Sun-Staches is a fun and exciting face wear company. They pitch their party shades in Shark Tank Season 6. They have a set of Shades for every occasion.
Sun-Staches brings great numbers into Shark Tank
The company did $5.7 million in sales of which $2.8 million is the Sun-Staches, and the others are private label goods. They range in $7.99 to $12.99 retail and cost to make between .75 and a $1.50. The company will make a profit of $750,000 after salaries. They launched Sun-Staches in 2011.
Entrepreneurs: David Levich, Dan Gershon, and Eric Liberman
Ask: $300k for 5% equity
Companies in this episode: Jungle Jumparoo, The Caddy Girls, Red Dress Boutique
Season: Season 6 Episode 605
Sharks: Mark Cuban, Daymond John, Kevin O'Leary, Lori Greiner, Robert Herjavec
First Aired: 10/17/2014
Deal: Daymond John does the deal for $300,000 at 20% equity.
Sun-Staches wants to partner with a Shark. Daymond wants to know why they are charging the Sharks for a premium to do the work. They have overvalued the company.
What do the Shark Tank Investors say about Sun-Staches
- Mark Cuban wants to know what is the best equity the partners will give? They went to 10%, and Mark Cuban shakes his head no. They asked Mark to do $300,000 for 12.5%, and he said no.
- Daymond John sees them going down the toilet quickly. He can help them get the licenses they need, and he needs to get paid for that work. Daymond is willing to do that for twenty-five percent. They counter asking him if he would go in with mark at $300,000 for 12.5%. Daymond countered with 20% with an answer now.
- Kevin O'Leary tells them they are worth about 2.5 million dollars. Kevin is out because of the valuation.
- Lori Greiner can't get excited about the glasses, and she is out.
- Robert Herjavec says that you are in love with the future, but you have to be reasonable about where you are today. He is out.
Sun-Staches after Shark Tank
Making a deal with Daymond John launched Sun-Staches to the next level. They scored a deal with Marvel, and their sales went to twenty million just like Daymond promised.