How Do I Get On The Shark Tank?
Hard facts you need to consider before you apply to get on the ABC'S "The Shark Tank".that the Walt Disney Internet Group is covered for anything imaginable. The "Terms of Use" that you must agree to before they will even consider you is located on Disney's Corporate Website. Baring hiring a lawyer to explain these rather long terms to you, the short side is THEY MAY TERMINATE YOUR ACCESS OR CHANGE OR DELETE CONTENT OR FEATURES IN ANY WAY, AT ANY TIME AND FOR ANY REASON OR NO REASON. Bottom Line, from a legal stand point if something should happen, a deal went South or they decide not to air your product or service, your basically S.O.L.
E-Mail Submission To The "Shark Tank"
Applying to get on the Shark Tank is a rather easy process. However, how we'll you plan your first audition for the Shark Tank producer's will greatly increase your chances of getting on the show. Shark Tank's email address is SharkTankCasting@yahoo.com You will need to include your name, age, a photo of yourself, your contact information and a brief non-confidential description of your business product or service. At this point it's not really want you value your business idea at but more on how innovative your product is. Does your idea appeal to the masses? Whats the price point and how much is the net income? Past sales? It's amazing how many people go on to the Shark Tank with very little sales (if any) and give their business idea an over inflated market value. This only gives the Sharks a bad taste right from the get go. If it's a great idea but few sales to back it up, expect to get an offer from the Sharks where they want a large percentage of the business.
Thing's You Need To Consider If The Shark Tank Is A Good Fit For Your Business
- Did you know if you make a deal with the Sharks you are also obligated "under contract" to give the producers of the show either an additional 5% stake in your business or a 2% royalty fee for the life of the company. You must keep this in mind when you are negotiating what the Sharks are asking for. If the Sharks are asking for 44 1/2% of your business (or greater) and you agree, you just gave up controlling interest in your company if the Sharks and producers combine their shares in your business.
- I Made a deal with the Sharks. How long does it take to actually get the money? If you happened to try and read the two dozen page contract you signed to get on the show, you will see they have covered all the bases. The Sharks have a full 90 days to do their due diligence to verify everything you said about your business/idea. If you said you have an exclusive patent of a particular product, you can bet they will have a team of experts verifying this. Same goes with sales, marketing and even your bank statements. Anything that doesn't add up gives the Sharks the legal right to back out of the deal or opens it back up for further negotiations.
-I got on the Shark Tank. I'm so excited I want to tell my Friends what kind of deal I made with the Sharks. Just like all reality shows you are obligated to keep your quiet until it airs on T.V. How do they make sure you don't talk to anyone? Not even your spouse? In that contract you agreed that you will not talk or will be subject to a $5 Million Dollar Fine.
- I wasn't able to strike a deal with the Sharks during the show but was approached later with another offer. Can I still make a deal with one of the Sharks after the show?
Yes. But you are still under obligation to give the Shark Tank Show a piece of the company/product for a full year after it airs on ABC.
-You hear from the producers that you got a spot on an upcoming show. You spend countless hours rehearsing your sales pitch to the Sharks. The producers ask you to send in a video of your sales pitch which you gladly do. Weeks go by as the anticipation builds. They finally give you a film date when they will be shooting the episode featuring your company. Now your really excited and that's all you can even think about. The dates getting really close when you get another phone call from the producers.
They just moved you back to a later episode in the season. It won't be for another two months before the filming. You have no choice but to bite your tongue and keep your anxiety in check. You keep working harder on your sales pitch trying to convince yourself that this will all pay off in the end for all the hoops that the Shark Tank producers are putting you through. Your date with destiny is almost here. You finally get another call from the producers expecting them to tell you to pack your bags.
Instead they tell you they now have too many slots for that production and you were eliminated from going on the show. OUCH- talk about a financial roller coaster that went flying off the tracks. You MUST BE willing to go through all of this and still not end up on the Shark Tank.
This is actually a true story. Really one that everyone that wants to Get on the Shark Tank needs to read. If your not ready for this type of rejection after being lead on for so long it could very we'll destroy your entrepreneurial spirit.
Fortunately for Jack Scalfani of TheBestSauces.com is no quitter. He may of not made it on the Sharktank (yet) but this is One Contestant I Will Always Remember for how close you can go and still not get on the show. Even if Jack never gets on the Shark Tank Show he has such a unique product that would do very we'll if he used a Crowd Funding Website to get fans around the world.
Shark Tank Success Goes #1 In Prime Time
Visit ABC Shark Tank Casting Website for more information.
Almost every day a different person tells me I need to be on Shark Tank. I always respond with a "I know, wouldn't that be awesome?!" but in reality I believe that chances of even getting the emails I send in read are slim -- I feel like you have to know someone or get very lucky. My product is unique and definitely different from anything else that has been on Shark Tank -- I don't know what exactly they are looking for, but I continue to try and reach out in hopes of finding the right connection.
ReplyDeleteVicki www.flipzles.com
just looked at your product, you absolutely should try to contact Shark Tank. It only takes about 5 minutes to send the email, what's holding you back? They approve new children's items often. So you don't know anyone, so you don't feel lucky- still you're not losing anything by sending the email. If I was an investor, I'd be all over this.
DeleteI'm om to bigger and better thangs,how do I get on to talk about XS Energy Drinks?I'm on youtube(Sean Felder XS Energy Drinks)
ReplyDeleteXS energy drinks are sold and distributed by and through Amway Company. What kind of a scam are you trying to pull?
DeleteMagnificent website. Lots of helpful information here.
ReplyDeleteI am sending it to some buddies ans additionally sharing in delicious.
And naturally, thanks for your sweat!
Have a look at my page - actual car dealer invoice prices
hi I do not want to be on your show.. I just wanted to comment in the bibs that Susie and Steve Taylor was showing you. Too bad they could not make them for seniors in the nursing homes.. We could certainly use them there.
ReplyDeleteI believe the bibs that Susie and Steve have also come in smock sizes.... I actually am dropshipping their products and may add the smock size to my ebay store, you can see them at http://stores.ebay.com/carols-one-stop-children-shop-plus
ReplyDeleteLove the show... I too am constantly being asked by people "why don't you go on the Shark Tank". It seems tempting but seeing how they beat up valuations on even proprietary (patented) products and often go for a large share of ownership for lower dollars, I just don't think I could do it. I know there are pros and cons to the arrangements but with our growing success at this point, I just can't see it being beneficial. Besides, my product is primarily geared toward babies and toddlers so the limited demographic makes it a tougher sell in that environment, imo.
ReplyDeletePete Draganic
reflo.net
You tend to watch the show but you don't see the real hustle behind it...
ReplyDeleteI too love the show, it gives hope to a person like myself who has big dreams that they just might come true. I also have lady's telling me at every craft show that I should put in a application to the Tank my response, I have still waiting.
ReplyDeleteI also love this show !!!! it gives me hope to know that even the regular person has the chance to succeed if they keep moving forward.
ReplyDeleteThe big scam here is that the show itself is a business that creates it's own vast portfolio by acquiring small parts of these companies without investing a dime. I almost think in many scenarios, you would be better off going on the show and completely overvaluing your company so you don't make a deal (and therefore don't give up any equity/royalty to producers) and get the publicity anyway. (This is assuming they don't give up anything if they don't strike a deal)
ReplyDeleteScam seems like a really big word when they are giving you access to over 6 million people in a single night. If it was not for the shark tank some of these products would not even exist.
DeleteAs far as overvaluing your company so you intentionally do not makes a deal you may want to re-read the article above that states "It Does Not Matter". All companies on the show now have the shark tank producers as an investor irregardless if a shark gets involved or not. Depending on the product or service it will range between 2-5% which is very cheap considering that business will forever be tied to the best show on television.
Strategic partnerships is what the show is ALL ABOUT!
We're struggling to get exposure in our neighborhood. I would give 5% of my company to get exposure in 36 countries.
DeleteDo you feel your chances are better at an open casting vs. email? My company is call Greenie Tots. We are the first company to make frozen all-natural meals for kids that are meat-free, but kids can't tell. We base all meals on traditional kids favorites and include meals like Cheeseburger Quesadillas with Sweet Potato Fries, & Pasta & Spinach Marinara with Meat-style Grounds. People always say we are perfect for Shark Tank. I appreciate you thoughts on live casting vs email. Our website is
ReplyDeletewww.greenietots.com
Like some of you on here....I hear it all the time, why haven't you gone on shark tank? I've emailed as well and still haven't gotten on. I was wondering the same thing as greenietots...is it better to just show up for an open casting? Our product is a baby product too...visit us at www.babyheadup.com. It's an innovative and mom invented product!
ReplyDeleteKevin is getting too predictable and boring
ReplyDeleteI was wanting to know about the first audition. I plan to be in line for the open auditions in Dallas on Saturday. Do I need to bring my whole setup or just a sample of what I sale? Pretty much everything I've been hearing is what to expect once you get one the show. They say we have one minute to pitch our product, that doesn't give much time for display. Help here. Our website is www.mysleev.com our product in made in America by the blind and visually impaired and to their correct their manufacturing standards are one of the highest in the nation.
ReplyDeleteWell that was fun. Open casting for Shark Tank. The time spent in line allowed all of us in line to enjoy learning about one another's product. We talked about what is working in the marketing arena. I spent just over a minute pitching. We were asked a lot of questions and told that they will contact us if interested before we went in. This was a blanket statement. One man said he had been there the year before and they said it would be a week or two before they got back with anyone. It was truly a good experience I'm glad I had. Learned a lot and met a lot of fun and innovating people.
ReplyDeleteI received a call from Shark Tank and they told me to make a video and send it to them by Monday. Does anybody know exactly what they are looking for? I appreciate any input. MJ
ReplyDeleteSo what transpired after your video submission?
DeleteYour presentation. Just imagine you are there and film yourself giving your presentation.
ReplyDeleteLife isn't about hope and dreams. Stay your course. As Cuban said once in the Documentary "The Men Who Built America" if you sell dog food, you need to eat the dog food" if the Tank should call me again, great! But this engine build was developed to run on the American Dream
ReplyDeleteWe sent our application/video in just about a week ago. With all of the preparation and anxiety we're going through, we're perfectly fine with the chance that we may not even get a call back.
ReplyDeletewww.handable.com