Here’s What Happened After Shark Tank: The Success Stories You Didn’t Expect
Shark Tank, the popular television show where aspiring entrepreneurs pitch their business ideas to a panel of highly successful investors, has become a cultural phenomenon. It has provided both entertainment and inspiration to millions of viewers across the globe. While many of the entrepreneurs leave empty-handed, some manage to strike a deal with one of the “sharks” and secure an investment that could potentially change their lives.
The Rollercoaster Ride to Success: Tipsy Elves
One of the most notable success stories from Shark Tank is that of Tipsy Elves, a company that specializes in producing quirky and humorous holiday-themed apparel. After appearing on the show in 2013, Tipsy Elves founders Evan Mendelsohn and Nick Morton secured a $100,000 investment from shark Robert Herjavec. This kick-started their journey to success, and since then, they have experienced tremendous growth, with their revenue increasing by over 600% in just a few years.
From Sea to Shining Success: Susty Party
Susty Party, a company that creates environmentally friendly and sustainable disposable party supplies, also had an impressive post-Shark Tank journey. After appearing on the show in 2013, founders Jessica Holsey and Emily Doubilet secured an investment from shark Mark Cuban. This partnership helped them expand their product line and reach a wider audience. Today, Susty Party products can be found in major retailers across the United States, and their commitment to sustainability remains at the core of their business.
The Art of Negotiation: Scrub Daddy
Scrub Daddy, a smiley-faced sponge that changes texture based on the water temperature, is another unforgettable Shark Tank success story. Founder Aaron Krause appeared on the show in 2012 and secured an investment from shark Lori Greiner. This partnership propelled Scrub Daddy to become a household name, with sales skyrocketing to over $100 million in just a few years. Krause’s ability to negotiate a deal with Greiner allowed him to leverage her expertise in home shopping networks, solidifying Scrub Daddy as a must-have cleaning product.
Not All Deals Lead to Success: 2400 Expert
While many entrepreneurs find success after appearing on Shark Tank, not all deals lead to the same outcome. One example of this is 2400 Expert, a company that offers SAT and ACT preparation courses. Founder Shaan Patel struck a deal with shark Mark Cuban in 2016, but unfortunately, the partnership did not bear significant fruit. Despite the exposure from the show, 2400 Expert faced challenges in scaling their business, eventually pivoting to focus on online courses. While the partnership with Cuban didn’t lead to the desired outcome, Patel continues to adapt and grow his business.
Resurfacing After Failure: RuffleButts and RuggedButts
Another example of a deal not leading to long-term success is that of RuffleButts and RuggedButts, children’s clothing companies founded by Amber Schaub and her husband Mark. Schaub secured a deal with shark Barbara Corcoran in 2013, but despite the initial boost, the partnership did not result in the expected growth. However, Schaub’s resilience and determination allowed her to turn things around. By focusing on online sales and expanding their product offerings, RuffleButts and RuggedButts have become successful eCommerce businesses today.
Bouncing Back From Rejection: BevBoy
BevBoy, a company that produces neoprene koozies with a built-in bottle opener, experienced initial rejection on Shark Tank. Founder Jay Kriner failed to secure an investment in season two. However, this setback didn’t deter him. He continued to work on his product and refine his pitch. In 2016, Kriner applied again for the show’s eighth season and received an investment from shark Daymond John. This renewed opportunity opened doors for BevBoy, increasing their distribution and giving them a second chance at success.
Conclusion
The success stories and lessons learned from Shark Tank are a testament to the resilience and determination of entrepreneurs. Whether it’s securing a deal with a shark or bouncing back from rejection, these entrepreneurs have shown that success is possible with the right mindset and a willingness to adapt. While not every entrepreneur experiences immediate success after appearing on the show, the exposure and guidance provided by the sharks often serve as a catalyst for future growth. Shark Tank continues to inspire and entertain viewers worldwide as it gives aspiring entrepreneurs a chance to turn their dreams into reality.
*Source www.foodrepublic.com
