Taylor has been playing music for over twenty years. He started this company when he had a high school garage band. His business helps find instructors for teaching music.
Taylor Robinson offers access to Music Instructors
Students use the Taylor Robinson Music website or mobile app. They scroll through reviews, specialties, and schedules. Taylor's company gets a small commission when they book.
Taylor Robinson Music made $2.5 million in the past five years. The previous year, they did $450,000, and this year they are doing $500,000.
Their costs are keeping their profit at $40,000. They pay $33 to acquire a customer. They make $9 per lesson, and he only brings in $2-3.
He is looking to automate the system that is now manual. They do screening on background checks.
Kevin asks if the artists can set their price. Their software does not allow them to adjust the rate according to the instructor.
Company: Taylor Robinson Music
Entrepreneur: Taylor Robinson
From: Dallas, Texas
Ask: $100,000 for 10% equity
Companies in this episode: Taylor Robinson Music, Funtime Express, PowerPot, Quickstop Fire Sprinkler Tools
Season: Season 5 Episode 524
Sharks: Mark Cuban, Daymond John, Kevin O'Leary, Lori Greiner, Robert Herjavec
First Aired: 04/11/2014
Deal: No Deal
What do the Shark Tank Investors say about Taylor Robinson Music
Mark Cuban thinks he is very close, but it's not putting a finger in the whole, and Mark thinks he is a little too early so, he is out.
Daymond John is an investor in a very similar product. He thinks his positioning is wrong. Daymond believes Taylor is working hard not smart. He is out.
Kevin O'Leary is not interested because the instructors are not able to set their price. He is out.
Lori Greiner's business on QVC, she has to convince her audience why they have to pick up the phone in four minutes, Taylor did not do that. She is out.
Robert Herjavec thinks he is close, but not seeing the big jump today. He is out.
Taylor Robinson Music after Shark Tank
Taylor Robinson made some significant changes after his Shark Tank pitch. His company is now doing over $1.5 million and has doubled his profit margin. They are focusing on target markets and doing the technology upgrades to scale Taylor Robinson Music.