Mark Cuban offers a huge $500,000 deal to 'Shark Tank' constestants dressed as British Royalty

In addition to a pitch and the numbers, investors on “Shark Tank” consider several factors, such as the sector they are acquainted with and their own personal beliefs and lifestyle choices, before backing a venture. But sometimes a shark can make an exception, and that's what Mark Cuban did for a British sibling duo, who pitched pre-cooked meals. As a proponent of healthy eating, Cuban said that he was out right at the start, but changed his mind later on and offered them a fantastic deal.

The entrepreneurs were Christopher and Jennifer Jane, who were seeking $400,000 for 10% equity in their company, Proper Good. The company makes healthy pre-cooked meals in packages that could be eaten on the go without even being heated. The entrepreneurs claimed that the products did not require refrigeration and that they were popular amongst truckers, nurses, or any professional who needed to have a hearty and healthy meal on the go.

The entrepreneurs were dressed like British royalty, which caught the attention of guest shark Peter Jones. They even said that he was their favorite shark. “Alright, I’m out,” Cuban said upon hearing this. But, the shark’s immense knowledge and experience in the healthy food space gave him the confidence to tackle the issues that the other sharks found a bit too challenging.

Daymond John was the first to say no, as this was an industry in which he had little experience. Lori Greiner liked the products but believed that it was too early to invest in Proper Good just yet. The company might have boasted year-to-date sales of $1 million, but the entrepreneurs said that the company was still incurring losses due to its high cost of customer acquisition. Jones and Kevin O’Leary found this to be too much of an obstacle to invest almost half a million dollars into and backed out. The only person left was Cuban, the man who had said no to them right off the bat. Not only was he interested in the product, but he was confident that he could turn things around in a major way for the company. However, it was not going to be cheap.

“I know how to make this thing huge. I’m afraid you guys might hold me back,” he said, before adding, “When you have a product that’s functional and it’s the message itself, then you just gotta let it sell. Would you be willing to change your marketing and your packaging?” It did not take the entrepreneurs long to say yes, and the shark made them an offer. He asked for 25% of the company for $400,000.

This was more than double what they wanted to give up. The entrepreneurs would have preferred a better deal, but Cuban was the only one who offered them anything at all. After a little negotiation, the shark came down to 20%, and that was ultimately the deal that was struck. It was a decent deal considering the fact that they might have left the show with nothing.