'Shark Tank': Why Mark Cuban called this business that sells beard ornaments 'un-freaking-believable'

CNBC 1 week ago

Some unusual businesses have gotten the investors on ABC's "Shark Tank" to open up their wallets.

Kevin O'Leary invested in Potato Parcel, for example, a business that mails out potatoes with custom messages written on them. And Mark Cuban invested in a personalized cat-drawing business, I Want to Draw a Cat for You.

On Sunday's episode of "Shark Tank," the Sharks circled around another unique company, one that sells Christmas ornaments — for beards.

Beardaments founder Jason McOmber, who entered the Tank asking for $150,000 for 10% of the business, came up with the idea at a Christmas party.

"I decided to hook some stuff in my beard after a couple drinks," McOmber said in the Tank. "Everyone loved it and thought it was funny. So that next year, we started to sell it."

McOmber said started the business with about $1,500 worth of Beardaments.

"I listed them on Etsy, eBay, a couple places online, and sold out of those thousand packs in a couple weeks," he told the Sharks.

"In our first year, we did $80,000 in sales. The second year was about $155,000 in sales and last year was $462,000 in sales. I'm projecting to do $600,000 to $700,000 in sales this year."

Beardaments' numbers impressed the Sharks.

Cuban called it "U-F-B: un-freaking-believable."

"You've got to be kidding," Barbara Corcoran said.

Still, the Sharks did not see how they could add value to the company or make any money.

"Jason, you're crushing it. This is the ultimate U-F-B," Cuban said. "This proves that even the corniest ideas can make money if implemented correctly. I really think that you don't need us, as much as I hate to say that.

"You're crushing it, just put that money in your pocket. This would be a dream for most people. I just don't see how it's investable for me in a way that'd work for both of us," he said.

Every Shark agreed with Cuban and passed.

"If I give you $150,000, how do I get it back? So crazy," O'Leary said. "It kind of reminds me of my Potato Parcel deal. Everyone thought it was a joke, but the guy's making a fortune."

But McOmber didn't give up so easily.

"I like money as much as you do, Kevin, and we'll figure out how to make more profit," he said.

In the end, O'Leary then offered McOmber $150,000, but for a 25% stake, and the Beardaments founder accepted.

See also:

Disclosure: CNBC owns the exclusive off-network cable rights to "Shark Tank."

Source link
Read also:
CNBC › 1 month ago
Billionaire Mark Cuban was sold on Eterneva's diamond business, but not every Shark was happy that the company made it onto "Shark Tank."
New York Post › Entertainment › 2 weeks ago
Mark Cuban has seen hundreds of hopeful entrepreneurs over the years on ABC’s “Shark Tank,” and if he’s not interested in a pitch, he usually replies with a polite “I’m out.” But over the past couple of seasons, Cuban has been highly...
Forbes › 0 month ago
Every week you find Mark Cuban on Shark Tank investing heavily in small businesses and startups. Here's why his advice to entrepreneurs is hypocritical.
Business Insider › Lifestyle › 1 month ago
A good beard trimmer should be precise, versatile, and safe and easy to use. Of all the beard trimmers we researched, our favorites are from Philips Norelco and Wahl because they tick off all the requirements for a great beard trimmer. The best beard...
CNBC › 1 month ago
Billionaire Mark Cuban has shown interest in a relatively new market: vegan food products. And in episode four of the 11th season of "Shark Tank," vegan pork rinds company Snacklins caught the attention of many of the Sharks.
CNBC › 0 month ago
In the past, billionaire Mark Cuban has said his least favorite pitches on "Shark Tank" include the presence of two things: kids and animals. Here's why he decided to invest in Dog Threads.
ABC News › 2 months ago
"Shark Tank" stars Mark Cuban and Robert Herjavec talk to "GMA" about what they look for in companies and reflect on spending eight years together.
CNBC › 3 weeks ago
"I'll be the poster-child for it," Mark Cuban said of Mrs. Goldfarb's Unreal Deli Corned Beef on Sunday's episode of "Shark Tank" on ABC. "I don't mess around."
CNBC › 1 month ago
"I've golfed once in my life," billionaire Mark Cuban said in 2018. But that didn't stop Cuban from investing six figures in a company that can turn any shoes — "thousand dollar sneakers, flip-flops, and even cowboy boots," according to the founders...
Business Insider › Lifestyle › 3 weeks ago
If you gift a product that has been featured on the show "Shark Tank," then you know it'll be both creative and practical. Games, kitchen tools, skin-care products, and food are all thoughtful gifts you can give to the "Shark Tank" fan in your life. If...
Sign In

Sign in to follow sources and tags you love, and get personalized stories.

Continue with Google