Mural Painter Inc.
DEAL
EPISODE SUMMARY
🕓 Air Date: May 1, 2020
Asking For:
$300,000 for 15%
Investor:
Barbara Corcoran
Deal:
$300,000 for 15%
PRODUCT SUMMARY
Mural Painter specializes in mural painting, offering a unique form of semipermanent media for advertising that engages audiences, with a focus on creating job opportunities for artists.
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Background Story
Emily, the founder of Mural Painter, discovered her passion for mural painting at a young age. Despite facing health challenges, including a severe case of Lyme disease, she overcame obstacles, obtained her GED, and pursued fine arts at FIT.
As the demand for mural painting surged, Emily turned her passion into a business. Mural Painter not only revived the lost art of murals and hand-painted signage but also provided job opportunities for artists, allowing them to continue doing what they love.
The Product
Mural Painter’s services range from hand-painted advertisements to faux finishing, with a focus on creating eye-catching murals that captivate audiences and enhance brand visibility. The company operates like a construction company for artists, vetting them through artist calls and ensuring high-quality work.
The pricing model is hourly, starting at $16 per hour, with an example mural of 8×8 feet costing around $15,000 and taking approximately three days to complete. The company is expanding its reach by developing an app that connects artists with customers nationwide.
How It Went
The company’s position before Shark Tank
Mural Painter has branches on the East Coast (New York and Chicago) and the West Coast (Los Angeles). With a projected annual revenue of $800,000 and a profit of around $100,000, the company has shown significant growth since its inception. Emily’s determination and understanding of the industry have contributed to Mural Painter’s success.
The company collaborates with businesses like Bantam Bagels, creating hand-painted signage and advertisements. Currently, Mural Painter is seeking $300,000 in funding to expand into more cities, invest in marketing, and develop a customized dispatching system.
The Negotiations:
While Emily sought $300,000 for a 15% stake, Kevin O’Leary made an offer of $300,000 for a higher equity stake at 35%. Emily faced tough decisions as other sharks bowed out. Mark Cuban expressed concerns about scaling the business to higher revenue levels, and Daymond John had reservations due to past experiences with artists.
Lori Greiner and Barbara Corcoran offered insights, with Barbara making a unique offer of $100,000 in cash and a $200,000 line of credit for a 15% stake. Ultimately, Emily accepted Barbara’s offer, appreciating the guidance and strategic input she could provide for the business. In the end, Emily secured a deal that met her funding needs while aligning with her vision for Mural Painter’s growth and success.
