Sharks are one of the most interesting animals in the world of the sea, but have you ever thought about what are the most successful Shark Tanks rejects? Shark Tank is an American reality show where the contestants don’t sing or dance or tells jokes, but they bring their business to the table. They convince the judges or the ‘sharks’ to invest in said business.
One of the most successful shark tanks is Eco Nuts. A detergent company, Eco Nuts looked to be a good business when its owners made the pitch of $175,000 for a 15% part in the firm. Another one is Echo Valley Meats. Dave Alawan was the owner of a fresh meat company and sought $300,000 for a 20% stake in his business. While the sharks loved the product, they criticized Dave for not having a clear plan, and this led to him exiting the show without a deal. Proof Eyewear is one of the most successful shark tanks. This business is owned by brothers, who create handcrafted eyewear which is made of wooden frames. Even though they left without a deal, the business has soared since, with retailing and distribution established in 20 countries.
Why is Shark Tank so famous? The show is a franchise of the global format Dragons’ Den, which originated in Japan in 2001. Shark Tank shows enthusiastic entrepreneur-contestants as they make business presentations to a panel of “shark” investors, who then choose whether or not to invest. Hark Tank has been a rating tops in its time slot and has won the Primetime Emmy Award for Outstanding Structured Reality Program three times. For those who never watched this tv show, on May 2017, ABC revived the series for a ninth season. The “sharks” often find vulnerabilities and flaws in an entrepreneur’s idea, product, or business model. Some of the investors try to soften the impact of rejection, like panel member Corcoran, while others such as O’Leary can be “brutal” and show “no tolerance even for tales of disaster.
If you want to see what are the most successful Shark Tanks rejects, check Insider Monkey’s list of 11 Most Successful Shark Tank Rejects and expand your knowledge more about this topic.