Next up are Richard and Juli Rhett of Sierra Madre Research, seeking $175,000 for 15 percent equity.

Key Takeaways: Sierra Madre Research on Shark Tank

  • Pitch: Seeking $175,000 for 15% equity.
  • Product: Durable camping gear, including hammocks and shelters.
  • Valuation: On track for over $400,000 in sales.
  • Investment: Accepted $175,000 for 15% equity from Richard Branson with profits going to charity.
  • Latest Update: Sierra Madre Research continues to innovate in the camping gear market, expanding their product line and maintaining a strong customer base.

The Story of Sierra Madre Research

Sierra Madre Research adds a level of “protection, comfort, and durability” while camping.

Their gear protects campers rain or shine and provides insulation and waterproof elements. Hammocks start at $79 while the hammock shelters start at $119.

They believe that the Sierra Madre mountain range truly embodies the “adventure and culture” of their business.

How Did the Sharks React?

The sharks find it fun and comfortable, but Lori Greiner worries that the hammocks might be hard to actually get into a tree. Sierra Madre Research is the first, but not the only, hammock-tent.

Guest shark Richard Branson thinks it takes the romantic elements away from using a tent when camping. Daymond John thinks the company and their mission are incredible, but wouldn’t know how to help them. He goes out.

Greiner thinks the space may be a bit overcrowded and goes out, followed by Mark Cuban and Robert Herjavec. They are on track to do more than $400,000 in sales this year.

Branson, their last hope for getting a deal, offers $175,000 for 15 percent with profits going to charity, which they accept.

Social Media Reacts to Sierra Madre Research’s Appearance on “Shark Tank”

Closing Thoughts

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;
  • Robert Herjavec, technology guru and founder/CEO of the Herjavec Group.

Philanthropist and Virgin Group founder Richard Branson, Spanx founder Sara Blakely, Skinnygirl Cocktails founder and Real Housewife Bethenny Frankel, Vitamin Water founder Rohan Oza and former MLB player Alex “A-Rod” Rodriguez are also slated to appear as guest sharks 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 $100 million in various companies after engaging in numerous bidding wars and shark fights. A new episode airs each Sunday at 9 p.m. on ABC.

Would you use any Sierra Madre Research gear? Sound off in the comments section below!

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