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On Shark Tank season 11 episode 18, Bad Birdie founder Jason Richardson's $300,000 investment negotiation turned into a high-stakes golf challenge. After Mark Cuban, Lori Greiner, and Daymond John opted out, Kevin O'Leary offered $300,000 for 30% with a no-retail clause.
Robert Herjavec proposed $300,000 for 25%. When Richardson tried to lower Herjavec's equity to 20%, Herjavec refused to budge. Richardson then pulled out a golf club and challenged Herjavec.
"Robert, you said you're a golfer. This is what we're going to do. Either way, I want to accept your offer. If you make a putt, I'll give you 25%, but if you miss the putt, it's 20%," Richardson proposed.
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Robert accepted the challenge and missed the putt which reduced Herjavec's stake to 20% while maintaining the $300,000 investment.
Shark Tank's Robert Herjavec lost 5% equity after missing a golf putt
Bad Birdie showed up with more than just samples. Richardson brought along golf equipment, planning a strategic finale to his Shark Tank presentation. His company sought $300,000 for 10% equity, highlighting their fresh take on golf wear. The business targeted male golfers aged 18-35, moving away from traditional solid-colored polos.
The numbers backed Richardson's confidence. Sales jumped from $412,000 to $760,000 within a year. Each shirt's production cost stood at $40, with a retail price of $72. The company used a limited-release strategy, often selling out new designs within hours of launch.
Initial shark reactions split the tank. Kevin O'Leary stepped up with $300,000 for 30% equity but demanded the company stay away from retail stores. Robert Herjavec offered the same investment amount for 25% equity without restrictions.
Mark Cuban expressed concerns about retail expansion affecting their successful direct-to-consumer model. Lori Greiner decided other sharks had more relevant expertise. Daymond John also stepped back from making an offer.
Richardson then challenged Herjavec to a putting contest right on the spot, setting clear stakes. A successful putt would lock in the 25% equity deal. A miss would reduce Herjavec's share to 20%. The $300,000 investment remained fixed either way. The studio fell quiet as Herjavec lined up his shot.
The ball stopped just before the target. Herjavec missed, automatically dropping his equity to 20%. Kevin O'Leary tried to jump in with his own attempt but also failed to sink the putt. The challenge ended with Richardson and Herjavec agreeing to the modified terms: $300,000 for 20% of Bad Birdie.
Pre-challenge context
Before the putting showdown, Bad Birdie's Shark Tank pitch emphasized its market strategy. The company manufactured golf shirts with bright patterns and unique designs, positioning itself differently from standard golf brands. Their online drop model created high demand, with limited edition releases selling out within the first hour.
Richardson managed manufacturing costs while maintaining premium pricing. Company data showed production expenses at $40 per unit against a $72 retail price. The business model relied heavily on direct-to-consumer sales through their website.
The sharks' debate centered on Bad Birdie's retail plans. Mark Cuban warned against changing their successful online model. Kevin O'Leary's strict no-retail stance reflected similar concerns. Yet Richardson maintained his vision of limited retail presence, targeting select pro shops and specialty stores.
Post-deal developments
After securing the $300,000 investment for 20% equity, Bad Birdie faced immediate challenges. As per Shark Tank Blog, in March 2020, COVID-19 disrupted their supply chain, with 90% of vendors canceling orders. However, golf's popularity during the pandemic helped sales recover quickly.
The Shark Tank company relocated to Scottsdale, Arizona in 2020. By November 2021, they opened their first physical store in the same city. Their retail expansion reached over 1,000 locations by January 2022, including Nordstrom and PGA Tour Superstores.
Bad Birdie expanded beyond men's polos. Their product line grew to include women's clothing, pants, shorts, dresses, rompers, and hats. The company also started a high school sponsorship program, providing golf apparel to school teams.
Current financial reports show annual revenue between $6-7 million as of November 2023. The company maintains its original drop model while balancing retail presence at about 25% of total sales, proving Richardson's mixed distribution strategy successful.
Shark Tank season 16 episode 8 will air on January 17, 2025.
