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Shark Tank FuzziBunz Cloth Diapers Company Wants $500K For 15% Equity - Best of Shark Tank TV
hi my name is terrace and Dupuis and i am founder and CEO of buzzy buns diapers
i am here asking for a $500,000 investment for a 15% equity stake in my
company this trash represents the one ton of garbage that one baby generates
and disposable diapers by the time they're potty-trained disposable diapers
make up the third largest consumer item in landfills today one disposable diaper
takes up to four hundred years to decompose but sharks I do have a
solution fuzzy ponds are a 100 percent reusable
diaper a product that is easy to use and easy to wash at home they save peers
over $2,500 on their diapering cost because you only need 12 fuzzy buns in
comparison to 8,000 disposables they also keep babies drier more comfortable
rash free which is why I created them for my own baby 12 years ago so fuzzy
buns are a pocket style diaper there's a pocket in the back the to insert a
microfiber pad into the lining is polar fleece so even though the pad inside is
wet the lining is staying dry so the baby is more comfortable and less
digression the outside is waterproof so everything stays where it belongs now
let's talk about the washing because I know everybody wants to know what do you
do with the poop so it's easy if it's solid poop it just plops right on into
the toilet where it belongs by the way it's never solid I'm if it's less than
the palpable variety we have a handy-dandy diaper sprayer that attaches
to a toilet parents can just rinse off whatever is left over they put it in
this mess free hanging diaper pail and then when they're ready to wash you
unzip the diapers into your washing machine including
the bag and your hands stay clean thank you feeling these really makes you
believe in them color of money for you thank you Kevin how's it compared to the
one you're wearing so who's ready to invest in fuzzy buns stop generating
tons of trash and start generating tons okay how long you been doing it hjerson
12 years 12 Wow 12 years Wow what are your sales last year last year they were
3.9 million Wow but I've sold 24 million dollars
worth with no advertising word-of-mouth only where are they sold internet sites
no retail no big-box retail but we have boutiques how much profit did you make
on three point nine million twenty thousand oh why is it so low because I
have manufacturing problems we went overseas into China thought is gonna be
a good thing until they took all of my product patterns etc handed it over to
somebody else so now she's competing with me I can't even tell the two
product support Kevin are you paying attention to what she just said hey
that's why you have a patent my friend I have a patent but it wasn't very strong
when I first started out I had no money couldn't afford a good patent attorney
and your factory just gave this third yes she was in Hong Kong she was my
distributor wow the store gets even worse I mean you're in it you're in the
poopoo business and poopoo happens yes it does
did you sue we are suing Wow you know my business people always told me you can
sue anybody for anything but good luck collecting correct right what do you
think will happen to your sales if by magical force the patent successful you
shut her down what incremental sales would you get as
a result of 70% more Wow and you think your sales would go up
70% oh yes not just from her from all of the people
that are squatting oh sorry where's the squatting well a
lot of people if you combine them all and roll them up how much do you think
annual sales are I would say if I had to give a good average probably selling
between thirty and forty million dollars oh okay hold on here they're all
breaching your pet yes now this is where poopoo really happens because frankly
this is a very hard business you've got to get retail you've got to get
distribution you have inventory issues manufacturing issues or you work with my
army of lawyers who sues everybody in the Stone Age until they agree to a
license deal that is the sly mist the nastiest the worst elements real world
Mart you look if you're not part of the solution you're part of the problem and
that is part of the problem this is why we have patents you know what you do you
out-compete why have you not been able to just kick their butt because you're a
better company you're a better solution you're a better
execution I have taken this entire time here's what I see if you hit a roadblock
and how you respond is exactly what guides your future unfortunately it
sounds like you talked to too many lawyers talked to too many Kevin's and
you were rudderless and someone who's coming in is probably gonna have to come
in and do more Cooper scooping and I don't want to be in the pooper scooper
business so
I'm looking at you thinking of myself at different crossroads along the way where
people stole my stuff things got in the way and I just had a persist and I see
that knew what I'm not sure I trust in you is your judgment
okay well Barbara if you invest in me I will do whatever you tell me to do but I
have no interest at all in being the entrepreneur for your business I'm an
investor an advocate but I'm certainly not gonna solve all your problems I will
not quit and I see the vision for this company I've had a lot of challenges
from divorce to to manufacturing issues to you name it it's just not in my DNA
to quit I'm sorry to say I am out okay thanks Daymond I'm waking at you you
know when you first started talking all that pool you attracted a really big fly
over here yeah but peeling back the layers on this onion it's starting to
stink and you seem to be looking for a lifeline I like to invest in businesses
that are an upswing I think once they a stone starts rolling
down the hill it's very very difficult to stop
I'm out
tell me if any of the assumptions I'm going to make now are wrong you're an
innovator you practically created the cloth diaper business I did yet at the
same time everybody else I took a huge part of it 70% of it away from you some
of that's your fault just is I started this industry I grew it I did
all of the foot work look I admire your tenacity but I don't want to join you on
your on your ride I wish you the best of luck but I'm out okay thank you
look
I didn't get a deal from the Sharks but I'm not upset with them they told me the
truth and they didn't do it from a good business perspective but you know it
stopped me from getting a deal all of the IP squatters out there that are
making tons of money off my idea so
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