Entrepreneur Jared Waters pitched his miniatures company during
If you’re short on time, here’s a quick overview of what happened to Mini Materials after
Jared Waters appeared on
|Robert Herjavec||No offer|
|Mark Cuban||No offer|
|Kevin O’Leary||No offer|
|Lori Greiner||No offer|
|Daymond John||No offer|
Shark Tank Mini Materials Update
- Entrepreneur: Jared Waters
- Business: Miniatures for dollhouses, dioramas, and 2-scale recreations
- Ask: $100,000 for 20% equity
- Result: No deal
- Shark: None
Owner of Mini Materials, Jared Waters, says that his miniatures are not for your grandmother’s dollhouse. There’s a new generation of people making miniature art, and whatever they’re creating, his company has the Mini Materials that they need.
The company uses innovative techniques to make high-quality products, using real materials, and they’re made right here in the U.S.A. His miniatures are very realistic, and range from building supplies to furniture, and pretty much anything imaginable.
Although Jared’s presentation is entertaining, Kevin O’Leary wants to know why anyone would need such a thing. Jared simply responds by saying that people need joy.
The sharks are impressed with their samples, and surprisingly, they do seem to spark joy. Kevin admits that in 15 years of
Jared explains that he actually bought the business just over a year ago from one of the co-founders of a sub-Reddit. He ultimately paid $200,000 for it, which he paid for with a loan that he took against his home.
As far as margins are concerned, on an individual product basis, they range between 50%-93%. Within the last year, he’s had $200,000 in sales.
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Robert Herjavec wants to know about the cost. Jared says that a miniature wooden pallet, with a set of miniature concrete blocks, costs $4 to make, and retails for $20.
After hearing how pricey the items are, Daymond John asks what the average age of the user is, but Jared doesn’t know. When he can’t answer the question, Daymond drops out.
Robert wants to know about Jared’s story. Jared says he grew up in rural Idaho, and he’s a husband and dad.
He always wanted to be a business owner, but with so many responsibilities, he didn’t want to start from the ground up. Because of this, he purchased something already established.
Since he is profitable, and runs the business full-time, he pays himself $55,000 a year.
Kevin chimes in, and although he sees the appeal of the products, he doesn’t see it ever becoming investable. Because it’s quite literally so small, the business that is, he’s out.
Lori Greiner thinks the business is adorable, however, it’s just not for her. For this reason, she is also out.
Robert Herjavec thinks that Jared can get his business to $2-$3 million all on his own, which he says, will give him a good living. That said, he needs to see something bigger in order to invest in it, so he is out too.
Mark Cuban commends Jared for his entrepreneurial heart, however, he thinks it will take years and years to scale his business. Because Mark doesn’t want to take such a long journey, he is the next shark to go out.
Without any offers from the sharks, Jared is forced to leave
Keep reading our Mini Materials update to find out!
In terms of a Mini Materials update, the company is still in business and has continued to grow since
With the world of miniatures becoming more and more popular by the day, he at least received a nice advertisement slot on the show.
On the Mini Materials website, you can order custom printing on certain ‘building supplies’. They also have a blog with dozens of ideas for those who are into creating all sorts of projects on a miniature scale.
Once the dust settles, we will circle back around for a more official Mini Materials update!
In the meantime, check out our other company updates from Season 15 Episode 6 here:
For even more on companies and products, be sure to stop by our Season 15 Products Page!
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!