Shark Tank is a TV show that has 5 Business Investors (they call “Sharks”), each episode has several entrepreneurs pitching their business ideas in hopes of getting more money/funding to grow their business or build their business idea. There are a lot of financial and business terms in every episode and in this one several sports puns or references as well to baseball which is an industry closely associate to chewing tobacco. Sharks/Investors on the show say “I’m out” meaning they don’t want to invest in the idea. Sometimes on this show they say “I’m willing to have a 20% stake,” stake is another term for equity.
Some vocabulary to review ahead of time:
business pitch, brainstorming, capital, chewing tobacco or ‘chew’, entrepreneur, equity, Niche, Pouch, Seed money, Royalty/royalties (A royalty is a percentage or per unit amount paid)
Baseball terms:
Home run = a hit that allows the batter to make a complete run of each base and score one point per man on base
Questions:
What is the product?
Does this industry or product already exist?
Explain what you think they mean when we hear (at minute 6:40) “I see you carving out a nice niche”
How did the two entrepreneurs come up with this idea?
What were they offered by the Sharks?
What did they end up accepting or declining and why?
If you enjoyed this show and want to watch another clip, here’s another interesting one: Beloved Shirts
vocabulary to review ahead of time:
hype, sku, turnaround time, direct to consumer
