Tough Tie
We're still working up our take on this deal. (Sometimes it takes us a little bit.) However, you might find our quick take interesting in the meantime. Check back when we've updated this deal to see all of our thoughts.
Tough Ties is an apparel accessory company from Mesa, AZ, that has created a line that will survive childhood. Not the wearer's childhood, this isn't for kids. It's for parents so their clothes can survive their children's childhood.
The company has some respectible sales, booking $450,000 in sales over a two-year lifetime and expecting to book $400,000 in sales by the end of the year. Unfortunately, for a hot second it looked like they weren't going to land a deal.
Then Robert came in with a 35% equity offer. Despite the two entrepreneurs (and his fellow sharks) trying to get him down to 33.3% to be an equal partner with them, Robert wouldn't budge. Still, it was worth it to the entrepreneurs because they brought him on board as an investor.