SHARK TANK - EPISODE 301
ENTREPRENEUR: Travis Perry
PITCH: Chord Buddy
ASKING FOR: $125k for a 10% stake
BEST PART OF THE PITCH: Travis has a product that was inspired by his daughter. It allows you to play the guitar instantly. It's a two-month learning system with tabs on the guitar that teach you which chords to play. Travis gets Robert to strum a tune to prove his point. He had $150,000 sales in one month. Like we said earlier, Travis invented this product for his daughter because she wanted to play. What a good dad. He has a half million dollars in sales and has purchase orders for more. He has a deal with Sam's Club and wants to manufacture the product in the U.S.
DO THE SHARKS BITE? Kevin doesn't like the evaluation of the product, but believes it'll get its place in the retail world. He'll give him $125k for a 20% stake and personally endorse it. Daymond will match that offer and provide a free celebrity endorsement. Robert also offers $125k for 20%. Mark knows Travis is a family man who may not be able to go on the road to promote the product. He's out. Barbara offers $175k for 20% with $50k used for an infomercial.
THE RESULT: Travis has four rock solid offers on the table. He asks wannabe rock star Robert to sweeten his offer, so he will add 50k for an infomercial if they decide to go down that road. Rock on! Travis makes the deal with Robert. The two men strum their way out of the tank. Travis is greeted on the outside with big hugs from his family. The fact that he scored a life-changing deal had to be music to their ears.