Michael and Brian Speciale came into
Shark Tank The Original Comfy Update
- Entrepreneurs: Michael Speciale and Brian Speciale
- Business: Wearable Blanket Sweatshirt
- Ask: $50,000 for 20% equity
- Result: $50,000 for 30% equity
- Sharks: Barbara Corcoran
Michael and Brian told the shark that the company was brand new and had only been in operation for less than six months. This meant that the company had absolutely no sales because the product, The Original Comfy, hadn’t even been brought to market yet.
It’s the perfect birthday, Christmas, best friend or anytime gifts for women and men. The Comfy Original wearable blanket screams outs gifts for mom, gifts for her, gifts for girlfriend, gifts for teenage girls, girlfriend gifts, gifts for grandma, gifts for wife, cool gifts, gifts for sister and so much more!
In terms of margins, Michael and Brian also told the sharks that it costs about $13 to make a single unit and that they have a price point planned for $39.95. The vision, they explained, is to start selling the wearable blanket online directly to customers which would lead to maximum margins early on in the company’s growth.
Lori Greiner believed that there was another product similar to The Original Comfy already on the market, so she decided to drop out without making an offer to Michael and Brian. Some of the sharks had similar concerns. Mark Cuban decided to drop out but Robert Herjavec was interested and wanted to take a chance on the company.
Robert decided to make an offer of $50,000 in exchange for 50% equity. Barbara Corcoran also decided to make an offer except she only wanted 30% equity in The Original Comfy. Michael and Brian ultimately accepted Barbara’s offer and decided to become partners with her. Let’s quickly cover The Original Comfy update to see how the company has grown since appearing on
With Barbara’s assistance, the company has soared to new levels of success and appeared on QVC where it sold out the entire inventory that it was planning on. The company had grossed more than twenty million dollars in sales annually at its peak and continues to generate more than ten million dollars in annual revenue.
During our The Original Comfy update research we also found that it is one of
You can find the other company updates from Season 9 Episode 13 here:
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