6 'Shark Tank' companies that are crushing the competition
It pays to have a Shark on your side.
Every entrepreneur that hooks a Shark as a partner sees at least a slight bump in sales as a result of the so-called "Shark Tank" effect — but only companies that take the long view toward sustained growth turn out to be good investments.
Here are six businesses that walked out of the Tank with a deal and have been scaling up ever since, generating a handsome return for their big fish investors.
Pipsnacks
Brother and sister team Jeff and Jen Martin struck a deal with Barbara Corcoran in the beginning of season six for their company Pipsnacks, whose flagship product Pipcorn is an all-natural miniature popcorn that doesn't get stuck in your teeth or cause digestive problems.
After Corcoran invested in the Brooklyn-based company, she took the product nationwide by adding co-packers in the Midwest and on the West Coast. Pipsnacks's sales went from $200,000 prior to "Shark Tank" to more than $1.1 million within just three months of the company's landing a deal with Corcoran.
Sun-Staches
In season six, novelty sunglasses company Sun-Staches attracted a $300,000 investment from Shark Daymond John, who immediately secured a licensing deal for the company with Marvel Entertainment.
Having access to Marvel's roughly 8,000 characters for its sunglass designs has certainly paid off, helping the company generate $4.1 million in sales in less that five months, just shy of the $5.7 million in revenue it earned the previous year.
Q-Flex
When 13-year-old entrepreneur Andrea Cao made a deal with Barbara Corcoran and Mark Cuban for her handheld massage device Q-Flex during season six, she had just $20,000 in sales.
Since launching a website and moving manufacturing out of her garage and into a fulfillment center, sales have risen to $500,000. Cao and her mother have also had to hire four employees to help with customer service and product assembly.
Cousins Maine Lobster
Food truck operator Cousins Maine Lobster pitched the Sharks during season four with $150,000 in sales from their one food truck.
After Barbara Corcoran acquired 15 percent of the company, she helped founders Jim Tselikis and Sabin Lomac secure a loan to add more trucks and build a top-notch website. Two and a half years later, sales have swelled to $2.5 million.
Bottle Breacher
Former Navy SEAL Eli Crain and his wife, Jen, pitched their company Bottle Breacher to the Sharks during season six. The business sells custom bottle openers made out of hollow 50-caliber bullets, and had $500,000 in sales when they appeared on the show.
Three months after securing an investment from Mark Cuban and Kevin O'Leary, sales shot up to $2.5 million, and the business has grown from eight employees to 32.
Daisy Cakes
In season two, Kim Nelson received a $50,000 investment from Barbara Corcoran for her homemade cake business, Daisy Cakes. The business ships cakes made with Nelson's secret family recipe in specially made tins.
Nelson had just $27,000 in sales prior to appearing on the show, but less than three years later, the business is generating annual revenue of more than $3.1 million.