Shark Tank On The View
On their Shark Tank episode, the ladies of The View welcomed Mark Cuban, Lori Grenier, and Daymond John from the reality show to be their guests. Earlier, they showcased products such as Lollacups and the Scrub Daddy. Next, it was time to have the chance to invest in new ideas from The View audience, like Uncle Louie G and a Cool Straws review.
The View: Uncle Louie G Review
The first viewer pitching for the sharks was Dino Russo, a Staten Island entrepreneur who wants to expand his Italian ice and homemade ice cream franchise. He gave samples to the sharks and the co-hosts.
Dino explained that he had $2 million in sales in 2012, and there is a 20% markup. He is ready to move the product into new markets, such as stadiums. The profit in 2012 was $500,000.
The stores are operated by license agreements, but there are no franchise fees. Uncle Louie G is hoping to use an investment by the sharks to move into a prepackaged business at amusement parks and other retail outlets.
The View: Dino Russo Italian Ice
Mark Cuban wondered why Dino didn’t just invest his own profits back into the business, but he said he was hoping the sharks could help him open doors. Dino said that he has trouble getting into arenas, for example.
His offer was $375,000 for 15% of his business. The products are kosher, and he operates about eight months out of the year. The sugar free version has 80 calories. The recipes are made using real fruit.
Cuban said that he felt it didn’t make sense for him to invest, because he thought Dino could do things on his own. Daymond John said that it wouldn’t be that valuable for a shark to make calls and connections on behalf of this brand.
This time, there was no deal from any of the sharks.
The View: Cool Straws Review & Cool Cap Review
Registered nurse Cindy Slansky , the inventor of Green Paxx, was up next. She wanted a $50,000 investment for 10% equity. When she found herself as a mother of four young kids, she switched them to a diet of organic vegetables.
They made a lot of green smoothies, and she created Cool Straws so she would stop wasting money on disposable straws. They are wider than most straws, which makes them good for protein shakes. They are non-toxic and easy to clean.
Cindy also started running as a hobby, and after taking her drinks with her everywhere, she got the idea for a universal beverage cap, the Cool Cap. It keeps drinks carbonated longer, slows oxidation of juices, and is made of heat-resistant silicone.
The View: Green Paxx Review
In 2012, Cindy did a soft launch, eventually rolling out to Amazon. She ended up making $26,000 in the second half of the year. She was displaced for two weeks during Hurricane Sandy. But in early 2013, she has done $13,000 already, which is projected to $100,000 for the year.
“Once people saw the product, they loved it,” Cindy said. She has not done much marketing, but word of mouth and popularity through Amazon. The caps sell in a two-pack for $10.95. She needs an investment to manufacture additional stock and roll out new products.
The View: Shark Tank Investors
The sharks were concerned about the company’s high valuation. Cuban said that she is obviously smart and successful, so that is not in question. Cindy hoped that an investment would boost her marketing.
Cindy is working on getting her products into Bed Bath and Beyond. Daymond said the valuation was too high, so he was out as an investor. Lori loved the product, but felt rushed about investing. Cuban was also out, because the green market is too competitive.
Would you have invested in either of these products?