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OnShark Tank,entrepreneurs bring their best pitches to win over the Sharks, but not every deal goes as planned. Mark and Amber Schaub, creators of a children’s fashion line, entered the Tank with high hopes, asking for a significant investment to help grow their brand. However, their negotiation took an unexpected turn when Lori Greiner made a deal that caught many by surprise.
With a hefty loan offer instead of a standard cash investment, the Schaubs were left to decide whether to take it or leave it. Not only that but even Mark Cuban had a few words to add to the entire matter.
Why did Mark and Amber Schaub accept Lori Greiner’s deal onShark Tank?
OnShark Tank,entrepreneurs often face intense negotiations with investors looking to strike the best deal. For Mark and Amber Schaub, the owners of RuffleButts, a successful children’s fashion brand, their pitch didn’t end as expected. The couple asked for $600,000 for a 7% stake in their business, backed by impressive sales numbers.
However, rather than offering them the cash they requested,Lori Greinermade a surprising offer which was a $600,000 loan for a 9% stake in the company. The Schaubs had no debt, were profitable from the start, and showed they were capable of generating substantial revenue, with projections of up to $5 million in 2013 viaThe State Journal Register.
However, they explained that they didn’t necessarily need the money but rather wanted a Shark to contribute their invaluable expertise. This request shifted the focus away from their strong financial position and made them more eager to give up equity for a partner’s guidance. While the Schaubs were taken aback, Greiner emphasized the value of her mentorship.
“I’m going to say something rude to you”: The Shark Tank Pitch That Led to a Brutal War of Words Between Robert Herjavec and Lori Greiner
She claimed,“It’s more than a loan, it’s a lifetime of experience,”as she played on the couple’s desire for a partner.Mark Cubandidn’t hold back his opinion, saying,“Lori, that’s the worst deal you’ve ever offered,”adding,“When they wake up, they’ll realize they messed up.”Despite the warning, the Schaubs accepted the deal, hoping Greiner’s expertise would help take their business to the next level.
How did Lori Greiner’s love story shape her career success?
Lori Greiner is widely knownfor her sharp business mindand entrepreneurial success. However, her journey to success has been shaped not just by her own efforts, but by the support of her husband, Daniel Greiner. The two first met at a local sports bar while she was a student at Loyola University.
Griener reflected on their connection in her 2014 bookInvent It, Sell It, Bank It!viaAOLand added:
He’s cautious — not at all the type to push the envelope. And yet, in this instance, he was on board from the minute I told him about my idea.
That idea was a jewelry organizer made of acrylic plastic. Encouraged by her husband, she took a bold step and borrowed $120,000 against their house to turn her idea into reality. Daniel Greiner’s support didn’t stop there and when she launched her QVC showLori Greiner’s Clever and Unique Creations, her product took off.
“Are you gonna do the corny thing”: Kevin O’Leary and All the Sharks Are Tired of Lori Greiner’s 1 Tradition That Is Not Even Bad to Begin With
Orders flooded in, and the couple worked together to fulfill them. The success was so great that he left his job as a controller to join his wife full-time, becoming vice president of her business, For Your Ease Only. Their strong partnership is not only a testament to their love but also to their shared work ethic.
You can watch all the seasons ofShark Tankon Peacock.
Sakshi Singh
Articles Published :1436
Sakshi Singh has written over 1,300 entertainment articles, mostly about Netflix shows and reality TV. She’s spent the last two years covering everything from surprise engagements to shocking eliminations and previously wrote for Essentially Sports in their Netflix Junkie division. A self-proclaimed reality TV addict, Sakshi has watched all 48 seasons of Survivor and never misses a new dating or competition series. She loves watching how strangers meet, fall in love, team up, or betray each other - it’s the mix of strategy and drama that keeps her hooked. When she’s not glued to a reality show, she’s usually watching a crime thriller or tracking the next big streaming hit.
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