First into the tank for the special Christmas-themed episode is Sarah Blaine of Sealed by Santa, seeking $150,000 for 20 percent equity.
Sealed by Santa delivers the magic of Santa to every child. They offer personalized letters from Santa, which include the child’s name, accomplishments and wish list items of the child and even Santa’s official wax seal. Specialized letters include a Christian letter, baby’s first Christmas, a teen letter and even a letter for those who are naughty. Other products, Santa approved, are a “Nice List” certificate, Santa cocoa pack, magical keys and evidence kits. Letters cost $10.95 and are sure to make children’s holidays merry and bright.
A photo posted by Santa Claus (@sealed_by_santa) on Jun 7, 2016 at 1:02pm PDT
The sharks love the concept and seem impressed that 45,000 letters were sent out last season. They did $355,000 in sales last year, an increase from the year before. They have also started sending Santa postcards and Easter Bunny letters so that it can become a year-long business and hope to add even more holidays in the future.
Kevin O’Leary offers $150,000 for 33.3 percent, but she worries the equity is too high. Barbara Corcoran likes the idea of it being seasonal but doesn’t find it investable, so goes out. Mark Cuban believes she’s doing too much with the various holidays and goes out as well. Robert Herjavec then offers $150,000 for 33.3 percent, with $100,000 going to Blaine annually. He believes she should expand to other holidays right away.
Lori Greiner then jumps in, offering $150,000, $75,000 of which is a loan for 22.5 percent. She accepts after Blaine proposes an additional Tooth Fairy idea.
Each week on “Shark Tank,” budding entrepreneurs have the opportunity to pitch their emerging business to six multi-millionaire and billionaire investors, known as sharks: Mark Cuban, owner of the Dallas Mavericks; Daymond John, fashion mogul and founder of FUBU; Kevin O’Leary, self-proclaimed Mr. Wonderful and founder of O’Leary Financial Group; Barbara Corcoran, real estate maven; Lori Greiner, queen of QVC; and Robert Herjavec, technology guru and founder/CEO of the Herjavec Group. Venture capitalist Chris Sacca is also slated to appear as a guest shark this season.
“Shark Tank,” which is based on “Dragons’ Den,” is produced by Mark Burnett and first debuted in 2009. To date, the sharks have invested more than $87 million in various companies after engaging in numerous bidding wars and shark fights. A new episode airs each Friday at 9 p.m. on ABC.
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Source: Business 2 Community