Shark Tank US | Calm Strips Entrepreneurs Pull A Shark Back In

next up is a product to help anxiety hi sharks I'm Michael Malkin and I'm Lucy Fuller and we're from Newport News Virginia today we are seeking 250 000 in exchange for 10 of our company com strips com strips are a cool new way to help people reduce their anxiety and that is just scratching at the surface have you ever had a day like my animated friend Charlie here this traffic is stressing him out this cartoon Cloud came out of nowhere and Charlie forgot his umbrella oh Charlie and now his phone is blowing up with angry messages from his comically evil boss we've all gotten them but this brings Charlie's anxiety to an all-time high luckily Charlie remembers he has calm strips a healthy way to calm and ground himself comp ships might look like any other sticker but they're actually textured sensory adhesives people everywhere are rubbing scratching or picking at the textured surface of their calm strips to help reduce fidgeting increase focus and regulate Restless energy they're reusable and residue free meaning they can be stuck to your phone your laptop your desk teachers and students alike love them because it helps kids manage their own Restless energy without disrupting the rest of the class so sharks who wants to invest in bomb strips and show the world how easy it is to take a little bit of calm with you everywhere so in front of you I see you guys are all about it already I love that um so we have both the soft sand and the newer River Rocks Textures in the calm circles and calm strips how does this work I originally came up with the idea for com trips because I for the last 13 years before doing com trips worked in an Apple retail store it's a really busy environment and I found that it was incredibly stressful and it would kind of trigger my anxiety so I found that I started wrapping a little bit of Carpenter's tape around my finger and kind of rubbing on that it would help me to kind of calm down and science does show that touch especially tactile sensory touch can have a significant impact on reducing people's anxiety and making them feel calmer so guys I just don't get it what was your market research though you say it worked for people the reason I say that is because over a hundred thousand people get it we have a return rate of less than one percent what does it cost to buy one of these you get a five pack of either for 12.49 what does it cost you to make it the soft sand cost us one dollar and for the River Rocks it costs two dollars I love them e-commerce so it does cost us a couple you know about three hours or so margins how much do you sell any of this stuff yeah so we launched early last year you guys hold on to your socks there you go since then uh we've just crossed 2.5 million dollars in sales [Music] I love um [Applause] do you have a zero return rate because it's so inexpensive to buy that people aren't going to bother to ship it back and in fact what I will say is that we don't even make people ship the product back if they don't like it and they let us know they don't like it we offer them a full refund so it's not even sure the shipping cost talk to me about the trend line are the sales continuing to increase at the same pace for the last three months so we've done about four hundred thousand dollars in the last three months you've got to be making a boatload of cash last year we had a profit of about 193 000 this is our slow season but Mike why would there be a slow season because people have less anxiety in the summer stress is not seasonal and that is a huge part of who we sell to we're in 3 000 schools as of right now we've actually spoken to doctors we've had special ed teachers and they all agree they all use our product they all agree that you know to funnel excess anxiety energy which is what it is it's your fight or flight in in gear right so put it here put it somewhere I accept the premise my my God kids are autistic and one of the things we're really trying to do with them is to calm them down we try to get them in their case it's not this it's a small blanket yeah it's sensory um 45 million Americans live with anxiety I don't think this is an issue that is ever gonna go away um I talked a little bit earlier that when we built this company we we built it from the heart and we're not in this to make a buck I wasn't going to mention this in this pitch but I I have a five-year-old son who was recently diagnosed with autism and like we hear from parents who say this is helping my son and my child and so I'm not someone who's in it for the buck I'm really truly in it to help people Lucy I called her out of blue and said can you come help me with this and she said yes and I think it's easy it's easy to look at and say this is silly sure it does look silly but we do absolutely everything we can we have a poster hanging up in our office that says at com trips we want all of our customers to be happy these numbers are just astonishing amazing impressive but I don't get it I'm out yeah but congratulations I'm excited about that thank you look it's a great business for you guys but in order for it to be investable in my opinion it's got to be a multi-product company that scales so for those Reasons I'm out all right guys nobody buys fidget Spinners anymore they had a purpose they were selling a lot a year from now what if no one's buying this we are working on something right now where it can be die cut into shape so you can trace your finger along it I think there's a lot to do I mean it's always the texture you see a lot there's a lot of room for growth here I want to come along for the ride but I need to get my money out so Michael here's my offer I will give you the 250 000 um 35 percent I believe in it but I don't want to risk my money can we can we counter back because that's a lot of percentage there's a lot there's a lot of percentage it's a lot of sharks sure um or let's cheer this off no equity zero okay I want two dollars and fifty cents a unit until I get back my 250 000 and it drops to a buck in perpetuity I am allergic to the word perpetuity sir I respect that but we don't know if this has Perpetual life at all I'm I'm hoping you'll come up with another product all right I like that better I will give you 250 000. two dollars and fifty cents a unit until I get my money back and then a dollar fifty until I get a 3X return on the initial Capital the difference is my deal ends this one for as long as the word perpetuity is there I believe this how much would you allow me to make when I give you 250 000 I get it back I've made no money we talked about this a little bit earlier it's important for me does Lori have anything she wants to do Lori's not officially out it doesn't offer you'd give me how about two hundred and fifty thousand dollars guys hang on hang on I look I learned a long time ago there's no point in crashing a party that people don't want you in you obviously don't want to deal with me I'm out I would do the same offer as Kevin but I would want to get eight percent equity in the company two dollars and fifty cents a unit until we got I get my 250 000 back and then a dollar fifty until I get 750 000. no in perpetuity no equity that's the offer I made you so here's my question would you be willing to do 250 000 for just 20 equity with no royalty no I I really want to blow this up we want to go really quick and I really think I'm trying to be fair for you because I really like you guys and I believed in it let me ask you until you stood me up we haven't been on Shark Tank before never be back you put your offer back on table I'll take it right now no questions asked don't stand me up for a maybe we shake hands oh the fans go wild [Music] we walked into the tank wanting to work with Robert so when he went out it was heartbreaking and I was heartbroken but we're like we can bring him back in and when we got him back in it just my heart sang I mean it's everything that we wanted

Channel: Sony Pictures Television

Views: 476,375

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, Blake Mycoskie, Kevin, Lori, Daymond, mark shark tank, kevin shark tank, lori shark tank, daymond shark tank, mr wonderful

Id: IJpOvKFpdX8

Length: 9min 44sec (584 seconds)

Published: Sat Apr 08 2023