Sophie Nistico appeared to have all the pieces in location for a huge financial investment offer on ABC’s “Shark Tank.”
Nistico is the creator of Trumbull, Connecticut- based garments brand name See The Way I See, which offers clothes emblazoned with psychological health-related expressions. She began her company in 2020 with simply $500, she stated on Friday’s episode of the program.
By the time of the episode’s taping, it had actually generated $2.3 million in year-to-date sales, Nistico stated. She invested no cash on marketing, due to a big social networks existence, and had more than $400,000 in the bank, she included. She was just 24 years of ages.
Nistico, who stated she began See The Way I See after fighting “severe” stress and anxiety throughout high school and college, asked the program’s panel of financiers for $250,000 in exchange for 10% of her business’s equity.
“I have zero background in business, my family has zero background in business and I just feel like I’m hitting that point where I need a mentor,” she stated.
Every financier decreased, for an easy factor: They didn’t see any method to assist her improve. “What do you need a Shark for? You’re doing so well,” Daymond John informed her.
“You are making a boatload of money,” Mark Cuban included. “You’re a star.”
When Nistico very first released See The Way I See, she offered “mental health-based” sticker labels on social networks. She believed it ‘d take months to offer out, however it “only took two days,” she stated. The success of her sticker labels permitted her to broaden into garments.
The capability to make that take place isn’t typical, no matter just how much experience– or do not have thereof– you might have, the program’s financiers informed Nistico.
“I don’t really know how to help you,” stated Kevin O’Leary “This thing where you don’t know anything about business, I don’t really buy it anymore. You’re doing better than 90% of the people who stand in front of me there.”
Cuban and Lori Greiner took it an action even more, stating it would feel ethically incorrect to take a portion of Nistico’s business without having the ability to use her mentorship in return. Instead, Cuban provided Nistico some heart-to-heart suggestions.
“Let your community grow your business, not a team,” Cuban stated. “Be who you are to your community and you’ll grow with it. And you don’t want an investor for that, because you’re already putting money in the bank and all we’d be doing is taking what you earned.”
“We’re sorry we wasted your time,” John joked.
Ahead of the episode’s best, Nistico revealed the nerves she felt in an Instagram post. “If you know me, you know my number one biggest fear is public speaking,” she composed, including: “I wanted to prove to myself, and to others who struggle with their own mental health that they’re more capable than they think.”
On screen, she appeared both amazed and encouraged by the financiers’ appreciation.
“That was really difficult for me to do, but they really did give me a boost of self-confidence,” Nistico stated. “After today, I really feel as though I can do anything.”
Disclosure: CNBC owns the unique off-network cable television rights to “Shark Tank.”
DON’T MISS: Want to be smarter and more effective with your cash, work & & life? Sign up for our brand-new newsletter!
Get CNBC’s totally free report, 11 Ways to Tell if We’re in a Recession, where Kelly Evans examines the leading indications that an economic downturn is coming or has actually currently started.
