NEW YORK – Shark Tank Members Join in Unusual Funding. In an episode to be aired Sunday evening, April 26th, (ABC, 9:00 PM EDT – check local listing), the five regular cast members of Shark Tank fought each other to fund one of the most unusual start-up companies, Mothers’ Milk, LLC©. Entrepreneur Wilston Hickey of Chlamydia, Arkansas, asked for $250,000 for a 10% stake in his venture. His company, which employs approximately three hundred wet nurses that supply genuine mothers' milk to mothers throughout the United States.
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| Suzzi Hickey |
At first, appearing incredulous when hearing Hickey’s pitch, the entire cast soon realized that he was presenting an unusual investment opportunity. Hickey explained that he started his business when his teenage daughter, Suzzi, was offered a job as a wet nurse by a local Republican congresswoman who didn’t have time to nurse her own baby. Suzzi had stopped nursing her child, Washington Hickey, after he started kindergarten, but the milk kept coming and the wet nurse job paid well. Suzzie mentioned that many of her friends had excess milk, and some had sold some on Craigslist. After putting an ad on Facebook, Hickey was swamped with offers to both sell and buy real mothers' milk. He quickly realized that the sale of mothers milk, properly marketed, could supplement his meager income as a roadkill chef in a local restaurant.Suzzi passed out samples to the Sharks, but only Keven O’Leary tasted the sample and said that it compared very favorably for some mothers milk that he had drunk a couple of months prior to the taping of the show.
Asked about the economics, Hickey said that he pays his “herd” $1.15 per pint, and sells it locally for $4.50 if picked up at his storefront “dairy”, but $15.00 online, including overnight UPS. He is hoping to get into Whole Foods and possibly Krogers in the near future.
While impressed with the margins, Robert Herjavec said it would not fit into his investment portfolio and declined, as did Mark Cuban who did not see a sports-related market for the product.
Daymond John showed an interest, particularly since many of her herd were probably minority women, considering that the company is based in Arkansas. He declined to invest, however, saying that it would be a conflict with his investment in “Bovine Mama”, which offered a similar product in the mid-Atlantic states.
O’Leary declined to invest because he didn’t think it had licensing possibilities, but Shark Barbara Cocoran jumped in and made the investment, stating that it would fit in nicely with her other food product investments.
