Watch an episode of Shark Tank and see what happens when presenters cannot answer questions about the figures involved in operating their business.
During a recent airing of the Tamron Hall show Mia Monzidelis admitted math was not her strong suit. But she must know the key figures involved with her Power Pony invention, such as how much her product will cost, landed from overseas, and how much to charge wholesale so that retailers can mark it up for resale.
Note the figures cited below are guesstimates.
In the toy industry the average profit is 23-25 percent based on what? Mia knows the answer.
Consider the surprise that Mia gave to the delighted audience… beats a T-shirt! If there are 250- to 350 audience members, says TV Tickets, and each receives a value of $200 that is a sizable figure.
But how many more products will sell because of that free offering?
Sources
TV Taping.com
https://www.tvtaping.com/tvshows/tamron-hall
Toy Association.org
https://www.toyassociation.org/ta/research/data/u-s-sales-data/toys/research-and-data/data/us-sales-data.aspx#:~:text=Annual%20U.S.%20Sales%20Data,in%202022%20compared%20to%202019.
Power Pony.com/how it works.
https://powerpony.com/pages/how-it-works
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