I have been watching shark tank a lot! I LOVE watching it! If you don't know what shark tank is, it's a show on YouTube with five people called sharks since they get lots of deals from people. And sharks ( which are the people) are super rich. It has nothing to do with the animal sharks, by the way. So let's say somebody with a good business walks into the room where the sharks are, and the person says, I want 50,000 for 5% of my company. And then, the sharks discuss it with the other sharks and tell the business owner how much they are making, how much they are selling each one, etc. And after they ask questions and do all of that, the owner may get a deal. But each person who comes into the room asking for this amount of money or this amount of percent, it's a lot of fun watching it! And I also learn from it too!
Each of the sharks that are usually there because sometimes they switch, and other sharks come in. But the sharks who are usually there, the names of them are Mark, Lori, Kevin, Robert, and Daymond. I only know one of the sharks' last names, Mark Cuban. And Mark Cuban is the richest of all the other sharks. I don't know who is my favorite shark yet.
It won't let me put the link in, so I can't put the video in. Sorry! But you could probably just search it up on Youtube.
Ok, this guy with a business called Scrub Daddy is asking $100k for 10% of his company. I think the percentage is too low, but you always have to start low, of course, because the Sharks will be asking for more. And I think it works well! And I want one now! He wants the $100k for getting more equipment to make them and is trying to get them into many stores. He is selling it for $2.80, and the cost to make one is about a dollar. That is a good price even though it's about three times the cost! It works well because, in the video, he showed the sharks how it could scrub off a lot of dirt and rust from the pans and not scratch them. Kevin, (who is one of the sharks ) is saying that it is super expensive. But I don't think so! It can seriously scrub! Robert (also a shark ) says that he can't see it being profitable and that he is out. When the sharks say they are out, that means they don't want to invest in the business.
So Robert just said he is out. There are four sharks left. Mark said that you are doing great, but when you said you have been on QBC many times, people who are completely relying on QBC, it turns into a disaster, so for those reasons, I am out. Now three sharks are left, Lori, Kevin, and Daymon left. Kevin gives him an offer! He offers $100k but for 50% of his company. I think that is way too much to offer. Then Daymon offers him a deal! He offers $50k for 15%, but only if you can raise the rest from Lori and if she wants to do business with me. I think that might be a good deal, but Lori says, " No offense, Daymon, " but I don't need you, and my offer is $100k for 30%. Then Kevin changes his offer and says how about I give you $100k for a royalty of 50 cents per unit until 100k is repaid. But then again, Daymon changes his offer to $150k for 25%. But AGAIN, Lori changed her offer and asked for $100k but for 25%. So now, after they changed their offers, there are three. Which one is he going to take?
Lori's offer is $100k for 25%.yalty of 50 cents per unit until $100k is paid back.
Daymond's offer is $150k for 25%.
Ok, Lori changed her mind AGAIN! And matched the Daymonds deal! Then Daymond changed his mind too! He said $175k for %25. Once again, Lori changed her offer and said $275k for 25%. And Daymond said he couldn't match that anymore, so he's out. So now it's obvious who to pick! Lori is the deal I would so take. Then the guy asked if Lori would go down on the percentage and go down to 20% instead of 25%. She said yes, she will! Wow! Even if she hadn't said yes to going down to 25%, I would soooo take that deal! And in the end, he made Lori's offer! I think he did really well!