Featured Shark Tank Post
Teddy Needs a Bath on Shark Tank Show
Teddy Bear Cleaning Bag - Season 4 - Episode 414
|Nicole Townend Demonstrates Her Invention|
"Teddy Needs A Bath"
|"Teddy Needs A Bath"|
Gets Major News Coverage On The Today Show
The Teddy Needs A bath product is 20"x30"100% Eco-Friendly
Cotton bag with a large plastic zipper to accommodate Teddy and all his Friends. The cotton bag keeps Teddy nice and safe inside while he takes a bath inside the washing machine. Once he gets a good scrubbing you simply throw him in the dryer and take him for a couple of spins around and around. Take him out, unzip the bag and Teddy will look (and smell) as good as new.
For your little stuffed animals you can get the 10"x15" small bag for only $9.99 or the larger 20"x30" Teddy Bag for only $14.99. Not a bad deal at all especially if it's your kid's favorite snuggling toy. A small price to pay especially if Teddy really does need a bath.
So do you think this product is yet another great fit for QVC? It would seem to fall in that "sweet spot" of a price and clearly is a product that a demonstration would go along way.
After The Shark Tank Show Update
During Nicole's introduction she mentions she is married to Tosh Townend, a Professional Skateboarder, and they have a baby Daughter named Jemmely who was the inspiration behind the invention. Nicole is asking for $50k for a 10% stake in the business valuing it at $500,000.00. She also has published a child's book featuring Teddy getting a bath and helps to convince your little one that maybe theirs does also. The Teddy Needs A Bath Bag cost's $2.95 to produce oversees and retail for $14.99. Sales for the past 6 months were $12k.
Lori Greiner doesn't seem to be buying into the concept which isn't bolding well for my prediction. Townend then shows the Shark's her Scented Dryer Sheet's that also go along with the Teddy line with smells such as cotton candy. Lori REALLY likes that product. All the Sharks agree that the Dryer Sheets scents, Set's this product on a level of it's own. As good as Teddy smelled, the Sharks started dropping like flies. That is until Kevin O'Leary seems to have a deep connection with the Teddy Bear. He offers Nicole $50k for 50% of the business and he also wants 10% royalty. A typical first offer from O'Leary that tests an Entrepreneur's spirit in their company.
Mark Cuban, the last Shark to speak, again, gets right down to business. He thinks Nicole needs more money and offers to give her $100k for a 40% stake in the business. O'Leary now realising that his first offer was a bit ridiculous, now offers Townend $50k for 30% of the business and a 10% royalty for ever.
He then drop's the royalty forever to just until he gets his money back. It's obvious O'Leary was not her choice of Sharks to work with but very intrigued that his is even interested. Nicole turns to Mark Cuban, clearly preferring to work with him instead, boldly counter's Marks offer with $100k for 30% of the Teddy Bear Business and a 10% royalty until he gets his investment back. Mark Cuban gladly accepts the new terms a deal is made.
Nicole Townend successfully walks away with twice the money she was asking for and a billionaire as a new partner. Congratulations Nicole, you made a Very Good Deal.