Bea Arthur is the founder and CEO of Pretty Padded Room. She talks about therapy by confiding in a trusting friend. Bea wants to provide the credentials of certified therapist for women, though video chat, or a traditional diary.
She makes her pitch in Shark Tank Season 4. She offers a trial session for $20 lasting 30 minutes. The therapist gets $16, and Pretty Padded Room receives $4.
Pretty Padded Room is subscription based with three subscription options. One-hundred dollars is five digital diaries; one-hundred fifty dollars is four thirty minute sessions with video and one digital diary; two-hundred dollars is four forty-five minute video sessions and three digital diaries.
Pretty Padded Room Shark Tank numbers don’t add up
The first year they offered free sessions while she worked as a domestic abuse counselor. Sales amounted to $7,500. The conversion rate is about forty percent, and they stay for six months.
This year she is projecting $21,000 in sales. Mark Cuban asks what the lifetime value of a customer. She doesn’t understand the question, so Mark explains that how much is she bringing in for the time that the client is doing business with Pretty Padded Room.
Bea Arthur doesn’t understand the numbers in her business. She has an opportunity, but she doesn’t follow the business model. Barbara Corcoran says it right, she needs to find the smartest financial person she knows and make them her partner.
Company: Pretty Padded Room
Website
Entrepreneurs: Bea Arthur
Ask: $100,000 for 30% equity
Companies in this episode: Gotta have S’More, How Do You Roll?, Pretty Padded Room, Smartwheel, Update: Invis-A-Rack
Season 4 Episode 416
Sharks: Mark Cuban, Daymond John, Kevin O’Leary, Lori Greiner, Robert Herjavec
First Aired: 02/14/13
Deal: No Deal
What do the Shark Tank Investors say about Pretty Padded Room
Mark Cuban tells Bea Arthur that she has the accolades for her business. She has to learn the language of business, don’t blow it, but he is out.
Daymond John sees that Bea is passionate, and doing what she loves. It is scary that you do not know your numbers, and he is out.
Kevin O’Leary talks about an island that right off the coast of South Africa with the largest number of Sardines exist. Seals love Sardines and sit on rocks because the Great White Sharks will eat the seals. After about seven days the seals starve, and the hungriest go first. They first are sacrificed while thousands of other seals follow into the water. Kevin tells Bea she is the first seal, and nobody else will come into the Shark Tank without knowing their numbers.
Barbara Corcoran tells Bea Arthur she needs to find a financial person that understands the numbers and make them a partner.
Robert Herjavec tells Bea there are crucial numbers that you have to know about your business. You are indefensible when you do not know your financial numbers. He is out.
After Shark Tank – Pretty Padded Room
Pretty Padded Room is no more, Bea Turned it into a new site called In Your Corner, according to her personal, professional website .
If are redirected to a new site, called 7Cups. If you follow the Pretty Padded Room website address. 7Cups has what they call listeners who are trained to listen to what you have to say but do not appear to be licensed therapists.