The Richest Sharks Fight To Get A Deal With Locker Board | Shark Tank US | Shark Tank Global

Summary

Eleven-year-old inventor Carson Cropful from San Clemente, California, presents his eco-friendly 'Locker Boards' on Shark Tank. These compact, 16-inch skateboards are made from recycled materials and fit in backpacks and lockers. Carson has sold 231 boards, generating $10,000 in revenue. He seeks $60,000 for 15% equity to expand production and enhance his online presence. Despite offers, he chooses to partner with Sir Richard Branson for $65,000 in exchange for 20% equity, valuing his business at $325,000.

Takeaways

• 🏄‍♂️ Carson Cropful is an 11-year-old inventor, skater, and surfer from San Clemente, California.
• 💡 His first invention, Street Tubes, allows users to surf anywhere, anytime, mimicking the feeling of being on a surfboard.
• 🔄 His second invention, Locker Boards, are made from recycled skateboard decks, are only 16 inches long, and are designed to fit in backpacks and lockers.
• 🌍 Locker Boards are environmentally friendly, contributing to a sustainable product line.
• 💼 Carson is seeking $60,000 for 15% of his company and has already made $10,000 in revenue through online sales and social media.
• 🛍️ The manufacturing of Locker Boards has transitioned from a backyard setup to a partnership with Madrid Skateboards.
• 📈 Carson has sold 231 skateboards, with the cost to make one being $13 and selling them for $99 retail.
• 🎓 A parallel is drawn between Carson and a young Richard Branson, emphasizing the value of doing things independently.
• 🤝 Two offers are made to Carson: one for $60,000 for 20% equity and another for $65,000 for 20% equity, with additional support for social media growth.
• 📱 Sir Richard Branson also offers a $60,000 loan at an 8% interest rate, acknowledging the potential of Carson's business without immediate equity demands.

Q & A

What is Carson's first invention called and what does it do?

Carson's first invention is called Street Tubes. It allows one to surf anywhere and anytime because it looks and feels like you're surfing on an actual wave.

What was the problem Carson faced in middle school that led to his second invention?

Carson faced the problem of not being able to fit his skateboards in his school locker, which led him to create a smaller skateboard that could fit inside a locker.

What are Locker Boards and what material are they made from?

Locker Boards are handmade and reshaped from recycled skateboard decks. They are only 16 inches long, making them easy to fit inside backpacks and lockers.

How does Carson's Locker Board help the environment?

Locker Boards are made from recycled skateboard decks, which contributes to sustainability and reduces waste.

What is unique about the design of Locker Boards that allows for tricks to be performed?

The square shape of Locker Boards, with its corners, allows users to perform tricks as their feet can stay on it without it being too wobbly.

Where does Carson source the old skateboards for his Locker Boards?

Carson sources old skateboards from Van Skateboards through their monthly recycling program at two of their skate parks.

How much revenue has Carson made since he started selling Locker Boards?

Carson has made ten thousand dollars in revenue since he started selling Locker Boards.

What is the cost breakdown for making one Locker Board, and how much does Carson sell them for?

The cost to make one Locker Board is thirteen dollars, and Carson sells them for ninety-nine dollars.

How does Carson manufacture his Locker Boards, and who is his manufacturing partner?

Carson's Locker Boards are manufactured by Madrid Skateboards. They handle the manufacturing process, and Carson adds the trucks and wheels.

What is the main reason skaters are loyal to certain skateboard brands, and how does this affect Carson's business?

Skaters are loyal to brands due to brand loyalty. This affects Carson's business as he needs to establish his brand and product as authentic and desirable in the skateboarding community.

What offer does Sir Richard Branson make to Carson, and what is Carson's response?

Sir Richard Branson offers Carson sixty-five thousand dollars for twenty percent of his company. Carson accepts the offer, seeing the value in the partnership and the potential for growth with Sir Richard's support.

Outlines

00:00

🛹 Young Entrepreneur Introduces His Skateboard Inventions

Carson, an 11-year-old inventor, skater, and surfer from San Clemente, California, introduces his inventions, the Street Tubes and Locker Boards. Street Tubes allow for surfing on any surface, replicating the feeling of being on a wave. Locker Boards are a unique, compact skateboard designed to fit in backpacks and lockers, made from recycled materials. Carson seeks $60,000 for 15% of his company and has already made $10,000 in revenue. He explains his manufacturing process, which involves a partnership with Madrid Skateboards, and his sales strategy, which includes online and social media marketing.

05:01

💼 Shark Tank Negotiations and Investment Decisions

The second paragraph delves into the negotiations between Carson and the investors on the show 'Shark Tank'. Carson discusses his future aspirations for his brand, aiming to be present everywhere. The investors express their opinions on his business, with some choosing not to invest due to the early stage of his company and the potential for growth without giving up equity. Sir Richard Branson offers $65,000 for 20% equity and proposes to help with marketing and social media presence. Another investor offers a loan instead of equity investment. The paragraph concludes with Carson's decision to partner with Sir Richard Branson, reflecting his ambition and the sharks' admiration for his entrepreneurial spirit.

Keywords

💡Invention

Invention refers to the creation of something new and innovative. In the context of the video, Carson Cropful, an 11-year-old inventor, introduces his inventions: 'Street Tubes' and 'Locker Boards.' These inventions are central to the video's theme, showcasing the ingenuity of a young entrepreneur. 'Street Tubes' allow for surfing anywhere, anytime, while 'Locker Boards' are a compact version of a skateboard designed to fit inside lockers and backpacks.

💡Surfing

Surfing is a water sport that involves riding on the forward or deep face of a moving wave. The video's theme revolves around Carson's passion for surfing, which inspired his first invention, 'Street Tubes.' This invention mimics the sensation of surfing, allowing users to experience the thrill of the sport in non-traditional environments.

💡Recycling

Recycling is the process of converting waste materials into new materials and objects. Carson's 'Locker Boards' are made from recycled skateboard decks, emphasizing sustainability and environmental consciousness. This concept is integral to the video's message, highlighting how innovation can contribute positively to the environment.

💡Skateboarding

Skateboarding is a sport and a recreational activity that involves riding and performing tricks using a skateboard. The video features 'Locker Boards,' a unique type of skateboard designed by Carson to be compact and portable. Skateboarding is central to the video's narrative, as it is the foundation for the invention and the target market for the product.

💡Entrepreneurship

Entrepreneurship is the process of designing, launching, and running a new business. Carson, as an 11-year-old inventor and entrepreneur, embodies this concept. His journey of creating and marketing his inventions is a testament to young entrepreneurship and is a key theme of the video.

💡Investment

Investment in the video refers to the act of putting money into a business or project with the expectation of generating income or profit. The Sharks in the video consider investing in Carson's company, evaluating the potential return on investment and the viability of his business model.

💡Shark Tank

Shark Tank is a reality TV show where entrepreneurs pitch their business ideas to a panel of investors, or 'sharks,' who may choose to invest their own money in exchange for equity. The video is a transcript from the show, where Carson presents his inventions to the sharks, seeking investment and guidance.

💡Sustainability

Sustainability refers to the ability to maintain a certain process or state in the long term. Carson's 'Locker Boards' are made from recycled materials, aligning with the concept of sustainability by reducing waste and promoting the use of eco-friendly materials in product manufacturing.

💡Patent-Pending

Patent-pending indicates that an application for a patent has been filed but not yet granted. Carson mentions that his product is patent-pending, which signifies his intention to protect his invention from being copied or used without permission, a strategic move in business and innovation.

💡Manufacturing

Manufacturing is the process of producing goods through the use of machinery, tools, or manual labor. In the video, Carson discusses his partnership with Madrid Skateboards for manufacturing his boards, illustrating a key aspect of scaling a business from a small-scale invention to a marketable product.

💡Brand Loyalty

Brand loyalty refers to the customer's commitment to repurchasing products or services from a preferred brand. The video touches on the importance of brand loyalty in the skateboarding community, where customers are likely to buy from a trusted brand rather than an unknown or 'fake' one.

Highlights

11-year-old inventor Carson Cropful introduces his first invention, Street Tubes, which allows for surfing anywhere anytime.

Carson's second invention is a 'Locker Board', a compact skateboard designed to fit in school lockers and backpacks.

Locker Boards are handmade from recycled skateboard decks, promoting environmental sustainability.

Carson demonstrates the Locker Board's functionality and its ability to perform tricks due to its square shape.

He sources old boards through a monthly recycling program at two skate parks, emphasizing a circular economy.

Carson has been selling Locker Boards online and through social media, generating $10,000 in revenue.

The cost to make one Locker Board is $3 for the deck, now reduced to $13 with a partnership with Madrid Skateboards.

Carson is selling the Locker Boards at a wholesale price of $52, aiming for a retail price of $99.

Production has been set up in a backyard shop by Carson's father, allowing for home-based manufacturing.

An investor shares his own story of dropping out of school at 16 to focus on his business, later returning to education.

Carson has a patent-pending status for his Locker Board, protecting his innovation from imitation.

Investors express admiration for Carson's work but advise him to stay in school and learn to delegate.

One investor offers $60,000 for a 20% stake in the business, aiming to help with manufacturing and social media growth.

Another investor, Sir Richard Branson, offers $65,000 for 20%, recognizing Carson's potential and offering mentorship.

Carson is advised against selling equity at this early stage, with the suggestion to consider a loan instead.

Sir Richard Branson shares his own experience of wanting to do everything himself and the importance of delegation.

Carson ultimately accepts Sir Richard Branson's offer, valuing the mentorship and investment in his company's growth.

The show concludes with encouragement for viewers to subscribe to the Shark Tank YouTube channel for updates.

Transcripts

[Music]

foreign

[Music]

ER who solved the problem he had with

his favorite hobby

[Music]

sharks my name is Carson cropful I'm 11

year old inventor skater and Surfer this

is my friend Sierra hi sharks hi Sarah

hi Sarah I'm his mom Carrie and we're

from San Clemente California I'm seeking

sixty thousand dollars for 15 of my

company you just saw my first invention

it's called Street tubes it lets Rya

surf anywhere anytime because it looks

and feels like you're totally gangtubed

my second invention was when I first

started middle school and it was the

first time I ever had a locker my locker

was decked out and awesome but none of

my skateboards would fit in it so I

decided what the heck why not just make

one my own this is a locker board Locker

boards are handmade and reshaped from

recycled skateboard decks at only 16

inches long they fit easily inside of

backpacks and lockers and they're good

for the planet thanks Mom let's pass out

some samples

Robert get on the board trying to get on

the board thank you

great thank you thank you oh Carson love

the hair thank you very cool thank you

sharks bye bye good job Sierra bye CeCe

great job oh that's cool

sharks the benefit of you investing in

my company is that you'll be a part of

something that has been inspiring people

all over the world I've been surfing

with sharks since I was five years old

so go ahead hit me with some questions

so many Escape boards this big is it or

uh yes is this the first time anyone's

ever cut it down to size it's the only

skateboard that fits inside a backpack

but I've seen small ones before what's

unique about it uh they're good for the

planet easy to take anywhere and they're

super fun to ride and also the square

shape lets you still do tricks because

of the corners and your feet can stay on

it and it won't be too wobbly where are

you getting the old boards from uh van

skateboards has a monthly recycling

program for me at two of their skate

parks and I get about 50 boards a month

from them and they give them to you or

right now you you're buying them give

them to me are you selling any today for

nine months I have been selling all over

the country how are you selling it

across the country online social media

really he's made ten thousand dollars in

Revenue since uh he started so Sierra

your girlfriend

[Music]

[Applause]

do with the money if somebody puts it up

manufacturing upgrading my website

buying uh tricks and wheels hardware and

bulk how many skateboards have you sold

I have sold 231 what does it cost you to

make one so the deck cost me three

dollars but now Vance put me in touch

with their manufacturer Madrid

skateboards so that cost thirteen

dollars and I'm now selling them for

fifty two dollars wholesale wow

wholesale wholesale retail what's the

price

um 99 where do you make it now my

husband set up a shop for him and he's

been making them in the backyard I mean

I remember when I started in business my

Headmaster called me into the study and

said look you either leave school and

you run your business or you stay at

school and you don't run your business I

was 15 I said okay I'm both I dropped

out high school when I was 16. so I

waited an extra year did you really drop

out of school yeah yeah I was a high

school dropout did you go to college

yeah I was 16 dropped out of high school

started taking graduate level classes

and got my MBA by the time I was 19

transferred those back to high school so

I could graduate from high school I'm

here Richard what was your first

sort of was the start of magazine to

campaign against the Vietnamese War that

was going on so it became a national

magazine for young people and that was

my education but look this is great but

you're going to stay at school so you're

going to have to learn to delegate

because too many people think they can

do it all themselves so Carson you said

that you had gotten some help to make

these because you can't make them

anymore What's your deal with them

Madrid skateboards and they are

manufacturing my boards doing everything

and then I just put the trucks and

wheels on how do I know there's in a

Carson in New Jersey doing the same

thing the main reason skaters by product

is from Brand loyalty when they so when

they go to buy a locker board they're

going to want a locker board not some

fake two they're really hard to make you

have to have all the right equipment all

the right Hardware in three I'm in

patent-pending status you kill it

[Applause]

listen you're amazing but

I'm not going to invest in the company

I'm out

thank you Carson where do you want to be

a year from now two years from now five

years from now I want to be

everywhere

that's a lot of places

um so it sounds like one of us what's

what's been amazing online's great

because he has much higher profit

margins but he'd also like to be in

retailers because it does give him a lot

of credibility right now he's in a

Southern California retailer Jack

surfboards he's in two of their stores

you know here's what I think you know I

would not invest in your company now

because I think that you have so much

growth in giving up 15 or 20 of your

company right now

absolutely absurd you have a lot of room

to grow and I think you'll do it without

us so I'm out

Carson I love what you're doing

I want to make you an offer

okay I'll give you the sixty thousand

dollars but I want twenty percent and my

plan is not just to help you manufacture

because you have Madrid to do that that

part's all taken care of but to really

help you build up your YouTube help you

build up your Instagram so if you want

to be my partner I'm happy to make the

investment wow what do you say

before he answers I I was going to

suggest that I was going to suggest that

I was going to suggest that you and I

work together on it nope no no all right

so what do you think you and I work

together

foreign

I'll offer you sixty five thousand

dollars for twenty percent

for twenty percent so Carson I'm Robert

I love things that are cool and fun I

really don't think you should sell any

of your business at this point because

it's just too soon I don't want any of

the equity what I'll do is I'll give you

the sixty thousand dollars as a loan

what interest rate Robert whatever eight

percent give or take right I'm offering

sixty thousand dollars for twenty

percent and Sir Richard Branson is

offering sixty five thousand dollars for

twenty percent what would you like to do

uh Richard if you're gonna invest uh how

would you help my company

oh you're going to interview

[Applause]

you've got guts guys wow when you said

you wanted to do everything I remember I

had this magazine and somebody wanted to

buy it went to lunch to sell the could

sell the company so I said I'm going to

start student Airlines I'm going to

start

um you know student record Shot student

this they got completely panicked and so

when you said you wanted to do

everything I remembered that moment when

I wanted to do everything

let me be honest I see a young Richard

Branson in you you've got a wonderful

story to tell you're very articulate the

product itself is great we'd love you to

give it a shot with us

[Music]

it's a deal

all right

great thank you thank you so much great

thank you good job good job Carson good

job thank you so much

you know wanting to do everything that

really hits home I think with all of us

it's contradictory to of course what

everyone's taught I mean think about

when we started the show nine years ago

that's the biggest changes that go

around the country yeah half the people

that come up to me are killed the kids

yeah

Richard Branson

fur and I felt like make a little bit

more

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