank Tricky Business Valuations & Profit Margins
First up on ABC’s Shark Tank is Last Lid (@LastLid). The proprietors of Last Lid are Melissa and Kevin Kiernan of Waldwick New Jersey. Their product is a fabric lid that covers outdoor garbage cans, and prevents them from being tampered with by animals. The Kiernans have a problem where their garbage cans are frequently tipped over by raccoons and other foraging animals. After finding no suitable replacement at local hardware stores, the Kiernan’s developed their product. … Read entire article »
Filed under: Business Tips, Business Valuation, Negotiation
Leverage is Key to Winning Negotiations Shark Tank
Having the leverage in a business negotiation is fleeting, and needs to be leveraged before it is lost. That was a key lesson in this episode. First up in the show was Ivory Tennelle from Irvine, California. Ivory Tennelle is the creator of the the Swilt. The Swilt is a combination Hoodie Sweatshirt with a fold up blanket portion. When the blanket is folded up, it looks like a baggy sweatshirt. With the blanket unfolded, Mark … Read entire article »
Filed under: Business Tips, Business Valuation, Negotiation
Shark Tank Keeping Your Cool During Negotiation
Last up in the Shark Tank was Donny McCall of Invisa-A-Rack (@InvisARack). Invisa-A-Rack is an innovative product that is used on pickup trucks to help organize and haul additional cargo. You can find Invisa-A-Rack on Amazon. The genius of the product is that the racks can fold away and be out of sight, letting the truck not look like a cargo vehicle when desired in less than a minute. This is a product that makes a lot … Read entire article »
Filed under: Business Tips, Negotiation
Corporate Contractor License Advantages: Liability Protection, Transferability and Resale
California Contractors often ask us if there is any benefit to converting their business from being operated with a personal individual contractor license and a corporate contractor license. There is obviously costs associated with creating and maintaining a corporation and making the application to do the transfer. For a lot of contractors, these costs may be worth it for the following benefits Liability: Operating under a corporate contractor license adds an additional layer of liability protection from yourself. Transferability: Transferability … Read entire article »
Filed under: Business Tips
Examination Waiver for California Contractor’s Licenses
Since 2003, getting Examination Waivers for a California Contractor License is no longer automatic from the CSLB (Contractor’s State Licensing Board). So how do you know if you are eligible for receiving a waiver for taking a California Contractor’s license exam? One situation is where there is an unfortunate death of a licensed contractor of a family run business. If you are the surviving spouse or child of a business that is in need of a licensing, … Read entire article »
Filed under: Business Tips
Impact of Credit Issues For Business Owners Regarding Financing For Businesses
A great thank you to Fred Chen of CreditRepairTheSmartWay.com to sit down with us at Just Elementary, Inc. to discuss Credit issues for small business owners. Fred is kind enough to answer questions that are relevant to business owners about what they are up against when it comes to getting various financing options from banks. Just Elementary: Late payments are a death knell because they indicate a lack of responsibility on the borrower’s part to fulfill the … Read entire article »
Filed under: Business Tips, SBA
What a Small Business can do to Prevent Employee Problems (Hiring, Wages, Overtime, and Workplace Policies)
A key ingredient of success for a small business owner are the quality and productivity of the employees. Also, it is important to make sure that employees do not become a drain on the resources of a business, in terms of lost productivity and distraction for the executive staff. Of course, as a business owner, you are where the buck stops with properly hiring, training and motivating (managing) your employees. In this article, we will … Read entire article »
Filed under: Business Tips
Books & Records and Your Lease Two Factors That Impact the Attractiveness of Your Business to Potential Buyers
Two Tips to Sell Your Business Easier for a a Higher Price In most cases, there will come a time when the timing will be right to sell the business. To maximize the value of your business, you will want attract as many qualified buyers as possible. What are the things you can do to make your business as attractive as possible to maximize your buyer pool? Here are two topics that we’ll address in this post: #1. … Read entire article »
Filed under: Business Tips, Commercial Leasing, Selling A Business
Basics of Applying for Lines of Credit, Working Capital & Business Acquisition Loans
Trying to get a Working Capital Loan, Line of Credit of Business Acquisition Loan? There are a lot of erroneous perceptions among business people about which facts, figures and terms are important in getting a loan and which bank to get loans from. If you are just starting out in business, one possible benefit from banking with a smaller community bank that is that you will be a bigger fish in a smaller pond, and you will … Read entire article »
Filed under: Business Tips, SBA
Exit Strategy Planning Review: Data Security & IT Issues in Small Businesses
Continuing in our series on Exit Strategy Planning, we bring you an interview with Dan Le of Red Cup I.T. Red Cup I.T. is based out of Santa Ana, CA and provides computer related technology services for small business owners. Securing and managing the data of your business is very important. There are many issues at play, starting with the security of your confidential financial data, confidential client data, intellectual property, and network uptime. If your business … Read entire article »
Filed under: Business Tips, Selling A Business
Seller Financing Why & Why Not to offer it in Selling your Business
Given the serious tightening of lending criteria, we’re back to the good ‘ol days of using seller financing to sell businesses again. So, what are the things you should consider in deciding whether or not to offer seller financing? (A) Why you shouldn’t offer seller financing: You need all of the money upfront You have to payoff business debts You are concerned you won’t get paid back (B) Reasons you should offer seller financing: Make buyers feel the business offering is credible … Read entire article »
Filed under: Business Tips, Selling A Business
Selling a Business, Is the Inventory a Deal Killer
When selling a business that involves a significant amount of inventory, there are steps that can be taken to make the business easier to sell. What are some of the common issues that inventory creates that can be impediments to successfully closing a sale to a buyer? Too much inventory Too much inventory can cause the asset value of the business to exceed the market value of the … Read entire article »
Filed under: Business Tips
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