What is pitching on ‘Shark Tank’ like? Naples brothers share unique experience
Have you ever wondered what it takes to be on “Shark Tank” as an entrepreneur? The solution lies with a water bottle firm based in Naples.
The creators of COLDEST, a company that offers water bottles and other goods that keep cold for longer than 36 hours, are brothers Joe and David Ahmad.
The brothers applied to be on the popular TV show Shark Tank and made the decision last year. Despite not bringing home a catch—making a bargain with a shark—they said the experience had “tremendous value.”
Joe Ahmad was interviewed by Naples Daily News to discuss his “Shark Tank” experience with his brother David, according to an article by Kendall Little.
For the purpose of length and clarity, the following queries and responses have been modified:
Can you walk me through the application process?
Joe Ahmad: December 2022, at about one in the morning. “Shark Tank” was playing in the background while I worked on the company. Being a night owl, I thought, “What if we applied?”
I immediately filled out and filed a lengthy online application. Although our chances weren’t great—they were probably dreadful—I thought COLDEST was different.
To say “this process is lengthy” would be an understatement. On the checklist were:
Multiple applications
NDAs
Submitting business LLC formations
Background checks, product checks, fact checks, financial checks
Trademark and patent submissions
Business personal social medias submissions
Meetings with lawyers from ABC
How was the day of taping?
They pick you up in a “Shark Tank” van as soon as you get out of your hotel and drive you to the studios. These enormous gates let us in. Giant warehouse studio-like buildings, such as those seen on TV sets, stretch from left to right.
After the van halted, they led us to a waiting area or staging area furnished with a lone couch, drink, and snacks. One area had hair and cosmetics, and I could hear a few other business owners walking back and forth and frantically rehearsing their pitches.
They drove a golf cart to pick us up. We start speeding by a number of studio barn-style warehouses until we come across one that is labeled “Shark Tank.” These doors are enormous—I really mean it. There’s a set in the warehouse.
We swiftly assess the appearance of our mock setup and provide final touches with our approval.
What was the duration of the segment’s taping?
We spent roughly forty-five minutes filming in June of 2023. Much was said that was omitted from the 10-minute version.
How was the decision made on who would speak first?
We came up with a plan where Dave would handle any questions about figures, and I would handle any about the brand, what makes COLDEST unique, marketing, and other topics so that we wouldn’t talk over each other.
Episodes often center on a single brand, set of goods, or set of figures. Dave made the most of the (last) cut because they decided to concentrate on the figures.
Any regrets about choosing not to close the deal?
We don’t feel sorry for ourselves or regret passing on the transaction. In the long run, a royalty contract would be extremely detrimental to the brand. Still, it would have been a pleasure to collaborate with Mr. Wonderful (shark Kevin O’Leary).
The countless back and forth conversations to strike the best agreement with him were ultimately omitted, but it didn’t work out.
How do the Sharks seem in person?
We initially noticed the Sharks when we entered via the double doors. In reality, you only interact with them when they are broadcast.
The course of the talk was the one thing I wasn’t quite prepared for. To make good television, conversations and responses to our statements are, in my opinion, greatly overblown. Out of all the Sharks, I believe Mark Cuban stayed the most affable.
What did “Shark Tank” teach you about pitching and business in general?
Pitch work on “Shark Tank” is fascinating. We script the first one to two minutes of the show, which is when we pitch. The rest is all improvised.
In my opinion, a strong pitch requires both an understanding of your numbers and an unscripted conversation in which you genuinely and passionately share your story.
Since the show aired, have you noticed an uptick in business?
Indeed, there is, to some extent, a “Shark Tank” impact.
When I opened the Shopify app during the live broadcast, I observed that there were over 8,000 live shoppers on the website at once. Although it has somewhat decreased since then, the effect is still present.
Would you make any changes if you could go back and start over again?
In all honesty, not much would change! Being on the show was an incredible honor—even now, it seems like a dream and a haze.
It is true that I wish they had talked more about the brand, the product differentiators, the unique selling points of COLDEST, and the true histories of Dave and me. This whole thing, which I think would have been an awesome story, was left out.
Would you return to “Shark Tank”?
With all due respect, the answer is a loaded yes in retrospect.
Getting onto “Shark Tank” is a process that takes around a year. It’s a time-consuming, intellectually taxing, and physically demanding rollercoaster with no guarantees of airing.
Applying to “Shark Tank” is like having a full-time job at the same time you are trying to establish and grow an eight-figure brand; therefore, it can be one of the largest energy gambles.
In retrospect, it was well worth the effort, but I do feel bad for all the business owners who went through the difficult procedure, were shot, and were unable to have their show broadcast. Even if you tape, you really have no idea until three weeks beforehand whether you will air.
The strain of being on “Shark Tank” has a lot of benefits. It requires entrepreneurs, at least David and I, to ask ourselves all the difficult things both before and after you air. It’s not just in the show itself.
Asking yourself the correct questions begins when you examine each issue closely and see that the profit isn’t where you would like it to be.
The firm in 2024 will be significantly stronger and more successful than it was in 2023 because of all the pressure to have the brand ready.
How does COLDEST’s future appear to be?
Today marks the start of the COLDEST brand’s significant pivot, which will involve a reduction in categories and SKUs in order to concentrate more intently on the original goal of making the best, coldest water bottles.
After they sell out, the COLDEST bedding, comforters, sheets, dog beds, ice packs, and some bottle lines are being discontinued.
Customers at coldest.com can receive an extra 30% off closeout items when they apply the coupon “closeout.”
This article originally appeared on Naples Daily News
