Married couple fails to hook any ‘Shark Tank’ judge — until Richard Branson steps in with a twist
Going camping means a lot of work, and most of the time, it's risky business. But Richard and Juli Rhett had a different approach. In Season 9 of ‘Shark Tank,’ the couple pitched high-quality camping gear. They were seeking $175,000 for 15% equity. With a background in humanitarian work, Richard invented a versatile hammock shelter during a trip to Central America.
According to Shark Tank Recap, the couple opened with a personal story, hoping to inspire the judges with their unique product. Richard said he built his first hammock during a 2009 mission to rural Honduras while helping underserved communities. He made it out of necessity, the community lacked safe hammocks. When he got back home in 2010, he started working on a serious prototype, using a second-hand sewing machine. He named the company Sierra Madre after the mountain range that inspired him. The range extends from Arizona to Honduras, spanning diverse landscapes and cultures.
Richard also explained that Sierra Madre Research has a social mission beyond selling outdoor gear. A portion of the company’s sales goes to supporting clean water initiatives in rural Central America. During the pitch, the couple introduced their flagship product, the Nube Shelter, a suspended tent offering an off-the-ground camping experience.
This system includes a canopy, bug netting, a designated gear storage area, and a hammock. The full setup starts at $349, with an insulating sleeping bag available for $249. The couple said their product had received positive reviews, and they were seeking investment to expand into major retail and scale production. Juli said the company made a $210,000 profit in 2017 and had $400,000 in sales year-to-date.
Still, the Sharks showed no interest in the product. Daymond John was unable to envision a clear role for himself in the growth of the company and opted out of the deal. At the same time, Lori Greiner felt that the hammock market was too competitive, stepping out as well. Following them were Robert Herjavec and Mark Cuban, who felt the same as Greiner. However, guest Shark Sir Richard Branson was clearly impressed with the product and the social media impact the company had. He offered the entrepreneurs $175,000 for a 15% equity, which was the exact deal the couple was seeking. To everyone’s intrigue, the guest Shark made a clause in this deal. He asked to direct all of his profits from the investment to charitable causes. The couple happily accepted and shook hands with guest Shark Branson.