Back 9 Dips on the Shark Tank Season 4 - Episode 404
Back 9 Dips - David & Nique Mealey was looking for a $150k investment in exchange for a 15% stake in their company. Back9Dips is basically taking chicken wings and mixing them in with the dip. Mm, I Love It Already. Daymond John ask's "so this is basically a chicken Slurpee"?
Kevin O'Leary keeps picturing a chicken going into a blender and getting churned into a dip. He laughs so hard he starts to cry. This throws off the Mealey's from their presentation as it doesn't seem quite that funny, atleast not to them anyway. Lori Greiner jumps in and compliments them that it is really Delicious. Robert wants to know about the business. They started out as a B-B-Q business which the dips became a popular favorite. The sales are close to $400k within the last two years and just landed a 60 store test with a large grocery store. The store required a weekly sales goal which David says they are selling on a daily basis.
Can Back 9 Dips Close The Deal with the Sharks?
Lori still really likes the product but ultimately She's Out. One by one the Sharks start going out. It's not looking very good that any deal is going to get done. It's Daymonds turn in which he is kind of on the fence on making an offer. Geiner cant get seem to forget how good Back 9 dips taste and asks Daymond if She comes back in will He go in with Her for the $150k for 25% of the business. Daymond John actually starts getting emotional as to how similar the Mealey Family is to where he was before L.L. Cool J gave him a shot with FUBU. Lori cant take it any more and says "Daymond lets give them a shot". Nique starts to cry with emotion as she knows they are discussing Her Family's financial future right in front of them. Daymond is not sure He can bring enough to the deal to make it a sold business decision. Lori says we will figure it out together and make it a success. Daymond John didn't get to where he's at by making emotional business decisions but by practical ones where he can honor his part in the business. He's Out! Robert steps in and says "we'll I think in life you sometimes just need a chance" (so true in so many ways) and I would be happy to go in with you Lori for the $150k.
DEAL - Lori Greiner & Robert Herjavec buy into Back 9 Dips for $150k and 25% of the company from David & Nique Mealey.
Side Note: It was obvious that Daymond John was touched by this story. Maybe a little emotionally clouded to make a business decision which he knew would of been wrong. In the end he did the right thing by not offering them any money but by offering something much more valuable in the long run.
Back 9 will definitely be a success especially in the short run and will continue to grow into a National Brand.. Why am I so sure? Because with any good reality show when you add emotions that really TOUCH peoples lives personally, the audience will remember and WILL at least try the Brand.(which is half the battle for any new product) I believe they call it "The Shark Tank Effect" which will ultimately make the Mealeys millionaires. You read it on the Shark Tank Success Blog First :)
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