Shark Tank: Kevin O’Leary Invests $150,000 in Beardaments

Jason McOmber is joined by his son Cooper in the Shark Tank to present their unique way to spread holiday cheer. Beardaments is a company that was founded by Jason when he began decorating his beard after a few too many drinks. After launching his business where he designed Christmas ornaments specifically for beards, Jason quickly began selling out of his product. Noticing a demand for beard bling, Beardaments expanded and began carrying beard glitter and oil in addition to a wide range of beard accessories and decorations.

#SharkTank @mcuban pic.twitter.com/dBBAuTx28C

— Shark Tank (@ABCSharkTank) December 2, 2019

In order to expand his product offering by offering accessories for more holidays, Jason is hoping to partner with a Shark that can help him increase his inventory and offering. Beardaments is seeking $150,000 in exchange for 10% equity in their company. Although the Sharks found the product to be initially laughable, they are amazed by how quickly the company has grown. Each year Beardaments has increased sales by roughly 50% and is projected to close this year with $700,000 in sales.

Although many of the Sharks feel that Jason is very successful on his own and does not need a Shark, he begs them to reconsider citing that he will not be able to adequately grow without the financial contributions and strategic guidance of a Shark. He tries to lure the Sharks back in by discussing the market size and financial growth potential. Just when it was looking as if he would not be getting any offers from the Sharks, Kevin O’Leary decided to offer $150,000 in exchange for a 25% equity share in the company. Jason accepts Kevin’s offer. Kevin thinks that the product is fun and has potential. He is excited to add Beardaments to his portfolio.

I say there’s no such thing as an overnight success, but going viral can definitely set your business into hyperdrive. Remember though, it's up to YOU to capitalize while it's hot. #Beardaments #SharkTank

— Daymond John (@TheSharkDaymond) December 2, 2019

It’s wild to think about the sorts of ideas that change people’s lives…this dude is making $80,000+ in sales a month selling BEARD lights. 2019, man! #sharktank pic.twitter.com/441uUQWc0l

— Kevin O'Leary aka Mr. Wonderful (@kevinolearytv) December 2, 2019

Never doubt the power of a good gimmick! The sales are the proof! @beardaments #SharkTank

— Barbara Corcoran (@BarbaraCorcoran) December 2, 2019

RT if you love this look for @robertherjavec #SharkTank pic.twitter.com/PrHVc9bvKe

— Shark Tank (@ABCSharkTank) December 2, 2019

Do you think that Kevin made a wise decision in partnering with Beardaments? What holidays or potential product areas would you like to see them expand into? Begin the conversation in the comments below!

Shark Tank airs Sunday night at 9 pm on ABC.

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