Tie Try Shark Tank Episode – Product Reviews and Where to Buy

In this article, we will explore the fascinating story of Tie Try, a menswear subscription service that appeared on Shark Tank in episode 411. We’ll delve into the pitch made by founders David Powers and Scott Tindel, the feedback they received from the Sharks, and Tie Try’s future plans. We’ll also examine the outcome of their Shark Tank experience and provide alternative options for renting ties. If you were intrigued by Tie Try’s appearance on Shark Tank and are wondering where to buy ties, we’ve got you covered too. So let’s dive in and discover the journey of Tie Try and its founders.

Key Takeaways:

Tie Try is a menswear subscription service that allows customers to rent ties for a monthly fee.
The founders, David Powers and Scott Tindel, pitched their business on Shark Tank in episode 411.
The Sharks questioned Tie Try’s customer acquisition cost, subscriber base, and potential for expansion.
Tie Try’s future plans included implementing a referral program and expanding into other accessories.
After their Shark Tank appearance, Tie Try was acquired by Freshneck.com.

The Pitch

During their pitch on Shark Tank, David Powers and Scott Tindel introduced their subscription service, Tie Try, which allows customers to rent ties and exchange them for new styles or colors. They emphasized that Tie Try has gained its current level of success through free publicity and word of mouth, highlighting the appeal of their unique business model.

The Sharks showed interest in the pitch and sought to gather more information. They inquired about the cost of acquiring customers and the number of current subscribers. Powers and Tindel revealed that Tie Try has managed to attract 110 subscribers, showcasing the initial traction of their concept.

Table: Tie Try’s Pitch Details

Key Points

Type of Service
Rental subscription for ties

Success Factors
Free publicity and word of mouth

Customer Acquisition Cost
Not disclosed

Number of Subscribers
110

With their explanation and the provided details, Powers and Tindel aimed to highlight the potential of Tie Try’s rental model and attract the interest of the Sharks. However, the success of their pitch ultimately depended on whether they could address the concerns of the investors and deliver a compelling case for investment.

Stay tuned for the next section to discover the feedback the Sharks had for Tie Try and the subsequent direction of the pitch.

The Sharks’ Feedback

The Sharks’ feedback for Tie Try on Shark Tank was varied, with each investor raising their own concerns and questions. Here’s a breakdown of their feedback:

Kevin O’Leary: As someone with a notable tie collection, Kevin O’Leary questioned where Tie Try adds value for him. He wanted to understand how Tie Try’s subscription model could benefit tie enthusiasts like himself.

Robert Herjavec: Robert Herjavec expressed concern about the small size of Tie Try’s subscriber base and the need to continually replace subscribers who cancel. He wanted reassurance that Tie Try could sustain and grow its customer base over time.

Mark Cuban: Mark Cuban was not convinced by the founders’ sales plan. He felt that the plan lacked the necessary elements to drive significant growth and profitability for the business, which led him to decide not to invest.

Despite the mixed feedback, Tie Try’s founders remained confident in their subscription model and the value it provided to customers.

Investor Feedback

Let’s take a closer look at the feedback from each investor:

Investor
Feedback

Kevin O’Leary
Questioned where Tie Try adds value for tie enthusiasts like himself

Robert Herjavec
Expressed concern about the small subscriber base and need to replace canceled subscriptions

Mark Cuban
Was not convinced by the founders’ sales plan and chose not to invest

Tie Try’s Future Plans

Powers and Tindel have ambitious plans to expand and enhance the Tie Try brand. They aim to implement a referral program as a key strategy to drive customer acquisition and grow Tie Try’s subscriber base. By incentivizing current subscribers to refer their friends and colleagues, Tie Try aims to tap into new customer segments and increase brand awareness.

Additionally, Tie Try envisions expanding beyond their core product of tie rentals and venturing into other accessories that complement their existing offerings. The founders see great potential in expanding the Tie Try product line to include items such as cufflinks, suspenders, and vests. By broadening their product range, Tie Try aims to cater to a wider audience and meet the diverse fashion needs of their customers.

However, despite their aspirations for expansion, the Sharks have expressed doubts about the company’s potential for growth due to the lack of a strong sales plan. While Powers and Tindel have outlined their future plans, it remains critical for Tie Try to develop a comprehensive sales strategy that addresses the concerns raised by the Sharks.

Benefits of Tie Try’s Future Plans:

Increased customer base: The implementation of a referral program can help Tie Try reach a wider audience and attract new subscribers.

Diversification of offerings: Expanding into other accessories allows Tie Try to meet the evolving fashion needs of its customers and become a one-stop-shop for men’s accessories.

Challenges & Considerations:

Addressing sales concerns: Tie Try must develop a robust sales plan that showcases their ability to acquire customers, drive revenue, and demonstrate their potential for growth.

Managing inventory and logistics: With the expansion of the product line, Tie Try will need to ensure efficient inventory management and logistics to cater to the increased demand.

The Outcome

After their appearance on Shark Tank, Tie Try faced difficulties in sustaining their business. Ultimately, the company was acquired by Freshneck.com, a competitor based in New York City, in May 2013. Unfortunately, the exact amount of the acquisition remains undisclosed. The lack of substantial sales figures and inadequate preparation for the pitch contributed to Tie Try’s failure to secure a deal with the Sharks.

Passion and Success on Shark Tank

One common trait among successful companies on Shark Tank is their passion and commitment to their ideas and products. The show’s entrepreneurs who exude genuine passion for their business have a higher chance of securing investment from the Sharks. While a compelling pitch and a solid business plan are important, it is the passion and enthusiasm demonstrated by entrepreneurs that often captivate the Sharks.

Unfortunately, Tie Try did not come across as passionate about their business during their appearance on Shark Tank, which may have contributed to their lack of success. The entrepreneurs behind Tie Try failed to effectively convey their excitement and dedication, which could have made a significant impact on the Sharks’ decision-making process. Entrepreneurial ventures borne out of a true passion and belief in their product tend to resonate better with investors.

Passion and determination are crucial for entrepreneurs seeking investment on Shark Tank. The Sharks are not only investing in a business but also in the founders behind it. Their ability to convey their passion for their product, along with a clear vision for growth and a solid business strategy, is key to attracting the attention and support of the Sharks.

Successful Shark Tank Companies

Several successful companies that have appeared on Shark Tank have exemplified the power of passion in building a successful business. These ventures have not only secured investment but have also experienced significant growth and success post-show.

Scrub Daddy: Scrub Daddy is a household cleaning product that impressed the Sharks with its innovative design and versatile functionality. The founder’s passion and enthusiasm for the product played a pivotal role in securing an investment, leading to exponential growth and success.

Bubba’s-Q Boneless Ribs: Bubba’s-Q Boneless Ribs, a patented pre-cooked and frozen rib product, won over the Sharks with its unique concept and delicious taste. The founder’s passion for creating an exceptional dining experience resonated with the Sharks, resulting in a successful partnership and subsequent growth.

Lovepop: Lovepop creates intricate pop-up greeting cards that wow both recipients and investors. The founders’ passion for the art of paper engineering and their commitment to delivering joy through their products captured the attention of the Sharks, leading to a thriving business.

These examples illustrate how passion can be a defining factor in the success of a business on Shark Tank. When entrepreneurs truly believe in their product and convey their passion effectively, they have a higher chance of securing the support and investment necessary to propel their business to new heights.

Shark Tank Success Factors
Successful Shark Tank Companies

1. Passion and Commitment
Scrub Daddy

2. Innovation and Uniqueness
Bubba’s-Q Boneless Ribs

3. Clear Vision and Growth Strategy
Lovepop

Tie Try Reviews and Feedback

Customer reviews and feedback about Tie Try are mixed. Some customers appreciate the convenience and variety of ties offered by the subscription service, while others have concerns about wearing used ties. Tie Try’s unique business model has garnered both positive and negative feedback from customers.

Positive Customer Feedback

Convenience: Many customers appreciate the hassle-free experience of having ties delivered to their doorstep every month. They find it convenient to have a variety of ties to choose from without the need for purchasing and storing.
Variety: Tie Try’s wide selection of ties, ranging from classic to trendy styles, appeals to customers who like to experiment with different looks for various occasions.
Cost-effective: Subscribers often highlight the cost savings of renting ties instead of buying them. They enjoy the value for money offered by Tie Try’s subscription model.

Negative Customer Feedback

Hygiene concerns: Some customers express reservations about wearing used ties, raising concerns about cleanliness and the potential presence of allergens or odors.
Limited availability: A few customers have reported experiencing limitations in Tie Try’s tie inventory, particularly during high-demand periods.
Subscription commitment: A small number of customers feel restricted by the monthly subscription commitment and prefer the flexibility of purchasing ties outright.

Despite the mixed reviews, Tie Try continues to attract customers who value the convenience and variety it offers. The unique rental model may not appeal to everyone, but it provides an innovative solution for individuals seeking a rotating selection of ties without the need for long-term tie ownership.

Alternative Options for Renting Ties

If the idea of renting ties appeals to you but Tie Try didn’t quite hit the mark, don’t worry! There are other online platforms that offer tie rental services. These services provide a convenient and cost-effective way to access a wide range of tie styles without the commitment of purchasing.

Renting ties online allows you to experiment with different colors, patterns, and textures for various occasions, whether it’s a formal event, business meeting, or casual outing. It’s a great way to keep your wardrobe fresh and exciting without breaking the bank.

Benefits of Renting Ties Online:

Access to a Wide Selection: Online tie rental services typically offer a vast collection of ties, including designer brands and trendy styles. You can choose from an extensive range of options to complement your personal style and the occasion.

Cost-Effective: Renting ties is a budget-friendly option compared to purchasing new ties for every occasion. By renting, you can wear high-quality ties without the upfront cost of buying them.

No Commitment: With tie rental services, you have the freedom to change your tie style whenever you like. If you’re someone who enjoys trying out different looks, renting ties allows you to embrace variety without cluttering your closet.

Convenience: Renting ties online is a hassle-free process. You can browse and select ties from the comfort of your own home, and they are conveniently delivered to your doorstep.

Whether you’re attending a wedding, a job interview, or a special event, renting ties online offers a practical alternative to building and maintaining a large tie collection. It’s a smart choice for style-conscious individuals who want to stay fashion-forward while saving money.

Next, we’ll explore where you can buy ties after watching Tie Try on Shark Tank.

Where to Buy Ties After Watching Tie Try on Shark Tank

If you were interested in purchasing ties after watching Tie Try on Shark Tank, there are various options available. Online retailers, department stores, and specialty shops offer a wide selection of ties in different styles, colors, and patterns. It is recommended to explore different retailers to find the best options that suit your preferences and budget.

Online Retailers

Online retailers provide convenience and access to a vast range of tie options. Below are a few popular online platforms where you can buy ties:

Amazon: Known for its extensive product range, Amazon offers a wide selection of ties from various brands and sellers.

Macy’s: Macy’s online store features a diverse collection of ties suitable for different occasions and styles.

Nordstrom: Nordstrom’s website provides designer ties for customers looking for high-quality options.

Department Stores

Department stores are a traditional option for purchasing ties. They offer a mix of both affordable and designer brands. Here are a few department stores to consider:

Neiman Marcus: Known for its luxury offerings, Neiman Marcus carries a selection of high-end ties from renowned designers.

Kohl’s: Kohl’s provides a range of ties at accessible price points, making it a great option for budget-conscious buyers.

JCPenney: JCPenney offers a variety of ties, including both formal and casual styles, for those seeking affordable options.

Specialty Shops

If you’re looking for unique and specialized tie options, consider exploring specialty shops that cater to specific styles or themes. These include:

The Tie Bar: The Tie Bar specializes in men’s accessories, including a wide selection of ties in various designs, colors, and materials.

Bow-Tie Club: For those interested in bow ties, Bow-Tie Club offers a curated collection of stylish and quirky options.

Skinny Tie Madness: If you prefer slim and trendy ties, Skinny Tie Madness offers a range of fashionable options to suit your taste.

No matter where you choose to buy your ties, take the time to explore different retailers and compare prices and styles to find the perfect ties that match your personal style and preference.

Final Thoughts on Tie Try and Shark Tank

Tie Try’s appearance on Shark Tank provided a fascinating glimpse into the world of menswear and the challenges faced by entrepreneurs seeking investment. The feedback from the Sharks emphasized the crucial factors of sales numbers, passion, and a solid sales plan in securing a deal. While Tie Try did not receive an investment, their journey on Shark Tank offers valuable insights and takeaways for aspiring entrepreneurs.

The importance of showcasing strong sales numbers cannot be understated. The Sharks expressed concerns about Tie Try’s small subscriber base and the need for consistent customer acquisition. Entrepreneurs should be prepared to present robust sales data and customer growth strategies to demonstrate the potential for success.

Passion and enthusiasm play a vital role in capturing the interest of potential investors. The Sharks noted that the founders of Tie Try did not convey enough passion for their business during their pitch. This highlights the significance of effectively communicating a genuine belief in the product or service being offered.

Additionally, having a well-thought-out sales plan is crucial. Tie Try’s expansion into other accessories, such as cufflinks and vests, showed their ambition, but without a solid sales strategy, the Sharks remained skeptical about the company’s potential for growth. Entrepreneurs should ensure they have a clear and comprehensive plan in place to attract and retain customers.

Although Tie Try did not secure a deal on Shark Tank, their experience serves as a valuable learning opportunity for aspiring entrepreneurs. By taking note of the Sharks’ feedback and implementing the necessary improvements, entrepreneurs can increase their chances of success in the competitive world of business and investment.

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