The final entrepreneurs to enter the tank are Alex Craig and Riad Bekhit of Potato Parcel, seeking $50,000 for 10 percent equity.

Key Takeaways:

  • Potato Parcel offers unique potato-based messages for special occasions, gaining attention on Shark Tank with their quirky business model.
  • Despite initial skepticism from some sharks, they secure a deal with Kevin O’Leary, showcasing their sales success and potential.

Company Overview: Potato Parcel, founded by Alex Craig and Riad Bekhit, specializes in delivering personalized messages on potatoes, capturing attention with their unconventional approach.

Have you ever wanted to send a unique kind of postcard when the standard type just won’t do?

Enter Potato Parcel.

They allow you to send personalized messages—on a potato, of course! A standard Potato Parcel costs $9.99, while offerings like the Potato Postcard and Potato Pal cost $12.99 and $14.99, respectively.

For an additional $4.99, you can send the potato in a burlap sack. According to CNBC, Craig “has averaged $10,000 per month in sales since the business launched in May 2015.”

Donning potato costumes, the sharks laugh about their idea, however, they have sold more than 12,000 potato messages and have $215,000 in sales. They place the potato in an envelope to up the surprise factor.

They also have “seasonal” potato offerings, including spooky potato messages for Halloween and potato ornaments for Christmas.

Bekhit owns 100 percent of the business, with a contingency for Craig that he would earn a $1 royalty for 60 days if they got on “Shark Tank.”

Robert Herjavec thinks the idea is cute, but doesn’t like the valuation. Daymond John thinks they took the gag idea a little too far and goes out, as does Lori Greiner. Mark Cuban doesn’t see it as “completely crazy” either, but goes out.

Kevin O’Leary offers $50,000 for 10 percent, first sharing in Craig’s $1 royalty at 50 cents, then after 60 days, increasing to a $1 royalty until $150,000 is repaid. Herjavec then offers $50,000 for 25 percent.

They counter Herjavec at 17.5 percent and counter O’Leary for not splitting Craig’s royalty and simply getting a $1 royalty individually.

Ultimately, they accept O’Leary’s deal.

Each week on “Shark Tank,” budding entrepreneurs have the opportunity to pitch their emerging business to six multi-millionaire and billionaire investors, known as sharks: Mark Cuban, owner of the Dallas Mavericks; Daymond John, fashion mogul and founder of FUBU; Kevin O’Leary, self-proclaimed Mr. Wonderful and founder of O’Leary Financial Group; Barbara Corcoran, real estate maven; Lori Greiner, queen of QVC; and Robert Herjavec, technology guru and founder/CEO of the Herjavec Group. Venture capitalist Chris Sacca is also slated to appear as a guest shark this season.

“Shark Tank,” which is based on “Dragons’ Den,” is produced by Mark Burnett and first debuted in 2009. To date, the sharks have invested more than $87 million in various companies after engaging in numerous bidding wars and shark fights. A new episode airs each Friday at 9 p.m. on ABC.

Social Media Reacts to Potato Parcel’s Appearance on “Shark Tank”

Would you send a Potato Parcel to someone? Sound off in the comments section below!