Shark Tank Episode 406 – Eco Nuts - Environmentally friendly, 100% natural soaps and cleaning products. the product is harvested annually and available in multiple locations around the world providing an endless supply.
The Entrepreneurs:
Mona Weiss: Appeared on Sesame Street as a child.
Scott Shields
Company: Eco Nuts
Initial Request: $175,000 for 15% equity
Eco Nuts Niche:
Environmentally friendly cleaning products including packaging.
Eco Nuts Products:
Eco Nuts Laundry Soap made organically with a berry found in the Himalayas. According to Mona, they have already captured 90% of the Soap Berry Market in the past three years.
Eco Nuts Available Products:
- Dryer Sachet
- Natural Vegan Lip Balm
- Soap Nut Body Bar Soap
- Natural Linen Spray
- One year of award-winning certified organic laundry only $34.95
Sales: $100,000.00 from previous year and current year sales (2012) were expected to reach $250,000.
Eco Nuts Marketing Strategy:
Leveraging Social Media to attract customers
The Sharks Response:
Kevin O’Leary – he’s out. A valuation over a million dollars for a company that has captured 90% market share and has sales of $250,000 doesn’t make for a significant opportunity in the investment world.
Daymond John – Scott claimed this business is in a million dollar market, after Mona claimed they have 90% of the market share. The numbers aren’t even close. He’s out.
Robert Herjavec – He thinks Mona and Scott should have known the numbers before coming in, but he likes the business. He thinks it has potential and offers to give them $175,000 for 50% of the company. He’s out after Mona reacts to his offer. She thinks he needs to be working 16 hours a day on her company for that deal. Robert schools Mona, (insert comments)
Mark Cuban – He’s out because he doesn’t like the marketing strategy both Mona and Scott are using.
Barbara Corcoran – She’s out, but thinks they are a great couple. She asks why they haven’t married yet, and thinks they should. Somehow this doesn’t sit well with some viewers, but the pot is stirred even more when Kevin O’Leary offers to officiate a marriage between Mona and Scott while on set. The couple reject that offer, and continue to execute on their current marketing strategy.
Eco Nuts Media
Website: http://EcoNutsSoap.com
Facebook: https://www.facebook.com/EcoNuts
Twitter: https://twitter.com/econuts
Pinterest: http://pinterest.com/econuts/
Shark Tank Episode 406 Info
Mona Weiss and Scott Shields appeared in Shark Tank Season 4, Episode 406, Week 6. This episode is published on 2012.10.19 and replays on 2013.03.07.
Other businesses appearing in episode 406 are Cousin’s Main Lobster, Freaker USA, and Pro-NRG. KissSTIXX provided updates on what happened after their Shark Tank Appearance.
