Shark Tank US | Best Gag Gift Products From Season 13

next up is a unique way to show your team spirit [Music] hi sharks we're Gabe and Sean from Phoenix Arizona and we're seeking a 50 000 investment for 25 equity in our company sharks we love all things Sports and a rush of repping our teams we know many people consider being a fan somewhat of a lifestyle but with little innovation in the arena of sports and promotional Apparel in decades it's time to shake things up hey Sean what do you think of my hat come on dude that ain't no hat this is a hat introducing boss [Applause] looking good thank you so much [Applause] thank you so much it's bad we have created the world's first high quality fully customizable hat for our Die Hard fans called Noggin boss and they are turning heads everywhere our Noggins are made with top of the line materials and fit every head size from kids all the way to adults with large Noggins Noggin bosses are social media magnets players and fans flock for selfies and are always asking where they can get their hands on one Noggin boss is the perfect way to promote your favorite team charity party event business or cause and you'll get even more hype when you catch yourself and your brand on the Jumbotron so sharks use your Noggin and come be a boss with us do you have any sales we've sold thirty thousand dollars in four full months of business we actually launched our business in February of 2020 at the largest attended golf tournament in the world and it was a huge success we Then followed into spring training and as we all know the entire world and our supply chain shut down for about a year and a half but we use that time to hustle and we got on phone calls with buyers for both promotional teams and for licensed teams and it paid off in huge dividends we were actually recently featured in the NFL draft we also in the NBA Finals we got so much attention that even the NBA commissioner asked to meet us at one of the games and was given a noggin during that session you're stating like there's massive amount of interest but you only have thirty thousand dollars worth of sales the main reason why we're here is because we're on WE unfortunately can't fulfill 95 percent of our orders because they want a license logo yeah and so we're here to act to find a partner that understands how to navigate those Waters and so that we can accelerate did you get any kind of offer if you could figure it out we haven't no honestly we just relaunched this business our supply chain wasn't able to fulfill so we had to pull back until we were ready to go full how much are you making the hat for and how much you're selling it for so landed is is twenty dollars whoa and we're retailing it for sixty five dollars as well we've actually sold the hats at events for over a hundred dollars and we've had some Charities actually auction them off for over a thousand so how did you come up with this idea so the idea was born when my daughter and I entered a Best Dressed golfers competition and I wore a large hat that everybody loved and when I got home we made a few prototypes and tried it out at a few events and the response was so positive that we knew we just had to do this now did you approach any owners such as Mark because they can sell in their own Arenas have you approached anybody yet like that we haven't been able to get through to those individuals but again at the NBA Finals our exposure was Unreal over 40 of these Noggins into the finals why would you sneak 40 of these ends that's what was amazing I had two giant trash bags my wife didn't believe that it was going to happen and we got them in you got in with trash bags with trash bags which city in Phoenix in Phoenix he's Securities tight as a whistle wow so you need a shark to open doors for you that's why you're here because you're not asking for a lot of money we wanted to show that we are here to do a deal we did not want to put you guys off with all these Grand Anders that these could be the sales we can't tell you when we wear these hats and when we see people wear them you're giving away a million smiles and the amount of people that walk up to you and they want to take their picture with you it unites people like no other you guys have the manufacturing Logistics nailed down we do we're actually able to scale and one of the things that we pivoted during this whole season was to figure out local production which was very hard but we now have the proprietary equipment but are you making these in the USA or are you making them because you just said you got some expensive equipment that's the confusing part or is that for the embroidery embroidery so we're doing customization here locally oh all right okay so what does it cost just for the Hat without the embroidery around twelve dollars okay just for the half yeah okay so you have a patent on this you know we've trademarked and trade named everything that we can if you don't have a patent right well it's probably not patented it's not patent I know yeah I know but I mean the concern Becomes of another company says let's turn on that switch because they already have the license but they're only going to turn on the switch if they're already big right and there's a market there one of our biggest advantages we feel is that we have speed to Market yeah and we're already here we're ready to go we've seen the proof of concept go in because this is probably a sub license of a person who already has the prices yeah perhaps yeah yeah so what he's saying is you could go to somebody who already has a MBA license perhaps and just sublicense it really easily and that's why we're here we genuinely want somebody that understands that space that can help us navigate those deals because you really only get one shot I'll give you 50 000 for 30 percent Bingo and you know what if you do that deal with Damon I'll get you into the Mavs um the hangers what we call it where we sell merchandise so you could put Mavs on there and we'll you know bring 10 in or whatever see if they sell and and I'll make it easy for you this isn't something for me so I'm out but I think he gave you a great offer I'll give you fifty thousand dollars for thirty percent just take it right now yeah wait wait let me make an adult wait wait careful wait I'd like to make an offer guys hey guys over here I've been trying to talk over here please give us the opportunity to see the other offers I'd rather you know what you're gonna get right now let's just do it why wait a second Damon why I can't take your other offers they can't hear other offers let me speak Damon you got a deal good there you go baby that was incredible um we know that Damon understands the challenges and understands the contacts to get us into places that we need to be so we're excited for those doors just to get knocked wide open and we're excited for the world to get their hands on Noggin boss and love those guys those guys are great I love this thing I think it's very cool we will sell a bunch now we'll have to deal with people complaining take the hat off I can't see anything first in the tank is a business that seeks to Delight with their magical creatures [Music] hey sharks first of all I need to say thank you all the years watching Shark Tank inspired me to be an entrepreneur I turned a hobby I love into a business I'm Wendy Hofmeister owner Wendy's gnome shop I'm here seeking 200 000 in exchange for 20 equity in my company we can all use a little more joy in our life so I created Wendy's milk shop we make and sell decorative gnomes for your home and gnomes need homes they're for all types of occasions they make the perfect gift to put a smile on someone's face all year long we have pre-made birthday gnomes graduation gnomes sports theme gnomes and of course gnomes for every holiday at Wendy's gnome shop we love hanging with the Nomis and of our customers are feeling extra creative we have a custom option called design a gnome our customer designs a gnome from hat to boot choosing their colors and theme and we make their Vision come to life now throughout history gnomes have been known for good luck and prosperity so sharks who wants to prosper and put a gnome in every home with Wendy's gnome chop I don't even know what a gnome is so I designed these custom gnomes for each of you you know one day I don't have one has a crown Barbara we've chose you to experience designer gnome so I have to work for my gnome you get to pick it out yourself oh that's good now what do people use these for they're just around their home to make them smile oh the first step I want you to do is tell me which embellishment you would like on your hat oh definitely this so you want the sunflower the next thing is your hat color oh and your little boots this beers and I'll take a nice Red Hat perfect okay it'll just take her a few minutes to build your gnome so I'm ready for questions how do you acquire a customer that wants to buy one of these 50 is our website and about 80 percent is on let's just talk about your website business have you ever looked at how much it costs you to get somebody to actually want to buy one of these on your own website so our customer acquisition cost right now it's about five dollars what does it cost to buy a gnome our average price is about 35. what does it cost you to make one three dollars and fifty cents for materials right no but if I if I said look I have to have a gnome and I find this gnome expensive are there options that are cheaper I compare what's on Etsy it's about the same price range do people like brush their gnomes they do brush things you sell like no brushes we tell people that comb your known Kevin will give you something to finally comb again I'm just I'm amazed people pay 35 dollars for this they absolutely love them Wendy I want to understand the no market right because I wasn't even study the research that came out recently on the no Market yeah so those people love them they have a emotional connection with them they make them smile and feel good so what if your sales been to date so I've been in business 18 months and my cells are 688 000 lifetimes you've got to be kidding with these little things yes sir people like gnomes if I go online and look for gnomes there must be lots of doll gnomes I do have some competition they do have some Factory produced gnomes that are more like stuffed animals mine are much better quality I am the top gnome seller on all of etsy I've sold over 23 000 of them you have yes this is super impressive you started your hobby in 18 months yes almost hitting seven hundred thousand dollars yes how did you do that two years ago two years ago today actually um me and the love of my life our relationship ended and I was pretty heartbroken and I needed something to make me smile and I needed a hobby I made a gnome and I thought it was cute and I put it on Etsy and it sold the next day and I made some more and they sold so it was just like a spontaneous kind of thing did you always listen you a huge favor a broken heart turns to cash flow when did we establish that you're the gnome goddess right the question becomes how much did you invest to start this business and are you profitable to start this business I started with less than a thousand dollars broke baby that's only a 668 times return but you know and we're profitable so last year we netted 135 000. there you go okay that's great who's we how many people do you have in this business so I have um three ladies that work for me and my daughter Barbara's gnome is complete look at that I love it wow it's darling I now get it I feel immediately motherly toward it Wendy what's your background I was a nurse was my background and you know I I worked for a community-based program so I help women in labor and I loved it so much so then I decided that 35 years old to enroll in college for the first time to be a labor and delivery nurse curious lovely daughter gnome over there how do you feel about your mom and what she's accomplished oh my gosh I'm so proud so over the moon she's a huge inspiration yes we're both nurses and we both have retired from nursing to make gnomes this is an incredible a story the product is I don't I don't know what to tell you about it I mean it's you know I really respect sales but I don't need a gnome in my portfolio I really don't and and so I'm out okay thank you you have a thriving business and you deserve some serious credit for that thank you this isn't the right business for me but I think it's really cute and I'm super happy for you I'm up thank you so much yeah gnome goddess I just got to tell you I mean you are such a shining example for so many people you take three dollars and fifty cents you sell one which leads to two which leads to 674 thousand dollars whatever in sales it's great yeah yeah and I think I can grow it so much more I have no doubt but really you're a your Niche category right it's not a 5 million or 10 million dollar business it's a great business for you but it's not something I want to invest in so for those Reasons I'm out Wendy item I where can I add value to you or anybody here so I definitely feel like you know I want a strategic partner I think if I had someone that has marketing expertise SEO knowledge can really grow this business I've decreased the cost of making a known by 50 since I started by Learning To Source materials but I think I can improve that to even scale it more and I think someone with your experience can help me with those things well I think I can help you I only give you an offer you're asking 200 000 for 20 uh 200 000 for 35 that's my offer I think the hair on that gnome is falling off now you can counter Wendy well before you counter Wendy let me ask you a few questions I don't know the known business so is this something in the last few years people are into or they have been into gnomes from the beginning of time forever knows have been around forever okay my next question is you had 688 thousand dollars in sales but you only had 135 profit that strikes me like your overhead is way too high what are you spending that money on every month right so a lot of that actually is Etsy fees so that's why I'm trying to draw more people to the website you know what I had a business that was usually successful from the get-go Grayson lace and they sold 90 of their merchandise on Etsy but I learned from working with that business the importance of taking control of your own customer base I've done it with Holly ball I've done it with hire Santa and it's a lion's effort to build up your own club to get those people coming directly to you but you must if you want to control your business so I'm going to make you an offer of 30 for 200 000 but I want to welcome home so a royalty a gnome royalty I'm not calling it a royalty I'm calling it that's what it is it's a royalty you know we can make it more interesting two hundred thousand dollars thirty percent 50 cents per gnome sold until pay back the money and then we go straight to just a 30 Equity position okay and I'm dropping the one dollar for no so just 30 percent well that's interesting Wendy now you've really got a competition going on no I see that what are you gonna do Wendy foreign oh my goodness so Damon will you do that the same thing are you playing us against each other when she's The Gnome goddess why was she not I'm smart yeah you are why do you feel that we should keep negotiating against ourselves because this business is worth it worth it so my Revenue will be 750 this year and I will net 150. so out of 150 at 30 percent then I would have made fifty thousand dollars yes 25 of your Capital back not a bad deal David you know I'll match I'll match it I'll match her deal 30 30 for 200 000 that's not where my head is out on this I'm just sure excuse me I'm sorry you want to rule a person like that being your partner oh my goodness gracious and I'm going to tell you one other thing your enemy is your Reliance on outside websites and I know how to take it right off the outside and give you the power within your shop so not like I don't have bomba's the number one brand in Shark Tank history that sells direct like that so I can do the same you have two options just pick one I want to counter with 25 for 200 000 to both of them yes no I won't go that far no I won't either I'm sorry wow what are you gonna do Wendy Damon come on come on give it off oh my God thank you congratulations congratulations I don't know just in the moment it spoke to me like originally was taking Barber and then I was like Damon Damon did that's right perfect I'm so happy but the only thing that I think was the difference between you and I was that you didn't even know exactly no I didn't know I'm embarrassed to know I never excuse me I have a different question for both of you what the hell are you thinking I think that there is you can't argue with the male or potato yeah yeah I mean it deals like this that don't rot oh no next up is a tool that takes snacking to the next level [Music] hi sharks I'm Renee Heath and I'm Bashar jaode and we're banana we're seeking 250 000 in exchange for 25 of our very appealing business sharks my favorite snack of all time is banana and chocolate hazelnut spread the flavor combination is just delicious but what a mess have you ever tried to take slippery banana slices and try to spread peanut butter on them just doesn't work so we are here to put an end to this monkey business introducing banana Loca the very first kitchen gadget that allows you to core and stuff a banana while still in its peel first you core while still in its peel and then fill it with whatever you want it's so easy to use that the whole family can really use and enjoy wow wow not bad at all sharks creating Droid by putting something yummy in tummies and smiles on faces is why we do this so sharp which one of you wants to join our Bonkers banana bunch [Applause] [Music] sharks in front of you is your very own banana Loca to try how does it work Renee is going to walk you through it step by step please so first you're gonna take the banana and put the end into the straightener oh okay go ahead and straighten against that holder with one hand you're gonna take your core and when you insert it wait till it's fully inside and then give it a little twist to break off that core oh twist you know what let me just tell you that is oddly satisfying God or glad you're enjoying you just have to take your corn banana and go ahead and stick it into the nozzle I've become a pro at this already just like a new utensil there's a learning curve well it tastes great that's good that is good yeah I love this this is my favorite snack yeah this is genius thank you Robert so what else can you do with it you can fill Donuts churros Donuts zucchinis zucchini zucchini's actually another vegetable was cucumbers filled with cottage cheese but also a big segment was cake and cupcake decorating all your cells are obviously all online right correct and uh what are the sales we have done 134 000 in sales in five months wow wow wow with limited marketing really we've just rode the organic wave from different you didn't tell us what the cost was landed you're making this in China I assume correct our landed cost is six dollars six dollars and what do you sell it for 26.99 and how much do you have invested in it because I know you had to create a mold and everything else eight moles yeah so we have about 200 and 224 000 in our own money in it wow that was a big learning a thing for us I'm shocked actually at the price I have to be honest yeah that's crazy yeah you got a banana in the tailpipe on that one so I give you 250 000 sure what happens next sure the money will go towards inventory and paid marketing so we can really supercharge and put gasoline into our Market never have to do any paid marketing at all in this thing you're not going to take this to retail are you correct it's a very visual demonstration sure it needs to be demonstrated online it needs to go viral and people have to buy it from your site I like it but the only way this works for me and I'll be the first to tell you is this is a royalty deal that's what it is I'll give you the 250 000 and your margins are good enough to pay me back three bucks a unit that's how I get my money back no equity you own it my interests are aligned in using my social media to blow it up and say look this is a chef wonderful exclusive I'll sell a ton of these for you three bucks a unit yeah three bucks a unit you are being green I don't think so Kevin when does the royalty stop doesn't it never never well how do I make money Robert how do I make money how do they make money if you're they're always paying a royalty they get the rest I mean look it's an offer you can decide yeah thank you for the offer uh I I buy this type of stuff every day and my wife takes it as soon as I open it up she goes out to the backyard and she puts it in the garbage um and I I do like it a lot but this is one of those things you'll do with the kids once that's why and then it's going to sit up there with all the Tupperware it's not gonna work for me I'm out thank you Damon you're so early and it's just not a business that I think is investable for me right now so I'm sorry I'm out thank you Lauren I love gadgets I buy these things all the time look complete flyer I love you guys I I really think you're real intrapreneurial I actually don't know if it's going to go anywhere so it has to be a royalty deal for me I'll give you the 250 000 you're looking for three dollar royalty until I recoup three hundred fifty thousand dollars I also want 10 equity in case somebody buys the product or some other block thank you very much for your offer and believing in us really appreciate it what have you done in social media we have limited funds um right now and that's where we're doing advertising yeah yeah right so you should never have to spend a minute we're on Tick Tock or on Twitter and but you have not been able to get any traction yourselves effectively we do not nothing Monumental we need to we need to get a larger audience we started from zero under this brand yeah because I've done two food videos with my son the last one had 20 million views and the one before that had 11 and so I'm sorry Mark I'll give you 250 000. that's Mark Cuban's son right no I get it I get it right I'm not there I'm not trying to compare the show right we're here not just for the money we need the star power behind it giving us a little bit of an edge and a little bit of an endorsement is more important to us than the money because if you need star power I I think you need yeah definitely do yeah no I'm not dealing with that approach you never get your Capital back you'd be buying more and more and more inventory forever let me show you really think you need star power to drive this thing it's not a silver bullet right it's going to be a healthy execution on our side driving costs down getting some funds for inventory and some marketing and promotions well I take any attention to an Evergreen College we have the execution machine in place we just need to pour more gasoline okay guys I'll help you pour some gasoline yeah Kevin and I want to work together so we'll give you the 250 000 for 25 and we want a three dollar royalty but just until we're paid back and so if we hit barley on any of this it's easy money very quick so that's the deal what do you think would you would you be open to doing two dollar royalty no no problem Mr Wonderful and Mark we get two sharks wow we got our top two sharks they're going to bring both their forces big magnifying glass on our brand I mean to the Moon baby

Channel: Sony Pictures Television

Views: 283,047

Keywords: Sony, Sony Pictures Television, Shark Tank, Shark Tank US, Shark Tank USA, Shark Tank America, American Shark Tank, Shark Tank Pitches, Shark Tank bad pitches, Shark Tank Best Pitches, Shark Tank Covid, Shark Tank Season 12, mark shark tank, kevin shark tank, lori shark tank, daymond shark tank, mr wonderful, shark tank moments, shark tank deals, shark tank pitch, shark tank best pitch, kevin oleary, mark cuban, lori greiner, Barbara Corcoran

Id: 3hSqaAuoroo

Length: 28min 12sec (1692 seconds)

Published: Sat Apr 01 2023