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Thinking about pitching your business on ‘Shark Tank’? 10 surprising rules you probably didn’t know

"I hate the back story ... because it's usually a way to hide the realities of the business," Mark Cuban shared.

'Shark Tank' continues to be one of the most popular business television shows. Every year, we witness several aspiring entrepreneurs pitching their business ideas in front of the Sharks, including Mark Cuban, Lori Greiner, Kevin O'Leary, Robert Herjavec, Barbara Corcoran, and Daymond John on the ABC business program. All the budding entrepreneurs pull out all the stops to impress the Sharks and bag a deal in their kitty. For those wondering, let us share with you that the entrepreneurs appearing on the show have to follow certain rules and regulations. Keep scrolling to learn some behind-the-scenes facts.

Fill out an online application 

The first stage of the casting process for 'Shark Tank' involves filling out an online application. At first, all the candidates eager to make an appearance on the business program have to provide their basic information to the makers, including a written, detailed description of their business as well as a photograph of their product. Each year, the show receives between 35,000 to 40,000 applications, and only 1,000 make it to the second round.

Must be at least 18 years old

The fans of the show know that many children appear on 'Shark Tank.' The eligibility requirement for 'Shark Tank' is that you must be 18 years or older as of the registration date. For the unversed, let us share with you that if any individual below the age of 18 wants to present their innovative product before the esteemed Sharks, then either a parent or a legal guardian will have to apply on their behalf. 

No politicians allowed 

There is no room for politicians on 'Shark Tank.' Yeah, you read that right. According to the application, any individual who shares a connection with the public office will not be allowed to present their product on the show. In addition to this, the applicants also need to agree to a special condition, and that's to refrain from becoming a political candidate for at least one year after the final episode of their season airs.

Undergo a background check

The makers of the show 'Shark Tank' are pretty serious when it comes to checking the background of the contestants applying for the show. Any applicant with a criminal history will not be allowed to appear on the show. In the last 10 years, not a single individual who has been found guilty of a criminal offence has been a part of 'Shark Tank.' In simple words, if you have a criminal record of any sort, then you can't join 'Shark Tank.'

Don't contact a Shark before taping

Companies aren't supposed to reach out to any of the investors beforehand. So, if you want to get cast on the show, sliding into Cuban's DMs won't help you. While having a conversation with Medium in 2016, Dave Vasen, a former contestant of 'Shark Tank', shed light on his experience on the show and explained, "When you walk down that hallway, the sharks are learning about you and your business for the very first time."

Being cast doesn't guarantee being on television

The business owners are informed in advance that even if they get cast, there is no guarantee that they will be featured on television. During a 2019 interview with USA Today, executive producer Clay Newbill candidly spoke about the chances of entrepreneurs making it to television and shared, "This season, the show filmed just 158 pitches, and will air only 88 of them, four each episode.  So even getting into the tank is no guarantee of TV glory."

No second chances are given

There is no concept of second chances on 'Shark Tank.' Each entrepreneur gets only one chance to present their business idea. During the same interview, Newbill shared, "If you go out there and forget something, there are no do-overs. We don't stop rolling until a few minutes after you've exited the set. The only time we'll stop is if somebody's mic goes out or a light goes out, but that happens once or twice [per season]."

Filming can take up to 2 hours

The eight-minute segment that the viewers see on their television screens is the condensed version. The producers cut the unnecessary parts of the pitches, like curses and moments where the Sharks yell at each other. During an interview with AOL, John spoke about the filming and quipped, "I think the producers Mark Burnett, Clay [Newbill] and everybody do a great job because those pitches can sometimes run two hours long or an hour long and they accurately cut it in eight minutes, put some music right before, Kevin is about to say something rude to somebody and [then] they go to commercial."

Sharks tend to be more lenient with small asks 

It appears that Sharks are not very rigid when it comes to small deals. In a February 2017 interview with AOL, Cuban revealed, "If it's a relatively small deal, let's say $50,000 or $70,000, a lot of money, but relatively small compared to some of the big ones we make, and there's a kid or somebody that's a feel good story, Daymond hopes that nobody takes it and then he's waiting for them to walk out the door so he can go 'Dang it, wait a minute, I'm going out there to get them.'" 

Emotional backstory isn't enough to land a deal

Some Sharks may get moved by emotional stories of the contestants, meanwhile others lose interest by hearing sob stories. While having a chat with ABC News in December 2013, Cuban revealed that he gets immediately turned off after hearing a backstory. Then, Cuban said, "I hate the back story ... because it's usually a way to hide the realities of the business. The more you try to create stuff to kind of, you know, divert my attention, the worse it is."