'Shark Tank' offers a life-changing deal to founder who came up with a bizarre but fun musical pitch

“Shark Tank” may be a business reality show, but it's not all about sales figures, business models, and heated negotiations. Before sharks and founders get down to the numbers, the pitch has to be innovative and entertaining, and some entrepreneurs don't shy away from showing off their talent beyond business management. Alex Bayer, founder of Genius Juice, did so with a musical performance featuring three talented singers on the show. His voice might not have been ideal for singing, but the sharks enjoyed the pitch nonetheless, and the entrepreneur asked for $250,000 for 7% equity.

Genius Juice only produced coconut-based products, but it wasn't like regular coconut water. These bottles contained not only the water but the meat of the coconut as well. Young Thai coconuts are cracked open, and water is blended with the meat and then packaged into these bottles. They are then frozen as they’re transported to the States and thawed before being sold. The best part about it is that one bottle can fill you up, and you’d be consuming only 100 calories.

When asked about the sales figures, Bayer said that Genius Juice had recorded sales of $367,000 the year before recording and $320,000 year-to-date. The founder claimed that they were on course to tripling that amount by the end of the year, which would be around $1 million. These figures were decent enough, but there were two main issues for the sharks.

The beverage industry is among the most competitive in the world today, and that was enough reason for Lori Greiner to back out. “I do think, though, the beverage industry is very competitive, and I just don’t think I have the expertise here to help you,” she said. Another concern was refrigeration. These Genius Juice products do not have any added preservatives. That’s great for health but drastically reduces its shelf life unless it is continually refrigerated.

That means it can’t be put on shelves in stores and would require big spending on the brand’s part, as getting shelves in refrigerators doesn’t come cheap. Guest shark Rohan Oza might have been the perfect partner since he had experience in selling refrigerated beverages, but he did not want any part of it. He even said that the refrigeration bit “scared him.”

Barbara Corcoran shared a story about the time she invested in two beverage companies, but neither of them worked out. With a sour taste in her mouth, she vowed never to invest in another beverage brand again. However, Genius Juice changed that. The taste of the beverage was so good that she went against her resolution and offered $250,000 for 14% equity.

Kevin O’Leary came in and offered the same money for exactly the equity Bayer was willing to give up. However, his money would come as a loan for a period of three years at 9% interest. The entrepreneur wasn’t high on the idea of a loan, so she asked Corcoran if she would come down to 11%. That’s where Mark Cuban came in and suggested they each put forth $250,000 for 25% of the business. The entrepreneur was happy with this offer, and the deal was sealed.