The Bear & The Rat - Cool Treats For Dogs
Matt & Meg Meyer came into The Shark Tank looking for $125k for a 20% stake in the cool treats valuing their business at $625k. Everyone knows those Sharks do not like high valuations unless you have a lot to back it up. It's a mistake many entrepreneurs have made in past episodes, and yet it still seems to happen again and again on almost every show. The Sharks not only bring the much needed capital to the table but more importantly they bring the contacts and the ability to get your idea/product to the masses in record time. Some contestants IMO would be way better off just to ask for a dollar for a piece of the company just to get the Sharks into the deal.
The Meyer's have had some success so far regionally around Denver, Colorado with sales totaling $30k. There is clearly a market for doggy treats and some folks are willing to pay a premium to spoil their furry friends every once and awhile.
With names of the treats such as "Bacon Peanut Barker" and "Banana Peanut Barker" how could any dog resist?
Matt was also quick to point out that all The Bear & The Rat Treats are human consumable which you can share with your pet if you'd like. Meg then tries to feed the Sharks some ice cream made for dogs which might not of been a very good idea. The entire Shark Tank all kind of got a sour look on their faces.
In the end it all came back to the valuation and the sales so far generated. The two just did not add up at this point and time and the Sharks fell off one by one until there was just a Bear and a Rat (and the Meyer's) standing.
It's a Great Idea that Pet Co. maybe picking up in the future for their pet shops which might be the best deal for this very unique product for mass distribution. In the mean time you can order your frozen doggy treats from their website that almost crashed from so much traffic during the airing of the Shark Tank Show. That's always a good sign for a successful future!
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