Shark Tank season 16 episode 6 recap: Todd Graves returns while four entrepreneurs secure a deal

The sixth episode of Shark Tank's 16th season aired on ABC on November 22, 2024. The reality show brings together investors, known as Sharks, who provide financial support to entrepreneurs seeking to take their businesses to the next level.

Shark Tank first premiered in the United States on August 9, 2009, as an adaptation of the British series Dragon's Den. The show's concept gained widespread popularity, leading to successful spin-offs in various countries around the world.

The current season of Shark Tank features a panel of sharks, including Kevin O'Leary, Lori Greiner, Mark Cuban, and Daymond John. Additionally, the recent episode welcomed Todd Graves, the founder of Raising Cane's, as a guest shark. In episode 6, four companies - Pepper Pong, Taverns-To-Go, Kaans Designs, and Foam Coolers - presented their business pitches to the sharks.

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What happened in Shark Tank season 16 episode 6?

Tom Filippini, founder of Pepper Pong, presented his innovative game to the Sharks on ABC's Shark Tank. Seeking $150,000 for 10% equity, Filippini had a shaky start but highlighted the game's potential and explained how professional athletes use this game to enhance their agility.

Despite concerns over production costs and customer acquisition, Daymond John and Todd Graves expressed interest. After negotiations, Filippini accepted Graves' offer of $150,000 for 17.5% equity. Graves' expertise in social media marketing and his success with Raising Cane's Chicken Fingers were key factors in the deal. The partnership aims to take Pepper Pong to the next level.

Paul Convey and Enda Crowley, two Irish friends, created Taverns-To-Go to bring the pub experience to backyards during the pandemic. Their custom wooden bars can be installed in under 90 minutes and offer coast-to-coast delivery. Seeking $400,000 for 10% equity, the duo presented their business to the Sharks.

With year-to-date sales of $2.2 million and a profit margin of 30-40%, the founders impressed the Sharks. Lori Greiner offered $400,000 for 15% equity with a $30 royalty until $600,000 is repaid. After negotiations, the founders accepted Greiner's deal, turning down Kevin O'Leary's offer.

Kenny and Ashley Green, founders of Kaans Designs, presented their family-friendly clothing line to the Sharks in season 16, episode 6 of ABC's Shark Tank. Seeking $75,000 for 15% equity, the couple showcased their business, which has generated $3.2 million in lifetime sales.

Kaans Designs holds blank inventory, screen printing designs onto the clothing and has a 30% customer return rate. Additionally, the company sees strong returns on social media investments, typically around 5X, especially during Father's Day. The company's profit margins are substantial, with adult shirts costing $5.12 to make and selling for $26, and kids' shirts costing $4.24 to produce and selling for $21.

Kaans Designs aims to reach $280,000 to $300,000 in sales this year, with margins close to 80%. Guest Shark Todd Graves offered $75,000 as a loan for a 10% stake, which the couple ultimately accepted after considering alternative offers. Graves' branding expertise and success with Raising Cane's Chicken Fingers sealed the deal.

Chad Lee and David Kittle, founders of FOAM Coolers, presented their innovative product to the Sharks on Shark Tank. Seeking $150,000 for 10% equity, the duo showcased their cooler's unique features, including its ability to withstand immense pressure and float in water. By the time they appeared on the show, FOAM Coolers had already generated a total of $251,000 in sales for the year.

The company's direct-to-consumer model posed a challenge, with retail prices at $99 and wholesale prices at approximately $50. However, a recent launch in Target stores marked a significant milestone. The founders defended their product's price point, highlighting their $150,000 investment in the business.

Despite concerns from the Sharks, Kevin O'Leary and Daymond John made offers. Kevin proposed $150,000 for 33.3% equity, while Daymond countered with $150,000 for 30%. After negotiations, the founders accepted Daymond's offer, securing the investment needed to take their business to the next level.