Captain Nathan Buffet and Shane Cianciolo have created a wine-focused booze cruise business. Will they sail off with a deal on
Shark Tank Corks Away Update
- Entrepreneurs: Nathan Buffet and Shane Cianciolo
- Business: Wine cruise experience
- Ask: $105,000 for 20% equity
- Result: No deal
- Shark: None
The sharks were initially pleased when Captain Nathan and Corks Away founder Shane first started their pitch. After all, they presented each shark with a tall glass of wine and their signature appetizer– the pesto torte.
Shane shared that they were looking to expand, revealing that they had $250,000 in sales from the previous year. The sharks were impressed, but that would soon dissipate as Shane divulged the “four stage plan,” in which they had already entered Stage 2.
The sharks were eager to hear more about this, so they asked for clarification. Shane said the first stage was the proof of concept and, thanks to the ample sales in the previous year, he considered it successful.
Stage 2 involved expansion and franchising, which the sharks figured was a good plan until Shane shared that they would purchase a boat for approximately $35,000, and sell it to franchisees, along with “the business model,” for $175,000.
The sharks protested this and found it hard to believe that a would-be captain would be willing to pay $175,000 for a boat if they knew they could buy their own for $35,000. Shane went on to share Stage 3, which involved rolling out the “pesto torte” into grocery stores, but the sharks were not on board.
Finally, Shane arrived at Stage 4– an indoor dinner ride in Las Vegas under the Corks Away brand umbrella. This plan was another no-go for the sharks. Mark Cuban would be the first to go out, stating that the company didn’t have the right plan to scale, in the way that would result in big profits. Robert Herjavec went out next, stating that, beyond Stage 1, there were a lot of “holes in the boat.”
Daymond John, Kevin O’Leary, and Barbara all went out, not feeling that the company was investable. With that, Nathan and Shane left the tank without a deal, but what happened next? Keep reading our Corks Away update to find out!
Unfortunately for Nathan and Shane, the business folded only two years after the episode aired. They were successful in purchasing a second boat and scaling the business slightly, but Corks Away closed down in 2014 and is now out of business. This will be our final Corks Away update.
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Jennifer is an avid Shark Tank fan that has been watching the show for years. She serves as Senior Editor at Shark Tank Recap and ensures that all our information is accurate and that our posts are up to date. Her favorite Shark Tank products are Le-Glue and Ring!