Shark Tank recap: Boozy painting
Originally published on The Comeback.
Shark Tank recap: Boozy painting, futuristic notebooks, pheromone hair care, bridal pee help
Show us your... well, there's a lot to show in the Tank!
The Shiver: For a WILD Season 8 finale, we’ve got a typical blend of Sharks: Dallas Mavericks owner and tech-sector maverick Mark Cuban in his usual stage-right chair, real estate impresariess Barbara Corcoran, venture capital mogul Kevin “Mister Wonderful” O’Leary, QVC Queen Lori Greiner and infosec entrepreneur Robert Herjavec.
The Bait: Tipsy painting, magic drawing, sexy shampooing and bridal peeing. Yeah, no, really.
Company: Patrick & Harriet Mills, “Wine & Design”
Seeking: $500,000 for a 10 percent stake
My first reaction to Wine & Design is: I’ve seen this before. As the entrepreneurs admit, a wine-encouraged art studio where regular folks can go to get a little creative and a little tipsy are all over everywhere.
But Wine & Design has staked out a big hunk of this market for themselves — and they’ve shipped in a big hunk of man for their pitch:
As the boa-wrapped Sharks follow their instructor in doing a little life painting, they’re having lots of fun. But can they make lots of money? Oh yeah: The Millses claim they’re the No. 3 chain in the country, with 41 franchisees, some of whom have multiple locations.
They project a whopping $12-13 million in gross revenue, with several hundred thousand of that in profit:
“It’s a dream business,” Mister Wonderful says, and Mister Wonderful doesn’t say that often. But if everything’s going swimmingly, why are they here? Lori figures it out:
Their time of explosive growth has already happened. Now they need a cash injection to start fighting the long grind against the top two chains — starting the 20-year project to become the Subway that eventually topples McDonald’s and Burger King.
Lori is not here for that. She’s out.
Mister Wonderful puts a very Mister Wonderful offer on the table: $150,000 in cash, plus a $350,000 line of credit (at 12 percent interest) in return for a 10 percent stake in the company. Robert takes a shot at the structure of the deal, and Kevin invites him to do better. Robert says he will, and we have a DRAMATIC COMMERCIAL BREAK.
LOL some followed the directions better than others ;) #SharkTank
When we come back, Robert’s explaining that he understands how hard it is for entrepreneurs to try and pull income out of a successful business. His offer is very straightforward: $500,000 for a 33.3 percent stake. They get a half-million cash to enjoy forever, and an equal partner for the business.
Sounds perfect, right? Apparently not.
Swim or chum? Apparently because of Kevin’s existing O’Leary Wines business, they SWIM with Mister Wonderful. I think that partnership adds more value for him than it does for them, though…
Should you buy? There’s a competitor near me and if you’re not going for their bachelorette-party package, I’m not sure what, if any, differentiation there is. But if this sounds like a good time for you and your friends, sure, SHOULD BUY.