Liquid Money is a his and her fragrance line that emits the scent of the most powerful aphrodisiac in the world: MONEY! Former VP of Sales at Microsoft and company founder Patrick McCarthy pitched Liquid Money to the Sharks in episode 301, the season three premier. McCarthy got the inspiration for Liquid Money from the smell of new, crisp bills from his ATM machine. According to McCarthy, “Liquid Money was inspired by a Japanese study that found the smell of the green stuff made us work more efficiently. Tests on workers in factories showed that they worked harder when the smell of money was pumped through the air vents.” He trademarked the name and sought the guidance of Larry “the Nose” Murrison, a fragrance industry expert and the creator of Michael Jordan Cologne. Together, they made a cologne and perfume infused with the scents of cotton, silk and linen – the same things used to make real money! Liquid Money comes packaged as His Money and Her Money; the packing material is real shredded currency.
Liquid Money Shark Tank Recap
Patrick entered the Shark Tank seeking $100K for 5% of the business. Liquid Money has $52K in annual sales, but not very wide distribution. McCarthy indicates several banks have approached him about using Liquid Money as a gift or incentive for new customers.
Mr. Wonderful thinks getting shelf space will be too expensive. Daymond thinks it will take a big advertising budget to get the product off the ground and wonders why more equity wasn't offered. Mark thinks the valuation is too high and he goes out. Mr. Wonderful goes out too. Barbara doesn't think it smells like money, so she's out. So is Robert. Daymond offers $100K for 80% and says he'll just license the name. Patrick declines Daymond's offer and the only money he leaves with is in his bottles.
Liquid Money Shark Tank Update
Patrick McCarthy got a lot of exposure from the Shark Tank appearance. In the months following the original episode, Liquid Money received a ton of media coverage. It became the “official fragrance” of Las Vegas and the Mrs. America Pagent. The Liquid Money reviews are in: Mrs. Kentucky and Mrs. Texas are endorsing the product and the fragrance is a hit with sports stars, celebrities, and money managers! Liquid Money is available from the company website and in over 200 retail outlets nationwide. Liquid Money is featured in an update segment in episode 416, just about year after the initial pitch . Patrick McCarthy is yet another Shark Tank Success Story.