Why didn't SneakERASERS founders take $200k deal? Fans say duo messed up 'trying to nickel and dime' Mark Cuban

Cuban drove a hard bargain, but in the end SneakERASERS went in a different direction


                            Why didn't SneakERASERS founders take $200k deal? Fans say duo messed up 'trying to nickel and dime' Mark Cuban
Mark Cuban and the founders of SneakERASERS, Chris Pavlica and Kevin Consolo, as seen on Shark Tank on ABC (@sharktankabc/Instagram)

The sharks on 'Shark Tank' always drive a hard bargain -- picking the right shark to invest in your business is far from easy, seeing that it's not always about the money. Each shark comes with their own expertise and insight, it all boils down to one that will not only help you with money but also enable you to grow as a business across the board. 

For founders Chris Pavlica and Kevin Consolo, the duo had to make a hard decision when it came to picking out the right shark for their product, SneakERASERS. As the duo explained, looking good and well kept is something people often focus on, but keeping your sneakers squeaky clean is always a task. But with the duo's product, clean white shoe soles are just a scrub away.

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The product comes in two types -- the on-the-go, pre-moistened singles, which allow you to clean and fix your shoe soles and mid-soles any time, anywhere. The other option is the 'just add water 10-pack,' which are reusable versions and are better suited for tougher jobs and stains.  

Pavlica and Consolo came onto the show, asking for $200,000 for 8% equity in their company. The duo also revealed that they retail at Walmart and have five patents pending, although one got knocked off -- by their own product! With nine uses per product and what sounded like a clear demand for a handy little invention such as this, the next big question was how much did the company make so far?



 

The duo revealed that in 2019, they finished at $202,000. However, a year to date, they were over $1.1 million and were slated to make $1.8 million by the year-end.

Barbara Corcoran was out and didn't make them an offer -- for her, they were inventors and that often meant the profit made off one product got invested in another, resulting in an endless cycle. However, the other sharks went in. Kevin O'Leary was the first to make an offer -- 15% for $200,000. Up next was Lori Greiner and Alex Rodriguez, who decided to make a combined offer of 20% for $200,000. Greiner's reasoning was simple -- they needed to focus more on e-commerce, seeing that they have so much untapped potential. Rodriguez repeated the same sentiment and said that taking their offer meant they'd also have him backing their business, seeing that he understands the target audience, not only for SneakERASERS, but for their other potential products as well. And with Greiner, they get someone to look into the e-commerce element of the business. All eyes were now on Mark Cuban, who swooped in and made an interesting offer himself $200,000 for 12.5% of the company. The duo considered it for a while and countered with $200,000 for 10%, however, Cuban didn't take the bait. 

Fans and Rodriguez himself took to Twitter to dish out how they felt about the product and the deals. "I always hated when I scuffed up my new shoes or even worse when my cleats got dirty! I wish we had @SneakERASERS in our @yankees clubhouse; George Steinbrenner wouldn’t let us play in dirty cleats. @abcsharktank #SharkTank @barbaracorcoran @mcuban @kevinolearytv @lorigreiner," said the former Major League Baseball player, as he also cited this to be a reason to invest a product like this on the show. "The right strategy would be to go with @LoriGreiner and @AROD ‘s deal #sharktank" said a fan. 



 



 

Time was clearly running out and a decision had to be made. Rodriguez decided to give it one last shot and make a final argument before taking his offer off the table, only to have the business owners jump in and take the deal. They both seemed pleased with the decision, although it was nowhere close to their original offer, seeing that they now had two big names backing them up, both experts in the fields that SneakERASERS could benefit from.

Fans agreed that it was the right decision and moreover, were all set to try the product themselves. "They almost f**ked that up by trying to nickel-and-dime Cuban. Good thing they figured it out before Lori and A-Rod went out. Good for them. #SharkTank" added a fan. "i decided that i am buying this product SneakErasers immediately after they said it can go for nine pairs of shows per eraser #SharkTank" tweeted another.

"Looking to my 15 year old sneakerhead to tell me if Sneakerasers is a good product idea.... #SharkTank" said a fan. "@LoriGreiner @AROD #sneakerasers CONGRATS y’all!! My fellow #Buckeyes! My heart is so full for you guys! This is going to be HUGE!! My baby brother was a clean shoe fanatic! He would have LOVED this! I’ll be a customer! I LOVE WHEN DREAMS COME TRUE!! #sharktank " added another.



 



 



 



 

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