Corks Away Wine Cruise Experience
NO DEAL
EPISODE SUMMARY
🕓 Air Date: November 16, 2012
Asking For:
$105,000 for 20%
Investor:
No Deal
Deal:
No Deal
PRODUCT SUMMARY
Corks Away offers wine tasting experiences aboard luxurious 30-foot wine vessels, providing guests with an hour and a half of premium wine tasting while cruising on the water.
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Background Story
Corks Away founders, Captain Nathan Buffet and Shane Cianciolo, introduced their unique business concept on “Shark Tank.” With a background in sailing and a passion for wine, the duo came up with the idea of combining these two elements to create memorable experiences for guests. They started with a single boat, aiming to offer an unparalleled wine-tasting experience on the water.
The Product
Corks Away provides customers with a unique wine-tasting experience aboard their luxurious 30-foot wine vessel. During the hour and a half cruise, guests are served and educated about four different wines along with specialty appetizers like the renowned pesto torte.
The company’s focus is on providing an intimate and high-quality experience for a maximum of six guests per cruise. They offer various types of cruises tailored to different occasions, including beers and cheers cruises, mimosa cruises, couples cruises, and sunset cruises.
Customers can book their experiences directly through Corks Away’s website or by contacting them directly. Prices vary depending on the type and duration of the cruise, with options for customization available for private events.
How It Went
The company’s position before Shark Tank
Corks Away has achieved significant sales, generating $250,000 in the previous year. Their success is attributed to the unique experience they offer, attracting repeat customers and positive word-of-mouth referrals. They aim to expand their business by offering franchise opportunities to other captains, providing them with a turnkey solution to replicate the Corks Away model. The company’s current structure revolves around owning and operating their flagship vessel while seeking investment to scale and franchise their business model.
The Negotiations:
Despite the initial interest from some sharks, Corks Away ultimately left the tank without a deal. While the sharks appreciated the entertainment value and unique concept of the business, they expressed concerns about scalability and return on investment. The founders’ vision to expand into a franchise model and introduce additional revenue streams, such as selling specialty appetizers to stores, did not resonate with the sharks. Ultimately, the sharks felt that the business lacked the potential for significant returns, leading them to decline investment offers.
