Wine Balloon On The Shark Tank Show
Air Cork Wine Balloon - Season 3 - Episode 304
|Eric Corti Inventoer of the|
Wine Balloon / Air Cork
Lori Greiner was interested in getting this product on her QVC Show but was more interested in buying the entire company and the patent pending on the wine balloon. Lori offers Cori $500,000.00 for the entire business. Mark Cuban also sees the potential success of the wine cork and wants to go in on Lori's deal. He'll even up the ante another $100k and make it an even $600k for the wine cork business that's 15 times the money Eric was originally looking for.
The offer by the Sharks Stunned Eric
After lot's of indecisiveness, Eric almost seems ready to accept Lori and Marks offer, but he wants a 2% royalty on any future profits. That seems reasonable to me, but it's enough for Mark Cuban to withdrawal his offer. Mark comes back into the negotiations after the other Sharks are out, but this time his offer drops $200k down to $400k and still no royalty. Incredibly Eric accepts the offer even though he just lost $200,000.00 in a matter of minutes.
Wine Cork after the Shark Tank UpdateWhatever Eric Corti was thinking the Shark Tank might be like before he approached the Sharks, without a doubt, the reality was much different than he could of ever imagined. Fortunately for him, but not so fortunate for the Sharks, Eric decided to back out of the deal and pursue marketing the Wine Balloon/ Air Cork on his own. This is a very valuable lesson for all future Shark Tank Contestants. Would you be willing to sell your entire business and/or product that you have worked hard to get it to that point?
Even though the deal fell apart Eric remained in control of the Wine Balloon's business and soon was featured on another Reality TV Show The Kitchen Inventors from the Food Network Channel. The two hosts of the show, Steve Greenberg and Patrick Raymond, absolutely loved the Wine Balloon and agreed to partner with Coti. Steve and Patrick are the ones that came up with the wine balloons new name, The Air Cork, as well as the re-packaging to make it more appealing on the store shelves.
The Air Cork's gone on to become wildly successful since being featured on two reality shows in such a short amount of time. Several large wineries and wine stores continue to place bulk orders for the Wine Corks unique ability to preserve opened wine no matter how much is left in the bottle.
Order Air Cork The Wine Preserver