Marz Spray on Shark Tank
|Father/Son Team Keith and Brandon Marz|
on the Shark Tank Show
If you don't like swallowing pills then, the Marz Spray's may be just what you need. Brandon and Keith Marz, the Father/Son business partners, came into the Shark Tank with a host of oral spray products for vitamins, sleeping, energy boost and even one that helps in weight loss. I must say just the convenience of a few sprays of vitamin's conveniently placed at the sink for instance, sounds a whole lot easier (and faster) than opening up a traditional vitamin jar. I clearly would use it more often which could only be a good thing.
Keith and Brandon came into the Shark Tank looking for a $200,000.00 investment in the vitamin spray business. They were willing to give up 10% of the equity valuing the company at $2 million at the start of negotiations. Brandon starts out stating that over 100 million people in the United States alone have trouble swallowing vitamins and pills.
Keith also states some pills you may only absorb approx. 10 to 20% of the vitamins. The Marz C Spray, however, has an equivalent of over 114 oranges and jam packed full of vitamin C that you can easily absorb in spray form.
The presentation seemed to be going good until guess who happened to show up right in the middle? Good ole T-Mobile sneaks in another commercial when Brandon whips out his phone to play the infomercial on a large screen. I'm not sure what the deal is with T-Mobile, but I sure hope the Shark Tank is making them pay big time for those unscripted commercials.
Mark Cuban who has only made a few not so nice jesters thus far, finally opens up and says "so you know how stupid this all sounds, don't you"? He goes on to say "you're saying everyone that delivers anything via pill is so stupid they can't figure out that there is this big market for alternative deliveries". Keith defends the Mars Spray concept like defending one of his kids when he says "there is no major market leader, and they are poised to be that leader". Robert Herjevic wants to know what they put in Marks spray to of made him so irritable and in a not so good mood. I think Cuban may wish he had heard all details before he jumped all over this very interesting idea.
They brought the Marz Spray to the largest vitamin supplement conference in the world and landed an appointment with Nature Made, was interested in a licensing agreement. Brandon and Keith also secured five pending orders from other interested parties worth over a million dollars in initial orders. Even with such an early success the Sharks started dropping out until there was only two.
Lori Greiner, who seemed like a perfect fit from the beginning, does indeed like the Marz Spray and makes an offer of $200k for 30% of the oral spray business. This offer is also contingent on the deal with Nature Made being completed. Mr. Wonderful smelling money in the air tries to come in on Lori's offer and suggests they offer the Marz's a combined $250k but for 40% stake in the business.
Greiner simply says, "I'd rather do it alone" and stops O'Leary right in his tracks. He's forced to make his own offer all by himself which statistically he does not do very often and says "I am forced to do this and I will give you $200k for only 25% of the spray Business". Kevin then tells Lori "do not screw with Mr. Wonderful". Good job Kevin, you just talked your way out of 5% of a multi-million dollar business. Lori clearly seeing a Hero and not a Zero, decides to match O'Leary's deal and make it more competitive before he snags this from under her.
Kevin reminds Brandon and Keith that he just got Lori to drop her offer by 5%, and he thinks they should just give it to him for free. Very Funny! Brandon comes up with a very creative idea and asks Lori if she would give them a redemption to buy back 1/2 her stock at three times the initial investment. She quickly counters "you believe in it that much then give me four times my money". They end up agreeing to Lori's terms and accept the deal.
Marz Spray after the Shark Tank Update
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