Shark Tank Summary Notes

Trophy Smack Pitch

Presenters: Matt Walsh and Dax Holt
Seeking: $600,000 for 8% equity
Concept: Unique and customizable fantasy sports trophies, rings, and championship belts.
- Over 50 million Americans participate in fantasy sports annually.
- Current trophies are generic; Trophy Smack aims to elevate the winner's experience.
Customization: Users can select sport, size, color, etc., leading to thousands of trophy combinations.
Personal Story: Matt started the business after struggling to find a trophy for his fantasy league.

Matt Walsh: Strong logistics and supply chain background; previously a top salesperson in a freight brokerage.
Dax Holt: Background in entertainment news, experienced in marketing.

Initial Investment: $250,000 to start, with $60,000 used initially.
**Sales:
- Year 1:** $850,000 in revenue, $200,000 net profit reinvested in inventory.
- Year 2:** $19 million in revenue, $775,000 gross profit, $500,000 net profit.
- Current Year (2020): $650,000 year-to-date.
Profit Margin: 80% on average.

Significant competition in the awards/trophies space; traditional methods are outdated.
Potential to expand into corporate awards and employee recognition markets.

Mark Cuban: $600,000 for 25% equity.
Kevin O'Leary: $600,000 for 17% equity.
Final Deal: Matt and Dax accepted an offer that provided them with strategic resources.

Presenters: Aaron and Brett from Boulder, Colorado
Seeking: $500,000 for 2% equity.
Product: All-in-one countertop craft brewing appliance for home brewers.
Process Overview:
1. Connect maker kit and add ingredients.
2. Machine controls temperature for fermentation.
3. Notifications for each step via phone.
Production Cost: $375 per unit, retail price around $499.
Revenue Model: Selling ingredient kits after initial purchase.

Investment Raised: $3 million; sold 1,200 units through Kickstarter.
Concerns from Sharks: High valuation without strong sales; skepticism about consumer retention and margins.
Offers and Reactions: Significant skepticism from all sharks; ultimately no deal was made.

Presenters: Taylor, Ron, and Kobe from Grand Junction, Colorado.
Seeking: $250,000 for 10% equity.
Product: Portable modular outdoor kitchen for camping and tailgating.
Sales Performance: Over 100 units sold; cost to manufacture is around $748.
Market Opportunity: Growing interest in outdoor activities; unique design with modular functionality.

Investment: $250,000 raised from personal savings.
Concerns from Sharks: High valuation with limited sales; questions about market size and scalability.
Offers: Various offers including $250,000 line of credit with equity and royalties.
Conclusion: No deal was finalized, but discussions highlighted potential pathways for growth.