Top 3 Weirdest Products In The Tank | Shark Tank US | Shark Tank Global | Summary and Q&A

TL;DR

Entrepreneurs pitch their businesses on Shark Tank, including a cat drawing service, innovative pet products, and a brain performance device.

Key Insights

• 💼 The entrepreneur is seeking a $10,000 investment in exchange for 25% of their company, which focuses on drawing personalized cat illustrations.
• 💰 The entrepreneur claims that their cat drawings are highly profitable, with a profit margin of 93.2% per drawing.
• 🌐 The entrepreneur plans to leverage their skills as a web developer to build out their e-commerce platform and potentially expand into greeting cards.
• 💡 The entrepreneur believes that their ideas are highly creative and valuable, and that partnering with experienced business professionals can help them realize their potential.
• 🐱 Another company presents a line of innovative pet products, including an interactive cat toy and a brush that allows humans to mimic the grooming behavior of cats.
• 📈 The entrepreneurs behind the pet products have made significant sales, with over $250,000 in sales of the toy and $52,000 in sales of the brush.
• 💵 The entrepreneurs are seeking a valuation of over $2 million, believing that their sales will continue to double each year.
• 🔋 The entrepreneurs behind a device called "Lifted" pitch a wearable neurostimulation device that supposedly enhances focus, attention, and memory. The sharks are skeptical of the device's effectiveness and pass on investing.

Transcript

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Questions & Answers

Q: How does Steve's business, "I Want to Draw a Cat for You," generate revenue?

Steve charges customers $9.95 for personalized cat drawings, with a profit margin of 93.2%. He has sold over 1,200 cat drawings in a year.

Q: How does PBX Pet Design plan to expand its product offerings?

PBX Pet Design has five more pet product designs in the pipeline and expects them to be equally popular. They aim to create a range of products to enhance the relationship between owners and their cats.

Q: Is Lifted Neurostimulation safe to use?

Lifted Neurostimulation utilizes transcranial direct current stimulation (tDCS), a process backed by 5,000 published studies. It is considered safe when used as instructed and does not have any known medical benefits.

Q: How many units of Lifted Neurostimulation have been sold?

Allison and Ken have sold 1,240 units of Lifted Neurostimulation, generating $126,000 in sales. Each unit is sold for $149.

Q: How does Steve's business, "I Want to Draw a Cat for You," generate revenue?

Steve charges customers $9.95 for personalized cat drawings, with a profit margin of 93.2%. He has sold over 1,200 cat drawings in a year.

Summary & Key Takeaways

• Entrepreneur Steve pitches his business, "I Want to Draw a Cat for You," where he draws personalized cat pictures for customers.

• Tara and Jason present their company, PBX Pet Design, which creates innovative pet products like an intelligent cat toy and a brush for cat owners to mimic grooming.

• Allison and Ken introduce Lifted Neurostimulation, a device that uses mild electric current to stimulate the brain and improve focus, attention, and memory.