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Article originally featured on Shark Tank Blog:
Patrick and Harriet Mills want to try the art of the deal on the Sharks when they pitch Wine and Design in Shark Tank Episode 826. They are in the business of franchising their art classes for grown-ups where wine is allowed. Harriet created the franchise concept after taking an art class with her friend, Emmy Preiss.
The two women ran the flagship Wine and Design shop Raleigh, NC for two years before launching the franchise concept. The company is the leader in this business model nationwide with 76 franchisees (and more coming). Their home state of North Carolina boasts 25 franchises. The studios offer fun nights out, birthday parties, team building events and more.
The cost to start a franchise, including the $25,000 franchising fee, ranges from $50,000 to $100,000. Some states require a license for BYOB establishments which can add to the cost and time it takes to open a franchise. Their franchise wide revenue is growing more than 35% annually ad they want to have 100 franchisees by the end of 2017.
They likely want a Shark to help them fuel demand and growth. Will a Shark design a deal with the Mills'?
Wine and Design Shark Tank Recap
Patrick and Harriet will pitch the panel of five Sharks on the business and its prospects for growth. They’ll need to convince Mark Cuban, Barbara Corcoran, Kevin O’Leary, Lori Grenier, and Robert Herjavec that the company is worthy of a Shark investment. A good business plan, good financials, and sales data will impress the Sharks, but they’ll need to show them THEY are capable of running the company to “Shark standards.” A full pitch re-cap on Wine and Design will be available on Shark Tank Blog once this episode airs.
Wine and Design Shark Tank Update
The Shark Tank Blog constantly provides updates and follow-ups about entrepreneurs who have appeared on the Shark Tank TV show. Once an episode has aired, we monitor the progress of the businesses featured, whether they receive funding or not and report on their progress. The Shark Tank Blog will follow-up on Wine and Design & Patrick and Harriet Mills as more details become available.
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