Shark Tank US | Daymond Can't Make His Mind Up During Driftline's Pitch

next up is a product to make water sports more comfortable [Music] hey sharks my name is Wes and I'm Greg we paddled up the coast of California to see if you want to take a bite out of our company driftline we're here today seeking a hundred thousand dollars for 10 equity in our company dripline is a revolutionary water sports apparel brand based out of San Diego we're here to solve a big problem see a couple of years ago during a dawn patrol surf session it was that transitional time of year where the water was just too warm for a full wetsuit and too cold for your traditional board shorts a netliner do people even still wear these things they're insanely uncomfortable and don't provide any warmth of protection there has to be a better way and that's why we created drifties drifties are the premier two-in-one board short with a patent-pending wetsuit liner connected to a stylish outer shell offering Comfort warmth and shape protection specifically designed for water sports and we've all seen that guy at the beach doing the classic waddle toward the excruciating pain of chafing but with drifty's cloud-like wetsuit liner we solve that problem while keeping you warm and supported drifties have been tested by almost every watersport athlete out there they've also been tested in the most extreme conditions all over the globe and remember you never want to swim with sharks without your drifties good job guys so each of you has a pair of drifties in front of you it feels like a neoprene is it a neoprene that's what it is neoprene is a rubber foam that basically stores heat and prevents that initial cold shock that you see guys get when they first step in the water so basically it's a wetsuit married to board shorts correct we combine the two hadn't really been done before actually yeah we actually have applied for our Utility Patent on it and hopefully in the next couple of months it's really smart to me I mean I will tell you it's really great quality tell us about your sales currently year to date we're actually at about 125 000 in sales last year we did about a hundred thousand in sales and we're projected on Pace to do about 200 this year how are you selling these directions consumer do you put them into specialty stores so right now we're actually 99 throughout the consumer are you spending a lot of money to get people to your site actually not really this past year we only really spent about ten thousand dollars in marketing what does it cost sorry you never told us yeah so those retail for 89 it costs 25 to make 33 landed I'm surprised I mean that's not bad at all this is complicated yeah well that's why we went through so many different manufacturers and iterations to get the real material and product we need and is your history in manufacturing no actually I had a sales marketing background I actually was taking night classes for graphic design which is my full time now and that's kind of what spawned the idea when we had that legitimate light bulb moment on the beach I needed a project for school and I was like well let's just you know see if I can brand this that's great and by the end we actually had a business and you did it what's your background um so I'm actually a financial background and now I'm more in Tech and Marketing sales it is a fantastic idea what I'm struggling with is can you sell enough just shorts to make a sustainable business that's part of where we have this patent that we're hopefully going to get next couple months here but really what we're building is not just for surfing we're also expanding into water sports that need specific iterations on the actual product specifically for that sport give me an example of that for instance kayaking is different from surfing and you can add additional lengths to neoprene and things like that so you can iterate Under the Umbrella of the patent specifically for different water sports how much money will you guys make this year we're pretty much break even at this point because we're putting everything back into r d and honestly right now we have that funnel of people that want to buy our product we just need to place bigger purchase orders to drive down the cost and increase the margins do you have the orders or do you think you'll get orders if you drive down the cost so we've already sold out of skus and styles for this upcoming season and the problem is now people want them so you cannot keep up with the orders at the moment no it's very good Innovation you know I look at million valuation I don't think that's that crazy but I just don't know how big this Market is that's the only reason I'm out I just don't feel the the scaling of it this is not for me I'm out this is a really phenomenal job you've done in the creativity putting the two things together but you know I like to hit like a broad Mass audience love it love you but because it's niche came out I'm not sure about the expansion like you were saying how easy that's going to be but I do believe that if you're in that world you buy a pair you're never going to go back to a regular right board short again right but there's two other sharks here that are in the space Marquis had rock star numbers with the Paddleboard Company and Robert you have ham boards I think you need sales out of San Diego you need a collaboration with somebody who can bring you other people's members and other people's marketing collectively you don't compete you compliment each other so I don't think I can add any value here I'm out hey guys congrats on what you've accomplished it's super smart my problem is I don't know if it can be big enough you know you can be a two three million dollar company but it's really not a fit for me so for those Reasons I'm out yeah you know I'm definitely in this space but it's got to be enough yeah that it's worth my time we know this space well we can really help you with all that like I just can't do it for ten percent what can you do it for Robert I'll actually give you a little more money there's a term I love which is accelerate to fail meaning I think you got to go faster to find that breaking point in the business yeah let's not do this for 10 years let's accelerate I sense an offer coming that's going to be very painful I'll give you a hundred and fifty thousand but I want one-third ouch I'm chafing I'm chafing whoa we very much appreciate that would you bump that down to 15 no okay yeah um there is only one shark that's in because I think I understand the complexity of how hard this is if you get the patent if we get the patent we're gonna need more than 150 000. it's it's a whole nother skill like at this point though a little more money let's go faster um well Greg and I you know Wes I can't read lips you don't have to cover your mask um I mean we we definitely you know love the the work that you've done the space I mean would you do something down to 20 I mean could we get you to that number no no I I just I know how much work it is I mean the I think the the highest we could probably go is 25 percent [Music] Robert that's reasonable it is reasonable I'm offering you more money let's not forget that and you know honestly if I'm worth it 33 and that that's what I felt comfortable with that's my gut feel I'll give you a hundred thousand for twenty percent wow but you got to take it right now say yes I think the highest we can go for that is 15 yeah guys I mean think about what's on the table right now I offered you a hundred thousand for twenty percent you only had five percent flexibility and you said you needed us I mean I guess you're indecisive so I'm out again what are you gonna do Robert I think if you're comfortable at 25 you're comfortable at 28 I'll come down from 33 to 28. foreign I mean we came here kind of with numbers in mind so unfortunately we're gonna have to pass out that number you gotta do what you gotta do thank you though thank you so much thank you so much sharks good luck guys thank you guys way to stick to your guns we just weren't willing to give up a third of what we've worked so hard at but at the end of the day we didn't feel like his heart was in it and that's what we're in it for so you know for that reason we were out

Channel: Sony Pictures Television

Views: 838,695

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: et9jM8fezNw

Length: 8min 37sec (517 seconds)

Published: Mon Sep 26 2022