Yeah.
Tell us about that, too. So, we're both running
the business right now. We both have day jobs.
I'm in school. I'm gonna be a freshman
in high school. And my dad works
in medical sales. We have a private label
partnership with one of the most
recognizable brands in painter's tape today,
and they are presenting us to their 55,000
worldwide locations. They have already gotten us
into 250 Meijer locations across the Midwest. And we are in all eight
distribution centers of one of the largest hardware
co-op locations in the world. And our private label partner
is getting us into 2,000 locations. And it's important to note
that we don't have an exclusive
with this partner. They're paying you a royalty
on unit sales? No, it's a private label,
so we are the manufacturing. So you're manufacturing
for them? Yeah, so we do have
a strategic partnership in Nashville, Tennessee,
that does all of our picking and packing,
all of our EDI order entry. And they do --
we're about -- I love this kid.
I love him. Mycoskie:
The vocabulary is insane! EDI -- I didn't learn that
till my fifth year at Toms. We're about 70% online and 30% in retail right now
about our sales. We have sold $220,000 in sales
over the last two years, with $150,000 of that being over
the last year and a half and $70,000 of that
being this year. We got another shipment,
and we are on track to do $400,000 in sales
this year. -That's excellent.
-Wow. Good for you. The three-pack costs you
how much landed? $1.99 landed. -Including packaging?
-Yes, and shipping. -So $1.99.
-Landed. The individual cup costs us
90 cents landed. Okay, and what are you
selling them for? The individual cup,
we wholesale for $1.89 and retail for
$3.99 to $4.99. And the three-pack,
we wholesale for $4.25 and retail anywhere
from $9.99 to $12.99. Normally on "Shark Tank,"
when you bring in your son, usually, the father
gives the pitch and the son does a little demo,
and then off they go because things are gonna
get tough in the Tank. So far, Carson's doing
all the talking. You're not saying anything. You know what?
I have all faith in him. We run this business
50/50. He knows
what he's doing. I've gone to trade shows
with my dad. I've gone to buyer meetings
with my dad. One buyer,
we both walk in. She looks me dead in the eye
and says, "Oh, you brought your kid. He can sit in the hallway,
I guess." And I said, "Oh, no." So that's when we pulled up
a chair out of the hallway, and I led the meeting. Oh, he went out,
he grabbed the chair... Mycoskie: Nice!
...he pulled it in. He's being modest.
He has four patents, okay? A utility patent on
the TouchUp Cup.
Wow. And three design patents on the Muffin, Bagel,
and Doughnut Fresh. Hold on. You're 15 years old,
and you have four patents. Yes. These are three
of my newest products -- the Muffin, Bagel,
and Doughnut Fresh. They are absolutely
a part of this deal. They are
ergonomically designed to keep muffins, bagels,
and doughnuts fresh for three to four days longer
than conventional packaging. So you're throwing that in? Yes.
You're not selling those yet? Well, it's about 5%
of our sales. Carson, this is super impressive
how much you know your stuff. Blake, I learned
the words "purchase order," "private label," you know,
"distribution" around 27. He just spits them out. 'Cause you didn't get to watch
"Shark Tank." Yeah. Mycoskie: I would love to
help you grow this business, so I would love
to make you an offer. You're asking for $150,000
for 10%. I'd like to give us some more
cash flow, some more runway, so I'd like to do $200,000
for 25%. Wow. Thank you so much
for that offer. This guy just made a better
offer than I would, and I was
about to give $100-- Let Carson hear
a bid-ask situation. No, but I was gonna give
$150,000 for 25%, and now he did -- he did
$200,000 for 25%, so I'm forced to do $200,000
for 17.5% to cut his legs out
from underneath him. O'Leary: Yes! Yes!
[ Laughter ] Are you serious?
I'm serious. Thank you for that offer. That is
a really interesting dilemma you've got there, Carson. Oh. What a Shark. Cuban:
So, I'll make it simple, guys. I love you.
You guys are amazing. But those guys
have made great offers, so for those reasons,
I'm out. -Thank you.
-Thank you, Mark. -Congratulations.
-Thank you for your time. My dilemma is this --
I want Carson to drop out of school
and become a CEO. Carson: I just finished
eighth grade. I don't think that's
an option right now.
00:04:07.914,00:00:00.000
I'm out.
And I'd have to agree.
