Swimming with the Sharks: My Experience on Shark Tank

Appearing on “Shark Tank” was a dream come true as both a fan of the show and as an entrepreneur trying to grow a business. We got involved in the show so quickly that it’s funny to look back on now. We didn’t exactly follow the traditional process for getting on the show; I was just waiting an episode on TV and the idea hit me – this would be a great opportunity for Wine & Design. I grabbed my laptop and fired off an email to the producers about our company and how hard we’ve worked to build it. The next thing we knew, we were flying to Los Angeles to meet with the Sharks.

The biggest challenge we faced in our whole Shark Tank experience was a race against the clock. Because we didn’t get involved through the typical application process, we had to hustle to prepare all the materials we needed in order to be part of the show. We had to put together an application video and draft a more structured pitch in just a few weeks, while still preparing outfits, gathering props, hiring our model and other preparations we didn’t really think about when the process got started.

We were really nervous going into the taping. One of our main business goals right now is to grow the company and scale up. Our team has been very successful in growing the company without a lot of outside input so far – in just six years we’ve grown from our original location to more than 75 studios across 15 states.  To get where we want to go, however, we’re interested in getting insight and advice from someone with experience growing a business like ours. That’s where our desire to partner with one of the Sharks came in. Aside from the business aspect, we were also looking forward to having a little fun and presenting the Sharks with a small taste of the Wine & Design experience.

Going into the show, Kevin O’Leary was at the top of our Shark wish list because of his partnerships and experience in the wine and bridal industries. We also thought Barbara Corcoran would have been a good partner because she has great franchise experience and would fit in well with our majority-female leadership team and franchisees. When you watch the show, it looks like everything happens very quickly with entrepreneurs making their pitch and the Sharks either making offers or getting out within a 10-minute segment, but in reality they spent around 90 minutes really grilling us on our business model and projected growth.

After a fun, bachelorette party-style painting session – complete with wine and a nude male model! – we got down to business. In the end, we got offers from both Robert Herjavec and Kevin. We gave both offers careful consideration before going with Kevin’s.  Robert was looking for a little more equity in the company than we were willing to sell, and we really felt like Wine & Design would benefit from partnering with Kevin. We asked what he thought he could do for us and we really liked what he had to say about leveraging his knowledge of the wine industry and his insight in social media marketing. We came into the show looking for $500,000 in exchange for 10 percent of the company, but after talking through the financial details with the Sharks, we realized we were valuing the company based on future projects and not our current situation. In the end, we accepted $150,000 for 10 percent.

Working with Kevin has been great so far – they don’t call him Mr. Wonderful for nothing. We’ve had some great conversations with our brand team about potential partnerships, and he’s been able to provide great advice and feedback on a variety of great advice, even in some areas we weren’t expecting. He and his team have been very supportive, and we’re really happy with our decision because of the potential we see to accelerate our growth with him.

Add Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Careers CEOs Companies Education Entertainment Legal Politics Science Sports Technology
David baszucki
10 Things You Didn’t Know about David Baszucki
educational platform
20 Things You Didn’t Know about 360Learning
Adrien nussenbaum
10 Things You Didn’t Know About Adrien Nussenbaum
Collectibles Credit Cards Investing Real Estate Stocks
Times Square
10 Reasons To Avoid Living in Times Square
BFT Stock
Is BFT Stock a Solid Long-Term Investment?
eBay
How to Retract an Offer on Ebay
Aviation Boats Food & Drink Hotels Restaurants Yachts
Have a blast at Wild River Family Entertainment
The 20 Best Things to do in Somerton, AZ
Sheraton Kauai
10 Reasons to Stay at the Sheraton Kauai Coconut Beach Resort
tequila
The Story of How Cincoro Tequila Got Started
BMW Bugatti Cadillac Ferrari Lamborghini Mercedes Porsche Rolls Royce
Lil Uzi Vert
The Awesome Car Collection of Lil Uzi Vert
Monterey Car Week
The History and Evolution of Monterey Car Week
Piëch’s New 603 HP GT
A Closer Look at Piëch’s New 603 HP GT
BMW Motorcycles Buell Ducati Harley Davidson Honda Motorcycles Husqvarna Kawasaki KTM Triumph Motorcycles Yamaha
Look at The 2022 Honda NT1100
A Closer Look at The 2022 Honda NT1100
2011 Yamaha FZ8
Remembering The 2011 Yamaha FZ8
Triumph Tiger Motorcycles
The Five Best Triumph Tiger Motorcycles Money Can Buy
Electronics Fashion Health Home Jewelry Pens Sneakers Watches
Tudor North Flag
A Closer Look at the Tudor North Flag
Veldskoen Men’s Leather Hand-Crafted Chukka Boot
The 10 Best Chukka Boots Money Can Buy
Oris Big Crown Pointer Date Collection
A Closer Look at The Oris Big Crown Pointer Date Collection
Natanael Cano
How Natanael Cano Achieved a Net Worth of $3 Million
David Packouz
How David Packouz Achieved a Net Worth of $2.9 Million
Charles Stanley
How Charles Stanley Achieved a Net Worth of $1.5 Million
David Copperfield
How David Copperfield Achieved a Net Worth of $1 Billion