Shark Tank Business Valuation and Negotiation Lessons Lumio, TurboPup, Bello Verde, Hold Your HaunchesFollow @justelementary
Another good industry to innovate in is the pet industry. Kristina Guerrero pitches the Shark Tank her product called the TurboPup. TurboPup is a line of meal replacement energy bars for dogs. Guerrero created was inspired to create TurboPup during long outdoor adventures when she would snack on energy bars, but didn’t have a simple solution to feed her dog. This product is definitely geared towards folks who adventure with their dogs. The sharks will definitely question Guerrero about the size of the market. Guerrero is a veteran of US Air Force. TurboPup is based in La Pine, Oregon. TurboPup is sold online and in independent retailers in the United States. The pitch for TurboPup should involve a lot of Robert Herjavec smiles as a dog or two should be on set for the pitch.
Getting the Shark Tank update segment is Hold Your Haunches. Hold Your Haunches was pitched to the Shark Tank by Erin Bickley and Jenny Greer from Macon Georgia. Buckley and Greer had a good pitch that had the sharks interest. Barbara Corcoran and Lori Greiner bit on the pitch and made a deal with the Southern duo. Hold Your Haunches is a product that as a shaper for women’s trunks. The image describes it best. The material works similarly to the way the compression sleeves work that are seen on professional athletes such as NBA players. Hold Your Haunches currently is sold online and in a few boutiques. After their episode originally aired, they quickly sold out, so expect to hear from Greer and Buckley that Lori and Barbara were helpful with manufacturing.
Pitching a high technology product to the Shark Tank is Max Gunawan. Gunawan’s product is called Lumio. Lumio is a lamp that folds into the shape of a hardcover book. Yes, you read that correctly, a lamp that folds into the shape of a book! Gunawan is an architect who designs for minimal living in regards to footprint occupied and design efficiency. The Lumio lamps unfold like you see in the image, and illuminate from each ‘page’ Lumios are charged via usb, so they can be recharged easily with portable power packs that people use for mobile phones and tablets, and even from laptops. Lumio lamps are visually striking, so the only question will be the economics of the product. Will the margins and market be large enough for the sharks to invest in Lumio folding lamps?
Apparel is obviously a big industry, but one full of many failures, as it is an incredibly cutthroat business. Hoping grow the niche that he has carved with an investment from the sharks is Joseph Chay. Chay’s business is called Bello Verde and is based in Columbus, Ohio. Bello Verde is a business that provides custom tailored suits for clients. Bello Verde tailors go to the clients. Obviously this is a premium service, so it is something that the sharks will relate to. Will there be an angle for Daymond John to invest in the business? Obviously, how Bello Verde leverages the data it has on customers will speak to one angle how the company can grow. One guarantee is that Chay will be a dynamic personality, as his track record in personal sales is strong.
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