Ginelle Mills is in Shark Tank pitching Cool Wazoo in Season 4. Her Daughter received a burn from a swing when she was younger. That gave Ginelle the drive to create Cool Wazoo.
Cool Wazoo created after burn on swing
The cover of the Cool Wazoo directs heat away on top of doing five things. 1) The swing cover, 2) Restaurant High Chair Cover, a Shopping Cart Cover, a car shade, and a changing pad in one.
Ginelle tells Kevin O'Leary and the other Sharks that mom's buy these things. The competitors don't do everything that Cool Wazoo does.
The Today show put the Cool Wazoo on when she did not have any inventory so; she took orders and ordered a run of product. She received the order which represented $14,000 in sales, but the eighty-five percent of the product returned wrong.
In the last twelve months, Cool Wazoo did $20,000, but she has had no inventory, and cost to make the Cool Wazoo in the United States is $30 to make one while wholesaling for $32.95, and for retail at $64.95. She managed to setup overseas manufacturing at $11.36 which is lower and is better quality.
Ginelle's husband invested $96,000 in Cool Wazoo so far. She has a purchase order for a 1,000 units.
Company: Cool Wazoo
Website
Entrepreneur: Ginelle Mills
Ask: $65,000 for 25% equity
Companies in this episode: No Fly Cone, Plate Topper, Nail PAKUpdate
Season: Season 4 Episode 408
Sharks: Mark Cuban, Daymond John, Kevin O'Leary, Lori Greiner, Robert Herjavec
First Aired: 11/01/2012
Deal: Lori Greiner $65,000 for 25% equity
What do the Shark Tank Investors say about Cool Wazoo
- Mark Cuban believes the problem is not the product; it is the learning process that she is going through will take too much to get where she needs to go. He is out.
- Daymond John thinks Ginelle learned a lot but has not learned enough. He is out.
- Kevin O'Leary can't join her on the wonderful journey, and he is out.
- Lori Greiner thinks Ginelle is great, and she will solve the problems, but she doesn't think this is your hero. She is out. Ginelle pours out her heart, and Lori decides to come back in giving her $65,000 for 25% equity.
- Robert Herjavec believes she is on a wonderful journey, but he is out.
Cool Wazoo after Shark Tank
What I find amazing is Ginelle poured her heart out to the Sharks, and Lori Greiner gave her exactly what she is asking on the show. You can buy the Cool Wazoo today, from an entrepreneur who made huge mistakes but did not quit. Ultimately, Ginelle licensed the Cool Wazoo in 2015.
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