Highlights
- HillBilly was brought to the investors on Shark Tank Season 2.
- Founders Mike Abbaticchio and Shon Lees bagged a deal from three prominent Sharks.
- Despite securing a deal, HillBilly refused it after the episode aired and still became a million-dollar business on its own.
Countless entrepreneurs appear on Shark Tank hoping to secure funding. While their tough attempts to bag a deal keep viewers glued to the show, some entrepreneurs simply use the Shark Tank show primarily for exposure rather than investment.
Businesses like HillBilly are the best examples of how leveraging Shark Tank’s fame can turn a small apparel brand into a million-dollar business.
Shark Tank’s global reach helps budding startups get instant recognition, which otherwise takes months or even years. Entrepreneurs like HillBilly’s Mike Abbaticchio and Shon Lees realize this and hence knowingly refuse to take deals from Shark investors.
HillBilly Shark Tank Quick Facts
- Founders: Mike Abbaticchio and Shon Lees
- Investment Asked: $50,000 for 25% equity
- Final On-Screen Offer: $75,000 for 7% royalty (Robert Herjavec, Jeff Foxworthy, Daymond John)
- Deal Status: Did not finalize after the show
- Post-Show Expansion: Women’s wear line + HillBilly Iced Tea
- Annual Revenue: $1 million (by July 2023)
HillBilly was featured in one of the earliest Shark Tank seasons and impressed the judges with their line of outdoor and lifestyle apparel. Below are detailed insights into the company’s pitch, deal status, and success stories after the show.
HillBilly Shark Tank Pitch
In Shark Tank Season 2, the entrepreneur duo of Mike Abbaticchio and Shon Lees appeared before the Shark investors with HillBilly, a country lifestyle clothing brand.
They asked the Sharks for $50,000 in exchange for 25% equity and explained how their journey began by selling t-shirts at fairs, concerts, rodeos, and other outdoor events.
Seeing the high demand for their country tee shirts, Mike and Shon decided to take HillBilly to newer heights by launching items like cowboy hats and camo ball caps.
The entrepreneurs reiterated that their company was particularly focused on country music fans, NASCAR fans, and outdoor recreational lovers.
When the Sharks inquired about HillBilly’s sales, the duo revealed that they had made $50K in sales before their appearance on the show.
Mike and Shon projected $60K in sales by the end of 2011. The entrepreneurs added that they had secured a distribution agreement with Sports Authority.
Final Deal For HillBilly On Shark Tank
Citing its low sales, the Shark investors were apprehensive about HillBilly’s $200K valuation. While Mike and Shon tried to convince them, Kevin O’Leary exited the deal.
Barbara Corcoran, too, opted out as she did not have licensing contacts to help the entrepreneurs sell their offerings.
Robert Herjavec saw potential and asked guest investor Jeff Foxworthy if he would join him in the deal to buy and license HillBilly.
Jeff agreed and then invited Daymond John to join the two of them. The three Shark investors offered $50K for the outdoor clothing brand and a 7% royalty on its licensed sales.
Mike and Shon countered it with $100K for a 10% royalty. They also wanted a guarantee that they could buy back HillBilly if it did not sell. Robert, Jeff, and Daymond countered it with $75K for a 7% royalty. The HillBilly entrepreneurs agreed and accepted the deal.
How Did HillBilly Founders Use Shark Tank For Fame?
Mike Abbaticchio and Shon Lees garnered unprecedented fame from Shark Tank for their small-scale country lifestyle clothing company. Their impactful pitch not only got them an impressive deal on the show but also offered exposure that helped them grow their offerings.
Have a look at how Shark Tank emerged as a game changer for HillBilly despite the deal not closing eventually:
HillBilly was a breakthrough business that appeared in the second season, as it bagged a deal from three Shark investors.
However, things took a U-turn when the deal did not close after the episode aired. Mike and Shon could not mutually agree and eventually rejected the deal.
After all the turn of events, the HillBilly entrepreneurs revealed in interviews that they connected the most with Daymond and that he taught them a lot. Despite leaving the Shark Tank deal, Mike and Shon’s brand skyrocketed shortly after their appearance on the show.
Expanding their product line to women’s wear, HillBilly reached the global market and started their iced tea brand. Owing to their recognition after Shark Tank, Mike and Shon’s outdoor clothing brand got the viewers’ validation.
Accordingly, the orders kept coming, leading to the company’s annual revenue of $1 million (by July 2023).
It Tastes Like #Summertime! pic.twitter.com/yernzcxIX2
— HillBilly Brand, Inc (@hillbillybrand) June 11, 2024
Fame That Outweighed Funding
The journey of Shark Tank’s HillBilly demonstrates how entrepreneurs use the show not only as a source of investment but also as a platform for accelerating their recognition.
Additionally, a Shark Tank deal for any business often becomes a source of credibility, which helps it acquire a global audience.
HillBilly’s story of growth despite rejecting a multi-Shark deal reiterates the value of a business after getting Shark Tank’s fame.
