Shark Tank US | Mark Cuban Calls Jax Sheets The Best Pitch Ever

[Music] first into the tank is bedding made for a specific consumer [Music] what's up sharks my name is Gwen I'm from Saint Paul Minnesota I'm here seeking 212 thousand dollars for 10 of my company Jack sheets Pop Quiz how often do you think single men on average wash your bed sheets once a week never yeah once a month never no on average single men only wash your bed sheets every three months it's so gross like the pillowcases like thousands and thousands of thousand times more dirty than a toilet seat that's why I had to make Jack sheets the first bed sheets for men nasty sweaty stinky men who like Mark in college would probably sleep on anything all right unique Bland a bamboo copper allows Jackson to stay fresher for longer so if you forget to wash your shoes for a year or two no one has to know but wait guys there's more today I only get a two for one special which includes my hurricane line of laundry free clothing you can travel camp and experience more while packing less so sharks who wants to put a beat down on some bacteria and get in bed with Jacks oh my God I love the name Jack sheets and you guys have samples there of um the Jack sheets um the beauty Edition that is silk and bamboo and copper so we used our jack cheese bamboo copper and we refused it with the silk this feels really good okay so is this a commercially available proper infused cloth from us yes we're currently going through a process to get a patent on our materials so when you what you're offering us today is really two companies yeah a sheet company and a t-shirt company I would underlying that they're both the same technology it's just that different applications are you saying it's the same material and it's not identical but it's the same like research same technology same power infusion yeah yeah yeah so the point is copper infused Fabrics that get rid of odor bacteria and keep it fresher longer yes so I went to Iceland um took a little vacation and what I learned was that my my polyester shirts and my concerts were again smelly at different rates and I got confused by that like why is one shirt so smelly already and the other one is still smelling pretty decent that can make it work for two or three days how'd that work out for you it it didn't work out too well I I started learning as much as I could about materials and I learned about bamboo I learned about copper I learned about silver and then I released a shirt and everyone loved it and then after that they said hey what about sheets the material the shirt's good let's do some sheets too I'm like I'm down why not let's do some sheets that's kind of how I got where you know what it's smart because it's a huge Market you're making a niche out of that market when are you selling these today yeah so these just came out on Kickstarter on November it sold 350 000 dollars those are your total sales for this one yes so you're on Kickstarter yeah and how much did you ask for I asked or um I think was ten thousand dollars and you got to 350 yeah wow that was sleeping through the beginning of this presentation because I thought you were going to say I hope you're resting I'm awake now I'm awake now because you have sales okay do you know what it costs you to acquire a customer yeah the customer considering calls I got a little sheet here just for you was 33 33 what's the average sale the average sells a hundred and forty eight dollars and what do you make on 140 what's your margin our margin is about like 70 so you spend 33 to get 70. yeah I mean that was before covet nice I mean it's it's been just now well I can suck I'm sold out when you sold everything in November December yeah of last year when did you actually ship it up four weeks ago it took forever to get them done have you sold any sheets other than through crowdsourcing no no because I didn't have the inventory and I was worried about making sure I can deliver before I can start picking up more responsibilities and the shirts did we touch on that yet why don't you burn those why why are you selling T-shirts you can't make any money doing that what are your sales for the shirts so I just released the shirts um co-parent which is underwear and so this year we've made 270 thousand dollars and how did you sell those on our website your ask is 212 000 for 10 correct yes why wasn't it 200 or 225 212. do you know the real answer that question yeah to me no it's because I couldn't say 200 without stuttering so I had to find a number that I could say without studying because once I stuttered and um the whole thing I'm gonna forget so that's kind of why that's a great answer you're an honest guy man I don't lie I'm sorry so who's running this company with you it's just me myself and my garage just hanging out you know with my lawn chair right that's my setup I've been there wow it's a good time my friends come over you're living the life I'm actually living it like even being here this is a great time when you pulled out the piece of paper and said your customer acquisition cost was 33 dollars how do you know that because you haven't sold anything outside of the kickstarter so um look at that amount of money I made and then how much costs and AD spend to get those costs like that was on the kickstarter deal Kickstarter is is almost like an unreal environment I want to know if we started today how much would it cost you to go get a customer okay okay but you realize that the underwear business is different than the t-shirt business but if you hear the things because when people come to me they're usually Campers or like what I just don't like I get it but you're telling me you're worth close to two million bucks okay so I have to try and figure out what is the business but this deal has no structure yet I don't care about the underwear and t-shirt business returns are horrific I agree you're right I would forget about that the sheet thing is intriguing okay doing sheets for men with copper infusion to stop them from rotting in their own beds I love that story we don't know yet the customer acquisition cost and so you can't say to me that you're worth close to two million dollars I don't buy it I mean I said it but I'm not it might not be true I don't know um the fact I'm here to me is great this is a great time I'm so happy to be here best pitch ever if it isn't true yeah what number you think is true well my gosh like 1.8 it's not that's a that's a fair number when you're incredible look you are this business and this business is you is my baby right your baby right we were just corrupt it you're doing it exactly the way you wanted to every now and then somebody just hits it right and gets a business that fits them perfectly I don't want to kill your Vibe I'm out let me tell you where I'm at yes uh couldn't love you more you know we see people that want something from us all the time those people are honest and they're sincere but sometimes they're not and when somebody comes out that's pure and honest and full of joy that's why we get so excited yeah you are purity what you're not though is an investable business today Kickstarter is not a business you got to go out and actually get customers yes you got to go out and build the business I can't invest in it I know I appreciate that I'm gonna send one I only like to deal with entrepreneurs that are honest and real and upfront and you are that whole package and I see Merit to what you have um it's almost like having a really fantastic cell phone without service I feel like you have the premise of a really good idea but I'm not sure about the business so I'm out so here's what I think um you're in three different categories and they're totally different and you're going to need to learn each one of those businesses so that's that's a little concerning but you can make those decisions when you don't have a partner right you can you can sit there and say I'm gonna do this because I'm gonna test myself I'm gonna do this because I'm making money you can do that but in the in the event things don't go well you're going to have Partners saying why are you outside hanging out with your friends I mean that's what people are going to say when you have money at risk and you want to keep your Liberty right now where you're at okay and for that reason I'm out when covet hit I told every one of my CEOs verify your customer acquisition costs direct I got lots of chickens in the coop right now squawking for cash because everybody's doing the digital pivot and that's the one thing I need to know do you understand your customer acquisition costs if you do Daddy has cash I want to return on it but you don't have that answer and so I'm sorry but I'm out you don't have what I need you you you're almost the kind of guy I'd love to see back here with them absolutely because you're such a nice guy oh man good luck to you now you have a goal uh well guys you know like I said I I do appreciate this and no matter what happened thank you guys for having me here honestly to you you're welcome amazing one of the best ever this is today winning a losses I mean every day is a win so whatever happens my name is Wen All I Do Is Win so like there's nothing else I can tell you honestly it's a win every day of my life

Channel: Sony Pictures Television

Views: 2,499,778

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

Id: zHP7kntYtAY

Length: 10min 3sec (603 seconds)

Published: Mon Nov 21 2022