Taylor Robinson developed an online platform that allows users to find music instructors who have been prescreened for talent and safety. Will their company earn a deal on
Shark Tank Taylor Robinson Music Update
- Entrepreneurs: Taylor Robinson
- Business: Music lessons
- Ask: $100,000 in exchange for 10% equity
- Result: No deal
- Sharks: None
Taylor explained that users of the Taylor Robinson Program simply go to the website, enter their zip code, then select the type of instrument lessons they’re searching for. The results find background-checked, Taylor-vetted instructors who he says are safe and qualified. Users can then view lesson schedules and more to find the best fit.
In the six years prior to filming, the company made $2.5 million, with $450,000 coming in the prior twelve months. That all sounded good, but Taylor hit a sour note with the sharks when he told the sharks that the company only made $40,000 a year in profit.
Taylor went on to explain that they had two major drains on their profit, the cost of customer acquisition ($33 each), and the cost of operation. An average lesson cost $23, and the company made $9 from each lesson, but they were only bringing in $2-3 profit due to their costs. He said he was seeking capital from the sharks to fund the pricey enterprise software that would automate his system.
Kevin O’Leary was first out, saying that Taylor should have gotten the software issue sorted out before presenting an investment opportunity to the panel. Mark Cuban was impressed with the product and Taylor’s ability to identify the problems, but he said it was too early for him. Robert Herjavec echoed Mark’s feelings. Daymond John said he was involved with a similar program and he didn’t think Taylor’s approach was right. Lori Greiner just wasn’t convinced, and she was the last shark out.
Now that we know how Taylor’s pitch went, what do you think happened next from his company? Keep reading our Taylor Robinson Music update to find out!
We have great news to share in our Taylor Robinson Music update! The company is still in business, and now generates an estimated annual revenue of $2 million! Check out the Taylor Robinson Music website to learn more about their offerings.
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