Shark Tank US | Hilarious Prank-O Pitch Has The Sharks In Stitches!

[Music] [Applause] next into the tank is a company designed to bring fun to every gifting [Music] occasion hi sharks I'm Ryan and I'm Eric and we're Eric we're from Minneapolis St Paul Minnesota and today we're seeking $75,000 in exchange for 15% of our business sharks we live in a busy world as a freelance photographer I'm always on the go one day my little boy looked at me he said Dad how come you're never home for dinner and it just broke my heart it was at that moment I vowed never to miss a meal with him again and that's why we invented the snack hat the perfect solution for balancing work and family no snack hat is a patent pending neoprene cap that easily slides onto most heads it comes complete it comes complete with a stylish multi compartment plate fits both dishwasher safe and wait for it magnetic with snack hat you can work more while still spending time with your kids snack hat sharks we know how you don't like companies that just have one product so rest assured we're a business that has a whole line of innovative solutions like bathing Brew shorten your morning routine by brewing coffee in your shower and our bestselling pets double up playing with your P while doing chores you see we solve problems for everyone even sharks here a few more of our products I love the pet sweet our gifts to you all presents Mr thank you thank you thank you I don't think we've ever had a present got to unwrap go on unwrap them okay I got cool [Music] stuff oh my God oh God I got a baby feed her for the virtual reality headset for a cat I got the Roto wipe oh God Barb what's yours I've got a always time that one eliminates your need for toilet paper saves a lot of dough saves a lot of sharks our actual company is pranco we still prank gift boxes we put a new Twist on gift giving and add life to any part all right is there actually something in no that's the whole point that's the whole point they sell the boxes that's brilliant well how disappointing simply buy any of our prank boxes you hide your real gift inside and you sit back and watch as the fun unfolds so who wants to help us prank the world and invest $640,000 for 8% of prank oh that ruins it you got it wait you changed it but didn't you say 75,000 for 15 that was a prank in the it's the prank it was a prank this is an entertainment vessel you put their real gift inside I got it this a like your reactions since 2013 we've sold $10 million of empty Buck well now you have our respect how much will you do this year in business this year it's uh $2.8 million let's walk through the business model how do I find out about pranco how do you sell me the product do you have retail distribution or is it direct we do uh we have mass retail we're in Mass retail as well as uh on e-commerce what do you sell them to retail for what is it cost you make them what are your Mar so we make them for 66 cents yeah online they sell for $8 one Bo or a box one Bo wow what did you guys do before this what takes you to this place so I was uh one of the uh early partners of the onion and ma'am oh really we were just a little what is it yeah satirical news paper I did that for 20 years and um we had this box in our Ecom store that was flying off the shelves and it was some designer guy outside designer guy that had it so it was you I met Eric couple years later and a few happy hours later we uh started pranko what's your background I'm 20 years I've been a self-employed graphic designer and this hit me way back when watching my nephew open a toaster oven it appeared to be a toaster his parents put the real video game inside and it was just this great moment at at at Christmas brilliant that everybody loved it's brilliant within a week I started started my first prototype and you do it three weeks out of the year so what do you do the rest of the year well that's what we want to talk about yes we want to there's there's 541 million gifting occasions birthdays anniversaries uh graduation Father's Day Mother's Day and what we want to do is Market to those people so a couple questions so last Christmas your last shipping season what did you do in total revenue and what was your net profit okay so that's where I need to uh clarify some things we started this in 2013 2016 and 17 we uh uh we got distracted we had other seasonal uh opportunities novelty gifts had to deal with Asia and uh molds and uh set like that magnet head dish yes you try to create physical products and expand your business on e-commerce cuz we have traffic we're funny y right yeah bottom line is we made mistakes we lost Focus lesson learned okay well but what's your debt a million dollars longterm how much cash do you have in the bank uh right now it's a tightest time of the year we're working off the line of credit how much have you pulled on your line of credit as of right now uh $3 million [Music] no let me just share with you my thought I think very funny clever idea and all of that but I like things that sustain and are sold more throughout the year so for those Reasons I'm [Music] up uh structurally the business is not investable so I'm out thank you the way I see your business is you have a million dollars in debt you have zero money in the bank you have no profit you have skinny margins and your valueing your business I can't do the math but it looks like around $7 million I don't get it I love to see numbers I could get my teeth into I'm sorry but I'm not your problem is you're trying to do too much the refocus is on prankl that's what I'm saying what are you doing mark look I'll make you an offer okay right but you're going to have to listen okay you got a great product you've got a great comedy minds but your track record speaks for itself and and I don't mean they disrespect but all entrepreneurs go through this that's that's fair I I made a mistake we all learn right so I'll offer you the 640k okay but I need 25% of your business three sharks are out Ryan and Eric came in seeking $640,000 for 8% of their prank gift box company pranco Mark is interested but he wants more than three times the equity they initially offered I'll offer you the 640k okay but I need 25% of your business okay interesting offer let me give it to you a different way I'm in this space in a big way love Pop cards pot parcel Wicked Good Cupcakes I live this in and out about rotating skews the seasonality of gifting there's two things I can do for you I can smooth out the seasonality a little bit but the real added value is to get your website so it becomes 10 11 12 13 14% of your business direct at 8 bucks a pop that I do because I have millions of names that already go through my gift cycle on three different companies all right I'm going to give you the 640,000 I want 38 cents royalty on every unit that's it no equity get $640,000 and you get my team and we'll fix this business for you okay guys the only sales pitch I add for myself is we test it with the Mavs you know we I can spend a bucka pop right to go out there and do custom and we come up with something fun the Dirk nitzki shot guide or what whatever it is it's up for you to you guys let Mark do the writing that wasn't very funny that's not enough I I need you to sell just to get my money back I got to I got to bump this business up big time yeah but Mark is the buyer as well yeah I'm the buyer right and so if it works for me works for me it's going to work for every sport every University we can go get licenses we can get NBA licenses would you go 15% no no 20% with a line of credit it's got to be 25% because it's going to take a lot of work and it's going to take a lot of guidance I uh there's no equity Mr Wonderful it doesn't make sense it doesn't make makes sense you know and then you want you you would you would ask for 38 cents per unit I have to sell a million I have to sell a million seven of these get my money back indefinitely is that indefinitely it's a partnership with three guys that's what this is what I try and do is expand the direct the customer sales without a middleman in the middle as we do at lovep we cover that direct sale because we capture the name and we sell those people 25% again on every season that's the key to your business no it's not I'll tell you the key to your business besides simplifying this going to e-commerce retailers and having them offer this as an option an upsell option put it in a you know you buy this you're not capturing any value in your own name on a seasonal business where there's a birthday involved or there's a gifting period like Easter or Christmas you need the name because 25% of those people buy Again full Mar list yes that's how you say you can't afford his 38 cents sure could you could you would you would you consider 20% no [Music] no we've got to learn from our mistakes in the past and thin margins killed us so um I respectfully uh decline your deal Mr cubin let's go sell some R wipes congratulations I love the onion by the way a great publication appreciate it man congratulations a appreciate it all right guys Good Luck Good Luck thank you we know how to make people laugh and uh Mark understands obviously business and how to scale businesses so with uh our ability to create comedy and Mark's ability to grow business it's going to be a great partnership we got a deal we got it

Channel: Sony Pictures Television

Views: 324,025

Keywords: 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, shark tank moments, shark tank deals, shark tank pitch, shark tank best pitch, kevin oleary, mark cuban, lori greiner, Barbara Corcoran

Id: -hrbP_slqRI

Length: 11min 3sec (663 seconds)

Published: Sun May 26 2024