Shark Tank US | Is Handy Pan Asking For The Lowest Ever Deal On Shark Tank?
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- čas přidán 16. 09. 2022
- Adam Chaudry and Josh Conway are seeking $10k for a 20% stake in their company Handy Pan.
From Season 13 Episode 21
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Shark Tank US | Is Handy Pan Asking For The Lowest Ever Deal On Shark Tank?
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That deal happened so fast Barbara wasn't even ready with her excuse
Looool
she's still out .
😂😂😂
Lol cant get enough of these Barbara jokes damn
Lol the only episode where she couldn't go out
Imagine being wealthy enough to say "I'll give you $10k, I have nothing to lose"
10k is nothing lol
Save for 90 days and you will have half of it
10k isn't much to many, it's nothing to turn your nose up at... but 10k is like few months work at regular job 🤷🏽♂️
There are millions of everyday regular Americans over the age of 60 who have saved just a little from each paycheck and now have a net worth of over 1 million dollars. To those people, 10K really is nothing to lose. Literally 1% or less of their net worth. And these are just regular people like retired teachers.
@@joshwekony8861 Regular people can't just save 10K in 90 days. What are you smoking??
How has Kevin not aged since the show started but Mark went from looking like a father to a grandfather
He literally plugs his skin care routine on his channel videos lol
@@JohnSmith-fx7ge Which one?
@@Swan-rb4yg Tiege Hanley, from the guy who does those Alpha M vids. I tried it myself, basic kit has a wash + AM cream w/ sunscreen, PM cream, and a scrub. Pretty good overall, especially if you're new to face care (most men are) and want a simple routine.
Mo money mo problems
I’m a guy and I do anti wrinkles cream , biotin , and various other herbs and even do hair regrowth injections. And I’m only in my early 40s. I look like a 30yr old.
This was one of the best episodes. The guys walked in confident, didn’t ask for a crazy amount, they were honest and likable and knew exactly what they wanted. Lori scooped them right up and they didn’t hesitate to take her offer. This is a genius idea, too. These guys will be successful.
she didnt even make an offer she just straight up gave them what they asked for lol
A genius idea would be to have the strainer part to be a completely separate tool, so can be used with existing pans. And that product exists, called the 'Pan Strainer'.
absolutely!
kinda sad tho, right now they have 0 stock of the product on the website
@@amuthanshan They said it can attach to any pan. So it seems like a separate part.
Mark ALWAYS gives his congrats when a deal is made, even if it's not with him. That's class.
Nah
@@theempire00 Yah
Class? 🤣🤣🤣🤣🤣🤣🤣
Mark also promote crypto scams. That's trash
Professor is that you? Lol 😂
“Why didn’t you ask for 50%?” - Kevin is the only guy who can make Gordon Gekko realise greed is bad.
that´s why no one likes kevin aka "mr. greedyful", just watch any social media, he get´s roasted into the ground by 99.9% of the people bc he treats his staff like literal slav3s and never once makes a normal offer, if a company asks 100k for 20% you can be sure mr. wonderful says "i want 100k for 50% and if you take more than 3seconds to decide and wait for any other shark to make an offer then iam out".
Bud that’s the reason why he only has one deal with a cup cake company that actually made him money and 5 whopping percent in that company.
Yes, sometimes he is just too much.
From this one very small example size, yes, he does seem greedy. However, Kevin is actually the shark to make the most offers out of all of the sharks. From just my viewing experience, it seems that he has an offer for more than 50% of the entrepreneurs. On many of these occasions, he gives an offer better than the others. What really is Kevin's weak point in my opinion, is that he comes off as unlikable and for that reason he never even gets countered on his royalty or other deals. Also he doesn't talk himself up as much as Lori and a lot of the visiting sharks. He's made billions, he doesn't have to suck up to these enterepreneurs. That's their fault for not seeing his worth and I would absolutely trust Kevin to work on getting as much return on his investment as possible.
@@MsJondde he’s not worth a billion dollars
Lori cut through the 'shark muck'. She's brilliant.
I thought I was the only one who noticed that
🫡
itl be a good product to perform on QVC 👍
@@genxchas QVC was my first thought. It's exactly the type of product they advertise.
She's cute to
@@frankwhite3154 how is that relevant
The Handy Pan was valued at around
$50,000 at the time of the deal with Lori and is estimated to have a net worth of $250,000 as of 2022.
thats great its a really good product but it definitely shouldnt be direct to consumer from their own website, retail would be the best
@@lightsaber7863 true but that's expensive and brutal place to be but with Lori no doubt they'd overcome that hurdle
@@felipe367 yeah lori is one of the best sharks to get into retail or marketing on qvc
Is this true or you are just making it up???
@@vikassinghrawat92 He's making it up, there's not any info about this product, nor even if the deal with Lori closed.
"I don't even care about this. You ask for 10k, I give it to you" 😂😂
Bro for them it's like I spend 10 Cents
Real rich people never brag about their wealth, only medium rich people do that. Eminem is super rich, yet he asked his manager if he has the money to buy the watch . Have you ever heard Zuckerberg bragging about his wealth?
@@nsaurabh25 that was back then tho. He’s a lot smarter now
@@nsaurabh25 You're strange
@@nsaurabh25 this is quite true. The real rich are humble and don't brag.
@@juanc6393 😂
Lmao they wanted someone to do all the heavy lifting and they keep 80%. These guys are geniuses 💀
It's not a formalized deal yet. These sharks would ask for a deadline on their payoff in the fineprint. Lol
Patents have value...
@@s_ame1135 which they would also help them meet at the very least. More often than not they blow up sales by ginormous proportions
It's only heavy lifting if you're not a shark, Lori can just ask her assistant to post on Instagram and thr company grows 5x 😂
That's why the other knew it was a bad deal regardless of the valuation guys are lazy and being lazy is not a good trait in business, Lori messed up here if I'm telling the truth
An absolute genius pitch when you think about it. Really proves that a humble yet confident approach is a great move.
Not really. 3 years 7k in sales means they literally are or were taking this project as a joke and not serious lol. But definately a brilliant product and they chose the right partner to actually basically literally kick start their business
And they copied the idea from another company that has the strainer part as an addon to any pan
@@hownoto1212 they just got marketing at a -10k price(add 20% of the company to the price tag)
yeah but terrible business decisions. don’t know how to market a demonstrable product on social media and didn’t even consider selling on Amazon before giving up 1/5 of their business
@@sarahhe7828 The company is now worth $500,000. A 900% increase in value since they made the deal with Lori.
"You ask for $10,000 for 20%? I'll give it to you. I have nothing to lose." said Lori. OMG, I hope one day I can say these lines too. New target set!
“I don’t wanna be a greedy savage like you”
One of the most called for things in Shark Tank
savage not salvage
This could be the most genius thing I’ve seen anyone do on Shark Tank.
Seriously, by asking for so little they got the best shark for them because that thing screams QVC and they knew it. Had they walked in asking for six figures for 5 percent they'd have been laughed off
which? Lawyer bartending?
Not necessarily. Making the shark invest so little, you run the risk of the shark not caring at all since they aren't at risk of losing any money.
She landed a great deal and now owns 20%. You can go big with this. If you partner with other pots and pan companies and sell them the licence rights to use your patent. It can go big.
@@tenzing2090 disagree she owns 20%. She doesn’t care if she spent 1$ to acquire. In qvc people buy gimmicks all the time and sometimes they sky rocket.
That was probably the fastest deal in Shark Tank history
These guys are going far
No
And their stock is out so their publicity will fade away
@@carmaster0018 not necessarily. Out of stock is always good news
@@jjf3934 not always. If you can't meet the demand at the right time, people will just find an alternative.
@@s_ame1135 still better to sell all your product vs sitting on hundreds of thousands of dollars worth of inventory but if your out of stock for months then yeah your just missing out on money.
Lori could EASILY blow this up to a multimillion dollar company & she'll be looking to make that return on investment as high as possible to boost her profile as a shark/business woman. Smart deal all around
Good on Lori for realizing that she probably spends more than 10k on a regular dinner and just saving everyone's time and energy. Props to them for not being greedy as well.
This is probably my favorite pitch ever. They could've had 0 sales and probably still got at least one of them interested
Yeah $10,000 is so insignificant for them. Im shocked someone else didn't jump in. Considering they have a patent it's totally worth it.
Technically speaking having 0 sales would have been better than doing terrible for 3 years. Of course it was a no Brainerd deal for Lori
@@hotshotnewengland 😂
Ten thousand dollars is cheaper than starting your own company usually
That's why Lori is the best shark. She's always trying to make a deal but always gets ones she knows she can blow up the sales and create million dollar companies. She'll always be my favorite.
You could see the hunger in her eyes the moment they started demo-ing. She knows she could easily make that back with a couple QVC spots. 😂 That’s why she’s my favorite shark even if Mark’s the biggest in the group she is definitely the fiercest when it comes to what she wants.
Maybe she has a unique market to promote to late night TV people who buy useless gadgets or jewelry to fill void in there existence. Nothing against Lori or late night TV people , it's a niche. If they sell a million or 5 million units there all richer . They did very little work it's simple , it's QVC.
Def one of the top 3, shes great.
Its not rocket science. Its QVC. Someone already put the channel and viewers up. She just needs to feature it there. No brains needed.
She landed a great deal and now owns 20%. You can go big with this. If you partner with other pots and pan companies and sell them the licence rights to use your patent. It can go big.
Absolutely 💯
And the patents are huge!!!
I think it was the best to have Lori in here. They really only needed to be shown/promoted to public because its a great product. Lori is the best for that! I’m sure they will do great!
I really like that savage reply from Lori to Kevin😂 " I don't wanna be a greedy savage like you"😂😂
Lori is exactly who they wanted.
Lori was exactly who they needed too.
Currently, according to their website, they're out of stock - sold out and are struggling with inventory orders right after the show. I'm happy for them, they seem like they're good people!
I'm sure Lori will put more money in for more productivity. They are in good hands now.
It's a great product. Kevin can't consider other factors of why they haven't sold much. He automatically assumes its a terrible product.
@@MandeepSingh-ki6ve meanwhile he peddled FTX
Lori swooped up the deal so fast, Barbara wasn’t even able to say that she’s out
If the valuation is too high, something is wrong. And if it’s too low, also something is odd. And yet, if you bring a reasonable valuation then there’s always some doubts that it might be sketchy. Lol, in any case Mr.Wonderful finds or digs some holes in the valuation
true hahahah but in this case i think it was more because of the $8000 in sales over 3 years haha
It's Kevin's usual tactic of pointing out the flaws so all the other sharks bow out and so he can make a nice, greedy deal for himself
Once again lori proved shes smart! While others were busy being philosophical lori took the ACTION ❤
Aside from Lori, everyone (especially Robert, as usual) was so consumed with their own pretentious self and trying to make a point, that they lost sight of the obvious opportunity. I hope this blows up and Lori makes a small fortune.
I think they forgot that these guys only asked for 10k. 😅
Yes Robert is so pretentious! Nobody wants his offer and he doesn’t help his entrepreneur at all
Not sure why Mark even bothered. $10k to Mark is equivalent to $1.50 to the average person, that's how much money he has
Targeted and well implemented. I was truly skeptic in the beginning, but those other sharks are just so busy finding what's smells fishy about the deal, but Lori just just showed that this show should not always focus on the bad, but how to move forward and start helping more people. Good job Lori! You have my outmost respect.
it's amazing that it took Lori 20 minutes to figure out that she could own 20% of this for less than Mark Cuban spends on getting his nails done
Barbara: “I already have 2 hands, for those reasons, I’m out”.
I needed this today 🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣
😂😂
Being in Shark Tank alone is already an advetisement in itself. Add the fact that they could be the record holder for the lowest deal in the show's history and people will start getting curious.
Add Lori to the equation and the very nature of the product and you have a potential QVC hit.
These dudes are genius.
Brilliant strategy. They went in wanting Lori, and went in with a deal that was just impossible for her to refuse, cut out all the risk for giving away 20% of their company. 80% with Lori is worth way more than 100% without her.
I love how the initial offer is so low, it’s like, just do it, it’s pocket change.
Lori is like “My time is worth more than $10k. Fk it, I’ll just throw the 10k just so I don’t have to listen to Kevin’s blah blah blah” 😂😂
The patent is priceless bro, Laurie is a genius. Nothing to lose really irked me though haha that’s a lot to someone like me
@King Pop Most people can’t afford to invest $800 per month.
@King Pop You’re delusional and sound like a teenager who has never actually worked.
@King Pop They're not lazy, they're just a lot smarter than you. Who, with sound mind, would work an extra 20 hours a week just to become a millionaire in 27 years. Life's too short. Money doesn't buy happiness and intelligent people understand that the most important thing to achieve in life is not money, it's time because each of our time is limited on this earth.
@King Pop Me, I'm in my mid forties, retied in my mid thirties and what I tell people is to value time over material items. In other words, don't use valuable time working so that you can buy things you don't need. That's intelligent, sound advice.
You tell people to work weekends for 27 years to achieve financial stability lol. Advice like that could only come from someone who hasn't figured out the most important things in life are health and happiness.
You may have found a way to make it work, but most people who work seven days a week for 27 years are going to be fat and miserable...and with a unhealthy body and unhappy soul, they would likely die young.
But these guys are not moving she will definitely move the product from selfs
Kevin: "Why didn't you ask for 50%"
Lori: "I don't want to be a greedy savage like you
That had me dying
The built-in strainer looks like it would be difficult to fully clean. Hopefully the pan can be run through a dishwasher for cleaning. It looks clever.
I thought the same thing! It's going to be a mess. But probably won't stop them from selling it.
It’s removable
If the strainer part is detachable (which it well may be because it's already on a hinge of some kind) then its easy.
Grab the second set...it's like buying a xbox/ps when it 1st drops....they will definitely improve the item
Wow the level of humbleness and self awareness, I admire this guys for being so logical and actually looking for a partner
The way Lori threw Kevin in the skillet at the end and burned him to a crisp was nice.
I want to draw a cat for you asked for 10k for 25%
Barbara: *runs like a fanatic after them when they were getting in the car about to leave* I FORGOT TO TELL YOU THAT I'M OUT!
Lmao Lori's hugs at the end to her new business partners . 🤣 5:52 - 5 :56
It's just $10K what do I have to lose? That question hit hard lol
Love these guys. Simple and straightforward pitch. No overcomplicated equity/cash issues. Nice product. All they need is a good infomercial and their product on retail
Lori had the right approach. 10k for 20% is a no brainer.
10k is like spare change for Lori. Kudos for her not asking for more and kudos for the guys for being super honest.
Lucky for you guyz to have Lori. Great move Lori! Wish you best of luck all!
I mean, Mark gave them free advice that they hadn't even considered, and I'm sure selling it on Amazon would elevate the sales figures. Seems like Lori was the wisest shark there to grab that deal
I feel straining grease and putting it back on the heat would be a fire waiting to happen with the strainer going back down the side of the pan dripping the remaining grease on to the burner. I also think it Would be a hassle to clean in the crevasses but for $29.99 I’d be willing to give it try
Then wipe it with dap water lol
This was one of the best episodes! So simple and honest. Thanks!
I would love to update on these guys and see how well their business is doing post their episode stuff.
28 billion in sales ytd. Both of them have quit their day jobs, and they're each having an affair with Lori. They've donated have their proceeds to SpaceX and have quarterly meetings with Elon Musk where they eat bacon sandwiches.
Probably nothing in a year, it's not that great a product and already competing products literally just like it on amazon right now.
@@sws212 are you kidding me? how many times I want to @#$%ing strain water out of my pans this is a must have for me in particular
@@sws212 you must be a microwave kinda guy. If you cook you know this is a very useful product.
@@SpinozicTroll same here! not to mention less dishes to wash!
After the Handy Pan episode aired on television, they quickly sold out their inventory. The founders didn’t expect to see such strong demand for the product and are struggling to meet demands at the moment.
It’s not clear if the deal with Lori Greiner closed in the end.
What happened is the exact définition of take an opportunity. These guys were simple, business simple, product useful with potential. Lori took it when others were arguing uselessly
That closing statement was just iconic!!
I can only aspire to get to the point where 10k is “nothing to lose.” My only issue is because she “has nothing to lose,” how much effort is she actually going to put into helping these guys grow their company and make it a big hit.
Nothing to loose doesn’t imply there’s nothing to gain. It’s basically a low risk- high reward deal.
20% of a product with big potential and patented is a paycheck. She'll make the effort. Lol
Lori is a "ready to work hard" kind of person. So I think she doesn't count all the effort as something to lose.
$10k is like chump change for the sharks 😂😂😂
It’s amazing most of these sharks spent the entire time ripping into them, ignoring the fact all of their grievances were already priced into the requested offer. They were acting like they came in only offering a 1% stake for 10k. Literally only one smart shark in the room, who realized trying to nickel and dime the deal would likely only lead to another shark wising up and counter offering leading to a higher evaluation than asked for.
These guys are great. Took everything with a grain of salt and I love how the attorney thing came into play
I really like the idea of this pan! I wonder if there's a deeper pan with a wider strainer for veggies etc to keep them from spilling out when you strain
I’m Adam!
I’m josh!
Barbra: I’m out
Delete this comment
Out: I’m Barbara lmao
The amount of times I've struggled draining the pan whilst losing half my meat in the sink and not once did I think of coming up with this product, genius idea, I would buy one for sure!
bro this is one of the most entertaining ones i’ve seen so far for real
Lori looks great and much more youthful and happy, she seems like a nice person too.
LORI IS INDEED THE PERFECT PARTNER FOR THEM!!!
This was the most reasonable, honest pitch ever.
I once saw the entrepreneur go for a deal of $1 for 25% and the counter was $2 for 50%. That would be the actual record for the lowest deal
They for sure were eyeing for Lori, when she placed the offer they said yes right away hahaha
When I first saw the product QVC clicked on my mind and then Lori got the deal. This should become a good hit.
lmao while they were arguing Lori was like, hold up 10k is pocket change
This is the perfect pitch for "I'm here for a shark not money"
Lori: "what do I have to lose?"
Me: more than my life savings?
😂😂😂right
These guys genuinely wanted a partner and didn't care about the money. I feel they'll get the success they deserve. All the best to them.
Did no one else see the flaw when he poured the stuff in the sink all the grease would just go to the bottom of the pan and burn on or just be a huge mess 🤔
This is hands down my favourite pitch on Sharktank, win win situation, genius pitch and value proposition.
I love how Lori was like what I have to lose 😂😂😂
Imagine not worrying about losing 10k 😭
You are asking for only $10,000 and I really have nothing to lose and for that reason I am out. - Barbara
Great episode. These guys just weren't all in in their business, they gave themselfes time to develope and patent their product + they didn't rush for sales. They didn't ask for a huge amount of monay and just wanted a shark as a partner and consultant. All in all very well done
Mark and Laurie are genuinely good human beings !
There's a rubber attachment that'll fit any pan that does the same thing but better. Wish they'd thought of making that instead of a whole pan you have to buy separate.
Lori: “I’ll give you what you want. I have nothing to lose!”
Me: “You have $10,000 to lose.”
Lori: “What do I care about 10 cents?”
Now worth a value of 250k as of 2022. Not bad for an evaluation of just $50k on the show.
They came in at such a low valuation knowing it would likely get one of the sharks to bite. Now they have a big partner who can do all the advertising for them. They will probably get free spots on QVC now that they are with Lori. Pretty smart move in my opinion.
Agree. If I were them, I might be even happy to give Lori 20% share for free. But that way it might look too desperate, so I think them asking for,only 10k is a lot better in many ways. 😆
I wanted to learn more about the product. They mentioned it fits on most pans but it didn't get much further than that.
To be fair, I totally see the utility of this product. I cook a lot of pasta, and I hate using and cleaning strainers when doing so. Plus, the ability to strain out grease while cooking simply makes for a healthier meal by getting rid of liquid calories before the final product comes out. Kudos to these guys; I'm going to look for this thing right now.
Robert was ‘straining’ to see the benefits whilst Lori quickly ‘greased’ the entrepreneur’s hands with investment. At least their pitch wasn’t ‘panned’ by all the sharks.
Thank you. I’m available for birthdays and graduations.
Lori is a monster for "scooping" this deal up. As always my wife makes the best decisions.
It's why I never plan on having a wife
"why didn't you ask for 50percent"🤣
Perfect pairing, that screams tv sales. While it would not be any use on a kitchen line, I would use one in my home kitchen.
The strainer isn’t big enough. I can totally see things flying out of the pan over the strainer when all the food slips down in one go.
By the way, for those who came to watch this video, this ISN'T the lower offer ever on Shark Tank. There was another gentleman who came on I want to say maybe a year ago needing help getting his headphones on the market and asked for $10 for 10% of his company. I actually remember watching that episode where 2 sharks agreed and they both handed him a $10 bill at the end of the deal.
What episode is that or video send me link
Wouldn’t this deal still be the lowest one? 10k for 25% is a lower valuation than 10k for 10%.
@@kenzylafrance $10
@@Theycallmelucelis ah, got it. Thanks lol
One of the best and nicest episodes of shark tank
Barbara: “I wasn’t able to offer a deal fast enough, for that reason, I’m out”
Update: they haven't given any public statements on their current revenue. But the company is estimated to be worth $250,000 as of 2022. Safe to say, Lori ain't losing much on this company.
******Spoiler alert*****
This is smart, they pitched an offer that Lorrie couldnt refuse.
The “brilliant” from mark says it all. Such a great deal I have thought about this so many times!
Lori was like nothing to lose my shoes cost me more then the deal.
She paid them to advertise and market there product 😂what a win for them!