‘Beyond The Tank’ Preview: Robert Herjavec ‘Hates’ This Idea From Tipsy Elves
Robert Herjavec has often called Tipsy Elves his most successful Shark Tank investment. The company pitched the sharks in Season 5, and Herjavec invested $100,000 for 10 percent. Tipsy Elves, which started as a seasonal business selling ugly Christmas sweaters, came into Shark Tank with $600,000 in sales. Herjavec told Business Insider last October they were now on track to sell $12 million.
Tipsy Elves is featured on the premiere episode of Beyond the Tank Friday, and it seems one idea floated by the entrepreneurs left Herjavec cold. The preview clip provided to USA Today shows the Tipsy Elves guys showing up at Robert’s office to show off some new product lines. Although the Canada and USA-themed sweaters meet with approval, a new line of sweaters at a reduced price point does not.
As Herjavec says in the clip, “I hate it.” Have a look below.
Whatever the controversy, the discussion apparently turned fruitful for Tipsy Elves. Herjavec tweeted a picture that recalled the meeting and the company responded with a nod to its value.
Throwing back to my visit with Tipsy Elves in Q1 – see the meeting tomorrow on @BeyondTheTankTV @TipsyElves pic.twitter.com/Wj3VHXrdCr
— Robert Herjavec (@robertherjavec) April 30, 2015
Such an invaluable meeting! Can’t wait to relive it tomorrow. https://t.co/QlVHivI2Pt
— Tipsy Elves (@TipsyElves) April 30, 2015
Herjavec once gave a simple reason for investing in Tipsy Elves: “[T]hey had sales, and they’re great guys.” They were also passionate about running the business.
Once Herjavec came on as an investor, however, he gave the proprietors some advice to help the company grow. He recommended expanding beyond seasonal offerings and promoting online sales. He has also been the voice of the business, promoting it more than any other Shark Tank investment.
The synopsis for Friday’s Beyond the Tank teases that the men from Tipsy Elves are tasked with decisions about the business. They must decide how to brand their offerings. One of the co-founders, Nick Morton, has to choose whether or not he will stay with his dental practice.
Other featured Shark Tank entrepreneurs on Beyond the Tank Friday include Carter Kostler, who failed to get a deal for his fruit-infusion water bottle. Last fall, Kostler, still a teenager when he pitched the sharks, revealed in a Reddit AMA (“Ask Me Anything”) that he was still in the bottle business.
Also due to appear are “Bubba” and Brittani Bo Baker, who signed with Daymond John for a piece of their Deboned Baby Back Ribs business. The teaser implies the company, which received a $300,000 cash infusion from John, might have had difficulty keeping up with demand for its product.
Beyond the Tank airs at 9 p.m. Friday on ABC after a new episode of Shark Tank at 8 p.m.
[Image: ABC]
