Danielle and Julia pitch NeatCheeks on Shark Tank. Their wipes have a sweet, pleasant flavor that they love. They enjoy having their face clean because it has Stevia on the wipe. NeatCheeks have a pleasantly sweet taste that comes in wipe packs.
NeatCheeks goes from Lemonade to Shark Tank
Danielle came up with the idea when her daughters face had food on it. She did not have a wipe, so she asked her husband to dip a napkin in his water. He dipped it in Lemonade and used the napkin on her face. Her daughter wanted more because she loved the taste. She realized an excellent tasting wipe would make kids enjoy having their face cleaned.
Season: 6 Episode 625 Week 24
First Run: 4/17/2015
Sharks: Mark Cuban, Barbara Corcoran, Kevin O'Leary, Lori Greiner, Robert Herjavec
Entrepreneurs: Danielle Strangler, Julia Rossi
Company Website: https://www.neatcheeks.com
Ask: $150,000 for 20% equity
Deal: Barbara Corcoran for twenty-five percent
NeatCheeks are in forty different locations of which two are Walgreens and had a rapid reorder within 30 days, and are working to roll out regionally with Walgreens.
The company makes NeatCheeks for $.72, and it retails for $3.99 Regular wipes go as low as $1.99. Danielle says they have small volume production right now, and they are looking to bring the price down to $.52. They are not the most expensive wipes on the market.
NeatCheeks have $4,000 in sales coming into the Shark Tank. The company is looking to do about $90-100,000. They have a pending patent on the wipe.
What do the Shark Tank Investors say about NeatCheeks.
Kevin O'Leary loves the product, but they need the patent to keep the big guys from crushing them.
Mark Cuban thinks they came to early and are going to need a lot of money, so he is out.
Robert Herjavec asks what are they going to do with the money, and they say they are going to use part of the money to have a small salary at $50,000 each. Robert Herjavec hates their answer, and he is out.
Lori Greiner Makes an offer contingent on them getting their patent. She offers $150,000 for 30% equity. Lori changes her offer for $150,000 for twenty-five percent and then says she will trust them and pull the contingency on the patent if everything they say is true.
Barbara Corcoran suggests that they get a job with another company until they can fund their company. She took a full-time job while you build your business. Barbara goes out but comes back in after she asks if they can make it with a Cherry flavor. She offers one-hundred-fifty thousand for twenty-five percent.
The ladies are competing and fighting for the deal. They are plugging their networks trying to get them to make the deal. They take Barbara Corcoran's offer.
The one year Update of NeatCheeks
NeatCheeks is now in Bed, Bath & Beyond and buybuy Baby. Their revenue increased over 900% for the company that launched in 2011.