Next into the tank is a product designed To make a dreadful household chore Easier [Music] Hello sharks I'm Lola and I'm from Los Angeles California I'm here asking for 150 000 for 10 of my business Betty sharks Let's face it the duvet cover struggle Is real it's definitely one of the most Frustrating tasks ever first you may Have to crawl your way into your cover After that trying to line up all four Corners while somehow getting out of This maze is beyond me now your loss can Feel disoriented and almost cannot Breathe and when you finally make it out Alive you're left jumping up and down on Your bed in hopes that your comforter Will magically line up All of this sweat and hassle making your Bed does not have to be challenging Complicated or stressful there's got to Be a better way that's why I created the Easiest fastest and most user-friendly Duvet cover ever known introducing not Badly Signature Innovative duvet cover has a Three-sided opening that makes inserting Or removing your duvet a breeze like Never before Simply unzip the three sides place your Duvet on top Straighten things out the badly duvet
Cover is just very easy to use even a Child can handle it and sharks no need For crawling inside so now she's gonna Zip the duvet cover off using our Signature nylon zipper Zip Zip So no more stuff in shoving or you know Duvet gymnastics it's so easy think About how much time you saved and what You can do with that precious time so Shocks who's ready to zip up this deal With me and bring badly to bed Everywhere I have samples for you Robin thank you very much welcome Sorry thank you Mr Wonderful is getting One he is pure as the German Center oh Yeah and Damon thank you and mark thank You Lola thank you appreciate it So you sharks may not know the Difference between a blanket and a duvet Let me explain the difference well Mark Doesn't I certainly do not the duvet was First made popular in the French course In Versailles it is a down filled large Pillow and so the duvet cover allowed Them to not have to wash the down every Time they had to wash just the cover and So duvets became immensely popular with Royalty all around the world what years Were those these are back in the 1400s How old were you were you in high school I am a duvet expert Lola it looked Complicated even when she did it no that Was easy that was very easy all Complicated how would I how would I know
That from looking at the yeah Like if I'm in the store or do you only Sell this online today oh right now just Online so you have a video demonstrating What we just saw on the website yeah Absolutely yeah because otherwise why Would I know the difference because it's A demonstrable yeah So when you pick that up on the retail Shelf you look at that hopefully you Look at that label and it tells you it Has a three-sided opening it's hard to Know that though Lola is looking at it Because it's very small in the Representation and you don't have Anything there that says that okay well Lola tell us about you okay so what's Your background so equipped with a Degree in chemistry and physics I'm Originally from Nigeria so I I Immigrated to the US I ended up getting A job in uh investment banking on the Technology side and then while working Full-time I went to Colombia and got my MBA I've always had this entrepreneurial Yearning so I'm brainstorming what ideas Can I you know what can I so then I'm Like every time I have to watch my duvet Cover for a king-sized bed It's a pain and I'm not a lazy person But that was the one thing I did not Like doing I'm like no this has got to Stop there's got to be a solution to This so I looked I didn't find it so I
Decided I'm gonna make one everybody has This problem if they've ever changed Their duvet cover exactly so what does It cost you to make it and what the Units that you sold what did you sell Them at right now it's made in the U.S So our costs are very high and I know I Can get that down drastically okay so Right now it's 57.50 to make and we said Yes on average and I know I can get this Down and you sell it for what one for 130 140 average well what are your sales Okay so I'm gonna preface that with do Not judge me by myself We promise you we will not judge you by Yourselves I am going to judge you by Your sales 150 000 for 10 imputes a Million and a half dollar evaluation Because your investment banker you know That I know okay so but you know what I Wasn't gonna let Sales that are not going to be pleasing To you they're not stop me from getting Here yeah don't worry about it I'll just Tell you the sales so our revenue from 2018 because that was when we really Started to sell before that was just a Few here and there just for last year Twenty eight thousand dollars Yourself [Laughter] It's okay I've been bootstrapping on This I've spent like 91 000 all my own Money and because my budget was so
Limited it wasn't going to stop me so I I hustled you didn't hustle enough Why do you think you didn't sell more I Haven't been doing a lot of marketing Tell you what I've done right now we Have this um in a Macy's pop-up shop and I've been talking to you're in Macy's QVC and they like it enough to put it on There yeah with this packaging pop-up Shop yeah at two locations Lola this is a quality product But for me respectfully it's not a Product for me but I wish you the best I'm sorry I'm out Lola you deserve a ton of credit right You you what you've accomplished is Amazing you're Relentless this is Amazing for sales not so much yeah right But it's telling you something honestly I'm not a marketing expert but I said I'm not gonna stop you know you've got 91 000 of your own money that you've Spent you don't have enough money for Marketing You know I don't want to keep saying This but it is what it is I haven't been Able to give this product the brand Awareness that he deserves most of our Customers they find this on Google you Know and they don't even know marketing Is really a black hole if you don't Figure it out now How are you going to figure it out with The money what do you expect I've
Learned a lot I've seen a lot and then I Can also have I need help I can get help I think it's a genius idea you know You're doing something that's very Important you're saving people time Right and that's a lot of times why People purchase something I just don't Think you've figured it out yet so I'm Out oh okay I Um There's great saying I forget where I Saw it every time you see somebody with A small business yeah somebody made a Courageous decision yes so I admire your Courage thank you you are in love with The Romantic idea of starting a business But my money's got to go somewhere in Order to get back into investment okay And today you didn't do a good job of Presenting that I'm sorry I'm out Lola you're going through the same thing A lot of entrepreneurs go through okay Where they have a great product and they Say to themselves well I can't really Sell a lot of them it must be I mean I Don't have enough money for marketing And if I only had more money for Marketing I could build a brand and if I Build a brand then everybody will come Rushing to me and buy it except that Never works marketing dollars never Build Brands product satisfaction and Execution build Brands I don't think You've got it working hard on this who
Doesn't get it into everybody It's amazing I got QVC interested Lola self-awareness is key for every Entrepreneur absolutely we all lie to Ourselves some more than others you're In the more category right now you've Got to get to the less category I'm out Okay thank you good luck thank you Kevin Kevin didn't speak and then there's Kevin that's shocking too No [Laughter] Never no I'm out Okay Thank you so much thank you Foreign I think the Sharks were hung up on my Sales numbers but I know that all I need Is just one breakthrough and I can push This into the millions this woman has an MBA she got an MBA are you saying that In a good way or about yeah I'm not a Fan of mbas anymore I got to tell you Guys something we've been together 10 Years and it's the first time ever in Shark Tank history I was speechless all I could think of was no Before you go don't forget to subscribe To the Shark Tank Youtube channel and Click on that notification Bell to keep Up with everything that's bubbling in The tank
