Additional Coverage:
- ‘Shark Tank’ offers a life-changing deal to teenager after an intense negotiation with Mark Cuban (marketrealist.com)
Teen Entrepreneur Sweet-Talks Mark Cuban into a $100,000 “Shark Tank” Deal
A young entrepreneur proved that age is just a number on a recent episode of “Shark Tank.” Lani Lazzari, founder of Simple Sugars, a line of sugar-based scrubs, confidently pitched her business to the Sharks, ultimately securing a sweet deal with Mark Cuban.
Lazzari’s story began at age 11 when, frustrated by her eczema and the lack of effective skincare products, she began developing her own. Using high-quality ingredients like essential oils and sugar, she created a scrub that not only exfoliated but also soothed her sensitive skin.
What started as a personal solution soon blossomed into a business, with Lazzari selling her scrubs to friends and family. By the time she appeared on “Shark Tank,” Simple Sugars was already generating impressive sales figures, having joined the Powerlink Protégé program at the University of Pittsburgh’s Institute for Entrepreneurial Excellence and achieving $80,000 in sales.
The Sharks were impressed with Lazzari’s entrepreneurial spirit and product. Lori Greiner even praised the scrub’s effectiveness after trying a sample.
However, some Sharks expressed reservations. Daymond John and Robert Herjavec both opted out, feeling Lazzari might be better off continuing independently.
Kevin O’Leary was more blunt, dismissing Lazzari’s valuation of the company at $1 million.
With three Sharks out, Lazzari’s hopes rested on Mark Cuban. After a brief Q&A, Cuban, clearly impressed with the young entrepreneur’s poise and business acumen, offered $100,000 for a 33% stake in Simple Sugars. After a brief negotiation where Lazzari countered with 25% and Cuban held firm, she accepted his offer.
The deal proved to be a lucrative one. Simple Sugars has since gone on to achieve remarkable success, with annual sales now reaching $5 million and lifetime sales exceeding $35 million, proving that sometimes, the sweetest deals come in small packages.