After Ryan Shell relocated to New York City, he found a market for home state t-shirts that allowed the wearer to show off their own state pride. Will his t-shirt company get him a deal on
Shark Tank The Home T Update
- Entrepreneurs: Ryan Shell
- Business: State pride t-shirts
- Ask: $250,000 for 5% equity
- Result: No deal
- Sharks: None
Robert entered the tank wearing one of his most popular t-shirts from his company The Home T. He explained that his products were especially popular with transplants who found themselves living in states they were not originally from. He passed out custom made t-shirts for each of the sharks featuring their own home states. Robert Herjavec’s shirt had a picture of Croatia on it.
Robert was concerned about the $5 million valuation that Ryan had placed on his company, but he quickly responded with some of his financial numbers, sharing that in the 12 months prior to filming, he had generated $1 million in gross revenue sales. The company netted a profit of more than $500,000, which was extremely impressive.
Kevin O’Leary was concerned because the company could easily be knocked off, and he didn’t buy into the estimated valuation at all, so he was the first shark to drop out. Daymond John also dropped out for similar reasons. Mark Cuban believed that the long-term sustainability of the brand was in jeopardy, so he went out next.
Robert decided to make an offer of $250,000 in exchange for 35% equity, but Ryan countered him at 10%, and Robert went out. Lori Greiner also decided to make an offer of $250,000 in exchange for 30% equity, but Ryan countered her at $400,000 for 10%, so she went out. At the last second, Daymond offered $250,000 in exchange for 20% equity and Ryan rejected that offer, leaving the tank without a deal. What happened next for his company? Keep reading The Home T update to find out!
We have good news to share in The Home T update. Despite Ryan turning down 3 offers on
Would you like to learn about the other companies featured on Season 6 Episode 23? Follow the links below for our other company updates from the episode.
For even more on companies and products, be sure to stop by our Season 6 Products Page!
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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!