RuffleButts Shark Tank Pitch
RuffleButts and Rugged Butts are put on kids all over the world. Amanda wanted to find the bloomers her mother put on her, but she could not find them so she created a new line.
RuffleButts sales the previous year is $3.7 million and predict $4.5 million for the pitch year. They hit #8 on Inc. 500 in their category. RuffleButts has around 2,000 skews. With a fashion line they have to keep it fresh and hip.
They are looking to build up their production line, and they are also seeking advice as they continue to grow and expand. The competition doesn't do exactly what they do.
RuffleButts Cookies Episode Data
- Company: RuffleButts – Website
- Entrepreneurs: Mark Schaub and Amber Schaub
- Ask: $600,000 for 7% equity
- Episode Season 5 Episode 505
- Companies in this episode:
- First Aired: 10/18/2013
- Deal: Deal Lori Greiner $600,000 loan for 9% Payback at $300,000 a year for two years.
What do the Shark Tank Investors say about RuffleButts?
- Mark Cuban – sees them creating their portfolio of products all the time, and that's why they have all the skews. He has no idea what the best bloomer in the world, so he is out.
- Barbara Corcoran – says it is always better to go last and you know it to Lori, “Speak up my friend” as Barbara postures for a deal. Barbara offers $300,000 in cash and $300,000 for a credit line for 12% equity. Amber is coming back and doesn't like the offer, but is negotiating based on her vision for her kids.
- Kevin O'Leary – experienced having so many skews in this size business. He does not feel comfortable with the amount of items they carry. Kevin thinks they are tempted to expand, and having learned from his experience, he is out.
- Lori Greiner – is thinking about the deal because they are asking for $600,000 for 7% and she finds it light. Lori offers $600,000 for 10% and wants the first $300,000 back in the first year, and the remaining amount in the second year. They counter at 8%, with Lori coming back at 9%. They do a deal with Lori.
- Robert Herjavec – thinks it is remarkable that they have gotten here without any debt and he doesn't get the business so he is out.
RuffleButts after Shark Tank
This deal did not close with Lori Greiner.