This founder knew how to make an entrance on 'Shark Tank' — and win a life-changing deal
First impressions are the key to getting people interested in a product, and entrepreneurs on “Shark Tank” know how to grab attention with a grand entrance. However, no one has zoomed into the tank on a dirt bike like an entrepreneur named Bryce Hudson. That name might sound familiar to motorsports enthusiasts, as Hudson is a professional dirt bike racer who has competed in the prestigious X Games multiple times. He has won one gold medal and multiple silver medals thanks to his performance at the event.
Hudson was seeking $85,000 for a 20% stake in his company, Grip Clean, which specializes in making handwash. However, it’s not like the regular handwash that people find in stores, since this one uses dirt as an exfoliating agent and is specifically for those people who get their hands dirty as part of their jobs, like mechanics and farmers. The all-natural product is quite thick compared to regular handwash soaps. Robert Herjavec tried it out, and he absolutely loved it. There was nothing wrong with the product, but the only issue was with the numbers. It cost Hudson more than two dollars to make each unit, and for that cost to come down closer to a dollar, he would have to produce the handwash in a larger quantity. That is part of what the investment is for, and some of the sharks believed that the business was at a level where they would be willing to invest.
Mark Cuban was one of them, and he backed out. Daymond John also believed that he wouldn’t be able to do much for the product at this stage of its journey. Herjavec tried the product and liked it, so some might have believed that he would be willing to invest. However, he had invested in a similar product earlier, and it didn’t work out well in the market. Therefore, he wasn’t willing to take the risk.
The X Games gold medalist now only had Lori Greiner and Kevin O’Leary to convince. Mr. Wonderful might have been okay with investing despite it being a nascent company, but Hudson’s manufacturing problem turned him off. The entrepreneur had been forced to manufacture handwash in his garage with a 5-gallon bucket, as none of the big manufacturing firms were willing to work with him.
After all, dirt was one of the primary ingredients of the handwash, and it would contaminate everything that was being produced. This posed a massive problem, and for that reason, O’Leary said no. Greiner was the only one left, and she seemed to be in two minds. The manufacturing problem was concerning, but the product was right in her wheelhouse. If all went well, it could be a million-dollar company.
“Look, I’ll take a flyer on you,” she said, but explained that there was a lot of work left to be done. The shark then offered him the $85,000 but asked for 35% of the business. Hudson knew this was his only offer and did not wait or negotiate before saying yes to the deal.
