@ Scrub Daddy

What an amazing job! Aaron Krause is what I consider a model presenter for all future entrepreneurs to come onto Shark Tank or pitch in front of any investors anywhere. As Daymond John remarked, "I have never witnessed a live infomercial before".

The Scrub Daddy walked into the room, explained, demonstrated, and illustrated the usage of the product extremely well. He knew his numbers, showed his passion and knowledge, relayed his clear vision, and was respectful to the Sharks. There's not much more you can ask for.

So let's talk a bit about the product. Judging a book by its cover, the Scrub Daddy is a yellow sponge with a smiley face on it. But that's not all it is. It reacts differently when placed in hot and cold water, as its texture changes to soft and hard, respectfully. The eyes can be used to put finger into to grip it better, and the mouth can be used to clean both sides of cutlery and utensils simultaneously. Furthermore, as demonstrated on Shark Tank, the sponge is easily washable. On the business side of things, the Scrub Daddy is in a bunch of stores and has been on QVC three times already (by now more), each time selling more and more units. What went on in the Shark Tank was rather interesting and fairly uncommon: A bidding war. Cuban and Herjavec weren't interested, but Kevin O'Leary, Lori Greiner, and Daymond John sure were. Without going into too much detail, Kevin's was interested in a royalty type deal in which the royalty would decrease after he got his investment back. Daymond and Lori though went head to head each one outbidding the other until Lori reached $200,000 for 25% of the company, which was then bargained down to 20% rather quickly. Lori assured Krause that she would bring it into all the retail stores across America, as well as make him a millionaire within a year. There is no doubt in my mind that between the two of them this will come to fruition, the question though is how soon. If all goes well, I'm giving it 8 months before sales reach a million. Overall Performance: 9.5. Job well done!!
Jeff HopkinsComment