Omar Soliman and his business partner Nick Friedman appeared on
Shark Tank College Foxes Packing Boxes Update
- Entrepreneurs: Nick Friedman and Omar Soliman
- Business: Movers / Unpacking Brand
- Ask: $250,000 for 25% equity
- Result: No deal
- Sharks: None
The problem for the sharks is that the College Foxes Packing Boxes was a spinoff of another moving brand that had already been launched by these two business partners. The sharks demanded that both businesses be included in the negotiations. Nick and Omar did not seem interested in that arrangement.
Kevin O’Leary offered $250,000 dollars in exchange for 51% of both businesses. Nick and Omar countered with $1,000,000 for just 10% equity, which flabbergasted the sharks. The negotiations appeared to be very far apart, and Kevin decided to drop out. After some more discussions, the remaining sharks would also drop out except for Robert Herjavec.
Due to the significant valuation, most of the sharks were not willing to make an offer. Robert was the last chance for College Foxes Packing Boxes. He offered $250,000 dollars for 50% equity, plus an additional 10% equity in the other moving brand, College Hunks Hauling Junk, which already had a proven track record. Nick and Omar rejected the offer.
Let’s get a College Foxes Packing Boxes update. The company never really took off after appearing on
Omar Soliman is still listed as the company CEO and has been for the past two decades. While the idea of expanding their original business was good, it goes to show that growing a business can’t exactly be copied and pasted from one to another.
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