A successful business owner of a local wholesale pie bakery went onto the shark tank. His business grossed about $850,000 a year with about 20% profit each fiscal year. This is what was selling on his business.
The sharks heard out his story, and what he was selling the business for; 460k for 10% of the company. But was eventually shot down and cornered to the last offer of 230k for 50%, which he took.
What I can take away from this, is the common situation of over-valuing your company. it is important to maintain and perspective on your company. If you over-value your company, you scare away potential investors, and seem too optimistic.
The sharks heard out his story, and what he was selling the business for; 460k for 10% of the company. But was eventually shot down and cornered to the last offer of 230k for 50%, which he took.
What I can take away from this, is the common situation of over-valuing your company. it is important to maintain and perspective on your company. If you over-value your company, you scare away potential investors, and seem too optimistic.
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