Ice Chips make a Sweet Deal on Shark Tank

Beverly Vines-Haines and Charlotte Clary walked into Shark Tank to pitch Ice Chips Candy. They were asking for $250,000 for 15% equity in their company. Both ladies are grandmothers and have 37 grandchildren between them.

They are a family owned business and were seeking the money to expand into full manufacturing. In 2012 alone they have sold $342,000 and expect the final figure for the year to be $700,000 or more. Last year’s sales were $360,000.

Barbara offered $125k for 33% of the business. Kevin offered $125,000 for 20% and wanted to partner with Barbara. Barbara lowered her deal to 20% but won’t partner with Kevin. Daymond jumped in for $250,000 for 30%. Mark then offered to partner with Barbara. Kevin offered a new deal to partner with Daymond for 35% equity. Daymond then changed his offer to $250k for 25%. The sharks were circling!

In the end, they decided to partner with Barbara and Mark. Two Sharks are always better than one. If you or anyone you know has a new invention idea and needs help, please contact us at New Product Consulting.

Advertisements
This entry was posted in Uncategorized and tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , . Bookmark the permalink.

One Response to Ice Chips make a Sweet Deal on Shark Tank

  1. Pingback: Pitch Tank and Kevin Harrington are going to Orlando! | New Product Consulting

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s