With a simple product such as Calm Strips, which are beneficial for people dealing with a whole spectrum of mental disabilities and struggles, the panel on “Shark Tank” saw a profitable opportunity. The company’s founders, Michael Malkin and Luce Fuller, came in asking for $250,000 in exchange for 10% of their business.
After the initial presentation, both Daymond John and Mark Cuban didn’t see much potential and dropped out. Meanwhile, Robert Herjavec, who stated that he has several autistic family members, had a more positive reaction. Eventually, a deal was struck as the Shark handed over $250,000 for $2.50 back per unit until getting that investment returned, then $1.50 per unit until reaching $750,000.
Calm Strips continues to grow, now offering an impressive variety of styles, textures, and designs. As more attention is drawn to students’ mental health, education packs are now available, containing enough Calm Strips for an entire classroom.
Both Malkin and Fuller were not only smart enough to jump into a retail section that’s getting plenty of attention, but they also did it with a quality product. Whether they are stuck to a school desk for a student, a computer or phone for an adult at work, or anyone who is looking to manage their own mental state, Calm Strips are the perfect quick-fix for everyday activities. The company’s success, so far, has proven that there are plenty of people out there who agree, and it can be considered one of many successful products from “Shark Tank.”
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