Kristina Guerrero is pitching TurboPUP to the Shark Tank. She hopes the sharks will agree that nutrition bars for dogs – a complete meal-on-the-go – are destined to be the next wave in canine care.
The doggie nutrition bars also have an endorsement from the National Association of Search and Rescue. Guerrero says they’re ideal for a day hike, a weekend camping, or an extended trip. She says she has made a lot of mistakes since she started her business, though, and needs someone with business savvy to guide her.
The idea for the product came when she took her pets on hikes, and discovered what a pain it was to pack bulky bags of dog food. She create TurboPUP bars, made with human-grade, American sourced ingredients, and designed to meet a dog’s complete nutritional needs for a meal.
Her MSRP for a single bar is $2.99, and for a two-bar pack, $4.99.
She started by hand-cutting and hand-filling each bar, working out of her kitchen, in 2013, and made $4,000 in sales. In 2014, her sales were $7,000. She began selling the bars in outdoor shops, alongside biking, hiking, and camping products.
She’d like the sharks to invest in TurboPUP so she can build the business into other retailers.
She’s asking for a $100,000 investment, and offering a 20% stake in the company.
Mark Cuban was the first to bow out, explaining that he prefers to dig into a company and learn all about it, and that he doesn’t know enough about the pet food arena to do so for this product.
Robert Herjavec concurred, saying that she was on the right track, and that she should look for an investment when she’s had $100,000 in sales, rather than $7,000.
Lori Greiner spoke along the same lines, as she stepped out, saying that this is a product that needs to grow, step by step, and isn’t ready for an investment.
Kevin O’Leary said, “Seven thousand dollars, in the multi-billion dollar pet food market, is turbo-poop-on-a-stick.”
Daymond John said he was on the fence, because she was offering a large stake in the company, but it would be a big gamble. He said that it was her military service that made him willing to take that gamble, and made an offer: $100,000, for 40% of the company.
Other sharks tried to talk him down, but Daymond pointed out that the company is scaling quickly, and that Guerrero had the potential to make it happen.
Guerrero gave a counter-offer: would he do it for 30%? Daaymond declined. The two met in the middle at 35%.
Final Deal: Daymond John invested $100,000 in TurboPUP for a 35% stake.
Photo: TurboPUP
Shark Tank: TurboPUP Gets Daymond John’s Investment For $100k
Aucun commentaire:
Enregistrer un commentaire