The Gameface Company founder Doug Marshall brings his patented, temporary face tattoos that are an alternative to face painting into the Shark Tank in episode 412. Marshall founded The Gameface Company to provide a neater alternative for fans who like to paint their faces to show support for their favorite team. Face paint takes a long time to put on and the paint rubs off on clothing; in short, face paint is a mess. The Gameface Company cleans up the face painting problem by using temporary tattoos to provide the colorful show of allegiance. They can also be used as costumes with some of the licensed characters. The Gameface Company has patents pending and has their slogan, “Put Your Game Face On," trademarked. Customers can create custom game faces too.
The Gameface Company Pitch
Doug enters seeking $450k for 25% of his business. He reveals it's a “part-time” venture and he's struggling to grow the business while supporting his family as a sales rep. Even so, he did $102k in sales the previous year. Part of his pitch and the money he's seeking includes a $100K per year salary for three years.
Robert and Daymond don't like the idea of a salary and they both go out. Mr. Wonderful offers $450K with $300K considered a loan; he wants a 25 cent royalty on every Gameface sold until he gets his money back. Lori offers $450K for 40% and she asks Mark to go in with her. Mark then offers $1 Million for the entire company which includes an $80K per year salary for Doug for the next five years.
Doug wants to mull it over and he counters with $450k for 35% with a yearly $80k salary. Lori and Mark will do it if they get a 10% royalty until they recoup their money. Everyone shakes hands, does the deal, and puts on their Gameface!
The Gameface Company Shark Tank Update
Mark, Lori and the Gameface Company completed their deal and the business is successful enough to get an update in episode 520 on February 21, 2014 – a little over a year after the original air date.
“Showing your fan pride has changed 180 degrees with game face,” says Cuban.
The fans are on board with Cuban's excitement. In the first year of business, Gameface did $6,700 in sales. In the first ten months after the first appearance on Shark Tank, sales reached $200,000, and projections for the future range from $2-20 million, as Gameface is picked up and licensed by more major league professional sports teams.
“So many people want a small business,” says Marshall, “Or just have an idea. I had an idea, created a business, went in front of the Sharks, and it's changed our life beyond our wildest dreams.”
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The Gameface Company Information