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The Sharks Have An EXPLOSIVE Fight About Lulu Bang BBQ | Shark Tank US | Shark Tank Global

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💫 Short Summary

Sisters pitch 'Joyce's Lulu Bang' sauces on Shark Tank, inspired by brother's tragedy. Walmart deal in 170 stores, facing challenges in online sales. Glass jar cupcake entrepreneur struggles with shipping, investors pass due to market saturation. Speaker emphasizes perseverance and hard work in business, values working for oneself. Criticizes lack of financial support and excuses, stresses honesty and integrity.

✨ Highlights
📊 Transcript
Sisters pitch 'Joyce's Lulu Bang' on Shark Tank.
The sisters seek $150,000 for 10% equity and share the story behind the product's name.
The sauces can be paired with a variety of dishes and are well-received by the Sharks.
Samples are offered and different dishes prepared with the sauce receive positive feedback on taste and versatility.
Kelly and Gerai's sauce company started small and received a regional deal with Walmart, now in 170 stores.
They sell their sauce for $3.99, costing $1.90 to produce.
Despite low online sales, they sell 500 bottles a week in stores, facing challenges in expanding their brand.
The sharks are concerned about the company's low sales and advise on the need for a significant branding effort beyond the current $150,000 investment.
Challenges faced by an entrepreneur selling online glass jarred cupcakes and barbecue sauce.
Weight and breakage during shipping hindered the success of online sales for glass jarred cupcakes.
Selling a product like barbecue sauce online was difficult due to customers not being able to physically taste the product.
Investors expressed concerns about branding and market saturation of barbecue sauces, leading to the entrepreneur not securing a deal.
Despite positive feedback and partnership with Walmart, scalability concerns led investors to pass on the opportunity.
Challenges of scaling a business and importance of realistic risk assessment.
Emphasize the need for truthful feedback and determination to succeed in a competitive market.
Speaker shares personal experience of facing skepticism and doubt when starting a business.
Rejects idea of giving up easily and stresses importance of perseverance and hard work.
Emphasizes facing challenges head-on to achieve growth and profitability.
Emphasis on self-employment and disappointment in lack of financial support.
Criticism of excuses and importance of honesty.
Shaming of non-contributors and questioning of integrity.