next into the tank is an innovation to a classic grooming ritual [Applause] hi sharks my name is Mike gutow I'm from Metro Detroit Michigan and I'm seeking a 300 000 investment for 10 Equity every company that has padded technology that's set to disrupt a 50 billion dollar year Global industry sharks I'm talking about the Shaving industry so what's the problem with shaving receiving shaving come out like this you're doing the adverse thing you should be doing I'm not exploiting my skin I'm closing the pores of my face up and I'm actually mad my hair follicles down now I'm gonna go to Roman reigns with my face I'm gonna rip it and pull my hairs out which gives me the razor bumps and burns we all hate not only that look at the massive Oasis creates more enhance the product I don't even use it gets washed down to drain but this is not how Grandpa shaved see with all the advancements in the Shaving industry the one thing that has been overlooked has been the shave brush but we don't have time for this anymore this is why we created Legacy shave the world's first Universal patented Shea Bryson dispenser all in one this is a modern shade brush for modern times watch how quick and easy this is one small pump the product comes right through the brush oh wow this little bit this is all you need now you apply it to your face your body you're doing exactly what you should be doing I'm exfoliating my skin I'm cleaning out the pores of my face I'm stimulating my hair follicles sticking them out and up now when I go to run a razor my face I get the cleanest closest shave possible goodbye razor bumps it burns and goodbye mess and waste great job but here's the amazing part sharks Legacy shave fits every single manufacturer out there doesn't matter men or women's foam or gel cans even down to the travel sizes there it is sharks I ask you who wants you your legacy and join team Legacy shave and let's disruptive 50 billion dollar year industry together let's go let's go presentation ever Mike how does it work Mike let's do a couple small gentle pumps yeah there you go a lot comes out a little bit Robert perfect that's all you need oh this is good shaving cream it's amazing shaving cream it's cleaner ingredients infused very heavy with aloe what do you sell it for we sell that for 24. 95 what does it cost you to make it cost me 5. 39 to make just a brush we sell for 19.
95 how did you come up with this 28 years ago we he might dad a gift for Father's Day we thought he would love see my dad was a daily shaver and he always complained about how his electric razor would always give him razor bumps and burns so my brother and I got a really expensive old-fashioned shape brush and he just looks at us and goes you know what guys I'm not going to be able to use this it's just not for me I don't have time for this well crushed and devastated my brother and I were like there's got to be a different way so the idea came up why don't you just put a brush on that and now you have a shave brush we ran to the hardware store my dad picked up a clay a putty that you could mold and form and shape in a disposable paintbrush next day we wake up my dad just comes strutting down the aisle smiling ear to ear just like that and we're like What are you so happy for you're never happy in the morning he goes don't you two Knuckleheads remember the Shea brush we invented yesterday well it worked it's awesome I've never had a better shave that's great so my dad he knew a plastic injection molder four months later we get 20 prototypes back and this is where things kind of took a turn for the worst sharks fear and it's been documented several times that people have ideas and inventions that they spend money pens to protect it their whole entire life savings that bring up with a new idea and concept only to have the bigger companies rip them off and it's basically David versus Goliath and we sat there in fear and that's basically where it sat for literally 20 years sharks unfortunately my dad passed away from cancer sorry years after my dad passed away my brother and I go down to his basement and there it sits my dad's workbench I open up those boxes and sharks remember I told you only thought we had 20 or 30 prototypes well there sat three thousand what of our original prototypes from 28 years ago um but my dad had sat and assembled during his chemo treatment time to keep himself busy he knew we would eventually see this and sharks he left one more thing for us what a note a message Beyond a grave that said don't wait life short take the shot wow wow it was at that point in time my brother and I just looked at ourselves and said we have to do this and what is the difference now that was different from 28 years ago there's a very popular show on TV that gave entrepreneurs a chance to Showcase their products to millions of people what show is that it's Shark Tank and it was because the show is out there my brother and I got the courage to say you know this gives David versus Goliath a chance you guys are a rock and the last thing that we wanted to do is to be on our Death Beds wondering what if and so that's when the process started I understand now why you called it Legacy shave yes you had a great like great call let's get back into the business what are your sales for this product to date we sold over a hundred thousand units and did over a million dollars a hundred thousand years and that's over one period of time five five years give us the sales over the last five years year by year year one we did about seventy thousand dollars did you make any money that year we have not okay in fact we've been in a red every single year sharks you're two year two 370 000 year three we did about 390 000 last year what were the sales last year last year was close to ninety six thousand dollars and what will they be this year so far we've done forty two thousand dollars but we do have a purchase order for sixty three thousand dollars the trend is not your friend Mike what's going on here here's 390 then they start dropping why we're a family bootstrap startup company we've taken as far as we can we are out of money how much have you lost over the five years date as a family we have personally invested over four hundred thousand dollars into this business and sharks we really try to be a director consumer product however my brother and I you know we're trying our best we're not Geniuses behind us when money's like Mike Mike lemon just interrupt you just for a moment um my large concern with you is you're a phenomenal salesman but you're not a clear Communicator you're all over the map and I don't think we'd be great partners for that reason I'm out it's it's not a good set of circumstances for us that you're out of money right so it's not a fit for me I wish you guys the best but for those Reasons I'm out you haven't even seen the best thing about this product our patents do not just cover the Shaving industry our patents cover the entire aerosol industry out there cleaning multiples billion dollar industries that our invention changes rather than hairdresser just being like a little stream it's a power air duster the nodes take a shot on the Shaving that was your your dad talking to you from Beyond the Grave which was very moving I've been on Shark Tank for 14 years I've never heard a story like this so the the the Shaving category that you're competing in is incredibly crowded and dominated by behemoths it's it's a really big challenge um I'm not going to take that Journey with you I'm out I see a lot of challenges with it I wish you all the best but I I don't want to be in the shaving cream business so Mike it's not for me I'm out but I think Lori still hasn't left I really like the interchangeability of this cap onto anything and I like the thought of that there are other things that you can do with it and that you have a patent now all that being said you don't have many sales you haven't proven this but I also look at it as your family and you don't have a lot of experience in the consumer product world um I'm gonna take a real flyer on you Mike because this is really not like something I ever would think I would invest in but I also know good product when I see it so I'm going to give you a royalty deal but it's not like Kevin's I'm going to give you a million dollars for 100 of your company whoa what wow and I will give you a royalty of three percent of the net sales for Life wow I'm going to give you a million dollars to buy out your patent the product the everything you won't have to do anything anymore I will try to give it a go I'm pretty good at this kind of thing and then I will give you three percent of net sales on whatever I sell for life my decision though was based on that this is probably the coolest shaving experience I've ever felt it is really wonderful yes or no Mike a million dollars advisory encounter some Mike too would you be willing to do that offer where we can have five percent equity of our company still and that way it guarantees us that we can carry on our Legacy that's very smart Mike that's called schmuck insurance and explain why that's so smart mark because if it turns into an amazing deal you don't want to look like a schmuck because you gave away the whole thing right and so by retaining five percent when Lori turns this into a 10 million or 20 million dollar company then your five percent is actually worse like you don't even need that because I am the royalty King let me explain what happens if she gets bought out by a big shaving company they're going to want to buy out your voice too that is your smuck insurance against all of that royalty into one check I mean you don't have to do if you if you want schmuck insurance so to speak uh then I would come down and the money I'm giving you because now you're retaining five percent of your company right not much so well ten percent now you're 9. 50 I would go down no 700.
