The elevator is set to open its doors once again for a new season of aspiring
entrepreneurs hoping to reach new heights. The only thing standing in their
way. Uh 60 seconds. How do you plan to make money with this? A panel of
elite Titans? Is this the next Netflix prepared to invest their own money? What are
your sales? Hold the power to transform the lives of our entrepreneurs? Come on time is
money with the press of a button? That's all it takes to get in on this deal. Will they
elevate to greatness? Let's go. Yes or fall from glory.
This is entrepreneur elevator pitch presented by Amazon Business with
support from State Farm Meet our board of
investors, Kim Perrell, marketing mogul and tech ceo of 100 dot co
mark Randolph, co founder and first CEO of Netflix, Jonathan Hung, managing
partner of the entrepreneur venture fund.
First, a step in the elevator, an entrepreneur who plans to pump up the fitness industry with
game changing apparel at affordable prices.
Hello, Ashley, welcome to the elevator. Your 60 seconds
begins in 321.
I'm Ashley Rose and I'm the founder of Owe Fitness activewear. Oh, sweet fitness provides
buttery, soft, luxurious and affordable active wear to women without the $90 price tag with an
investment of $1300. I've generated $37,000 by investing in omni channel
marketing, ecommerce along with field events and partnerships with local gyms. Our
average order value is 8 $78. Um
and our margins are 70%. We're looking for $100,000 for a 15% share in the business to
work with a like minded investor. Our mission is to bring affordable active wear to women all
around the globe and to combat the affordability of active wear in the market.
I mean, this is elevator pitch. She has 60 seconds to nail it and she stopped 10 seconds
before the end and there was plenty of things she could have filled those 10 seconds with.
She didn't sell the sizzle for me and I don't want to take a bite of the steak. How much
slack do you give someone who's clearly a first time founder? I mean, all of us when we
started out, made mistakes like this. I started my first company at 23. So I actually
love to invest in those people and those individuals that have those big dreams. The
question is, is she surrounding herself with the right people, people have been there, done
that and can give her more guidance based on their own experience. Well, that is my conflict
in other words. Yes, that was a bad pitch. She left things unsaid. She didn't this information,
but gosh, I always am rooting for the underdog . I'm really not sure what I'm gonna do here on
that note. Let's vote, let's vote
attention. Ashley. Your pitch has been
denied. I'm proud that I did it but obviously disappointed
because I started the business after my fiance died and we were body building together. Um
So like I'm proud to be here and it's, it's really special. Um But obviously I'm
disappointed and you know, I don't really stop when things don't work out. It's not a fail.
It's I learned so much. So um it's gonna keep going.
This is entrepreneur elevator pitch and not only are you selling your product, you are
selling yourself. So make sure to stand up straight, be confident and tell me why I'm
going to bet on you
next up. Two brothers who aim to cure hangovers with their plant based recovery
beverage.
Hello, Ray and Justin, welcome to the elevator . Your 60 seconds
begins in 321. Hi, this is
Ray and this is Justin and we're the two co founding brothers of the plug drink. The plug
drink is an all natural plant based daily liver detox supplement that has 13 herbs,
plants, fruits and flowers. Did you know 100 million Americans right now today have non
alcoholic fatty liver disease. That's one in three Americans and that's an alarming stat our
company's mission is to bring awareness to liver health. We've grown over 500% in the last
two years where we generated 1.1 million in 2021 5 million in sales in 2022. And this year
we're projecting to do 12 to 15 million. We sold over two million bottles to date and
generated a net revenue of $10 million. Currently, we are raising $4 million out of 20
million pre money valuation. We've already raised one million to date and we have one
million Soft Circle and two million for 8% of our company. Now. Who wants to join the plug? I
love the data. So the financials are impressive. Like these guys have serious growth.
Well, I was a little confused because I heard numbers, I heard five million but then I heard
the other brother at 10 million. How important is it to you to hear the numbers of the day?
It's really important because I've been a CPG investor all my life and at the end of the day,
it's all about growth. This is a hit space business. You're not gonna go, you know, 20%
growth year over year, you got triple. And if they've mark 500% you know, at this point, I'm
always wondering have I learned enough that I really wanna see them or not? But only one way
to figure that out. Are you ready to vote. Well, let's see if we're gonna open the doors
for them
attention. Ray and Justin your pitch has been
approved. Let's go Ray and Justin,
welcome to the boardroom. Congratulations. Thank you. We're curious to learn more and my
first question is, how does this work? That's a great question. So think of us as your liver
sidekick, right? So when you're consuming alcohol, you break down the Elde Hyde or
alcohol in your liver. If you're not utilizing alcohol and using it for non alcohol purposes,
we detox your liver since it is the largest filter in your body. So one million in sales in
2021 but 15 this year projected in sales. That's a huge jump. What is
delivering that growth? We're mainly online based right now off of our DC website and
Amazon. But with our non GMO certification, our plant based certification, gluten free
certification and Kosher certification. We're really pushing out for our offline retail, roll
out to really help fuel. The growth is going to be our offline approach this year. Ok. But
there's so many products out there just like this. What makes you different? How do I know
the plug is the one I must have when I wake up . Um we actually have the highest herbal
concentration in all of North America relative to our peers and competitors. So we have 13
plants, flowers and fruit. We have no added sugar, no caffeine, no cholesterol, no fat. I
think that's one of our biggest advantages on the formulation side. Uh along with uh we
believe a derivative of that is taste and then lastly is enough of the marketing stuff here.
So you're raising $4 million total this round. Is that right? Yes. And what's that gonna be
used for? Uh So that's gonna be used to uh also boost, not only our advertising marketing
in store, but build our team out, You know, you're mostly D to C and I'm guessing on Amazon.
So how much do you spend right now? What's your customer acquisition cost to get one
customer to drink this? So our customer acquisition cost is around $41. And uh our A
O V though uh is roughly around 89 $90. I mean , we test her, I think right now,
I wish I would have had more to drink last night. I was being good.
All right. Am I supposed to get like a shot or tagline is the last shot of the night. Cheers
gingery fresh. Uh Did you
drink the whole thing? Of course, I did. My liver could use it. Listen, I mean, I know he's
older than us. I know this is gonna make our, our livers feel better. But what does this do
about your bank account? I actually like the opportunity. But when you say you're really
leaning into just liver detoxification, do consumers understand that? Like is that a
consumer? Yeah, I I would. So one of our main focuses and that's one of the main reasons why
if you look at our second product skew, which we only launched less than six months ago, what
we wanna do is scale vertically deep with different formats. So we came out with a drink,
then the pill, then we wanna come out with a powder version and then a concentrate version
all within a liver detox supplement kind of company. So it's better margins for us
internally and it's a cheaper price point for the masses. Sorry, what's your gross margin? So
uh so our drinks gross margins 55 to 60% and then the pills gross margins 85 to 90%. I'll
make this easier for you. Ok? So listen, I love anything with that kind of a growth story.
So don't get me wrong. That's really kind of impressive. And I can envision a world where
this sits on every truck stop counter and uh in America, it almost becomes a five hour
energy for your liver. I get it. It just seems so uncertain to me. You guys feel a little bit
scattered about what your approach is and it's something that I kind of don't feel comfortable
with. So I'm gonna make it easy for you guys. I
passed. That's fine. I want to learn more. How much have you guys raised
so far? So we've only raised two million today across 50 months all on a rolling basis. So
we've never had a lump sum amount internally and we've generated close to 10 million in net
revenue in just two years alone on the two million raise. What was the valuation at a 20
million pre money valuation? Even with your growth story? Just we know how much capital
it's going to take to build this business and scale it, especially when your eyes on the
retail prize, I get it. But 20 million is so expensive in terms of valuation. I know you
are like, it's totally worth it from an investor, from my standpoint. I couldn't
justify it because I just know how hard it will be even though I really love the product.
So for that reason, I'm gonna pass take it. Hm I think what I could do for you is pretty
simple. It's not about me giving you all that money because that's not me. I like to work
with you guys, you know, put a small little check in and see how we can grow and I think 20
million. I mean, did you hear how many sales, 15 million this year? I mean, with the people
that I know, let's get them, you know, the right customer acquisition for online. I mean,
and now go to retail, I mean, it's a totally different story when you go to retail, Jonathan.
So uh let's see, put your money where your mouth is, what are you gonna, what are you
gonna offer these guys. Listen, I'm not gonna speak for them. You know, I could speak for
myself. What I can do? Listen, I'm gonna give you my standard check. 25 K. Oh my God.
$20.25 K. 20 million valuation. That's all it takes to get in on this
deal. That is insane. No, gentlemen, I'm back in.
I'm willing to offer 100 K investment at the 7.6 valuation previously. Had they
have the growth? Why would you insult them by lowering their valuation? They were here for
more money, not less money at a lower valuation. 25 K is an insult, but it's, but
it's for their growth for their growth. They've proven themselves. Could you meet us
halfway at a $50 million valuation? No way. I do believe in you two. I believe in the
company. I believe in the opportunity and that's why I want to invest. So I will increase
my investment offer to 150 K at the last valuation because I truly believe you guys have
what it takes to get there. Wow, here's what I'll do. I'll double it. Go to 50 K at 15 if
we're gonna go discounting. All right, gentlemen, you've got two clean offers here,
Jonathan. You have 50 K at 15 million pre from Kim, you have 100 and 50 at the
7.6 million pre your previous round. So, what's it gonna be?
Can we have some time to chat about this. Yeah , but make it quick. OK?
I can obviously.
All right. Come on guys, make a decision. Yeah , come on time is money. Um
Your offer is great, Jonathan. Uh And we see the value add that you can bring uh not about
the check size. Uh We believe that Kim with her background and experience uh can further
propel our business to the next level. So let's make a deal slam dunk Kim.
Thank you. Thank you, Kim. We're very excited, feeling amazing right now. Super excited that
we partner up with Kim uh with her background and expertise. I can't wait to see what she can
bring to the table for us and take our business to the next level. Who Kim? Well done.
I mean you were out and you came back in. I didn't know that it was gonna be so low. I was
just like, oh, I should get a lifetime supply of the plug now. It's like, oh
entrepreneur, elevator pitch is presented by Amazon Business for every organization at every
stage of growth. Last in
the elevator, an entrepreneur who hopes to hit a hole in one with her innovative golf training
device.
Hello, Doreen, welcome to the elevator. Your 60 seconds
begins in 321.
Hi, my name is Doreen Ray. I'm the owner and inventor of clock golf, a golf training tool
for many years. I owned a cafe and a catering business. That closed due to COVID and my
husband that was a firefighter for 32 years, decided to retire, which left us with a whole
lot of time on our hands. So like three million other Americans, we decided to take up
golf. The only problem was we were not very good. I would get up to the tea. I would slice
my ball left, right. I just wanted to clock it down in the middle. I knew I had to take
matters into my own hands and come up with a training device that would work for me. So I
grabbed a uh ladies pair of nylons, a spike in a golf ball. And that was the
first iteration of what is now known as clock at golf. We've been featured in golf magazine,
Katie Couric Media and on CBS morning show, I'm here today asking for $100,000
for 10% of my business. I hope we can chat. I thought the
pitch was pretty good. It lacked a little bit of information which makes me wanna kind of ask
more. Well, you know, like I've always said, a pitch can give me the information I need, but
that could be telling me I don't need to hear more. Yeah. What do you think, John? I mean,
I'm curious how much it costs. I've done a lot of contract manufacturing my day. Let's see if
I can help her get it down. Well, certainly she invented something to solve her own need.
And it probably is from what I know most people struggle at getting better at golf. All
right. Well, are you guys ready to vote? Let's vote. Let's do it
attention. Doreen, your pitch has been
a cruise where? Welcome to the boardroom. Thank you.
Thank you for having me here today. Very excited before you get too excited. I want you
to know this was not a unanimous decision and I'm gonna give you one more opportunity to nail
this pitch and sell us on why we need to invest in your product. Ok. So I, I'll tell you
that it is a training device that I use because, uh, it was a problem that I was
solving for myself as a beginner golfer, I needed help to um, help practice my swing. And
whenever we get in front of people, we have great sales. It's just a matter of, well,
that's interesting. You bring that up. What are your sales we've been in? I mean, on the
market for, um, a year and a half and our sales are 100 and $75,000.
And the first year was, how much is each one of these units? Uh, 59 99.
But isn't this just like a ball on a string? No, no, let me show you there
is um, a metal spike cork screw spike at the bottom that goes into the ground and it's a
hard metal top and the cork on the bottom will help, um, will help the device to stay in the
ground. And then when you extend the accord and it's a nautical grade cord. So a nautical
grade means so that you can hit it and it won't break, it won't snap. And it's a real
golf ball, which is a big difference from a lot of other things that are out there that are
fake. Where is it made? Why is it so expensive ? Why is it so expensive? Because it's a great
training device that we're all gonna use in this day and age. We're doing a R V R, you know,
we're hitting balls against the, the green screen. Why would you want to do that? You
wanna be outside in the fresh air? We're gonna put you on the spot. Why don't you show us how
good your swing is that? Now? I have some heels on but I'm gonna give you beforehand.
Jonathan, would you mind trading seats with me ? I'm gonna hit it lightly because I don't
want, you know, no pressure. Wow. Right
now, can I tell you a year and a half ago? I couldn't hit a ball. Give it a shot. Jonathan,
I'll get up and take a shot. I mean, why not give it a whirl? Let's see. Oh,
do I have the right stance right handed too? I know I'm gonna do it weird. You got this? Oh.
Oh, that was horrible. Awesome. Thank you. How much you raising?
Um I'm looking for $100,000 for 10% of my business. My biggest concern is just where is
the data, you know, we live in this world now where we want to know every little microsecond
of what we do, how we swing. I mean, that's my biggest issue. So we have impact tape that you
put on your golf club and it'll show you where you hit your golf club. So it'll help with your
swing. Some feedback for that. It scares me that this is a sucker product and
that's no inflection on you, but it means that it sells because it looks like it will help,
but you could just as easily reinforce bad shots. Just seems so simplistic that it's hard
to imagine this really becoming a big thing and I'm afraid I'm gonna pass it on. That's
fine. Thank you so much. I like your idea. I love your entrepreneurial spirit. I
love that you created this but so early for me , I am what I'm gonna pass.
OK. Thank you though, Doreen in the age of A R and V R. How is this product gonna be, what's
coming out in the future right now? Because what's really important is data. It's all about
data collection. If you had an app, if you had something in the ball that we could track and
see if I'm doing it right. I don't see this as something that someone will use day in and day
out to get their golf game better. And for that reason, I think I have to pass. Ok.
Unfortunately, Derain, it does not look like we're gonna be able to make a deal today, but
best luck in the future. Thank you for having me today. It was a great experience. Thank you.
I don't feel as though the um, investors fully understood what, what clock it was all about
and how they could benefit from it. The future for clock golf. We're just gonna keep swinging
away. Some products do not need to be products .
I agree. But why don't you try it out? She's gone now, this could be horrendously
embarrassing. But let's see what happens. I'm not worried. All right, let's give a shot. God,
I haven't done this in a long time. Who hey,
not so bad while two
entrepreneurs were able to secure a high flying deal with Kim Perrell two were sent back
down to the bottom floor with nothing to show whether it's a new invention or a new way of
living life. Anyone could be 60 seconds away from rising to greatness or fall
from glory Tune in next week as entrepreneur elevator pitch continues. So
how is this gonna change the world and to apply for the next season? Go to entrepreneur
dot com slash elevator pitch. Investors personally styled by celebrity stylist, Kim
Bola