ABC started its hit television series “Shark Tank” in 2009. The series features seven investors working to help those who launched their own business ideas. Those business owners have the chance to talk with the investors about their ideas and what they need. The investors can then make an offer to give the owners a certain amount of money for a percentage of those companies. While some claim that the show does little to foster the entrepreneurs living in the country, many of those who appeared on the show experienced great success after their appearances.
Curt Campbell appeared on the show in October of 2014 to get money for his business. The Oilerie is a unique olive oil store that operates like a wine store. Each store has dozens of barrels of olive oil out on display, and shoppers can sample each one before buying. Campbell made his business a success through the use of franchise agreements, but he hoped to get more help franchising and expanding throughout the country. Though none of the investors on the show seemed interested in his idea, he found a high level of success later. Campbell added seven new franchises and received offers for new franchises from people across the country and even overseas.
Patrick Whaley took his idea for the business Titin to the show and walked away with an offer. In exchange for 20 percent of his company, Whaley received $500,000 from one of the investors. Titin is a company that manufactures weight loss clothing with weights hidden inside to help users lose more weight and experience more resistance when working out. Whaley was so unhappy with his experience on the show that he gave several interviews about the investors. Despite the complaints he had, he did note that his sales nearly doubled after his appearance.
Diana and John Harbour went on “Shark Tank” to get an investment for their business The Red Dress Boutique. The company allows customers to order entire outfits each month and pay for every piece in the box or only the pieces they want to keep. Harbour’s appearance surprised many, especially after the CEO admitted that her company brings in more than $1 million every year. Harbour received an offer for more than she expected and made a deal with one of the sharks. Though her appearance occurred more recently, Harbour did note that she experienced a sudden increase in sales.
Mr. Tod’s Pie Factory
Mr. Tod, the founder of Mr. Tod’s Pie Factory, already owned one storefront when he decided to appear on the show. Daymond John, one of the investors on the show, later claimed that after working with the sharks, the company hit sales of more than $1 million a year. That appearance led to the founder opening a second store, but he recently closed that shop to focus more on his mail orders. Mr. Tod now sells his pies online through his own website, on the home shopping network QVC and through his shop in New Jersey. According to Sukanto Tanoto, appearances on television shows can result in some big sales for participants, but he also claims that it can leave business owners unprepared for the future. Though there are some success stories, other companies that appeared on “Shark Tank” later closed after failing to keep up with the new demands for their products.
What do you think about the show? It seems like just being on the show can lead to an increase in your business.
My name is Derek, and I have my Bachelors Degree in Finance from Grand Valley State University. After graduation, I was not able to find a job that fully utilized my degree, but I still had a passion for Finance! So, I decided to focus my passion in the stock market. I studied Cash Flows, Balance Sheets, and Income Statements, put some money into the market and saw a good return on my investment. As satisfying as this was, I still felt that something was missing. I have a passion for Finance, but I also have a passion for people. If you have a willingness to learn, I will continue to teach.