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Shark Tank season 14 aired episode 20 on Friday, featuring new business pitches. Dapper Boi was one of the companies to appear in the latest episode where its founders Charisse and Vicky Pasche showcased their gender-neutral clothing brand. Although they impressed sharks with their presentation, the panel became hesitant to invest in the company after learning that the founders only had $100 cash left in their account.
Married couple Charisse and Vicky started the company to help the LGBTQ+ community. They came into the tank seeking $250,000 for a 5% equity in the company.
Unfortunately, they didn’t get a deal from any shark but received valuable lessons from Mark Cuban and Daymond John. In addition to the lesson, Daymond offered to provide mentorship free of cost and gave the founders his number.
Where did Dapper Boi founders spend their money?
Married couple Charisse and Vicky Pasche appeared in Shark Tank season 14 episode 20. They showcased their gender-neutral clothing line, Dapper Boi. The sharks were initially impressed with the business pitch but soon started to see a major red flag.
Vicky confessed that they spent a whole bunch of money on marketing. Almost 30% of their total budget went to marketing their product. Sharks looked shocked and backed away from investing in the company.
Mark Cuban and Daymond John gave some useful tips, stating that the company didn’t need so much money in marketing as the founders already have support from their LGBTQ+ community.
Daymond wanted to help Dapper Boi as he saw great potential in the business. Although he declined to invest in the company, he gave his number to the founders so that he could mentor them and help their business thrive.
Shark Tank fans also shared their opinion on Twitter.
While Daymond offered mentorship, Mark refused to invest in the company, passing down some tips to the founders. Lori Greiner backed out after claiming that clothing and jeans were not her area to invest in. Kevin O’Leary wished the founders luck before saying no to their offer, while Barbara mentioned that the issue with Dapper Boi was larger than cash.
Hence, Dapper Boi didn’t get any deal on Shark Tank.
What did Shark Tank’s Barbara Corcoran advise Dapper Boi?
Dapper Boi lost the opportunity to find an investor on Shark Tank because of their leftover money. Founders Charisse and Vicky Pasche mentioned that 30% of their budget was spent on marketing and that they were left with just $100.
As always, some Sharks shared their opinions on Twitter after the episode aired. Barbara Corcoran’s tweet was for Dapper Boi as she stated a lesson, explaining that a business can lose money if they don’t go slow.
Although Dapper Boi didn’t get a deal on the show, their appearance will give them a great platform for success, plus Daymond agreed to mentor the founders.
Speaking about their experience on the ABC show in an interview with the San Diego Union-Tribune, co-founder Charisse said:
“As soon as the doors opened, I was like, ‘oh my gosh, we’re on Shark Tank and these lights hit us and the walk is very real…I was like, oh my goodness,' what is going to happen.”
She also mentioned that COVID affected their business as they had to downsize and sell their house to keep it running.
Viewers can rewatch Dapper Boi on Shark Tank on Saturday on Hulu. The show airs new episodes every Friday on ABC at 8 pm ET.
