Freshly Picked Shark Tank Pitch
Freshly Picked is a company that creates Soft Sole Leather Baby Moccasins and is pitched in Shark Tank Season 5.
Susan looked everywhere to find a Soft Sole Baby moccasin to help her 2nd child learn to walk with a flexible soft toe. She couldn't find a solution, so she created Freshly picked, sewing the moccasin herself.
Her company, Freshly Picked, will do $500,000 during the Shark Tank pitch, and she will make $120,000. She hired a local girl to help her, and she has production in California as well, selling through her website.
Susan tells Kevin her face is on her pillow at night, and Kevin says “Keep it up and I will drop the royalty!”
50% of all Freshly Picked customers come back and purchase three more times. When she started, she had no money.
Susan's brother has a window company, and she convinced him to give her all the old windows. She took a hammer and cleaned out the glass, and then took the aluminum to the scrap yard for money to buy leather to make the moccasins. She continued to put the money back in, and is the reason for the slow start.
Freshly Picked Moccasins sell for $60, and cost her $17 to manufacture and is domestic. She thinks with social media alone she can do between $2-3 Million. She has retail customers interested, but she cannot keep up with the demand as she needs to make an order overseas to handle the retail business.
Kevin wonders how in love she is with retail? Personally, I think that she should stay focused in her online sales as the margin is great, and the revenue is there.
Freshly Picked Shark Tank Episode Data
- Company: Freshly Picked – Website
- Entrepreneur: Susan Petersen
- Ask: $150,000 for 10% equity
- Episode Season 5 Episode 515
- Companies in this episode:
- SwimZip
- FitDeck
- LifeCaps – Survival Pill
- Freshly Picked
- Daisy Cakes – Featured Update
- Sharks:
- First Aired: 01/24/2014
- Deal: Daymond John $150,000 for 25% equity
What do the Shark Tank Investors say about Freshly Picked?
- Mark Cuban – thinks her story about taking the aluminum out of the windows should be in every entrepreneurs manual. That said, he is not the guy to help her with this because he would be learning from her, not the other way around. He is out.
- Daymond John – wonders why she needs the money if she feels she is going to do so well in the next year. Susan loves advice, and she needs help with manufacturing because she has not been to school. Daymond offers the $150,000 for 25% without Kevin. She counters Daymond at $150,000 for 20%. She tells him that he is her dream Shark. Daymond promises her a space in the office and he tells her she is a tough cookie. They have a deal.
- Kevin O'Leary – thinks he needs Daymond John, he offers $75,000 with no equity, but a royalty of 7% until his money comes back, and drops to 5% once his money comes back. She still needs Daymond to give her $75,0000 to do the deal. She declines the offer.
- Lori Greiner – thinks she has what it takes to make it in the baby shoe business. She feels that Susan is better on her own, and for that reason she is out.
- Robert Herjavec – doesn't think he is the right partner because he can't add anything to the baby shoe business. He is out.
Freshly Picked after Shark Tank
Susan Pedersen scored a deal with Daymond John, and in fact, she has consistently scored a deal in everything she is doing. Staying focused, working hard and taking each step as they come makes her business turn into a multi-million dollar organization. We have a lot to learn from her, that some of us already know, but need to practice.
She has no extended education, and uses hard work, determination and focus to guide her. She knows how to ask for help, but is street smart, and makes solid decisions along the way. Ironically, the deal with Daymond fell through after the show aired, but that did not stop her from continuing to sell over 60% of her product online, and offer her Moccasins in stores such as Nordstrom's. She is one savvy entrepreneur!