Since Shark Tank started in 2009, we’ve seen hundreds of entrepreneurs pitch their businesses to a panel of celebrity investors.
Each Shark has their own method for deciding if a company is worth an investment.
But they all agree on the fundamentals of a great pitch.
Here are some of the best Shark Tank pitches
The CEOs of Beatbox Beverages are Brad Schultz, Aimy Steadman, and Justin Fenchel.
They came in looking for $250,000 for 10 percent of their neon-colored, boxed fruit wine company.
Once they went through the details of how the three built their business, Mark Cuban decided the drink had the potential for huge growth among younger drinkers.
So, Mark offered $600,000 for a third of the company.
Justin was appreciative of the offer.
However, they hadn’t prepared to give up so much of their company.
So, Mark asked for a counter.
Without hesitation, Justin asked for $1 million in exchange for a third of the company.
They shook hands on the deal.
One of the main reasons why entrepreneurs miss out on a deal is when they become indecisive or anxious.
The Beatbox Beverages team clearly trusted each other and had prepared well, meaning nothing caught them off guard.
They ended up with an investment that’s very large for the show.
The founder and CEO of the business is Charles Michael Yim.
He was the first entrepreneur to get all five Sharks in the tank to join in on a deal.
The investors started fighting with each other for a piece of his smartphone-operated breathalyzer.
So, he calmly told them that regardless of what happened he was looking to raise $1 million in the next two months from angel investors.
He was happy to get more than one Shark in on a deal.
Mark, at first, was reluctant to work with anyone.
However, Charles was able to start a conversation where the investors realized a bidding war would cause everyone to miss out.
In the end, Mark agreed to invest $500,000 for 15 percent equity.
John, O’Leary, Greiner, and Herjavec split another 15 percent for $125,000 each.
The founder is Johnny Georges.
He proved that making an emotional connection with an investor can, on rare occasions, overcome a lack of business acumen.
Johnny told the story of how he developed a business from his late father’s invention.
It is a semi-conical device that farmers can use to conserve water around trees.
An independent study found that trees with T-PEEs use “93% less water, fertilizer, electricity, and fuel.”
This excited the Sharks.
However, they were then disappointed by Johhny’s lack of a drive to make the devices more profitable and to attack the market.
He then gave a passionate speech as to why he believes so strongly in helping his fellow farmers and carrying on his father’s legacy.
The investors started to get emotional.
Guest Shark, John Paul DeJoria, invested $150,000 for 20 percnt equity.
Kevin told Business Insider that Johnny’s tribute to his father and mission “was a particularly powerful moment in ‘Shark Tank.’
Cousins Maine Lobster
Barbara Corcoran told Business Insider that this was the best pitch she’s seen.
The founders of Cousins Maine Lobster are Sabin Lomac and Jim Teslikis.
Barbara said “They were clear, they were good-looking (you couldn’t take your eyes off them), they were high energy, and they answered every question and objection like geniuses. Genuine, rock-solid, and perfect answers.”
After meeting with them to work out a business plan she found out that it was far from luck.
The cofounders prepared for their pitch by watching all four seasons of Shark Tank.
They filled a stack of paper with every question about their business they could think of.
Then they took turns quizzing the other to ensure that they had every answer memorized.
Barbara also said: “I haven’t seen it before, and I haven’t seen it since”.
Over-the-top pitches with performances and props can make great television but often are used to hide problems in a company.
EmazingLights used a huge cartoon headpiece and a light show to demonstrate the company’s unusual product.
It is a pair of gloves with LED lights in the fingertips.
They have become popular at raves.
The founder and CEO of the company is Brian Lim.
The pitch showed the importance of self-promotion when wooing investors.
He was able to convince them that the $7 million in yearly revenue he had achieved for his four-year-old company was because of his focus, passion, and long-term vision to defeat the competition.
Robert Herjavec told him “you are probably one of the, if not the best entrepreneur we’ve had here.”
Brian made a deal with Mark and Daymond John.
Mark gave $650,000 for 5 per cent and Daymond took licensing rights and a 20 percent commission.
The founders are a husband-and-wife duo, Nick and Elyse Oleksak.
They left high-paying jobs to pursue building their own business.
They launched the company Bantam Bagels in 2013.
When entering the tank they were looking to turn a New York City outlet into a national business.
Their pitch was good as they clearly pointed out how the company’s been successful so far and what its weaknesses are.
Lori Greiner saw the perfect opportunity for another home shopping hit.
She got 25 per cent of the company in exchange for a $275,000 investment.