Susty Party tackles waste from parties. Jessica and Emily want to create a better party, and they bring their eco-friendly mix and match tableware into Shark Tank.
Straws and cutlery are from sustainable wood. The plates and bowls are tapioca and grass fiber, and the napkins are recycled paper.
Susty Party in Shark Tank
Their plates retail for $4.99 and a thin plate might be half that price, but they aren't stable. They are in Whole Foods, and are on track to do $1.5 million for the year and are profitable. Jessica and Emily expect to net an eighty thousand dollar loss. They have $125,000 in inventory.
Susty Party has $200,000 debt from Angel investors and predicts $5 million in sales with $600,000 profit in the following year.
Company: Susty Party
Entrepreneur: Jessica Holsey and Emily Doubilet
Ask: $250k for 10% equity
From: Brooklyn, New York
Companies in this episode: The Bouqs Company, Angellift, and Hangease
Season: Season 5 Episode 527
Sharks: Mark Cuban, Barbara Corcoran, Kevin O'Leary, Lori Greiner, Robert Herjavec
First Aired: 05/02/2014
Deal: No Deal
What do the Shark Tank Investors say about Susty Party
- Mark Cuban is concerned about their management. They have a vast inventory, and they are introducing more skews. He likes the business, but their cash management isn't in a good place and for those reasons he is out.
- Lori Greiner would love to invest in them, but she recently invested in a company that is getting into plates that are environmentally friendly, she is out.
- Kevin O'Leary says the risk is someone does this who has a much more significant distribution channel. Kevin thinks they have a difficult situation, but he makes an offer anyway. He offers $250,000 as debt with 10% interest and 30% equity. They turn down Kevin's offer.
- Barbara Corcoran loves to listen to them, but she doesn't think she can make her money back, so she is out.
- Robert Herjavec asks why the business is worth $2.5 million. They say they are introducing 38 new skews without purchase orders. Robert sees a tremendous amount of risk, so he is out.
Susty Party after Shark Tank
Susty Party products are available through Amazon.
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