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In Shark Tank season 6 episode 2, Kronos Golf founders Philip Lapuz and Eric Williams sought $150,000 for 15% equity. During their premium putter presentation, Robert Herjavec asked about their motivation.
Philip's response revealed personal struggles. His voice cracked as he explained his Japanese fiancée's inability to move to America due to her parents' concerns about his business stability. The mood in the Tank shifted. Kevin O'Leary leaned forward, visibly moved.
"Why can't she come here?...You can't afford to bring her here," O'Leary asked, his voice softening. "Your story really moved me, I got to tell you. It's painful."
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Barbara Corcoran also showed support, while Philip wiped tears explaining his struggles. The San Diego-based manufacturer, selling putters above $500, had secured 95% of their revenue from Japan. The emotional exchange marked a rare departure from the show's typical business focus.
Shark Tank's Mr Wonderful shed tears during Kronos Golf pitch over founder's personal story
Philip Lapuz and Eric Williams walked into the Shark Tank carrying their golf putters. The San Diego manufacturers requested $150,000 for 15% company ownership. This placed their company valuation at $1 million. Their presentation highlighted the manufacturing excellence behind each putter.
The founders showcased their product through detailed manufacturing explanations. Each putter started as a solid steel block. The transformation process required skilled crafting in specialized facilities. The production cost per unit reached $120. Their advanced milling techniques aimed to create superior putting tools.
Kevin O'Leary accepted an invitation to test the product. He stepped onto the studio's putting green. Despite the putter's precision engineering, O'Leary missed his practice shot. The moment shifted attention to the business numbers.
Discussing sales, they revealed their $260,000 revenue came primarily from Japanese customers. The Shark Tank company founders explained their market strategy. Japanese golf enthusiasts showed a strong appreciation for precision equipment. The premium price points started at $500. Some models carried higher prices based on specific design features.
Personal story
Philip Lapuz shared the motivations behind the business meeting. His fiancée remained in Japan due to family concerns. Her parents questioned the stability of a startup golf equipment venture. They wanted proof of business success before supporting the relationship. Philip's voice shook as he explained the visa limitations.
The business roadblocks merged with personal challenges. The distance strained their relationship. Her parents sought financial security for their daughter. Kevin O'Leary's business persona cracked at this revelation. His eyes welled up as Philip described his attempts to gain family approval. Barbara Corcoran suggested using the family's skepticism as fuel for success.
Deal discussion
Mark Cuban stepped away first. He mentioned his limited connection to golf markets. Barbara Corcoran followed. She appreciated golf's impact on her marriage but saw limited investment potential.
Lori Greiner analyzed their market data. The Shark Tank investor advised the founders to focus on expanding their established market presence. She opted out of investing but supported their business direction.
The attention turned to Robert Herjavec. He studied the putters with interest. After considering the manufacturing quality, he made an offer. The terms started at $150,000 for 35% ownership. The founders spoke briefly in Japanese. They proposed 25% equity. Robert adjusted to 30%. Both parties accepted these terms.
The initial agreement changed course. The deal with Robert Herjavec did not reach completion. Philip sent video footage from the show to his fiancée's parents. The television appearance failed to change their position. Two years after the episode, Philip married a different partner.
Post-show, as per Shark Tank Blog, the business showed remarkable growth despite personal challenges. Kronos Golf reached $38 million in total sales by 2023. Their yearly revenue stabilized at $5 million. The company established itself among Shark Tank's successful sports equipment ventures. Their premium putters maintained high manufacturing standards and market presence.
Shark Tank season 16 is airing on ABC network.
