Jason Richardson pitched his golf apparel line during
If you’re short on time, here’s a quick overview of what happened to Bad Birdie after
Entrepreneur Jason Richardson appeared on
|Accepted deal for $300,000 for 20% equity
|$300,000 for 30% equity
Shark Tank Bad Birdie Update
- Entrepreneur: Jason Richardson
- Business: Colorful golf shirts
- Ask: $300,000 in 10% equity
- Result: $300,000 for 20% equity
- Shark: Robert Herjavec
Founder of Bad Birdie, Jason Richardson, walked into a golf store one day and noticed something. All he found were the same boring polos that golfers have been wearing for decades.
He really wanted something fresh and cool, so he learned how to make his own golf shirts. Fast forward and Bad Birdie was born with the goal of making modern golf shirts with appeal for younger golfers.
His pitch includes many colorful displays with some of his best-selling shirts. They are performance wear, which basically means that they are antimicrobial, moisture-wicking, and more.
Daymond John interrupts the pitch to ask why anyone would play golf, which leads Jason to highlight that you can wear the shirts anywhere.
Each shirt costs $40 to manufacture, although Jason is slowly whittling that cost down. He then sells them for $72 each.
Further, he utilizes the ‘drop date’ model that some shoe companies also use. Most of the time, he sells out on limited edition designs within the first hour of a drop.
Altogether, Bad Birdie has done $760,000 in the current year and $412,000 in the previous year. The sharks are impressed with the quality and Jason’s numbers.
He says he needs the funds to help buy inventory because he is consistently selling out. Additionally, he also wants to expand to retail.
The sharks weigh in, starting with Mark Cuban. He doesn’t want to stop their seasonal drop model, which retail stores would kill.
Jason explains that he doesn’t want to go full retail, but would instead like to keep it at only 25% of the business.
Lori Greiner drops out regardless, because she thinks the other sharks would definitely want to invest more than she would.
Kevin O’Leary makes Jason an offer of $300,000 for 30% equity, however he would absolutely forbid the company to pursue retail.
Robert Herjavec seems to be the only shark that doesn’t have a problem with retail. He offers Jason $300,000 for 25% equity.
Mark and Daymond eventually drop out after this, which leaves Kevin and Robert’s offers on the table. Then, Jason asks Robert if he’d be willing to go down to 20% equity, but he refuses.
Jason knows that Robert plays golf and in order to negotiate, Jason brought out a club and challenged Robert to a putting competition. If he sinks the ball, he gets 25% of the business, but if he misses, it’s 20%.
Either way, Jason will accept his deal. Robert agrees and it turns out that the entrepreneur is in luck, as Robert misses the put. Although Kevin tries to get in on the deal by sinking the ball, he actually misses as well.
Ultimately, Robert and the entrepreneur settle for 20% of the company for a $300,000 investment.
Is the company thriving? Keep reading our
We have good news to share in our Bad Birdie update. Like most small businesses, this company faced some inventory issues during the COVID-19 pandemic.
However, they were able to recover and reports estimate that their yearly revenue is between $6-$7 million, which is a long way from where they started!
Additionally, the Bad Birdie website is still going strong, with large collections of colorful prints for sale.
We also learned that the company now has a high school sponsorship program, where you can apply to have your golf team dressed by Bad Birdie.
If we get any more news on a Bad Birdie update, we will let you know!
You can find the other company updates from Season 11 Episode 18 here:
For even more on companies and products, be sure to stop by our Season 11 products page!
Andrew Smith is the founder and owner of Shark Tank Recap. He is a longtime Shark Tank fan that has been watching it for years and has seen every episode multiple times. His friends know him as the Shark Tank expert, because he can answer any question about the show! His favorite Shark Tank products are Bertello's pizza oven and Bug Bite Thing!