Cabana Boys Events Update | Shark Tank Season 17

Nelson Brooks is someone you’d call the life of the party. He lived true to his name as he found it awkward that people attend parties and are stuck on their phones. Plus basic bartending services that had no memorable experience. As a result, he came up with the Cabana Boys Events, a staffing company that brings that spark and energy to any social gathering. Will Nelson get a deal? Let’s find out in our Cabana Boys Events update and pitch recap.

If you’re short on time, here’s a quick overview of what happened to Cabana Boys Events after Shark Tank.

Nelson pitched his event service on Shark Tank Season 17. He sought  $225,000 for 10% equity. After his pitch, he reached an agreement for a deal with Kendra Scott for $225,000 for 32% equity.

In terms of a Cabana Boys Events update, the company received an influx in party inquiries after airing on Shark Tank and is working with Kendra’s team to finalize a deal.

Shark	Result
Kendra Scott	Accepted offer of $225,000 for 32% equity
Kevin O’Leary	No offer
Lori Greiner	No offer
Robert Herjavec	No offer
Rashaun Williams	No offer

Shark Tank Cabana Boys Events Pitch

• Entrepreneur: Nelson Brooks
• Business: A party/event service
• Ask: $225,000 for 10% equity
• Result: $225,000 for 32% equity
• Shark: Kendra Scott

Nelson came into Shark Tank with his guys and some kind of energy that amazed the sharks.

Right away, Nelson told the sharks that his company sends trained party hosts and bartenders to any private or social gatherings with the sole purpose of bringing a whole new vibe to the event.

The business operates on a premium service model where customers can book for a minimum of two hours. All staff are professionally trained; their focus is hospitality, personality, and presentation.

Cabana Boys Events is available in 11 locations, including Scottsdale (their strongest market yet), L.A, Miami, Austin, Palm Springs, Nashville, Arizona, Orange County, Savannah, San Diego, and Charleston.

Interestingly, Kendra has used the service for her private birthday bash, so she confirmed the energy that Nelson claimed. Now the conversation moved to financials.

A typical 2-hour event costs around $550, bartenders take home $80 per hour, and the company keeps 57% gross margin on each event.

Nelson says their lifetime revenue sits at $3.6 million. They did $1.1 million the previous year and $556,000 year to date. They lost about $146,000 last year because of a failed marketing campaign and poor advertising decisions.

Now time for the offers. Robert says he does not see the business scaling beyond a certain level; he drops out.

Kevin shared similar concerns, saying he doesn’t see a way to get 10x his money back. Lori thinks Nelson doesn’t need an investor; she’s out. Rashuan Williams says the business is outside his investment focus.

In the end, only Kendra remained. She seemed interested, and this is why: last year alone, through her chain of businesses, she did over 25,000 events. So it makes sense for her to partner with Nelson.

She made an initial offer of  $225,000 for 40% equity. But after a series of counters, they both settled for $225,000 for 32% equity.

Nelson accepted the deal. He thanked the sharks and closed the pitch the same way he opened it.

With a deal in hand, let’s get a Cabana Boys Events update to see how Nelson and his team are doing.

Shark Tank Cabana Boys Events Update

In terms of a Cabana Boys Events update, we have high hopes that the deal with Kendra is headed for a final handshake.

Kendra acknowledged using the service for a recent personal party, and posted on Instagram that she was excited to work with Nelson and his team.

With the amount of events that Kendra throws at her own store, that should provide a significant boost in revenue for Cabana Boys.

If you are planning any special party or social gathering and would want to light it up in a special way, then head over to the Cabana Boys website to make your bookings right away.

Once the dust settles, we will be back for another Cabana Boys Events update.

For more updates from Shark Tank Season 17 Episode 9, be sure to check the links below:

• Sleepy Baby Update
• Bon AppéSweet Update
• Makers Social Update

Before you go, be sure to check out our list of all the Shark Tank Season 17 episodes.