Presenting a unique product seeking investment from the Sharks
Product Overview
Let me introduce you to our innovative creation – the newborn training mannequin for photography. This mannequin was born out of a desire to help photographers enhance their skills in capturing the perfect newborn poses. It all started as a passion project, but little did we know how much impact it would have on both the photography and medical sectors.
When we first introduced this mannequin to the photography community, there was a mix of curiosity and excitement. Photographers were intrigued by the idea of having a lifelike model to practice their newborn photography on. The mannequin allowed them to experiment with different poses, lighting techniques, and camera angles without any time constraints or pressure. It became a valuable tool for both budding photographers and seasoned professionals alike.
| Attribute | Value |
|---|---|
| Product Name | Newborn Training Mannequin for Photography |
| Investment | $220,000 (initial investment) |
| Total Sales | $810,000 over two years |
| Units Sold | 1300 |
| Major Milestone | Sold 13 units to a hospital for antenatal classes |
| Partnership Deal | Glenn and Andrew each take 20% stake in the business |
| Rejected Offer | Steve’s offer was rejected as it didn’t align with the business’s vision |
| Target Industries | Photography and Medical |
| Future Goals | Expand reach, strengthen relationships, become a trusted name |
As we delved deeper into the development of the mannequin, we realized its potential beyond just the photography realm. We received unexpected but overwhelmingly positive feedback from the medical sector. Hospitals and medical institutions saw the value in using the mannequin for training purposes, particularly in the context of antenatal classes.
One of our proudest moments was when a hospital purchased 13 units of our mannequin for their antenatal classes. Seeing our product being utilized in such a crucial setting validated our efforts and motivated us to continue pushing boundaries.
Despite initial hesitation from some, our sales numbers spoke for themselves. With over $810,000 in total sales over two years and 1300 units sold, we had proven the demand for our mannequin in the market. The Sharks may have questioned our projections, but the support and validation from the medical sector reinforced our belief in the product’s potential.
After thorough discussions and negotiations, we made the strategic decision to partner with Glenn and Andrew, who shared our vision for the product’s expansion. While it wasn’t an easy choice, we ultimately went with the deal that aligned best with our goals of reaching more customers in both the photography and medical industries.
Financial Success
Hey there, let me share with you the exciting journey of my startup, where we introduced a revolutionary newborn training mannequin for photography to the Sharks and secured a significant investment. Initially, the Sharks were a bit puzzled by our unique product, but soon they were captivated by its potential.
Investing $220,000 of our own funds into the business was a big leap of faith, but it turned out to be a decision that brought fruitful returns. With our dedication and hard work, we managed to generate total sales of $810,000 over a span of two years, showcasing the growing demand for our innovative mannequin in the market.
One of the most rewarding moments for us was reaching a milestone of selling 1300 units of our newborn training mannequin. However, we are not stopping there; we see immense potential for further growth and sales expansion in both the photography and medical sectors.
The Sharks, being astute investors, naturally had questions about our sales figures. Nevertheless, we were able to provide reassuring feedback, particularly from the medical field. Selling 13 units to a hospital for their antenatal class was not only a validation of our product but also a stepping stone towards establishing a significant presence in the medical industry.
As offers started coming in from the Sharks, negotiations ensued, leading to a promising deal with Glenn and Andrew, each taking a 20% stake in our venture. While it was a tough decision, choosing the right partners was crucial for our future growth and success. Regrettably, this meant not partnering with Steve, who felt a bit dejected by our choice.
Our vision for the future is clear – to expand our business and connect with a broader customer base in both the photography and medical fields. With the support of our new partners, we are confident in our ability to make a significant impact and further establish ourselves as a key player in these industries.
Stay tuned for more updates on our journey as we continue to strive for excellence and innovation!
Deal with the Sharks
So, here I am, standing in front of the Sharks, eager to pitch my newborn training mannequin for photography. The anticipation is nerve-wracking, but I believe in my product and its potential. Let me take you through the rollercoaster of emotions and negotiations that ensued during this crucial pitch.
Sharks Initially Confused but Intrigued by the Product
As I unveil my innovative newborn training mannequin, I can see the Sharks’ expressions morph from confusion to intrigue. It’s a unique product, bridging the gap between photography and the medical sector. I explain how we have invested $220,000 of our own money into the business and managed to turn a profit. The numbers speak for themselves – our sales have reached $810,000 over two years, with 1300 units sold.
Despite our success, the Sharks are skeptical about our sales figures. However, I confidently share the positive feedback we’ve received from the medical sector. Selling 13 units to a hospital for their antenatal class has been a significant milestone, showcasing the versatility and demand for our mannequin.
Negotiated Deal with Glenn and Andrew for 20% Each
As the Sharks start making offers, negotiations kick in. Glenn and Andrew show genuine interest in partnering with us and see the potential for growth in both the photography and medical industries. After some back-and-forth discussions, we agree on a deal – Glenn and Andrew will each receive a 20% stake in the business. Their expertise and resources will undoubtedly propel us to new heights.
Rejected Offer from Steve
However, not all Sharks were meant to swim alongside us. Steve’s offer didn’t align with our vision and goals for the business. It was a tough decision to reject his offer, but sometimes you have to follow your instincts and choose the partners who resonate with your mission.
With Glenn and Andrew on board, we’re now focused on expanding our reach, tapping into new markets, and making a lasting impact on both photographers and the medical community. The future looks promising, and I’m excited to see where this journey takes us.
Future Goals
Hey there! I’m excited to talk about our future goals and where we plan to take our business next. We have come a long way with our innovative newborn training mannequin for photography, and now, it’s time to set our sights even higher.
One of our main goals is to expand our business to reach more customers. It’s not just about increasing our revenue but also about making a greater impact with our product. By reaching out to a larger audience, we can help more aspiring photographers and medical professionals enhance their skills and knowledge.
Speaking of audience, we are specifically targeting the photography and medical industries. These two sectors have shown great interest in our product, and we believe there is so much potential for growth and collaboration here. Our success in selling units to hospitals for their antenatal classes is just the beginning of the impact we can make in the medical field.
As we move forward, we are focused on building strong relationships with our customers and partners. We want to continue receiving positive feedback and support from both the photography and medical communities. By listening to their needs and continuously improving our product, we aim to become a trusted name in these industries.
With our recent partnership with Glenn and Andrew, we are one step closer to achieving our goals. Their expertise and resources will help us navigate new challenges and opportunities as we expand our business. Together, we are confident that we can make a significant difference in the lives of our customers.
Overall, our ultimate goal is to create a lasting impact through our product and services. By staying true to our vision and values, we are committed to making a positive change in the world of photography and medical training.
What is the purpose of the newborn training mannequin for photography?
The mannequin is designed to help photographers enhance their skills in capturing newborn poses and lighting techniques. It also has applications in the medical sector for training purposes, particularly in antenatal classes.
How many units of the mannequin have been sold?
Over the span of two years, 1300 units have been sold, with a significant milestone of 13 units purchased by a hospital for their antenatal classes.
How much investment was initially made into the business?
The founders invested $220,000 of their own funds into the business, which has shown fruitful returns.
Who are the partners in the business?
Glenn and Andrew have each taken a 20% stake in the business, bringing their expertise and resources to further propel its growth.
What are the target industries for the mannequin?
The primary target industries are photography and the medical sector, with a focus on expanding reach and making a positive impact in both fields.
