Pillars of Slippers
Pillars of Slippers is an events company out of Chicago, IL, that hosts parties for shoes with DJs and food. Think, Tupperware parties but... shoes. Even the entrepreneur compares it this way. The idea is that it's a sales "party" but, rather than trying to get people to overpay for plastic storage-ware, women will pay for shoes.
On the upside, Pillars of Slippers does this upscale and will provide chocolate and strawberries for their events.
Pillars of Slippers has a retail location but the entrepreneur wants to move more towards hosting parties. In the previous year, the business has seen $70,000 in sales from online channels and $64,000 from parties and events.
Additionally, Pillars of Slippers doesn't just want to stick with the party game, they want to franchise it as well. For the low, low price of $100,000, anyone else can franchise the idea and host shoe parties of their own. Of course, with that fee comes a SUV, a custom paint job, a pink laptop, and materials.
The entrepreneur invested $200,000 into her retail location and just $60,000 into the party concept but told the sharks that she wanted change her business model so as to be able to close her store.
Needless to say, this deal had too much uncertainty for the sharks and Pillars of Slippers ended up leaving the tank without a deal.