Barbara Can't Help Herself With Enso Ring's Pitch | Shark Tank US | Shark Tank Global

next into the tank is a safer version of something we wear every day [Music] hi i'm brighton jones and i'm aaron dally we're from salt lake city utah and we're the founders of enso rings we're seeking five hundred thousand dollars in exchange for seven and a half percent of our product that's disrupting the jewelry industry sharks do you know what this is if you're thinking wedding ring you're wrong it's an fad a finger amputation device it might sound crazy but it's true whether you're at the gym on the job or simply unloading your car at any moment your ring could catch on something and severely damage your finger or even rip it right off it's called ring evulsion and it happens to over 150 000 people per year enso rings are made of a proprietary silicone that's engineered to take a beating and adapt your active lifestyle and most importantly they're designed to break away when caught on something in short enso rings are the most stylish safe alternative to metal rings and wedding vans sharks this is a standard metal band just like the ones you're wearing right now and this is award-winning professional bodybuilder garrett coelho that my dear is a man barbara stay in your seat his biceps represent over 500 pounds of pulling force which is more than enough to tear your finger right off garrett what do you say we show them what happens when their ring gets caught on something oh wow oh my god now let's try that again with the real finger on a human hand and an enso ring and let's up the stakes this time and triple the pulling power luke darnell come on oh god now what about this lori and please whatever you do do not try this at home all right you guys ready in three two one pull oh yes and that's the power of an enzo ring so it just broke it just came apart thank you guys i appreciate it now i don't believe it let's do it again we probably need to dismiss these guys so you'll stop staring at their biceps and listen to the rest of our presentation so thank you gentlemen thank you all right sharks we brought samples for each of you robert here we go so what you're looking at is a specially curated selection of our rings you have different options thank you the ones on your right appreciate our loose rings that we took a guess at your sizes so you can try those on most people tell us that 30 seconds after they they put it on they forget that it's even there they're all plastic they're made of silicone a silicone rubber okay so in america how many people do you think get up in the morning and say wow i hope my finger doesn't get ripped off when i catch my ring in a rope pulled by a guy from mount zeus zero but that's a problem that is a big problem when you need it how do you get anybody even interested in understanding why they need an enzo ring 150 000 people in the u.s alone per year have a ring of old genetics that's your opening marketing but how many of those people get their fingers ripped off versus pulled strained you guys might have seen jimmy fallon's it took him off the the air for two weeks he was walking in his kitchen tripped on the rug ring gets caught on the counter top and nearly tears the finger off wow if you have an active lifestyle you're constantly taking your ring off putting it on and we haven't talked about all the applications these are really popular among nurses they match their scrubs we're talking about firefighters electricians physicians the military they can't wear metal rings tell us about you how you came to do this sure brian and i we've been friends pretty much our whole lives and we've always wanted to start a business together a few years ago i had a rock climbing accident i fell and on the way down my wedding ring got caught on the rock and there was that split why would you even wear a wedding ring while you're climbing it's not something you think about you don't wake up in the morning i always take my ring up i'm working out playing basketball not everybody does though some people just forget about it don't think about it what do you actually sell one ring for anywhere from 11.99 to 39.99 and what does it cost you to make it it ranges from 70 cents up to four dollars wow i'm gonna guess you guys have a ton of sales actually in the past 18 months we've done 3.8 million in sales whoa unbelievable i knew it this year we're projected to do a little over 5 million what so on the 1199 ring this one i guess it costs you 70 cents correct i love this and you sell this one for man which is the largest for how much 39.99 30. how much is that cost that one cost anywhere from two to four dollars why would that cost four dollars we wanted to get a band that looked like a metal ring everything out there we thought looked cheap we use actual gold in the gold ring so it gives you it has elements of flecks of gold in it it does wow i respect sales doesn't matter what i think it matters what the market thinks and i'm very impressed where are you selling them it's all through the dot com and marketplaces right it's all online it's uh been an amazing social media push your real expense is customer acquisition because you're selling online right and it's a fear sale so you're scaring the hell out of people to cause them to buy something so this last month what were your sales what did you spend on marketing yeah last month best month ever 460 000 in sales last month okay we spend about 40 on average you guys will spend 2 million plus in advertising and marketing sure you guys are a marketing company that just found a product that's not a bad thing you're obviously good at it but i i just scaring the hell out of people that their finger might get yanked off i just don't see that as a long-term business so for those reasons i'm out this fear this fear-based aspect is what we started with because that's what we understood but our largest market right now it's about it being a jewelry trend here's here's the thing i'm familiar with silicone because i make a lot of products in silicone there's just tons of these out there so i'm not taking away that you don't have great sales because you do have great sales but as an investor when i look at something i look at what's out there and then i think about what's going to be the likelihood of making my return on my investment while you might be great and your sales are great i think it's a little dicey because there's so much competition our model for those reasons oh i'm sorry okay thanks thanks laurie i find your messaging is mixed up i'm not sure it's a message save your finger or this is a fashion statement and trying to relay both of those and even in your packaging i don't see that messaging so i don't find that clarity that's going to hook in the customer that you want so with your great presentation skills i say think of your next business as fast as you can i like to think probably arrogantly that i understand a little bit about every business there's been a couple of times nine seasons people have come out and i'm sitting here and i'm going i have no clue why people are buying this that was tipsy elves and it was sand cloud tip sales was 72 million dollars this year wow what i learned in investing in those guys is there was a message behind their product even they didn't understand at the time so sometimes your consumers tell you and create the message barb is that on your message is very confusing but five million dollars for the customers can't be wrong so i'll make you an offer you're kidding robert you're really losing these guys are great i love these guys i'll give you the 500 000 for 20 it's it's a pure flyer for me it offers 500k i offer twenty percent thank you kevin i can speak for okay because i too have five hundred thousand i i two have an offer kevin i can't speak i find you exceedingly greedy let me give you an alternative when you walked in here you pitched us on this six plus million valuation i was going to give you the finger but now i'm wearing your ring and i'm feeling the love i really like it to me the opportunity here is to leverage that platform we call the something wonderful platform to reduce customer acquisition costs and i've got millions of customers i'm going to give you the 500 000 as a loan and because you can afford it you're gonna pay me two dollars per order until i make back 1.5 million then it goes away and i want five percent equity to be your banker and the person that provides you help in customer acquisition i would consider a counter okay thank you very much so you see something in it there's something here for sure i'd feel a lot better if one of you knew what the something was i'm okay with that i mean if if you're going to stand there and say we're only rings there's no business no no i like that thank you would you be willing to do 10 percent uh no well but let's talk about the evaluation i guess where are we coming up short with the numbers we gave you are you kidding the risk is huge it's just a risk comfort thing but here's what i will do i'll split the difference between 10 and 20 i'll do it at 15. you guys should grab that money and run like maybe you guys are crazy to take that if you believe what you said you're crazy to take 12 and a half nah i've been sticking 15. okay the last thing would be do you guys have interest in something together because the wedding platform is big for us not just the engagement side but then also do you understand it for like are you thinking through my offer it costs you a lot less if you're actually going to be successful because it goes away after basically 30 months i've already done the math i don't want to play with kevin okay i think access to the platform's worth something but also if you really think through my offer it costs you a lot less if you believe you're going to be successful you guys are going to figure it out 500 000 15 maybe they're smart guys they're smart guys no doubt they're definitely smart guys kevin thank you very much for the offer we're going to go ahead and take roberts yes yes congratulations thank you thank you that was awesome i don't understand it but i'm so excited i'll explain it to you along the way thank you thank you appreciate it very much [Music] it's possible kevin's would have worked out better financially and so is it for us for good and robert's someone who gets that it's incredible you can see it in his eyes from the beginning he was into it and we love that kind of passion you

Channel: Shark Tank Global

Views: 1,163,484

Keywords: Shark Tank, Shark Tank US, Shark Tank Australia, Kevin O’Leary, Barbara Corcoran, Daymond John, Robert Herjavec, Mark Cuban, Lori Greiner, Dragons’ Den, Money Tigers, Entrepreneurship, investment, reality tv, enso rings shark tank, enso rings after shark tank, enso rings replacement, enso silicone rings, barbara corcoran shark tank, barbara corcoran funny moments

Id: rsj3bCw5zuc

Length: 11min 15sec (675 seconds)

Published: Mon Jun 27 2022