Season 14, Episode 5 of Shark Tank follows aspiring entrepreneurs presenting various business ideas to tycoons (called “Sharks”) in the hopes that their ideas will get investment. Every week, ambitious entrepreneurs pitch their breakthrough business concepts to ruthless investors in an effort to convince them to invest in the concept.

What impressed me the most was Tracy Slocum’s speech, because her clothes were waterproof and windproof on one side and faux fur on the other. This is very durable, and can redefine luxury. The selling price of a piece of clothing is 220-290. But the production cost is only 36-40dollars, and the profit margin is about 70%. However, according to last year’s income report, Last year’s sales were 1197 million, but the net profit was 32,000. In conclusion, I found that spending 18,000 at the exhibition is more profitable than traveling to various cities.In the end there are two more people who can help tracy with finances and sales and marketing, investing 200,000 gives them a 25% return rate.

What gap does this product fill? Because I never thought that artificial leather can be combined with practical waterproof and windproof clothes, because these two items are actually not related. This is a combination of new thinking, so I think this is very marketable , although not many people know about it now, it needs to be slowly promoted.

What process does this product make easier? Tracy is right about how to find merchants to promote the clothes more effectively. If you bring clothes to small merchants in every city, why not go to a clothing fair or Participate in Shark Tank, because more people can understand her new ideas, or open a small shop on the Internet first, with photos of the clothes, and highlight the characteristics of the clothes, and then live broadcast on tiktok to bring the goods and do retail .

Why should consumers not only want this product but feel that they NEED it?If you go out to sea, you can wear the fur side if you take beautiful photos. If you encounter big waves, you can wear the waterproof and windproof side. In other words, if the winter in New York is very cold, we can wear fur, which will keep you warm and Beautiful, but bad weather if the weather suddenly cools down and rains and snows. You can wear the waterproof and windproof side, whether the inside is furry or warm, and the outer layer will not be watered.

I think the target audience of this product is from children to older people. The price so far is 220-290 clothes and backpacks that can be consumed in daily life. I think we can design more different styles and artificial clothes in the future. The material of hair, and then go to the trade fair, share it on the tiktok network, which can attract many consumer groups from different industries.

Katellyn Ahuatl

I’m actually a huge fan of the show Shark Tank. It’s quite interesting to see the many creative ideas that inspiring entrepreneurs have to offer to the shark. While watching this particular episode the pitch that resonated with me was Tracys, her product was called pretty rugged. She was asking for 200k for 10% of her company.  Her product is a blanket that is waterproof and windproof on one side and full fur on the other.  Her starter prompt  already got me hooked from the start because her product can be used in various situations and not just one which already is more marketable and appealing to the customers. The way Tracy presented her product was smart because not only is she focused on one product but she has a brand with other pieces of clothing with the same concept. The way she used her grandfather as a selling target was ideal because she can win with a background story which helps sell the product even more. Tracy also came in already with good sales and margins along with her main problem was the finances . The gap that this product fills is for all genders, ages and it can be a good target to people who travel and want to save the extra luggage, people camping, people in where the weather is bipolar and want to grab something convenient.  Her product can come in handy in all types of weather changes. I think consumers would not only want this product but feel like they need it because it’s convenient, fast, luxurious and fashionable. The only downfall I can say is the price is not the most affordable. Her prices are around $220- $290 which I believe can be lowered down a little more. Tracy’s product has a bright future if she can get the right advertising to the right people along with a good mentor that can help her make smarter decisions financially.

The pitch that I like the most is the Pretty Rugged I like how she used her grandfather idea to run and make the business, that was making a lot of money and receiving orders as they were participating in trade shows that’s where they generate most of their money from and they were making good money but they lack a lot of financial problems like how to save money and how to get the money as their net profit were less and but they were making good sales as they were putting most of the sales on the trade shows and the advertising business and they don’t have any expert or someone experienced to guide them to the financial problems that they aren’t able to figure out and that they need to discuss this issue and the problems that they have mostly the financial problems and I like that how she used her jacket to have the two sides blankets the fur side jacket and the water and wind proof on the other, and the best part they have the waterproof fur coat that they try to have a luxury brand that she wants to build and it was perfect target for the shark tank as she needs investor and the financial help that could help her company and that’s what I think has impressed the most.

The best I feel as the main importance of the Pretty Rugged is that they badly need the financial guidance and that they need some financing too but the financial guidance is the top priority in my view of her business and that she will get it from the Shark Tank and hope that the company will someday become a great luxury brand that they are looking for. With the better finance from the investors will shape the company in the better structure for future.

Week F Assignment

I wasn’t familiar with the shark tank before but after watching the episode I was hooked. I like the idea of presenting innovation or creation for the business and the show is helping a lot of small businesses and though who need funding for businesses. Throughout the episode of the Shark tank video, nothing impressed me but Pretty Rugged. Pretty Rugged can be successful with appropriate marketing. Tracy created the world’s first blanket with luxe faux on one side and waterproof, which she got inspired by his grandfather. A waterproof blanket is a must-have item during the winter season when you want to stay cozy whether you’re putting together or searching for something to keep you warm at the beach. The blanket is also machine washable which is the go product for most consumers. The blanket can be used for outdoor sporting events or any other outdoor activity that requires a need to chill off. The product it’s filled with synthetic alternatives to warm and cuddly down-installed variants. Due to their longevity, simplicity of use, and mobility, they are infinitely adaptable. What makes it easier is the softest faux fur, machine washable, waterproof, and take it in on the go.

I like the way she presented her product to the sharks. She began by showing her inspirational story about how she came up with the idea. Then she moved on to explain the features of the product. Then she talked about the cost of manufacturing and the net amount of the product. The Pretty Rugged cost to make was $30 to $40 and the retail price was $290.

The consumer should not only want this product but feel that they need it to be because, in my opinion, Pretty Rugged blanket can be helpful to all generations from young adults to adults when you go for any outdoor activities and it’s easy to carry on for any weather when you want to travel as I mentioned before.

The product looks luxurious, but I think it’s better to lower the price by a little at least $150 to $200 making it more affordable to more consumers since it doesn’t cost her a lot to manufacture. Although I saw $150 blankets on their website it looks much smaller than the product she was presenting.

The pitch that resonated with me the most was the first company presented, Plufl. I really like the presenters, very likable young entrepreneurs with good energy and charm. Most of the investors clearly liked the idea of the product and I thought that they communicated and represented their company well enough to receive multiple offers from the Sharks. They created a fun product that can bring joy and comfort to people’s daily lives. I think this can be a great Christmas gift for those who like to lounge and take frequent naps. Lastly Plufl resonated with me because I am often busy in my day to day. As a result, whenever I can I like to take naps. The Plufl entrepreneurs are from Bethesda, Maryland, and Seattle, Washington. They presented their napping product designed to reduce stress and anxiety. Plufl has brought to market the world’s first dog bed for humans that’s so comfortable that you might never want to leave. The product is made with soft tempur pedic material and faux fur. The presenters stated that Plufl will cradle customers to sleep with its built-in plush pillow bolster and supportive memory foam base. The product makes napping easier because it allows the consumer to take the product virtually anywhere because of the built-in handles, which allows for easy storage and transport. Unlike the typical air mattress, Plufl doesn’t require any time consuming inflation and deflation. I think this product is perfect for workers in the tech spaces and modern offices with nap rooms. The product is machine washable, easy to remove covers and pet friendly. The ergonomic support makes it easier for the user to nap quicker. Mark and Laury saw the potential and need for the product because they work in the space and have been very successful with other products (Hug Sleep) similar to Plufl, which can serve to complement each other in the market (branding and packaging). According to the presenters they received encouraging messages from mothers of children with sensory issues and trauma, along with people who suffer from a range of sleep issues and anxiety. The two investors Mark and Laury can help the company with promotion and marketing. The investors will be able to help decrease the production time, which will improve delivery to customers. Based on what I learned in this class I think this product could be positioned as a luxury and comfort item. I could see this product at Target or Bed Bath and Beyond prominently placed in the sleep and comfort aisles, next to the pillows and blankets. Personally I would package this product the way air mattresses are presented, which would be great for Plufl because the boxes will be smaller and lighter. On the brading side, I would stick to bubble lettering, fonts resembling clouds. Maybe a light blue box or inviting pastel colors and an image of someone sleeping on the product, looking cozy in the living room or office. Basically the brading should give the customer a sense that the product will fulfill their napping needs.

I would invest Plufl among those four product. The product concept is to bring people joy and comfort, a human-sized dog bed represents this concept vey well. It’s also the most useful comparing to the other three, especially for college students and young people–who has the culture of sleep over friends’ place after social gathering or party. Or for workers who isn’t financially well yet has busy schedule, on many occasions they crave comfort and short nap. The plufl is affordable, easy to carry and place on the floor–more convenient than set up a regular bed for visitors. It’s also a lot of fun and conveys a sense of optimism, that human compare themselves to dogs and self-deprecating. This branding is impressive enough since there has been no similar products by the time of this episode, and packaging is manageble. I believe if someone’s home has enough spaces for this bed and enjoys socializing, one would buy this bed. Maybe after purchase this bed, the buyers’ friends would want to sleep over for the sake of this cute bed! which is highly instagrammable.

Shark Tank is an entertainment show where entrepreneurs duke it out for exposure and funding. The entrepreneurs showcase their products, and attempt to convince the judges to open their wallets to finance the entrepreneur’s product. Securing a contract with one of the judges indicates the product has potential to be successful. In Season 14, episode 5 of Shark Tank, we were presented with a product with the slogan ”The Dog Bed For Humans”. This product won my heart (and wallet) because of the energetic presentation and the practical application.

Plufl, ”The Dog Bed For Humans”, was made by two college graduates, and I was hooked by their presentation right off the bat. I resonated with these guys because they were energetic, funny, and passionate about their product. Kipper, a dog, was an important actor in their presentation. We were reminded that Kipper is able to sleep anywhere, and that we could sleep anywhere like Kipper with a Plufl unit. I also related to their personal experience of being exhausted after a shift and needing to take a power nap. From their pitch, we can conclude that Plufl is for everyday use.

I believe Plufl woudl fall under sleep attire, like sleep masks. This product would fit perfectly with other products in the market. I feel Plufl is very much needed in the market because we all get that natural urge to nap during the day. No coffee or energy drink can defeat this natural need. Plufl orthopedic memory foam pad makes this a comfortable product to sleep on when that need arises. The worker that commutes should consider this product to nap on, but I also feel that Plufl could provide a similar lower priced product.

Plufl is priced at $399. That’s an expensive price for most people. This could be financially unfeasible for some interested customers; perhaps they could make a similar high quality product with less features, and a lower price. Adding different trims to the Plufl could make this appealing to a broader customer base with different income levels. In conclusion, Plufl is a product that’s needed in the market.

Shark tank is a reality show where up-and-coming entrepreneurs present their products to 6 investors. Episode 5 of season 14 includes four entrepreneurs who all have great businesses but the business that resonated with me the most is 

https://www.bridalbabes.co/ 

Bridal babes resonated with me because they lean towards diversity and are heavily involved with their customer base. It is clear they work hard, they also have made two million dollars in lifetime sales which is exceptional. Charles and Ashley Young’s presented their bridal business as the first bridal fashion line to celebrate women of all shapes, shades, and sizes. The fabric is made to stretch so that it is a good fit for all women and according to Ashley young, the fabric is what transformed their business and changed their business model. The material looks like satin and can stretch, drawing in customers at a fast pace.  This product allows bridesmaids to have more options regarding what they wear and is convenient because bridesmaids often struggle to find dresses.  

There are many reasons for the target audience to want a dress from bridal babes but what makes a customer need a dress from bridal babes is the company’s diversity when it comes to the size of the dresses and the style of the dresses. During the episode, Charles Young says “no one has ever seen bridesmaids in such stunning looks before”. The looks are unique and anyone can get a dress because they are affordable. The appeal for bridal babes is high because of how comfortable Charles and Ashley are with social media. Through social media, they are able to connect to their customer base like other businesses can’t and the virtual consultations they do make the customer’s experience with them personable.