With eight seasons and almost 200 episodes, the popular American reality TV series Shark Tank has seen a number of interesting products and businesses. The point of the show for the contestants is to convince the judges (the Sharks) to invest in their business ideas to make them profitable. Yet, despite their outstanding experience and know-how, the judges have rejected some ideas that later turned out to be very successful and have earned the rejected contestants millions of dollars. From crazy sweaters from Tipsy Elves to the dating website Coffee Meets Bagel, today’s post will show you 25 Wildly Successful Shark Tank Businesses You’ll Want To Hear About.
A ticketless coat check system, CoatChex was conceived by Derek Pacque, who was only 23 when he appeared on the show. The Sharks saw some potential in the idea, leading to Mark Cuban offering $200,000 for a third of the business. However, Pacque thought his company was worth more and left without a deal. Yet, just being featured in the show was enough for the company to skyrocket their sales and partner with famous brands such as the Color Run and New York Fashion Week.
Rugged Races is an extreme obstacle course event company founded by two law school mates. The duo appeared in the show in April 2014, and they made a huge impression on Mark Cuban. He offered them $1.75 million for one quarter of the company. The investment allowed Rugged Races to expand to 28 cities, double their sales in one year and significantly increase the attendance of the events.
Grace and Lace
Founded by Melissa and Rick Hinnant, Grace and Lace is a company producing creative boot socks. The couple made a deal with Barbara Corcoran, who offered the couple $175,000 for a 10% equity stake. Corcoran also introduced the Hinnants to the editor of Cosmopolitan, who featured them in the February 2014 edition. The company has been a great success since then, having made millions in sales.
Nuts ‘N More
In 2013, three Rhode Island natives, Dennis Iannotti, Peter Ferreira, and Neil Cameron, went on the show with their original, protein-enriched peanut butter known as Nuts ‘N More. The trio made an agreement with Robert Herjavec and Mark Cuban for $250,000 for a 35% equity stake. The company finished the year out at 1 million in sales, and they made five times more in the next year.
Echo Valley Meats
Dave Alawan was the owner of a fresh meat company, Echo Valley Meats, and he came to Shark Tank for $300,000, offering 20% stake in his business. While the sharks loved the product, they criticized Alawan for not having a clear plan, and he eventually left the show without a deal. However, he worked hard, and his business grew significantly so he returned to the show once again, this time managing to secure $125,000 for a 25% stake, which helped him expand the online storefront.