logo


Businessman Bobbles 'Shark Tank' Pitch
Thursday, October 22, 2009 1:56 AM


(Source: Tampa Tribune)trackingBy Walt Belcher, Tampa Tribune, Fla.

Oct. 22--TAMPA -- A Pasco County entrepreneur who sells custom-made bobblehead dolls went in to the "Shark Tank" and emerged without any new investors in his online business.

Trinity resident Jeff Wolsky says the experience was beneficial anyway because of the national exposure and the chance to wheel and deal against the "sharks."

Wolsky appeared on Tuesday night's finale of the ABC reality show but the episode was taped months ago.

Wolsky and his wife Christine run HD Design Center LLC from their home. They have sold more than 1 million bobblehead dolls worldwide since 2004. Wolsky told the Tribune that he wanted to take his business to the next level by opening kiosks in shopping malls.

He went on "Shark Tank" seeking $75,000 from the panel of high-rolling investors but they shot down his plan to take the business into malls.

He got off to a good start by presenting each of the five investors with a personal bobblehead made in their likeness.

However, they turned on him when he only offered an investment in his mall shop concept, not his online company.

Investor "Shark" Kevin O'Leary, a Canadian entrepreneur, especially was down on the mall idea, offering Wolsky an investment if Wolsky would never set foot in a mall.

O'Leary and fellow "Shark" Robert Herjavec, also a Canadian venture capitalist, were the most interested. They wanted in on the online business, offering as much as $125,000 for 20 percent.

Investor Barbara Corcoran wanted to know how much it would cost to rent a kiosk in a mall (about $1,500) and what the annual profit was for his online business.

He estimated his online business to be worth $500,000 to $600,000.

O'Leary said he couldn't understand why Wolsky would want to expand if he was doing that well: He offered $75,000, but only for the existing business with the proviso that he would never be allowed to expand into malls.

Herjavec tried to up the investment for the online business but Wolsky would not budge. The investors accused him of being greedy and all deals went sour.

"They call me greedy but they tried to steal a part of my business," Wolsky said.

He told the Tribune that the taping session lasted well over an hour, but only selected highlights aired.

The Wolskys say they have supplied bobbleheads to sports teams and corporations. They make a series of political figures for the U.S. News & World Report Web site. They also sell the political bobbleheads on their Web site.

Much of their business comes from people who want to give bobbleheads as gifts or for weddings, birthdays and special occasions. Custom bobbleheads run about $89 but can be more expensive depending on the design.

The orders are taken via the Internet at the HD Design Web site, where customers can help design the dolls, which are made in China.

Reporter Walt Belcher can be reached at (813) 259-7654.

-----

To see more of the Tampa Tribune or to subscribe to the newspaper, go to http://www.tampatrib.com.

Copyright (c) 2009, Tampa Tribune, Fla.

Distributed by McClatchy-Tribune Information Services.

For reprints, email tmsreprints@permissionsgroup.com, call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA.

NYSE:DIS,

A service of YellowBrix, Inc.



(0)
No Comments
Post Comment
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
   
 
 
 
 
   
 

  
Related Press Releases
Advertisement
Popular Articles
Advertisement
Partner Center
Fundamental data is provided by Zacks Investment Research, market data is provided by AlphaTrade. , and Commentary and Press Releases provided by Quotemedia