ECONOMY & WORK
MONEY 101
NEWS
PERSONAL FINANCE
NET WORTH
About Us Contact Us Privacy Policy Terms of Use DMCA Opt-out of personalized ads
© Copyright 2023 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.
MARKETREALIST.COM / NEWS

'Shark Tank' offers $1 million deal to founder but one minor mistake changed everything in seconds

With two $1 million dollar deals on the table, entrepreneur Chet Beiler managed to pull off a blunder.
PUBLISHED FEB 1, 2025
Screenshot showing Kevin O'Leary expressing shock on Shark Tank along with the founder (Cover image source: YouTube/Sony Pictures Television)
Screenshot showing Kevin O'Leary expressing shock on Shark Tank along with the founder (Cover image source: YouTube/Sony Pictures Television)

As long-time fans of "Shark Tank " know, getting a million-dollar offer on the show is not an easy task. Furthermore, getting such an investment from the shrewd Kevin O'Leary is nearly impossible. Thus, when the founder of OverEZ Chicken Coops, Chet Beiler got the offer and lost it too, everyone was left shocked. 

Screenshot showing Chet Beiler making his pitch (Image source: YouTube/Sony Pictures Television)
Screenshot showing Chet Beiler making his pitch (Image source: YouTube/Sony Pictures Television)

For his pitch, Beiler walked into "Shark Tank" holding a live chicken named Chuckles. After putting Chuckles in the coop, Beiler started the pitch for his business OverEZ Chicken Coop.

Screenshot showing Beiler with Chuckles (Image source: YouTube/Sony Pictures Television)
Screenshot showing Beiler with Chuckles (Image source: YouTube/Sony Pictures Television)

He explained that backyard chicken keeping is one of America’s favorite pastimes and to facilitate it, his company makes modular chicken coops that are easy to assemble at home. He then revealed his shocking ask of $1 million in exchange for just 4% of his company. This immediately prompted groans from the Sharks with O'Leary asking Beiler why his company was worth $25 million.

Coming down to the numbers, Beiler shared that his company had made $21 million from sales. He added that year-to-date (in 2021) the company made $9 million from sales and generated a 12% or $1.35 million profit.

Screenshot showing the company logo
Screenshot showing the company logo (Image source: YouTube/Sony Pictures Television)

Describing the growth, Beiler shares that the sales in 2019 were $2.2 million, for 2020 were $6.8 million, and in 2021 he expected to close at $20 million. He shared that he planned to expand to Europe, for which he needed help from the Sharks, especially Robert Hervajec who had made a name for himself in the region.

While Herjavec was Beiler's primary interest, the Shark expressed concern over his fixation on Europe and his disorganized pitch. “The most valuable is my time,” Herjavec said. “My fear of going into business with you is that it is going to take me longer than the lifespan of a chicken to find out the details of your business," he added before going out. 

Screenshot showing Herjavec's reaction
Screenshot showing Herjavec's reaction (Image source: YouTube/Sony Pictures Television)

Mark Cuban and Lori Greiner also declined to invest, citing similar problems with the entrepreneur's European focus. “I think you’re coming in talking overseas and Europe because you think that sounds good to us, I don’t think you’ve really projected it out," Cuban said.

In the end, only two Sharks stayed with Beiler, as they were drawn in by the OverEZ’s revenue figures. O'Leary said he sees the upward ramp in the numbers and he loves cash flow. Thus, he made the first offer of $1 million as a loan to be paid off at 11.5% interest in three years. He added that he would also take the 4% equity in the business. Next was Daymond John who expressed concerns over the cost of materials. Despite that, he offered $1 million for 25% of the company’s equity.

Screenshot showing Daymond John's reaction
Screenshot showing Daymond John's reaction (Image source: YouTube/Sony Pictures Television)

Even with two million dollar deals on the table, Beiler seemed overly distracted. He kept going back to Herjavec, trying to bring him onboard on his Europe strategy. This naturally agitated O'Leary and John, who asked him to stay focused on the offers. “I can speak chicken, and those chickens are saying right now: ‘Why don’t you get focused on the two offers then talking to a guy who has been out for 15 minutes?’” O'Leary said. 

Screenshot showing O'Leary talking to Beiler
Screenshot showing O'Leary talking to Beiler (Image source: YouTube/Sony Pictures Television)

For a moment, Beiler negotiated with O'Leary, ignoring John entirely. This did it for the Shark and he pulled out of the deal. Beiler noted that he would like to do the deal with O'Leary but he would need more support from him in the future. “If you actually come in with business that makes sense, and I can make more money with my 4%, I’m going to support you. That’s what I do with all of my entrepreneurs," O'Leary said assuring him.

However, before finalizing the deal, Beiler again turned to Herjavec, saying he “just wanted to talk a little more about Eastern Europe.” This blew O'Leary's gasket and he swiftly withdrew his offer. "I am out! You do not understand! I was the only Shark... who was going to fund your business,” O'Leary said. 



 

Despite the loss, Beiler appeared to be in good spirits as he bid all the Sharks goodbye, hoping they would someday enjoy his backyard chickens.

MORE ON MARKET REALIST
While some said the QBall was unscalable, Mark Cuban, Lori Greiner, and Rohan Oza saw its potential
14 hours ago
Before the Bonus Round, another impossible puzzle had already upset the fans.
15 hours ago
Harrison managed to get a pretty good deal for the artistic item after the appraisal.
17 hours ago
Despite impressing the Sharks, the founder of Lord Von Schmitt failed to get a deal
18 hours ago
While the car was super cool for the shop, Harrison and the seller couldn't agree on the price.
1 day ago
The TikTok creator claimed the hack worked with just two simple steps.
1 day ago
When the friends were whispering their letter picks, the host was eavesdropping.
1 day ago
The contestant, Janine gave her mother one of the best birthday gifts ever.
1 day ago
The guest who brought the collecton in a pocketbook was left beyond astonished.
2 days ago
The seller simply refused to budge and was happy to hold on to the doll for a longer time.
2 days ago
This was rare on the show where Harvey is the one doing most of the talking and shutting people down.
2 days ago
Fans complained that the unusual clue cost the player a chance to challenge for the win.
3 days ago
The founders of xCraft struck a rare and expensive all investor deal on Shark Tank.
3 days ago
The dynamic host finally broke silence on exit rumours, cementing his intent to continue his job.
3 days ago
The painting and a note from the renowned artist, Hovsep Pushman left the expert in awe.
4 days ago
Banking on a bad guess made by his opponent, Ryan Burkett guessed the correct answer and took home a massive win.
4 days ago
The World War II era sketch was given to the guest's father by Jerry Siegel and Joe Shuster, the creators of Superman.
4 days ago
The contestant, Madison, hit the jackpot with less than a second remaining in the 'Race Game.'
5 days ago
Both the contestant and fans believed he stood no real chance of solving the Bonus Round puzzle.
6 days ago
The spooky item was a great find for the pawn shop, but the asking price was too high for Corey Harrison to cut a deal.
7 days ago