Jessica Haynes recently graduate from Southern Arkansas University with her Master’s in Business Administration, but not before creating a business plan for JesKa Shoe Company, a class project. Everybody encouraged her to try out for Shark Tank, so she did. She’s on episode 420.
Broken Heal Leads To Shark Tank
Jessica landed her idea when after breaking a heal on her favorite shoes. It turns out, heals wear out before the rest of the shoe and is often the first part of the shoe to wear out.
Her passion led to an interchangeable heel in different sizes, shapes, colors, and patterns. She’s even added attachable accessories to the shoe. Jessica’s classmates and the faculty encouraged Jessica entered JesKa Shoe Company in the Donald W. Reynolds Business Plan Competition and won!
“Cinderella is proof that one pair of shoes can change your life”
She’s asking the Sharks to invest $70,000 for 30% of her company. Robert Herjavec thinks she’s got a great idea, after she points out Cinderella did pretty well with one shoe. So far, One Sole has done well, but is Jessica’s shoe too pricey?
JesKa Shoe Company has yet to manufacture a shoe, but they do have a prototype at $16,000. That’s one expensive shoe! Jessica said her shoes are in pre production, likely a new term for “I need money to move forward.”
Over 30,000 Shark Tank Casting Applications were submitted, and JesKa Shoe Company is the third interchangeable shoe company to appear on the show. Dominique Bartique presented One Sole and is doing fantastic with her quick change shoes. Boot Illusions is the next company to pitch a convertible shoe with a Boot Slip Cover designed to fit over high heeled shoes.
Jessica faces a tough pitch, having no sales, only a prototype product and a business plan. She’s asking for $70,000 and giving up 30%. If the offer comes, look for it to be for more than half of her company.
Tune in to ABC and Watch Shark Tank Episode 420 or catch it on Amazon Video.
About JesKa Shoe Company
Website | Facebook Fan Page | Twitter
•Product: Interchangeable High Heel Shoes – Estimated Price point $200
•Status: Pre-Production with $16,000 Prototype Shoe
•Outside Investors: Friends and Family
•Awards and Recognition: Winner, Donald W. Reynolds Business Plan Competition
•Location: Arkasnas
About Inventor Jessica Haynes
•Hometown: Magnolia, Arkansas
•Education: MBA: Southern Arkansas University
•Idea Inspiration: Breaking a heel on her favorite pair of shoes
About JesKa Shoes Shark Tank Pitch
•Investment Needed: $70,000
•Initial Equity Offer: 30%
•Investment amount by Shark:
•Mark Cuban: Out
•Daymond John: $70,000/70% Equity
•Kevin O’ Leary: Out
•Barbara Corcoran: Out
•Robert Herjavec: Out
