Art Class with Wine becomes a fun get together with Wine and Design. They have a Bachelorette package for Lori and Barbara, allowing them to paint a male model who is in the buff. Bring on the wine! What a pitch on Shark Tank, but a female model would be better!
Wine and Design teaches you to paint will drinking your favorite beverage
They have an instructor teaching you how to do your painting as you sip your adult beverage from Wine and Design.
All the Sharks are laughing and having a great time. The model and the instructor step out, leaving Harriet and Patrick Mills to talk about their pitch.
The cost is $34 per person per class, and Wine and Design have 74 franchised locations in five years. They had $675,000 in the first nine months, and are at ten million dollars in sales, with projected sales at twelve to thirteen million dollars.
All franchisees are women-owned, and Kevin O'Leary will love that about this business.
Company: Wine and Design
Entrepreneurs: Harriet Mills and Patrick Mills
Ask: $500,000 for 10% equity
Companies in this episode: Rocketbook, LAID Brand, Bridal Buddy
Season: Season 8 Episode 824
Sharks: Mark Cuban, Barbara Corcoran, Kevin O'Leary, Lori Greiner, Robert Herjavec
First Aired: 05/12/2017
Deal: Kevin O'Leary $500,000, with $350,000 as a loan at 12% interest and 10% equity.
What do the Shark Tank Investors say about Wine and Design
Mark Cuban thinks what they have accomplished is great, but if they grow ten times, they still haven't developed enough to get a return, so he is out.
Barbara Corcoran believes their valuation is way off, so she is out.
Kevin O'Leary offers to buy the whole company, and Harriet and Patrick tell Kevin to make an offer. They are the third largest Art Studio in the country. Kevin Makes an offer. He is willing to give them $500,000, with $350,000 as a loan at 12% interest, for 10% equity. Kevin O'Leary does the deal with Wind and Design.
Lori Greiner thinks their business is very impressive, and given that they are number three, space has a lot of competition, and so she is out. Lori is shocked that they bring a naked male model into the tank and they get two offers from male Sharks.
Robert Herjavec tells Harriet and Patrick he has a better structure available to them. He offers $500,000 for 33.3% equity.
Wine and Design after Shark Tank
Kevin O'Leary completed the deal with Wine and Design founders, Harriet and Patrick Mills. The partnership is working well, and Kevin even models in one of their studios for their Shark Tank Update!
Wine and Design is the first company to come into Shark Tank successfully operating franchises.