Raising Wild's Entrepreneurs Make A STUNNING Entrance | Shark Tank US | Shark Tank Global

Summary

Shelley Hyde and her sister Cara Haw, from St. Clair, Florida, pitch their swimsuit company, Raising Wild Sharks, on Shark Tank, seeking $100,000 for 20% equity. They created swimsuits designed for active women, offering style, comfort, and functionality with a focus on body coverage and practicality. Despite a great product and positive margins, the sharks express doubts due to limited sales and the niche market. After a tense negotiation, Barbara Corcoran offers a 50/50 deal, contingent on a price reduction and rebranding. Ultimately, the sisters agree, marking a pivotal moment in their entrepreneurial journey.

Takeaways

• 😀 The entrepreneurs, Shelley Hyde and Cara Haw, are from St. CLA, Florida, and are seeking $100,000 for 20% equity in their swimsuit company, Raising Wild Sharks.
• 😀 Their company was created to address the needs of women who want swimsuits that are functional, fashionable, and provide better coverage, especially for active women and mothers.
• 😀 Raising Wild Sharks offers swimsuits designed with better body length and booty coverage to allow free movement, even including nursing-friendly options.
• 😀 Shelley and Cara come from a large family of 12 siblings and have used their personal experience as mothers and businesswomen to design the product.
• 😀 The swimsuits are priced between $138 and $156, with an average cost of $38 per suit, resulting in a high margin of around 250%.
• 😀 Their company has made $130,000 in total sales so far, and their main marketing method has been through social media, targeting direct-to-consumer sales.
• 😀 Despite modest sales, the entrepreneurs believe their business has the potential to grow significantly with proper funding and strategic marketing.
• 😀 Several sharks are skeptical about the business’s scalability and sustainability, particularly because of its narrow niche focusing on mothers.
• 😀 One of the sharks, Barbara, offers to take 51% control of the business in exchange for the investment, contingent on reducing the price of their suits to $99 each.
• 😀 After some negotiations, Shelley and Cara counter with a request for 35% equity for the same $100,000 investment, but ultimately agree to a 50/50 split with Barbara's involvement.
• 😀 Barbara emphasizes the importance of her experience in guiding the business, highlighting that the value of the investment is not just in the equity but also in the strategic guidance she can offer.

Q & A

What is the name of the company that the sisters are pitching?

The company is called 'Raising Wild Sharks'.

What are the founders' names and where are they from?

The founders are Shelley Hyde and Cara Haw, and they are from St. Clair, Florida.

How much funding are the sisters seeking, and what percentage of the company are they offering in exchange?

They are seeking $100,000 for 20% of their company.

What is the main problem the company’s product is solving?

The company is addressing the need for swimsuits that offer both functionality and style for women who are no longer kids, particularly mothers. The suits provide better fit, fashion, and freedom of movement.

What makes 'Raising Wild' swimsuits unique compared to other brands?

Raising Wild swimsuits stand out due to their added length and coverage, which offer more freedom of movement. They also feature nursing-friendly designs and come in flattering cuts and colors for various body types.

What has been the primary marketing strategy for Raising Wild?

Their primary marketing strategy has been through social media.

How much do the swimsuits cost, and how does that compare to the industry average?

The swimsuits range between $138 and $156, which is significantly higher than the average swimsuit price of about $60.

What are the company's total sales to date?

Their total sales so far are $130,000.

What is the main challenge in scaling the company according to the investors?

The main challenge is that the company’s niche market (moms) may be too narrow for large-scale growth, and expanding too quickly could overwhelm their resources and hurt the brand.

What offer does Barbara make to the sisters, and what are the terms?

Barbara offers to take 51% of the business for $100,000, with the condition that the swimsuits are sold for $99 and that each model suit is named after one of their sisters.