Can Nana Hats revolutionize banana preservation? | Shark Tank US | Shark Tank Global.
An entrepreneur presents Nana Hats, a banana preservation device that reduces food waste. Seeking investments to expand the business.
00:00:00 A entrepreneur presents Nana Hats, a banana preservation device that reduces food waste. Seeking $150,000 for 10% equity.
🍌 Nana Hats is a company seeking investment on Shark Tank to prolong the life of bananas and reduce food waste.
👑 Nana Hats is the world's first banana preservation device that comes with interchangeable hats.
🦈 The entrepreneur is looking for a shark to invest $150,000 in exchange for a 10% stake in the company.
00:01:24 Can Nana Hats extend the life of bananas? They slow the spread of ethylene gas and can preserve bananas for 8-12 days. Nana Hats are sold in packs of two for $12.99, with a cost of $1.95 to make.
🍌 Covering the top of bananas with Nana Hats slows down the ripening process by reducing the spread of ethylene gas.
💰 Nana Hats can extend the shelf life of bananas by 8 to 12 days, providing value for customers.
🔗 The concept of using plastic wrap to preserve bananas in stores is similar to the methodology of Nana Hats.
00:02:45 Can a unique hat invention impress the Sharks on Shark Tank? The entrepreneur created a solution to keep bananas fresh without contributing to the plastic waste problem. Impressive sales growth projected for this year.
🍌 The entrepreneur created a product to keep bananas fresh without using single-use plastics.
🏦 The entrepreneur, who works as a wealth manager, started this venture during the pandemic.
💼 The business achieved sales of $483,000 in 2021, with projections to reach $600,000 this year.
00:04:08 A business pitch for Nana Hats on Shark Tank. The entrepreneur turned a crazy idea into a successful product, but the Sharks were not convinced it was a big enough business.
🍌 The entrepreneur pitched a product that puts hats on bananas and received positive feedback for their determination and success.
💼 The entrepreneur discussed their efforts to market the product to grocery chains and their pending Utility Patent for a banana preservation device.
❌ One of the sharks expressed doubts about the scalability and profitability of the business.
00:05:30 A new father enters the Shark Tank with Nana Hats. He seeks investments from the Sharks to expand his global brand. Will they take his business seriously?
👨💼 The entrepreneur is the sole employee of the business and owns 100% of it.
🚀 The product has potential for success on Shark Tank, but it will require a lot of work to make a lot of money.
🦈 Multiple sharks are interested in investing in the business, offering different percentages of the money.
00:06:56 Entrepreneur pitches Nana Hats to the Sharks, negotiating royalties and equity shares. Deal secured with two Sharks at 20% equity for $150,000.
✨ The entrepreneurs are discussing a potential deal and negotiating the terms with the Sharks.
💼 They consider different options, such as involving or excluding certain Sharks in the deal.
💰 The negotiation involves discussing equity percentages and investment amounts.
00:08:20 Can Nana Hats convince the Sharks? With a clear vision and Lori and Peter as partners, Nana Hats could become a household name.
🧢 Despite initial laughter, the Sharks became interested in the business after hearing about the sales and visionary plans.
👥 The entrepreneur is thrilled to have Lori and Peter as partners and believes they can make the business a household name.
❌ The video concludes with a humorous reminder to subscribe to the Shark Tank Youtube channel.
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