Biz Tips: Shark Tank: Pickup Pool Accepts $100,000 From Mark Cuban

Biz Tips: Shark Tank: Pickup Pool Accepts $100,000 From Mark Cuban

Biz Tip:

Shark Tank: Pickup Pool Accepts $100,000 From Mark Cuban

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Tommy Prestella is an active duty Airforce pilot who has seen a lot of hot, undisclosed locations throughout his service. He also lives in California where the temperatures can get very warm. Tommy got tired of sweating through his clothes and decided to design a creative way to stay cool. He decided to turn the bed of his pickup truck into a swimming pool. Tommy designed the first ever Pickup Pool and applied for (and received) a patent for an adaptable watertight barrier. This means that the Pickup Pool is the only product on the market who can make the bed of a pickup truck watertight.

The product simply slides over the bed of your pickup truck where it can be filled with water. After the user is done cooling off, they can drain the pool without having to lower the tailgate. Currently, Tommy is primarily selling these items online and has seen lifetime sales of $12,000. The Sharks are initially concerned about the low sales volume, but then they learned that Tommy was deployed during the last few years which prevented him from working on this company more. In his absence, his sister is also a partner n the company and can help make business decisions if needed.

That Sharks would like to see the cost of the Pickup Pool come down so that more families could afford to purchase it. His goal is to purchase the pool liner material that the Pickup Pool is composed of for a cheaper cost so that he can pass those cost savings along to the consumer. Barbara Corcoran is the first Shark to extend an offer to Pickup Pool. She offers $100,000 for 25% equity, contingent upon her talking to and meeting Tommy’s sister to be sure that she is interested in having her as a part of the business. Mark Cuban also decides to make Pickup Pool nan offer. Mark offers Tomy $100,000 for a 33% share with no contingency as Barbara has. He accepts Mark’s deal and officially partners with him.

Do you think this was a wise investment for Mark Cuban? Would you use this product? Leave your comments below!!

For a full summary of this episode, check out this article. Shark Tank airs on Sundays at 9:00 PM EST.

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