Season 5 | Episode 502 | EP502
In Season 5, Episode 2 of Shark Tank, Jim O’Brien approached the Sharks seeking an investment of $10,000 in exchange for 10% equity in ‘Man Medals’. His company is based in Detroit, MI.
Man Medals is a rather simple concept. The idea is that you award a man a medal each and every time they do something that they are seeking praise for. The medals have been designed for rather mundane tasks such as a ‘picking up dirty clothes’ medal, a ‘putting the toilet paper roll on’ medal and even a ‘stopping to ask directions’ medal. Basically there is a medal for anything that a man is normally reluctant to do. Jim made it clear at this point that while there were only a limited amount of medals in his range at the moment it was a business idea with virtually unlimited expansion potential with the ability to add medals for just about any chore or activity (he planned to introduce medals for fathers in the military later on in the year).
The Sharks were intrigued when Jim O’Brien announced that he had shipped Man Medals around the globe. They were even more intrigued when he announced that the profit margins on his medals were particularly substantial. However the Sharks were not convinced that this was a viable business model.
Jim, at the time of his entry into the Shark Tank, had sold just $2,500 worth of medals. The Sharks had no problem with the small amount of sales that the product had made...they just did not see it going anywhere in the future. The Sharks had trouble believing that Man Medals would be a product that people would actually want in the long-term. They believed that somebody would purchase a medal once and just be done with it. Most people would skip over the Man Medals altogether. It would be a novelty product that is incredibly tough to market and it would likely be something that would stop selling completely a few years down the line. It was for this reason that the Sharks pulled out. They simply could not see a return on their investment.
Jim O’Brien was unable to attract offers from the shark investors. He therefore left the Shark Tank empty handed.
Jim O’Brien was unable to encourage the Sharks to invest in his product. He did not receive any offers as a result.