'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.

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


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