|SEASON 1 EPISODE 11|
|Pitch||printer ink cartridge refill service|
|Asked For||$150,000 for 20%|
|Status||Out of Business|
Coming up with a really great idea feels so empowering, but how good your business idea is doesn’t always hold that much weight. If you have an excellent idea but you don’t market it properly, your business will come to a grinding halt and you’ll never know what could have been.
However, with the right guidance, your business can take off rapidly, and that can make even the least flashy product appear blindingly bright.
What is InkFlip?
Ink Flip is the conceptual child of Andy Sperry, and so practical, it may leave you wondering why this isn’t the way it has always been done.
It aims to save money while saving the environment, with very minimal personal effort. And it does so as your toner provider, using reusable, refillable toner cartridges.
Imagine your toner runs out. With Ink Flip, you would install the extra cartridge that you have on hand, while you send the empty one back using the Ink Flip box, which has been paid for and pre-filled with the required information. This system comes with several benefits:
- consistent supply of toner
- much more environmentally friendly
- save up to 70% on toner
- free shipping
- 100% satisfaction guaranteed
One day, when Andy was at work, he found himself in a situation that many people can relate to. He was finishing up the last touches on his presentation when the printer suddenly ran out of toner.
This unfortunate situation could have been prevented with the right foresight or preparation, and Andy wants the solution to be as easy and straightforward as Ink Flip.
InkFlip on Shark Tank
Andy went in front of the judges and told them he wants $150,000 in exchange for 20% of his company and then proceeds to fill the Sharks in on how it works.
The Sharks have a number of questions for him, like what his sales are and if there is a financially viable future in this business. Andy assures the Sharks that the cartridge refill business is huge and even though he has only been in this business for about six months, he has $10,000 in revenue.
After many more probing questions, the general consensus between the Sharks is that Andy should’ve worked out all of the figures before coming on the show and that’s why he walked away without an offer.