Ties all look the same, but Adam Teague and Tim Paslay want to make a huge splash in the fashion industry. They brought their wooden bowtie company, The Two Guys Bowtie Company, to
Shark Tank The Two Guys Bowtie Company Update
- Entrepreneurs: Adam Teague and Tim Paslay
- Business: Exotic wooden bowties
- Ask: $150,000 for 10% equity
- Result: $150,000 for 17.5% equity with a 10% royalty until investment is recouped
- Shark: Daymond John
Adam and Tim of The Two Guys Bowtie Company, gave a great pitch focused on standing out and making an impact. Their all-wooden bow ties, hats, pocket squares, and lapel pins were made with exotic woods, and each was entirely customizable.
Lori Greiner’s sample, for instance, had an engraving of the Chicago skyline. Daymond John was rocking his black fedora with a wooden brim.
Bowties cost about $7.50 to make and could sell for between $45 and $100. Last year, the company had $407,000 in sales. Adam and Tim explained that they can turn out about 1,000 ties per month, which gave them the edge over other handmade companies.
Guest shark Troy Carter is the first to go out, despite loving the ties. It’s not his area of expertise, so he couldn’t help. Kevin O’Leary wanted to put the bowties into his wedding-based platform, so he offered $150,000 for 15% of the business.
On the other hand, Daymond thought he could boost the business with his fashion expertise. He offered $150,000 for 20% equity. Mark Cuban went out because he isn’t a fashion guy and Lori went out because she can’t help as much as the other guys can.
Adam and Tim asked if Troy would come in with Daymond. The sharks say they’d need 30% equity, but the entrepreneurs aren’t so sure. Kevin revised his offer as $150,000 for 10% with a 7% royalty deal, but Daymond was still on the hook. He asked for $150,000 for 20% with a 10% royalty after Troy doesn’t want to come on board.
In the end, Adam, Tim, and Daymond agree on $150,000 for 17.5% with a 10% royalty deal. Let’s see how things worked out for this bowtie business in The Two Guys Bowtie Company update.
According to our research, Adam and Tim still own the company, and it’s doing about $3.5 million per year. Recently, they launched new fabric ties and wood-brimmed fedoras for the discerning gentleman. You can find all of their products on The Two Guys Bowtie Company website.
The future looks bright for Adam and Tim. Stay tuned for our next The Two Guys Bowtie Company update!
Looking for updates on the other products featured in Season 7 Episode 3? We’ve got you covered with our other company updates.
For more on companies and products, don’t forget to take a look at our Season 7 products page.