They oughta call it ‘Shrink Tank!’
“You have to talk to a psychiatrist before you leave,” says Meg Meyer, whose company The Bear and The Rat failed to receive funding from the sharks in season 4.
“They want to make sure you realize that not being funded isn’t the end of the world. They don’t want you to go home depressed.”
Meg admits she was disappointed that none of the sharks were willing to make a $125,000 investment in her probiotic ice cream treat for dogs.
But Meg and husband Matt quickly found an outside investor and now their business is thriving.
“He saw the show and he reached out to us,” Meg says.
“The exposure of being on the show was worth more than anything I could pay. I don’t know if we would have a business without it.”
With their investor — who is not a shark but is a big fan of the show — The Bear and the Rat expanded its distribution to stores in 28 states and are launching a line of non-frozen treats for direct online sales.
“When our episode is rerun on ABC, 6-8 million people see it,” Meg says. “When it airs on CNBC, it gets at least a million views. We see a bump in sales and traffic every time.”
Since their appearance, the Meyers went from tens of thousands of dollars in sales to millions.
“It’s a gamble,” Meg admits. “They’re so high-profile. We really wanted to do business with Barbara [Corcoran]. We know other entrepreneurs who pitched and are in with Barbara. She’s very involved with those businesses. It was disappointing she wasn’t on our panel.”
SHARK TANK airs Fridays at 9|8c on ABC.
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