Barbell Apparel's Shark Tank Pitch
Barbell Apparel's focuses on an underserved market, the body builders. They are focused on the muscular bodies that don't fit well in traditional clothing. Their clothing keeps bodybuilders comfortable during any activity.
Barbell Apparel's revenue is $2.3 million for the Shark Tank Pitch year. They launched on KickStarter in March of 2014. The goal was $15,000 and in forty minutes, they hit their goal, with $735,000 in their first KickStarter pitch. They expect to gross $1.5 million on $2.3 million in sales.
Jeans from Barbell Apparel's retail for $149 and their cost is $15 to $20. They need help managing their inventory because they sell out so fast.
Barbell Apparel's Shark Tank Episode Data
- Company: Barbell Apparel's – Website
- Entrepreneurs: Alex Hanson and Hunter Molzen
- Ask: $500,000 for 5% equity
- Episode Season 8 Episode 809
- Companies in this episode:
- First Aired: 11/18/2016
- Deal: No Deal
What do the Shark Tank Investors say about Barbell Apparel's?
- Mark Cuban – says the issue is it is hard to create barrier to entries. The minute you can't get them, somebody else is looking at the opportunity. The question is how they overcome not being able to protect it. He is out.
- Daymond John – has fifteen clothing lines with twelve of them are dead. He still invests because he buys into lines that needs to be refreshed. Daymond says Denim is cooler with wear meaning that it does not get refreshed as fast. He is out.
- Kevin O'Leary – thinks they need a ton of sales to justify their valuation. Kevin tells them a private equity pre-money at best would be $5 million and they would be a rock star. He points out on an after tax basis they are asking thirty times revenue. They have done an incredible job in a brutal industry, but this will inhale cash, he is out. If they had asked for less, they probably would have walked out with a Shark.
- Lori Greiner – gives them props, and getting into the industry is hard to do. She is impressed that they created something new in an industry that is impossible to do something new. She is out.
- Robert Herjavec – knows the business well. It is a management of inventory business and it sucks cash, but at a ten million valuation, it is too big of a risk right now. Robert can't get there, even though they are great operators. He is out.