Megan Cummins brings her product; You Smell Soap into Shark Tank Season 3. She did a trial run of 1200 bars to test the market.
She has no sales and has already sent them out to different companies, selling them, and they wound up selling for between $7-12 a bar. Urban Outfitters asked how fast they could get them, and what the cost would run?
She also has thin paper soap that goes in your pocket or purse for single use. Her soap bars are going to cost roughly $.80 and retail for $2.25
She does not have an actual Purchase order for You Smell Soap because she doesn't want to promise what she is unable to deliver.
You Smell Soap Episode Statistics
Company: You Smell Soap
Entrepreneurs: Megan Cummins
Ask: $55,000 for 20% equity
Companies in this episode: Chord Buddy, Liquid Money, Tail Lightz, You Smell Soap
Season 3 Episode 303
Sharks: Mark Cuban, Daymond John, Kevin O'Leary, Barbara Corcoran, Robert Herjavec
First Aired: 11/13/2015
Deal: Deal Robert Herjavec $55,000 for 20% plus a $50,000 salary
What do the Shark Tank Investors say about You Smell Soap?
Mark Cuban wants to know what makes you the person to take this from concept, to design, all the way to success? What skills does she have that gives him confidence that says we can deliver. She tells Mark, she knows what has to be done, and it is in her blood. Mark offers her $55,000 for 20%.
Daymond John is impressed with Megan's tenacity, but it is not a business he is interested in, so he is out.
Kevin O'Leary says the only thing of value here is a brand, which is not proven yet. He is impressed with her presentation, but it doesn't make it easy to smell the money. He is out.
Barbara Corcoran says she is a total surprise; I thought you were a blond bombshell, but the more you talk I realize you are a killer. She makes sure everyone she invests in is a success. She offers her $55,000 but she needs 40% of the business, and she also wants a dime for every bar she sells she would love to be her partner.
Robert Herjavec smells the blood in the water, but he smells the lemons. Robert offers her $55,000 for 20% plus a salary of $50,000 to do this business. She takes a deal.
You Smell Soap after Shark Tank
Megan never completed the deal with Robert Herjavec. The company appears to be non-existent as the website is gone.