13x21 - Episode 21

[bunniefuu]

Narrator:
Tonight on "Shark t*nk"...

Sharks! Sharks!

Sharks! Sharks!

What is up?!

Who's ready to take the plunge?

[ Screams ]

Don't be a wimp.

You better be selling
a lot of them.

$4.9 million in sales.

- Wow.
- Wow.

I'll give you $5 million.

- Whoa!
- Whoa!

It's a loan-shark deal.

You're the walking,
talking billboard

of how to do it right.

But wait, there's more.

- Oh, there's more.
- Boom!

♪♪

Narrator: First in the t*nk
is a convenient version

of a popular cuisine.

♪♪

♪♪

Sharks! Sharks!

We are pumped to be here.

My name is Dok.
My name's Junghun.

And we're from...

[ Laughter ]

Cupbop! ...Cupbop!

Junghun, what is Cupbop?

Cupbop?

C...

[ Laughter ]
U...

P...

B... O... P!

Cupbop!
Cupbop! Cupbop!

Cupbop is Korean barbecue
in a cup.

We are super energetic...

little bit crazy...

quick-service Korean
barbecue brand.

Did you know that there's
only one Asian concept

in the top 50
quick-service restaurants?

Hm. There's room for more,

and we are next!

K-pop, K-drama,
K-movies taking over.

It's time for...

K-food! K-food!

To take over the world!

We have an offer for...


for $1 million.

- What?!
- Hello!

Wow! That's a lot of barbecue.

- What?!
- Wow.

Sharks, we'll keep
making the Cupbops,

you keep swimming in cash.

Swim, swim.

[ Laughter ] Swim.

Hey, Sharks!

We have a Cupbop
for each of you guys.

Now...

Shh! Shh!

Just eat! Just eat!

O'Leary: Oh, fantastic. Wow.

Greiner: Oh, my God.

What a presentation.

All right. What's
in here? Fantastic.

Tell us what's in
it before we go in.

Oh, spicy.

It's 100% sweet potato noodle

on the side, a cold chop chip.

And we have a
bulgogi. It's beef.

And hot spicy pork on the side.

It's hot. Greiner: So
beef and pork mixed?

- It's hot.
- Yeah, it's hot.

Whoa.

It's hot. It is great!

[ Laughs ] Thank you.

- And, Barbara?
- It's yummy.

Kwon: It's not a
ketchup. It's a spicy food.

- That's right.
- Yummy.

Are you okay, Mark?
Are you crying?

You all right? No, I'm good.

So we have a spice
level from 1 to 10,

and our customers
can choose that.

O'Leary: We've had a lot
of different food concepts

on "Shark t*nk." I
have to give it to you.

This is one of the
best I've ever tried.

Whoa! Thank you! Yeah!

That's big coming from Kevin.

Guys, what's the cost of this?

Kwon: It ranges anywhere
from about $8 to $10 per bowl.

Greiner: And what
does it cost you?

$1.80 to $2.50.

So our gross
margin is about 75%.

And you gave us an
astronomical number here.

You said 3%. You
wanted a million dollars.

Yeah. Your sales must
be through the roof.

Let's hear it.

Our trailing 12 months,
system-wide sales

is $18.7 million.

- Oh, there you go.
- Whoa!

- Whoa!
- Wow.

Wow!

Are you kidding?
How many trucks?

So we actually... We
started from a food truck.

Now the trucks are more
of a marketing tool for us.

Brick and mortar stores,
we right now have 27 stores.

How many years have
you been in business?

About eight years.

Herjavec: Congratulations.
Tell us the sales trajectory.

I want to know how
you got to $18 million.

Going back the last kind of


$8 million, $9 million.

So we were growing
about a million each.

And last year, we did
right around $10.5 million.

And this year, we're
expected to grow 90% this year.

And during a COVID
year, when people were not

going out to restaurants.

So how did you do that? Yeah.

So we shut our dining
down like everybody else.

Did only takeout.

And delivery. And delivery.

And our same store sales,
we were up 9% during COVID.

Wow. So that worked better

for you, actually? Yeah.

Herjavec: Dok, what's
your background?

Yeah, so previous to
this, I was an investor

at a major hedge fund.

Actually, he was
my first customer.

When I owned the food truck
in Salt Lake City, downtown.

Wow. He came to me,

"Hey, we love Korean!

Hey, we love Korean!" Yeah.

So I'm Korean, and just
fell in love with the product.

I went, moved to New York,

did my kind of seven,
eight years there,

and I just wanted
something different.

Did you go and pitch
him on being his partner?

He called me. That's right.

I called him up.

But he said, "If you
not hire me right now,

you're gonna regret
it for the future."

Who owns the business,
and what percentage?

So we own half of the business.

Oh, so you've raised
a lot of money then?

No, we've actually

never raised money.
With all that growth?

Who owns the other half?
Who owns the other half?

The other half, his co-founders.

Oh, okay. And a group came in

and just bought equity off
of the other three partners.

What did they
pay for that equity?

What valuation?

Undisclosed. We don't know.

You don't know? They
haven't told us. Yeah.

So your ex-partners
are just gone basically.

They took the
money and ran. Yes.

So we've actually...
So we've been growing

through organic cash flow.

We've never raised
money, actually.

Good for you. But during COVID,

you pivoted, right? Yeah.

Instead of having
people go to the stores,

you said you were doing
delivery business. Mm-hmm.

You k*lled it last year.
Why do you need a store?

The reason why... it's
not only about the food.

We want to give you a
really good experience

with our customer.

We high-five all the time.

We're hugging. We're
dancing together.

Korean people is a party
people. They're having fun.

They know how to play.

Cuban: You said you
hadn't raised any money.

Yeah. Why didn't you bring in

any investors
before you got here?

We got so many
investors came to us.

But I say no for eight years,

because I think I can make


I want to be the first
Korean national brand

with the Sharks.

When I came here a
long time ago from Korea,

I'm not good student in Korea.

I got F-grades all my life.

They call me, I'm the
failure. I'm the loser.

But when I came
to the United States,

I found opportunity here.

If I work hard here, I can
make a dream come here.

This is a big thing for
me, not because of money.

I want to get the
opportunity to tell them,

"Hey, first Korean
national brand here."

So, Junghun, we
heard all about you.

Fabulous story. I love it.

But, Dok, I want to
hear a little bit about you.

Kwon: Yeah. I was born in Korea.

And when I was 11, my family
came on a summer vacation

in the U. S., and the day before
we were supposed to fly back,

my mom and dad sat me down
and my older brother and said,

"Oh, by the way,
we didn't tell you,

but you guys are not
coming back with us."

Oh! What?

Corcoran: Wow. So they
had planned this all along.

So they found a
family, a school,

and they thought
that if they told us,

we wouldn't want to come,

and so they did it the hard way.

The next day, bam.

My God. Wow.

And they chose Utah
because they just heard

that Utah was a religious state,

that a lot of people
don't smoke and drink.

They thought, "Oh,
that's got to be safe."

[ Laughter ] "We're
sending them to Utah."

Dok, I mean, that
story is incredible.

Why do you think
your parents did that?

Why did they drop
you off in America?

It was really for
the opportunity.

Absolute best decision
that they've ever made for us.

And I am just forever grateful

for what they've
been, you know...

It's amazing how the
people who grew up here

don't feel the same way.

Think about what
your parents sacrificed

for the American dream. Yeah.

I now only can I really start
understanding my parents

a little bit now that
I have my own kids

and the love that
I have for them.

He got two kids.
I got five kids.

- Wow!
- Oh!

How do you work?

Maybe that's why
you work so hard.

But my wife supports me 100%.

I love this story.

Like you guys, my dad gave
up everything to come here.

I had to freakin' be successful
to justify that sacrifice.

Yeah. And you guys are

on to something here.

Purpose comes through everything

except $1 million for 3%.

[ Laughs ]

I don't know what
the purpose of that is.

What is it, a $30
million valuation?

Yep. $33 million.

How do I... How do I
How do I get there?

Yeah, it's really
the growth rate.

It took us seven years
to get to $10 million.

We have 10 more stores
coming before the end of the year.

O'Leary: I like the deal.

I like the mission.
I like the energy.

I love the food, and I like
the cash flow a lot, okay?

I'm gonna make you an offer.

♪♪

Narrator: All
Sharks are still in,

and Kevin has an offer to
make for Junghun and Dok's

quick-serve Korean
barbecue business, Cupbop.

O'Leary: So here's the deal.

I'm gonna loan you
the million dollars,

and I'm gonna put a


It's 36 months
amortization, 3 years.

And I'm going to take
the 3% as a warrant.

So I get equity. I get 3%.

I put all I can bring
to it as Chef Wonderful

and all the rest of that stuff.

And you have a Shark t*nk deal.

Guys, can I get your
attention a moment?

I'm very familiar with
this space because I have

a hugely successful business,
Cousins Maine Lobster,

and they have over
$200 million in sales.

But I also have
to tell you the idea

that you were dumb
in school like I was,

it's interesting to me, after


every one of my top-10
business owners/founders

were terrible in school.

Isn't that interesting?

It's interesting.
That is a great point.

And yet, when they
get into the workplace,

boy, oh boy, are they smart.

So I believe in you,

but it's too rich.

I have to have


[ Chuckles ]

All right, laugh at
it if you want, okay?

But my sharp thinking on how
I remodel all my businesses

have made them much more
money than that all along the way.

You have two offers.
Are there any other offers?

Herjavec: The
product is fantastic.

I think the business is
worth about $18 million today.

You're asking for $33 million.

I want to own a bigger piece,

but that's just simply
a function of money.

You're asking for
a million for 3%.

I'll give you $5
million for 28%.

Oh! Greiner: Wow.

Which is an $18
million valuation. Wow.

I mean, that's what I think
the business is worth today.

Listen, I love your
model, and I just want

to take the journey with you.

I would give you a
million dollars as a loan.

As a loan. 8%
interest, 5% equity.

Hey, guys, if it's just the
cash you're looking for,

I would give you a
million dollar loan for 5%.

No problem. I'll do it for 3%,

and I'll work on the
finances. I would do it for 5%.

And you know what?
I do it with Barbara

if Barbara wants
to do it with me.

I would love to do it.

I haven't done a deal
with you in a dog's age.

That's right. We haven't.

So Lori and I will give you 5%

for a million dollar
loan, we'll go in together.

Okay, so...

[ Whispering indistinctly ]

Mark, what are you doing?

Cuban: First, I love the
business. I love the product.

I love the fact that you can
make it a healthy alternative.

But what I'm hearing,
and tell me if I'm wrong,

you've got the
operations down, right?

But you need someone to
propel you in terms of marketing...

That's exactly right... and PR

and just to be able to
have a national presence.

So when people talk about
Cupbop, then people say,

"Yeah, I know it," and
I think I can provide

that better than anybody
because I do have

that national platform and I
can get word out there better.

We all have that national
platform. But at the same time...

No, it's not quite the same.

Herjavec: Mark,
what's your offer?

So it's not quite same.

It is quite the same.

What I would do
is a million dollars

just straight equity.

I'd like 7%.

And my commitment
is, though, I can help you

just scale this thing in
terms of visibility and PR.

My portfolio is full of all
kinds of healthy alternatives.

So that's my offer
$1 million for 7%.

Let me tell you what's
wrong with Mark's plan.

[ Laughs ] His appreciation
of your business is lovely,

but it's wrong.

This is not a
healthy alternative.

This is a delicious alternative.

Yeah. This is not
a healthy brand.

This is a fun brand.

No, and I'm not saying you
turn it into a health store at all.

Right, what I'm saying is, you
can expand your customer base.

Greiner: No, but
Barbara is right.

And he said he can
create the publicity.

We all can create the publicity.

Not at the same level. He
could throw in basketball, too.

Yes, it is. What
are you going to do?

♪♪

Mark, would you be able to do

$1 million straight
equity for 4.5%?

I'd go 5.5%, is my
lowest. I'm not cheap.

I'm worth it, guys.

[ Whispering indistinctly ]



With the other partners, we
kind of set the parameters.

So I just don't know
what's gonna happen

if we... That's honestly...

All right, I'll do 5%.

Yes!

[ Greiner chuckles ] Yes!

Only because of
those other partners.

Oh! Ah!

[ Laughter ]

Ahh! Ahh!

Thank you guys so much.

Corcoran: Thank you.
Greiner: Thank you.

Good luck, guys.

Thank you.

Do the dance
again. Do the dance.

Oh!

He moves. [ Laughs ]

Kwon: America is truly
the land of opportunity.

Song: Yes, I 100%
agree with that.

It's a huge milestone for us,

and so I could honestly
not be happier right now.

We can go to the
moon, right? That's right.

Let's go to the moon!

That's right!

♪♪

Narrator: In Season 12,
Michelle and Jake Sendowski

made a deal with Lori Greiner

for their food storage
trays Souper Cubes.

I am going to offer
you my golden ticket.

Okay. I only do it
once this season.

Narrator: Let's see
what they're up to now.

In the first 24 hours after
airing on "Shark t*nk",

we did $938,000 in sales,

and we only stopped
because we sold out of product.

With over 900,000
Souper Cubes trays sold,

we've done $8.6 million
in sales since "Shark t*nk"

and over $14 million
in lifetime sales.

We've expanded our distribution
outside the United States,

including Canada and
Mexico, Europe, Australia,

and the Middle East.

Michelle: In the United States,
we're in more than 150 Dillard's

and nationwide rollout
to all Crate & Barrel,

and we're gonna be in 830
Bed Bath & Beyond stores.

Yeah!

Wow. Whoa. Wow.

Michelle: That's
amazing! This is huge!

Greiner: It is a really
big deal to get into a store

like Bed Bath &
Beyond nationwide.

That is every person's
dream that has a product.

And we've done it.

I couldn't have better partners.

Michelle: Thank you, Lori.
There couldn't be a better product.

That's why you got my
golden ticket. [ Laughs ]

This partnership
with Michelle and Jake

really means a lot to me because
they're wonderful entrepreneurs.

Working with them
is such a pleasure.

They've enriched my life as
much as I've enriched theirs.

I'm so happy to help make
your dreams come true.

Michelle: Thank you. I
mean it. Love you, guys.

We love you.

[ Dog barking ]

Jake: Our advice to other
entrepreneurs would be,

of course, to believe in
yourself and your idea,

but also be open to learning

from your mistakes
and from others.

Michelle: Still really hard
to believe that this is true.

We started Souper Cubes
as a hobby and a passion,

and to build it into our career
that we get to work on together

as a husband and wife,
and to be in so many families

and homes across the
country is really a dream for us.

And it makes us
feel pretty "souper."

[ Both laugh ]

Together: Souper Cubes!

♪♪

Narrator: Next in the
t*nk is a company

that brings a cool addition
to your wellness routine.

♪♪

Hey, Sharks. I'm
Michael Garrett.

And I'm Ryan Duey.

And we're from
Sacramento, California.

Our company is Plunge,
and we're seeking

$1.2 million for a 5%
stake in our company.

[ Chuckles ]

Sharks, what if I told you
you could lower inflammation,

increase fat loss, strengthen
your immune system,

sleep better, reduce
muscle soreness,

have more energy
in just one minute?

Well, this isn't
fiction. This is reality.

And this is not a bathtub.
This is a cold plunge.

Studies show that cold plunging

increases norepinephrine levels

two to three times
their normal amount.

I don't know what
that is, either.

[ Laughter ] But apparently

that's what leads to all
those incredible benefits.

Sharks, all over the world,
cold exposure is exploding,

but buying 40 pounds
of ice is a huge hassle.

Our revolutionary cold
plunge uses powerful

cooling and filtration
to give you cold,

crystal clear water
whenever you want.

All in a beautiful, sleek tub.

Just set your temperature
anywhere from 60

all the way down to 39.

Wow. Oh, wow.

So, Sharks, who's
ready to take the plunge?

Wow. How about you, Robert?

You look like you
could use a plunge.

I'll try it. I'll try it.

Let's do it, baby. Amazing.

What's the temperature set at?


That's not bad.

It's pretty cold. 55 is cold.

No, I've done cold
plunges, like, many times

'cause we have one at
the Mavericks, obviously.

Why can't I fill up my tub
with cold enough water?

Cold out of the
tap isn't gonna be,

you know, 55, maybe
some times of the year,

if you're in a cold environment.

You can throw ice in it,
though? Can you throw ice...

That's what most
people do right now.

You do throw ice? They're
buying ice, and then it's like

they have to
drain it right after.

Where our unit,
it's always filtering.

It's always set.
It's always clean.

It's about... Oh, lord.

[ Laughter ]

All right! All right.

The key here is gonna be
anchoring to your breath.

Your body is gonna
want to be really excited

and you're gonna
want to get out,

but you want to override
that with slow, long breaths.

Just relax, Robert.

How long is he supposed to
hold back the urge to jump out?

Two minutes.
Greiner: Here he goes!

Two minutes is ideal.

-Oh! -Oh, geez!

Cuban: You can't
do that, Robert.

You just got to get
in. Don't be a wimp.

So do I just... Yeah.

Just lay back, get comfortable.

- Robert! Robert!
- Focus in on the breath.

[ Sharks chanting,
"Robert! Robert!" ]

[ Screams ]

[ Laughter ] Slow
breaths, Robert.

[ Screams ] Slow breaths.

- In the nose.
- Come on, here we go.

Is that a minute?! Garrett:
You got this. Override the body.

Your mind wants to get
out. Just breathe through it.

It's just your
body's loving this.

You're totally safe. Shut up!

[ Laughter ]

Slow down the breathing.
Nice, slow breaths. Beautiful.

Be one with the cold.

He's gonna feel
incredible after.

I'm feeling really cold.

Are you feeling like numb,
like you're getting used to it?

Like, it's not as bad
as when you first got in?

It's shocking.

But surprisingly, the
breathing really helps.

And now it doesn't feel as bad.

I wouldn't say it's
comfortable, but it's not bad.

I'm getting out.

Grab him a towel right there.

Oh, my God.

Wow.

Mark, why do they do it?
Why do the athletes do it?

It helps with inflammation.
I'll just put my leg in.

Actually, it's incredible.

Like you feel
your blood flowing.

Like, seriously, Like I feel...

No, it wakes you up. If you
go all in, it wakes you up.

Like, I'm ready to go!

Let's go. Let's go.

So, Michael and Ryan,
the big ice cube in the room,

is the $1.2 million for 5%,
imputes a $24 million valuation.

You better be
selling a lot of them.

We just launched a year ago.

We were building
them out of his garage.

Literally 12 months
ago, we sold our first unit.

To date, we've done
$4.9 million in sales.

Wow. Wow.

Good for you.

Over the 12
months, $4.9 million,

year to date, $4.5 million.

And we're on pace this
month to do $1.1 million.

So walk us through the economics.
Good job, guys. Well done.

What's your cost to make them?

Thank you, thank you.
What's it cost to make one?

And how much do you sell
it for, and how do you sell it?

Garrett: So we sell
them all on our website.

And so this Plunge is $4,800,

so it's very affordable. Wow.

Our landed cost is $2,400,
and that does include shipping.

Herjavec: Do you have
an installation service?

That's the amazing part of it.

It shows up, they put
it wherever you want it.

From there, you have
about 15 minutes of setup.

And that 15 minutes is
mostly filling it up with a hose.

The question is how
big is your market, right?

Totally. Because what happens
when somebody comes up

with a good product, you
get all the pent-up demand

as people hear about it
and they dive in, right? 100%.

So you get this initial surge.

But at a $24.5 million
valuation and only having 5%,

you have to make $24 million
in distributable cash profits

in order for us to get
our money back, right?

I have to think in terms of not
only can I get my money back,

but how much more
money can I make on it?

And for you to come on
here with that valuation,

I can't blame you.

I can. I'll do the blaming.

Okay, so I like the deal
because of the revenue,

but I also see
lots of competitors

that could knock you off.

I'll make you an offer.

I'll give you the $1.2
million for 18% equity,

but I have to get my
money back somehow,

so I get 18% of the
distributions, you get the rest.

Every time you take out
a dollar, I get 18 cents.

Greiner: Let me tell you
what I think. I agree with Mark.

I think about, like,
how many years

is it gonna take me
to get my money back?

I wish you the best
of luck, but I'm out.

So, guys, is more money better?

Like, is the $1.2 million,
when you've calculated,

what you really need, or is
it like if you got more money,

would it make life better,
would make things go faster?

So $1.2 million gets us...

It's enough for 400
units that we can build.

Garrett: What we want
to do with the money

is to really ramp up production.

Okay, I'm gonna
give you an offer.

I'll give you the
$1.2 million for 20%.

And it's gonna be in
the form of half a loan

or line of credit,
whatever you prefer,

because I think
that you really need.

You just have
cash-flow problems.

And then the other 50% up front.

Got it. Thank you.

I asked you a question about
cash because I wanted to see

what you were doing with it.

If you have more cash,
do things go faster?

And it sounds like they do.

I'll give you $2.4 million.

$1.2 million for
straight equity.

I want 15% for that.

And I'll give you
the other $1.2 million

as a straight-up loan.

Same rate you would
get from the bank.

Because I do think more
money will make things go faster.

So that's my offer.

Cuban: Guys, I'll
simplify all that, okay?

I'll offer you the $1.2
million, 15%, right?

I'll finance your
purchase orders,

and it's just got to be first
dollar back to me on the sale.

And so if you finance 100
units or 200, when you sell those,

I get paid back first, right?

So it's just first dollar back.

Got it.

Greiner: So, you guys,
you now have four offers

on the table. What a
lucky day for you guys.

What are you gonna do?

Robert, would you drop to 10%?

I'd drop to 12%.

Mark? 10%?

♪♪

Robert, we got a deal.

All right!

Yes, brother.

Wow. Whoo!

[ Corcoran laughs ]

Incredible.

Thank you.

I am so cold.

Guys, that was an
awesome job. Awesome job.

Thank you, Robert.

Congratulations, guys.
Bye, guys. Good luck.

Whoo!


were in my garage

building cold plunges,
and now here we are.

We have a deal with
Robert... $2.4 million.

It's incredible.

♪♪

Narrator: Next in the
t*nk is an innovation

to a common kitchen tool.

♪♪

♪♪

Hi, Sharks. I'm
Adam. And I'm Josh.

We're from Columbus, Ohio,

and we're the creators
of the Handy Pan.

We're here seeking
a $10,000 investment

for 20% equity in our company.

- [ Chuckles ]
- Gosh.

Sharks, everybody
loves Taco Tuesday.

You know what nobody loves?

Cleaning up the
greasy, disgusting mess

that follows cooking
with a frying pan.

We've all been there.

You tried pinching the
lid, lose half your meat,

still end up with
grease in your tacos.

Or you do the spoon
dance, and you have to guess

when your food
is done straining.

Or you have the messy
exchange with a clunky colander

that you still end up
having to clean in the end.

That's where we come in.

Introducing the Handy Pan...

A pan when you want it, a
strainer when you need it.

With the simple push
of a button, boom!

The amazing Handy Pan
becomes a strainer, too.

-Ah. -Bacon? No problem.

Eating a little healthier? Boom!

Perfect for your
veggies and stir-fries.

How about pasta night
with the family, Sharks?

Boom!

Now you cook your
meat sauce all in one pan.

Cook your meat sauce in one pan.

Herjavec: Wow.
That's really clever.

And the Handy Pot is
perfect for your pastas.

What if you don't
need to strain?

You're cooking something
that doesn't require it?

No worries. The patented
design makes sure

the strainer is always
there if you need it,

but it's never in the
way if you don't need it.

Conway: The Handy Pan is a
must-have for anyone who cooks.

All right, Sharks,
let's get cooking.

Without the grease, of course.

And you'll notice some
samples in front of you

to try for yourselves
if you'd like.

Josh, Adam, one of the
hardest things you can do

is get on this show.

Thousands of
people apply. Yes, sir.

You did it, and
you're looking for...

$10,000. That is correct.

[ Laughs ]

-You're looking for
-I think that's a first.

That is a first.

That's a great question.
I'm glad you asked.

It took three years of
effort to get on this show.

Basically, the valuation is
that we wanted to come in here

with a number that doesn't
stand in the way of a deal.

And have you sold any?

So, currently, to date,
after a small production run,

we've got $7,955.61 in sales.

Really? We understand
with $7,900 in sales,

that we're not
gonna be able to ask

for a million-dollar
valuation, of course.

That doesn't stop
anybody. [ Laughter ]

Corcoran: You've been
in business three years.

Why so few sales?

Great question.

The sales have been
exclusively online.

And what I believe is

this is a product
that's ripe for retail.

How much does it cost?

$29.99, and that
included shipping.

$29.99. And what
does it cost to make?

It was $8.89 per unit.

Landed, we were at $11.43,

but that was only
based off 950 units.

-Josh, what's... -But
it's highly demonstrable.

Why do you think
your sales are so low?

Personally, I think
that people like this,

but it doesn't move the needle
enough in that mainstream market

to make someone a
frying pan customer

who's not already a
frying pan customer.

But $7,000... there's
got to be a bigger reason.

I feel like you're not
telling us something!

Greiner: Let's
just ask honestly,

what do you think you did wrong?

You know, I think in hindsight,

I think that we could
have promoted it better

with our online videos,
advertising sales.

That's not an arena that
either of us were in currently.

So I think we had
some struggles there.

What were you in?
What's your background?

I started out as a
entry-level person

in a office
technologies company.

I ended up as the
director of service

for 10 years at that company.

And then I've transferred
into real estate.

Okay, and you? I am an attorney,

and I actually am a
server and a bartender

a few nights a week
at a local restaurant.

And an attorney? What does
that say about your attorney skills?

Yeah. Come on, man!

It says I need a break
a few times a week

and want to hit the off switch.

Good clients.

That's where he
finds his clients, yeah.

I love that job.
What area of law?

Criminal defense, mostly.

Perfect!

[ Laughter ]

No, I'm gonna tell you
why it's 7,955 bucks

or whatever it is.

Nobody cares. Chef Wonderful...

It's not a product that's
ever going to sell. Stop.

- No! Are you kidding me?
- Stop!

Well, then, how come
there's no sales, Mark?

Well, let's ask the right
question then, right?

How much money have
you spent on advertising?

For that amount of sales, we
spent $553 on Facebook ads.

There you go. Right?
It's a very, very hard

to sell direct to consumer
online from your own website.

So the next question becomes,

did you try to sell
these on Amazon?

We did not.

Greiner: Oh, well,
there's the big miss.

But, listen, I'm going to
completely disagree with Kevin.

All right?

So I think that you probably

just didn't have the
right marketing savvy.

When you're cooking,
if you could just do this

and drain out the
grease... eureka.

And you don't have to clean
two things. O'Leary: So, Lori...

The great part about
the design and our patent

is that it can fit on any size pan.
Herjavec: You have a patent for this?

And you have a patent
that covers all of this?

We have four patents. We have
design and utility on what you're holding.

We have design issued on
pot and pending utility on pot.

So three of the four are issued.

The value of having an
attorney partner, right?

So, listen, we've got a great
product. Herjavec: Guys, I...

Guys, it's a great product.

Here's what doesn't
make sense to me.

You're obviously
bright guys, right?

You're a lawyer. Cuban:
But they got day jobs.

Their back's not against
the wall. No, no, I hear you.

But we've had...
Over the 13 seasons,

we've had people
here with three jobs,

no experience, never
knew how to do video,

never knew nothing about social.

But when they need
it and their back was

up against the wall,
they made it happen.

You haven't done
anything in three years.

Because they got other jobs.
Their back is not against...

- Is that an excuse?
- Wait, wait.

Greiner: You want
to know something?

I don't even care
about all this.

You asked for $10,000 for 20%?

I'll give it to you. I
have nothing to lose.

- Done. We're done.
- Absolutely.

- Done.
- We've got a deal.

- Okay.
- There you go.

- Smart, Lori. Smart.
- That's really true, though.

I mean, seriously,
what do I have to lose?

Absolutely. Thank you so much.

Okay. [ Laughter ]

Herjavec: Oh, my God.

Yeah. Kaboom!

Pleasure to meet all of
you. Thank you very much.

Cuban: Congratulations,
guys. Good job.

- Thanks.
- Check it out.

Lori, why didn't
you ask for 50%?

I don't want to be a
greedy savage like you.

Conway: We came here. Lori
was exactly who we wanted.

We thought we
had a good valuation

to just make it a no-brainer.

We actually sat on the deck
of my house with my wife,

drawing this on a
napkin, and she first said,

"You guys are idiots. I
don't even know what that is."

She probably still thinks
that. And this guy said,

"You won't be calling us idiots

when we have a
deal with Lori Greiner."

♪♪

Narrator: Next up
is a better version

of a must-have for athletes.

♪♪

Sharks, what is up?!

My name is Seneca Hampton.

I'm from Las Vegas,
Nevada, baby.

Whoo! Whoo!

And today I'm seeking $500,000
in exchange for 10% equity

in my company, Hampton Adams.

Okay, Sharks, if
you've played sports,

then you know
there is one product,

one piece of equipment,

that almost every
athlete uses without fail.

Some people just
won't perform without it.

Allow me to introduce you

to one of the greatest
creations on planet Earth.

Wow. I present...

[ Drumroll ]

athletic tape!

♪ Ahhh ♪

[ Laughter ]

But not just any
athletic tape, Sharks.

This is Hampton
Adams, baby! Whoo!

Now watch this.

Ugh! It's 45 pounds here.

Oh, yeah.

Ah! Greiner: Wow!

-Oh! -Whoo!

- Boom!
- That is strong tape.

But wait, there's more.

- Oh, there's more.
- [ Laughs ]

You know that
tape that's so strong

that you got to
use the jaws of life

or be a bodybuilder to tear it?

Not here, baby. We
fixed that. Watch this.

♪♪

Lay it like that.

Ah!

- What?
- It's like butter, baby.

[ Laughter ] Cuban: Like butter.

By simply listening to athletes,

we've developed an entire
line of sports-medicine products

specifically for the athlete,
trainer, and physical therapist.

So, Sharks, who
wants to roll with me

to "tape" the world by storm?

Wow. Well, great, great demo.

- Good presentation.
- Great presentation.

Thank you. So in
front of you guys,

you'll see a sample

of our eight-pack
of athletic tape.

It's one of our best sellers.

So we sell all sports
tapes. That is all that we sell.

And we actually do
pretty, pretty well, I think.

I bet with those
numbers you tossed out,

I bet you're doing very
well. Greiner: Yeah, right?

Oh, the numbers?
Yeah, the numbers.

Sales... about $24,000 in sales.

- What?
- That's it?

- What?
- Yesterday.

- Yesterday.
- Yesterday.

All right, you got
us. You got us.

So lifetime, we've sold
about $12.2 million of tape.

- What?!
- Whoa! Whoa!

And I say "we," I mean
me. I'm a one-man show.

-Is that... -You are?

Is that one year's
worth of sales?

One year... this year,
year to date, $5 million.

- What?!
- Come on!

- $5 million year to date?
- Yeah.

What distributor are you using?

So we sell primarily
through Amazon.

So tell us how you got there,

because that's your magic
sauce, right? Yeah, yeah.

Yeah, like, $5 million
is unbelievable.

Thank you.

This year, we'll
close out $6.2 million,

$6.5 million,
somewhere in there.

What are you gonna
make on the $6.2 million?

About 20%.

Ah! So therein lies the
rub, right? Greiner: Yeah.

Because these should
have a lot of margin.

So ad spend,
right? That's there.

About 20% of our
margin is in ads.

So you said you're gonna
do $6 million to $7 million.

So when you say 20%, is
that your pretax net earnings?

- Yeah. So that's EBITDA.
- Okay.

All of that goes right
back into inventory.

And so therein lies
the problem, right?

Right. It's a beast that
you're constantly feeding.

But, Seneca, the big-tape
people can do the same thing.

Like, what's making
yours stand out?

Some of this tape that you
use, right, people are allergic.

And they'll have rashes or
pull their hair out. Greiner: Right.

So there's a different
adhesive that we actually have

in our tape.

It's not proprietary,

but no one's used it in
the way that we're using it.

So that's the secret
sauce? That's it. Yeah.

So there's no patent
on your product at all?

No, there's no patent.

Cuban: It takes
a lot of learning

in the advertising
and SEO space.

Yeah. So what was the
process you went through there

to get to the top?
Let me answer that.

About seven years ago,

I started at a company
as a customer-service rep,

and they were
selling light bulbs,

and it was a similar model.

And I just dedicated myself
and I spent 80 hours a week

just working and
getting paid to learn,

and I grinded it
out for three years.

I said, "I think I
figured this out.

I think I know how to do it."

And so I went to look
for a product for myself,

and I grew up playing football.

And so I've used a
lot of athletic tape.

I wanted to learn how
to become wealthy.

How do I build wealth?

If you knew where I
came from, you'd be like,

"There's no reason you should
be standing here right now."

Where did you come from?

So I'm from L. A. originally,

and I have four
brothers, four sisters,

and there were days where
we'd go to Burger King,

grab a $1 burger,
slice it in four,

and that was dinner.

We grew up like that...
Motels, sleeping out of cars,

and I was just
like, "This ain't it."

And as I got older, I was
like, "You know what?

I'm gonna dedicate
myself to figuring this out."

And so I learned
you build wealth,

start a business.

To start a business, you
need to sell your product.

And so I learned sales.

So what do you need
the $500,000 for?

It's a cash-flow business,
and so my orders...

I don't order one time at
the beginning of the year.

I'm ordering every month and
getting shipments every month

to be able to take
the cash they're giving

into the next order
and the next order.

You're basically breaking even.

Basically, to scale it and
grow it. On a cash basis.

Yeah. But as long as
your sales are growing,

it's like you're feeding
the dragon. Exactly.

Like, it keeps growing.
You got to keep feeding it.

And so I never get out
of the spot where it's like,

if something goes wrong,
this will all come tumbling.

Cuban: Seneca, you know,
there's a bunch of companies

buying smaller companies
and rolling them up.

Has anybody approached
you to acquire you?

I get I don't know how many of
those e-mails from those people.

And why haven't you
pursued any of that?

Because I'm on the
fence of, should I sell it

or should I keep it
going? Herjavec: Yes.

If I keep it going, then...

You should sell it.

You think I should
You should sell it.

Wow.

And I got to tell
you, I love business,

and I love every
business I started.

But I learned a long time
ago, the best time to sell

is when you don't
think you need to sell

and when you don't
need the money. Amen.

You're kind of on the verge
of that, honestly. Yeah. Yeah.

If you actually get
much more successful,

your cash problem may
actually get much worse.

Yeah. Yeah, and if you
have to stress every month

about that next month,
it's time to sell, right? Yeah.

Good advice. But the good
news is, whatever you get for it,

now you've got the formula.

I got a question.

Robert, would you buy it?

[ Laughter ]

Would I buy the tape?
Would you buy the business?

♪♪

Narrator: All
Sharks are still in,

but despite Seneca's
impressive sales numbers

for his athletic-tape
company, Hampton Adams,

his low margins pose a problem.

If you actually get
much more successful,

your cash problem may
actually get much worse.

Yeah. Yeah, and if you
have to stress every month

about that next
month, it's time to sell.

I got a question.

Robert, would you buy it?

[ Laughter ]

Would I buy the tape?
Would you buy the business?

♪♪

I love the business.

I'm not gonna give you
the premium price for it.

You're the right guy.

You're gonna do
this again. Thank you.

Look, I'm not going
to invest 'cause you...

You should sell this business.

Thank you. You've
done it. You've proven it.

And like Mark said, use your
knowledge for the next one.

Okay. Thank you.
Congratulations.

Thank you. I'm out.

Thank you so much. Yeah.

So when you sell this,
will you come work for me?

[ Laughter ]

If you'll have
me, I'll do it, sure.

Look, Seneca, what you've
accomplished is great.

You did it the exact right way.

And your problem is
you're stuck in that wheel

where you just can't
get off, you know,

and that means it's not
investable, right? Okay.

Because there's no
extra margin there... Yeah.

For you to be
able to pay us back.

Yeah.

So for those reasons, I'm out.

Okay. Thank you.

I didn't know much
about athletic tape,

but it seems like the
only one I'd ever buy

now going forward. Thank you.

Seems fantastic.

But I don't think it's the
right investment for me

because the situation,
but I wish you good luck.

Thank you. And
I'm sorry, I'm out.

I can distinctly remember
being 21, being a diner waitress,

going home to my
hometown and crying

because I didn't know
what the formula was...

Wow... for making a change.

You know? But can
I tell you something?

Once I decided I was in control,

that I could make a change
and the key to it was knowledge,

I got really smart, really
fast, like a hungry animal.

- Yeah.
- Yeah.

And I don't think people realize

how much desire
has to do with success.

Yeah. And so you're the
walking, talking billboard

of how to do it
right. Thank you.

I mean, it's breaking my
heart. I'm not investing because

we'll just get in the rat mill
with you, you know what I mean?

Yeah. So I'm out.

Thank you, Barbara. Thank you.

O'Leary: I think you've
achieved something

that's quite impressive.

But the problem, the
challenge of this deal is

half a million...
How do I get it back?

I don't know what
your business is worth...

Somewhere between
$3 million and $5 million.

But I'll make you an offer.

It's the only way I could do it.

This is a classic royalty deal

because there is no other
way to get your money back.

He's got 20% margins.

I'll give you the $500,000.

I want a dollar a package

until I get a million
and a half back.

So basically, I'm trying to make
a million off my $500,000, okay?

Yeah. You can't do that.

I'll take the 10%
because you might sell it

before I ever get
back my dollars, okay?

I got to be honest with you. I
don't know how else to do it.

Yeah. I... Herjavec:
You can't do this deal.

Seneca, you're
digging a deeper hole.

Well, that's the guy
that said no to you, right?

I'm gonna use Kevin's own quote.

"I forbid you to
take this deal."

You are just punting the problem forward,
man. Says the guy who's giving you nothing.

Seneca, the problem isn't
the equity or the amount.

Yeah. The problem is the royalty

'cause your margins
are so low already...

Seneca, it's great to get advice

from people who
are giving you this.

He's taking 7%. It's
a loan-shark deal.

- Yeah.
- It really, really is.

Why don't you
counter him and tell him

you'll give him 10 cents?
I hear a noise, but zero.

I just don't want you
to make a bad deal.

Don't mistake today's problem

by replacing it with
a long-term problem.

What he's offering
you seems good today,

but it's cutting into your
margin forever. Yeah. Yeah.

No, it isn't forever. It goes
away after a million and a half.

[ Laughs ] Goes away
when you're out of business

because you gave
away all your margin.

Well, then I'm losing money.

If you actually go out of
business, I lose money.

That's a bad outcome for me.

You know, I love it when
Sharks give you advice

and it's so valuable.

I'm the only Shark
that believes in you...

The only one.

All roads lead back
to Mr. Wonderful.

I appreciate the offer,

but I have to pass on the offer.

I appreciate it.
Thank you very much.

But I hope you come back with
us with your next great business

because you are a natural-born
entrepreneur... Thank you.

And a phenomenal
symbol of how to do it right.

Thank you. Thank
you guys so much.

- All right, take care.
- Good luck, Seneca.

Greiner: Good luck, Seneca.

That is success. He was amazing.

Hampton: I'm gonna
take Robert's advice.

I'm gonna sell the company.

I didn't get a deal, but I got
something much more valuable.

I got knowledge
from millionaire...

Multimillionaires
and billionaires,

which you can't put
a price tag on.

They've been through it
before you.

So, to me, that's like gold.

♪♪

♪♪