Shark Tank- Hartselle style
By Randy Garrison
Hartselle Mayor
Many of you have watched the popular television show “Shark Tank.” From Wikipedia- The show features a panel of possible investors, called “sharks,” who requests from eager entrepreneurs asking for investments for their business or product. The entrepreneur can make a deal on the show if a panel member is interested. However, if all of the panel members opt out, the entrepreneur leaves empty-handed. The show is said to portray “the drama of pitch meetings and the interaction between the entrepreneurs and tycoons.
Last week, along with others in our city, including Superintendent Dr. Dee Dee Jones, upcoming State Representative Scott Stadthagen, local business owners and bankers, I served as a “shark” for Cory Kreiger’s AP Economics class’s version of “Shark Tank.” This was an assignment for the classes in developing a business plan, looking for funding and the steps involved in operating a business. The students in Kreigers’s class were only given four days to come up with a company or product, develop a business plan, a presentation, and be ready to present it to the “sharks.”
Most of the students worked as a group of 4, however there were groups of 3, 2 and even a couple of single prospective entrepreneurs. Each was given approximately 13 minutes to explain their product or business venture, discuss the business plan and then ask for investments or funds from the “sharks.” Most also offered a percentage of their prospective companies in exchange for investments from the panel of ‘sharks.”
The presentations included every type of business from non-profits to several who wanted to operate and open some type of food establishment. Several had large dreams and ideas for their business while others had business plans that were possible to open currently. One non-profit presentation involved operating am uber-type transportation system that would offer rides home for those who had too much to drink. This group even developed a working phone app that would show where the person was located and directions to their home.
Other presentations included sweets on a stick, this group even offered samples of their product to the panel. Others wanted to open a drive-in theatre-family entertainment facility that would even include gospel concerts on Wednesday nights. One of the most interesting proposals was referred to as a ‘tedal.” This was basically a pedal that when stepped on would open and close a toilet seat, solving one of the biggest issues in households with both males and females.
The other “sharks” and myself were very impressed with the thought, work and dedication that was placed into the project. Other presenters also developed web sites, apps and more than one included three dimensional videos for their proposed companies. Most had business plans that would rival those actual businesses had put together. Each group or individual was enthusiastic about their proposed business venture and even more impressive was the desire of each group or individual to help their hometown. Most, if not all the proposals included in their plans a way this business venture would benefit Hartselle.
While this was a fun venture to participate in, and the panel dished out hard questions and rebuttals to the proposals, the students held fast to their beliefs and without a doubt these students will go onto to be successful and contributing members of society. They may not open a theatre, or a bar & grill, but whatever the future holds, success will be theirs for the taking.
