Best of Shark Tank TV
Shark Tank Dude Wipes Business Wants $300K For 10% of The Company - Best of Shark Tank TV
hi sharks my name is Sean Riley and I'm here with my good friends Ryan Meegan
and Jeff come Kowski and we're the guys of dude products hailing from Chicago
Illinois but you can just call us the dudes dude and we're here today seeking
$300,000 in exchange for 10% of our company sharks are you still wiping the
old fashioned way with just toilet paper if so you're a chump and your ass
probably hates you for it but hey what's a dude to do you could try some baby
wipes we're not babies we're dudes so we created the award-winning dude wipes are
the very first wife's Ferb well dudes they're flushable biodegradable of
soothing aloe and he answered every dudes prayers dudes from all walks of
life can use dude wipes for blue-collar dudes to college Bros to business guys
even moms with little smelly dudes I even caught my wife stealing dude wipes
and dude wipes aren't just for taking care of business on the throne
they're also safe for your face pits hands and a combat stank for all dude
regions so sharks which one of you are ready to join the crusade of saving the
world one dude at a time Robert don't go up and try that
now please do Robert listen we will hook you up with the dude wipes yeah there
you go Robert you can take one of our soft packs like dude cologne scent no
it's actually pretty hearty and fresh scents so the one mr. wonderful holding
is a natural health and beauty product that fits me I'm natural and beautiful
for you dudes usually when I go anywhere there's already toilet paper there for
me now I have to carry the dude wipe with me correct don't you get the
difference no what's the difference the difference
that's the compliment to toilet paper
second-to-last wipe see we were using baby wipes in our apartment in Chicago
that's all we got started using baby wipes well we have we work but I'm gonna
tell you something there's a little problem with this the minute I took it
out of the package my finger went right through that it's two franchises Roger
it's too small for my husband six-foot one I mean I feel like twice as we're
having a lot of fun with them let's get serious about the opportunity because
you could prove us all wrong and our skepticism by telling us you have lots
of sales because you put a valuation on this business of three million dollars
if you don't have sales I'm gonna wipe your know what with this so year-to-date
we have three hundred thousand dollars but we're projecting 1.5 million water
this year because we just landed a two to three million dollar contract to go
nationwide with Kroger Wow Kroger is putting you in dude wipes you're going
into Kroger we already tested with them and this is a complete national rollout
in the toilet paper aisle which is the most consumable Iowa
so basically what we're doing is we're rolling out in 1500 to 2,200 stores it's
about a hundred and sixty eight thousand dollars a month what do you sell it for
649 Crowe will be selling that guy for we make about 40% margin in stores and
60% margin online so your cells just 649 what is the babywipes same package
sulfur I just want to do a comparison probably half the price for the same
size so what are you gonna do with my 300 if I give it to you well we're gonna
use that to go get new big-box retailers we have the working capital we have the
money to do Kroger so Jeff is that three hundred thousand sales what's your
marketing spend we spend ten to fifteen percent for every dollar we spend so
we're not making any money yet right well no we are because we have 40% gross
are you paying yourselves anything I live Shawn on the full-time salary to
get the company going and what are the other dudes doing so I'm I'm an
investment banker now I work for my dad's manufacturing company what do you
mean you fetch actually believe it or not luxury mobile restroom trailers and
showers it's in your blood guys look I like what you're doing I
think you'll be successful um I've got two problems I just don't
see me as a wipes the kind of guy I'm sorry
second I think you're underestimated the amount of marketing dollars it's going
to take to really open up into a category I don't think it's a ride that
I can take so for those reasons I'm out appreciate your points thank you
let me tell you what I think I haven't totally paper Isles says they married
him men don't shop for toilet paper for the
most part their wives do so I think I have to sell it to the wife I'm not sure
they're gonna buy in especially with the advanced knowledge that the price of
these dude wipes are exactly double what they paid for the baby wipes also I
punched my fingers through without even sure
I can't shake that out of my head so I wish you luck but they're not for me
enough I love you dudes I like what you're doing but you want $300,000 for
10% why where does that come from I know you're getting into croaker but I mean
basically two to three times your revenue and I understand we're very
revenue guys you know this you're the banker guy they're worth about a million
bucks today you said 300,000 pre-tax about 230,000
after-tax no one's gonna pay more than five times for that
no one's gonna value it even a multiple or an earnings multiple but you three
dudes are gonna run fast I want to come along and run too but the value I see is
300,000 for 25%
because to get to the 3 million value I see risk I wasn't gonna give you any
more than that either that's my offer I'd give you 300,000 for 25% that's the
right price given the challenges ahead it's a fair price actually
dude he's trying to wipe you out Laurie compared you share with you my thoughts
from the female point of view I think the fact that you guys are cleaner dudes
is quite appealing I think your packaging is great it's a very clear
dude white can't be simpler than that in the right section you know just what
it's for sounds like a big offers coming but um I feel I don't agree with the 3
million dollar valuation for that reason I'm out but what I love
what you're doing well I am believing it too by dudes next to me so guys you have
two offers what are you gonna do you like the counter it's $300,000 for 20%
of the company but splitting so $150,000 for 10% of the company by Calvin
$150,000 for 10% of the company by Robert
not changing the value can't do it you know if you get two sharks that's even
more value yeah I was actually thinking if you want two of us I'll go to 30%
yeah you all have the feeling to deal at 25 - sharks are 25 they just said to
sharks at 25 changing I appreciate Roberts greed and I'm endorsing it now
guys 30% we're gonna make this work for you it's very very hard to get two guys
to play ball like this well dudes we'll take the initial offer for 25 let's do
the classic negotiating let's split the middle to 27 and a half 27 and a half
guys were 25 and we got a deal we already we started at 10 so Kevin rabbit
I think the extra two and a half is worth having two guys that tells you
they're not that into it in the first place yes
there's mark you make comments like that you're not trying the deal it's all mark
goes the other way to save your soul and get out of here without these guys the
deal here's the thing here's the thing you guys it should be painful if it's a
great deal and it's hurting you it's a good deal and why would the two and a
half mean anything of these guys they're just being greedy you gotta look out for
my perspective Laura my own equity I'm taking less to get Kevin involved I see
value of having multiple guys it's 27 and a half everybody has an opinion
once they're out there fighting over two and a half percent what do you wanna do
all you want to wait think of the Sharks you got a bully and
a pretty boy oh there's so much talk from people but I think know what what
do you guys want to do you have one decision to make and then once you've
made it it's over
I'll do it Klump 300k 25
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