Entrepreneur Julie Goldman pitched her aisle runner company during
If you’re short on time, here’s a quick overview of what happened to Original Runner Company after
Julie Goldman appeared on
|Kevin O’Leary||$250,000 for 51%|
|Daymond John||No offer|
|Barbara Corcoran||No offer|
|Robert Herjavec||No offer|
|Mark Cuban||No offer|
Shark Tank Original Runner Company Update
- Entrepreneur: Julie Goldman
- Business: Non-slip fabric aisle runners
- Ask: $250,000 for 15% equity
- Result: No deal
- Shark: None
Julie walked into the tank and talked about how she started the Original Runner Company, based on her own experience with runners at her wedding. She introduced the sharks to new products she created for the business, including the walk-safe aisle runner.
Additionally, she also created a home monogramming kit. These were part of her plans for expanding the company for retail.
Robert Herjavec asked about sales, and Julie told him the previous year had seen $555,000 in sales due to the down economy. Before the recession, sales were at $800,000, and for the current year they were on track for $650,000.
Kevin O’Leary made a comment about Julie being an indicator of the recession coming back, but Julie was ready for him. She talked about moving the company to a different city to save on rent and changing her salary structures, along with introducing three new lines.
Daymond John asked how much the walk-safe runner cost to make. Julie said it cost $25 to produce, and would be sold to retail stores for $37.50. Daymond and Kevin thought that wasn’t enough of a profit margin.
Julie highlighted that making more units would result in paying less to produce. Daymond asked if there was anything proprietary, and Julie further reiterated that no other competitors were currently doing what she was actually offering.
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Julie ultimately had to admit though, that if any competitors would want to copy her model, they would be able to. Robert queried the valuation, and Julie told him how her company was actually worth more.
Meanwhile, Kevin and Mark Cuban thought she should stick to her niche, and not risk taking on the retail market. However, this led to a lot of chatter between the male sharks, which Barbara Corcoran interrupted.
She said Julie didn’t need any of them, however, she didn’t agree with Julie’s strategy. So for that reason, she went out.
Mark also went out, stating that no one could sell her products like Julie could.
Robert also didn’t see why the risk of going into retail would be worth it and went out, followed by Daymond.
Kevin was the only one left. He said Julie needed him, and put an offer on the table of $250,000 for 51%.
He was after a controlling stake, which Julie didn’t like, and eventually turned down. Before giving up altogether, she offered a counter for 15% of the company, but Kevin refused.
With that, Julie left
Our Original Runner Company update shows that Julie continued to enjoy triumph in the wedding industry. She eventually introduced her new products on her website, and Barbara even offered to invest later on.
By the end of 2020, Julie sold the Original Runner Company for an undisclosed amount. It is currently making around $6 million in annual revenue.
The company went on to be featured by the wedding company, the Knot, and the products were also featured on the Bachelor.
They’ve also had dozens of celebrity clients, from
You can check out the products on the Original Runners website.
There were other companies on Season 2 Episode 8 that accompanied this one. To find out about the rest, follow the links below.
For even more on companies and products, be sure to stop by our Season 2 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!