Selling almost at cost to help farmers, this founder’s heartfelt pitch won ‘Shark Tank’ investors over
‘Shark Tank’ has featured several contestants, but only some left a lasting impression. When Tree T-PEE founder Johnny Georges pitched the sharks his product, it wasn’t the numbers that got one of them to say yes. It was Georges’s intention that prompted guest investor John Paul DeJoria to seal the deal without negotiation. Kevin O'Leary was also on the investors panel but saw the contestant’s pitch through a business point of view and straight up denied investing. Georges’ Tree T-PEE was a water conservation device for farmers that he developed with his late father. He asked for $150,000 in return for 20% of his company.
The contestant explained that every farmer should have a T-PEE as it saves them money and energy. He had sold 127,500 T-PEEs for $4.50 each, at a production cost of $2.95 each. The margin is extremely low for one founder to earn a profit, let alone two. “I can’t get involved with you because there’s not enough margin for me as a distributor,” O'Leary said. The investor explained that he should at least sell his product for $12 to make space for more distributors. Since the deal didn’t seem viable, he opted out. During the pitch, the contestant stressed the point that farmers can’t afford high pricing.
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This highlighted his genuine desire and selfless dedication to the well-being of farmers, something Georges admitted his father had inculcated in him. DeJoria was moved by the contestant's passion and decided to match his ask. “I’m gonna give you everything you are asking for,” the investor said. “What you are doing is right, and you deserve a chance to make it big and do a lot of good,” the guest investor said. “I’d like to be your partner. I like everything you stand for, man,” he added. After the deal was done, Georges credited his late father for teaching him everything while choking in tears.
“He made me who I am,” he said through his tears. “He was hard on us, but nobody owes you nothin'. Life is what you make it. He taught me that,” Georges added. Everyone in the room had tears glistening in their eyes after hearing his words. In an interview with Business Insider, O'Leary admitted that it was a “powerful” moment in the show. “No one's going to forget it. Every Shark had a tear in their eye, including me,” he added. He described it as the most emotional moment in the show’s history. “It actually is the reason the show won an Emmy,” he told the outlet.
O'Leary recalled that the show and the judges were drawn to Georges’ story, whose father died inventing the product. He could have easily tripled the price and added more value to the product, but the contestant’s sole purpose was to support farmers and their livelihood. The investor admitted that it was a “powerful thing” to want to do, but it can’t be considered a business. “He is a great soul, that man. I'm not sure he is a great businessman,” O'Leary added.
