Here's why Mark Cuban called this business that sells beard ornaments 'un-freaking-believable.' (via CNBCMakeIt)
On Sunday's episode of "Shark Tank," the Sharks circled around another unique company, one that sells Christmas ornaments — for beards.Beardaments founder Jason McOmber, who entered the Tank asking for $150,000 for 10% of the business, came up with the idea at a Christmas party.
"I decided to hook some stuff in my beard after a couple drinks," McOmber said in the Tank. "Everyone loved it and thought it was funny. So that next year, we started to sell it.""I listed them on Etsy, eBay, a couple places online, and sold out of those thousand packs in a couple weeks," he told the Sharks.
"In our first year, we did $80,000 in sales. The second year was about $155,000 in sales and last year was $462,000 in sales. I'm projecting to do $600,000 to $700,000 in sales this year.""You've got to be kidding," Barbara Corcoran said."Jason, you're crushing it. This is the ultimate U-F-B," Cuban said. "This proves that even the corniest ideas can make money if implemented correctly.
"You're crushing it, just put that money in your pocket. This would be a dream for most people. I just don't see how it's investable for me in a way that'd work for both of us," he said."If I give you $150,000, how do I get it back? So crazy," O'Leary said. "It kind of reminds me of my Potato Parcel deal. Everyone thought it was a joke, but the guy's making a fortune.
In the end, O'Leary then offered McOmber $150,000, but for a 25% stake, and the Beardaments founder accepted.
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