Chocomize: A Lesson of Loyalty
None of the Sharks were really interested in investing in Chocomize for a whole slew of reasons. Barbara didn't like the packaging and felt that the customization element makes the business too expensive. Robert and Lori felt that the market was just too small, and Mark didn't see any differentiating factors in this particular business that makes it superior than any rising competitors. Kevin also wasn't interested in investing, but he did make an interesting offer to Joe, asking him to leave his current partner and company to start a new customized chocolate business with Mr. Wonderful in his Boston offices, for $500,000 and a 25% equity stake in the company. Dauenhauer declined Kevin's offer, showing loyalty to his current partner and brand, and walked back out of the Tank eager to prove him wrong.
stronger than such an offer from a Shark. The question is, how any entrepreneurs would do the same? If you were on Shark Tank, and one of the Sharks made you an offer to start a brand new company with them, would you accept the deal or stay true to your current partners. The chances of reaching success together with a Shark (with deep pockets and lots of knowledge) is undoubtedly higher than the chances of making it with your average businessman. So do you walk out of the Tank empty-handed, or do you take the once in a lifetime opportunity and accept the offer from Kevin O'Leary? Answer in the comments below!