Eco Nuts steps into Shark Tank seeking one-hundred-seventy-five-thousand dollars for fifteen percent of their company. The company has certified organic, using a soapberry from the Himilaya's that produces soap.
Eco Nuts Soapberries as a cleaning product
The Eco Nut berries go in a small pouch in your load of laundry. Use each soapberry ten times. They have managed to capture ninety percent of the soapberry market in three years, which is about a million dollars.
Daymond asked if they had $900,000 in sales, and Scott said no. They have done $100,000 in sales, and they expect to do $250,000.
Barbara Corcoran asks if Scott and Mona are married. Scott said they are working on it, and Mona comments they are Engaged. Robert, says congratulations, and Mona comments, don't do that, we were Engaged five years ago.
They are working to get Eco Nuts to the next level before they marry.
Eco Nuts has a proprietary sterilization process. And the reason for their evaluation is that they have doubled their business every year.
Mona claims she is a social media ninja, who has more fans then Barbara has. Barbara jokes, she is out.
Company: Eco Nuts
Entrepreneur: Mona Weiss and Scott Shields
Ask: $175k for 15% equity
Companies in this episode: Cousins Main Lobster, Kisstixx(Update), Pro-NRG, and Freaker USA
Season: Season 4 Episode 406
Sharks: Mark Cuban, Daymond John, Kevin O'Leary, Barbara Corcoran, Robert Herjavec
First Aired: 10/18/2012
Deal: No Deal
What do the Shark Tank Investors say about Eco Nuts
Mark Cuban thinks their marketing is horrible, and there is nothing that will demonstrate your differentiation. Scott gives Mark excuses for why his marketing is good. Mark is out.
Daymond John says he should not be making the mistakes on the numbers, saying that the market is a million dollars and you own ninety percent. He is out.
Kevin O'Leary tells Mona and Scott that Eco Nuts is not currently worth a million dollars. He is out. Kevin offers to marry them saying, let me do it now.
Barbara Corcoran thinks the Eco Nuts name is excellent, and the best part of their pitch is they are a great couple. She doesn't think they present the product well, and she is out.
Robert Herjavec tells them they have to know the numbers, and you can't say what you don't know. Robert wants in the business. He makes them an offer for $175,000 for fifty percent. Mona says Robert better be working sixteen hours a day on Eco Nuts as they do. Robert did not like her response, and he goes out.
Eco Nuts after Shark Tank
Eco Nuts sales are in the millions of dollars, and the exposure from Shark Tank proves significant in their success. Pitching on Shark Tank is like the ultimate infomercial, even when you get your numbers wrong and say flippant things that kill your deal. The Sharks really like Mona and Scott even though the pitch misses.
Eco Nuts products are available on Amazon.