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 / ECONOMY & WORK

'Shark Tank' contestant brings a shirtless model to promote her business — and it doesn't end well

The company had fantastic sales but a crushing debt with a high interest rate that the sharks hated.
PUBLISHED 7 HOURS AGO
Screenshots showing the entrepreneur (L), the model, and guest shark Kendra Scott on "Shark Tank." (Cover image source: YouTube | Shark Tank Global)
Screenshots showing the entrepreneur (L), the model, and guest shark Kendra Scott on "Shark Tank." (Cover image source: YouTube | Shark Tank Global)

From celebrity endorsements to dance troupes on the set, entrepreneurs on “Shark Tank” employ a number of tactics to make their pitches more eye-catching. But even that doesn't guarantee a good deal, because the sharks are shrewd negotiators and have their eyes on the numbers even if a product impresses them. Aliyah Marandiz was one such founder who had to go home empty-handed, despite bringing a shirtless model on the show. She was seeking $500,000 for just a 5% stake in her business, Sugardoh, which sold an at-home body hair removal kit, as an alternative to waxing.

To demonstrate the product, Marandiz asked guest shark Kendra Scott to come up to the stage and remove the hair from a topless male model’s chest. Scott seemed excited at the prospect and enjoyed the experience. Mark Cuban, who was simply watching the whole thing go down, said that it was satisfying. The product worked well, but hair removal is something that has seen innovations for centuries.

Kevin O’Leary found it tough to wrap his head around it, but he was interested in learning about Marandiz’s sales. The entrepreneur said that she’d made $50,000 in her first year, $2.6 million in the second after going viral on TikTok, and $5.6 million the year prior to the taping. The growth was astronomical, but too much of anything can cause problems, even growth.

Screenshot showing guest shark Kendra Scott testing the product. (Image credit: YouTube | Shark Tank Global)
Screenshot showing guest shark Kendra Scott testing the product. (Image source: YouTube | Shark Tank Global)

But it turns out that Sugardoh had a whopping $1.5 million in debt with an interest rate of more than 20%. As a result, the Marandiz did not make any profit from her humongous sales. This put off every single shark. The entrepreneur also said that they had lost more than $400,000, which added to their debt. The company had no cash, which was the reason why Marandiz was on the show and a ton of inventory. This was definitely not good news. Mark Cuban was the first to say no to a deal, as he did not have a clear idea about the product or the industry, and Mr. Wonderful followed suit as well.

Screenshot showing Kevin O'Leary on
Screenshot showing Kevin O'Leary on "Shark Tank." (Image source: YouTube | Shark Tank Global)

He had already felt that the entrepreneur was asking for a massive valuation, and the whole debt factor killed any interest that he might have had due to the company’s fantastic sales. Daymond John simply did not believe that he’d be able to make his money back and said no. Guest shark Scott, who took part in the demonstration, also said no as she did not feel it was her type of business.

Lori Greiner did not talk about Marandiz’s debt, but believed that the market for such products was highly competitive. So if the business isn’t profitable, it’s doubtful how long they’d be able to survive. Therefore, she too decided against offering a deal to the entrepreneur.

More on Shark Tank:

Bodybuilder takes off his shirt during 'Shark Tank' pitch and the judges didn't seem to mind it

'Shark Tank' offers a 6-figure deal to entrepreneur who came up with a special underwear for men

'Shark Tank' offers a life-changing deal to entrepreneur who cut her hair boldly on live TV

RELATED TOPICS SHARK TANK
MORE ON MARKET REALIST
Guests on the show would run with it if they ever got that kind of money on Pawn Stars.
2 hours ago
The guest even said to keep the kids in the dark about how valuable these items were.
4 hours ago
The company had fantastic sales but a crushing debt with a high interest rate that the sharks hated.
7 hours ago
It was only Carey's second season in the show and he could have been part of a massive scandal.
1 day ago
“I won’t say anything, and you know why,” he said, with a gesture to zip his lips.
1 day ago
The ring was rescued by the guest's mother thanks to a stranger early in the morning.
1 day ago
"She blanked out. It happens to the best of us," a fan sympathized with the player.
1 day ago
The instrument originally belonged to the guest's grandfather who suffered a horrific injury.
2 days ago
The contestant's wife seemed embarassed at that point of time, and worried as well.
2 days ago
The co-founders of Dino Don got the shark that they always wanted on board.
2 days ago
One can understand why the measure is in place but the shopper was having none of it.
2 days ago
"My husband and I definitely noticed it! We had to rewind it a few times," a fan reacted.
2 days ago
All of the sharks agreed that she had a great product and the drive to be successful a businesswoman.
3 days ago
It's possible that the dog played a little part in making it easier for them to get a deal.
3 days ago
Without the help of his wife, the contestant would have gone home empty-handed.
3 days ago
The pawn store owner had a valid point since the item the guest had brought had numerous issues.
3 days ago
The contestant got the first part of the puzzle right but wasn't able to solve it in time.
3 days ago
"It's a lady's robe. A robe from 1750 is a very rare robe. The only other ones I know of this type, you'd have to go to Beijing," the appraiser said.
4 days ago
Harvey also got other hilarious answers, but nothing could match the woman's sass.
4 days ago
The Gronkowski family is famous for their contributions to America's sporting culture.
4 days ago