Tipsy Elves entered the Shark Tank in Season 5 and clinched a deal with Robert for their ugly Christmas sweaters. The unique company has expanded by leaps and bounds and now includes a patriotic line, ski wear and college sweaters.
We spoke to co-founder Nick Morton, who said his future goals are to become “the number one novelty apparel company in the country.”
Here is what else he told us about…
How the Company Has Grown Since the ‘Tank’
Before Shark Tank we had just over $1 million in sales and since, we’ve had well over $10 million in sales. We had one employee back then and now have 15 full-time employees and 25 seasonal employees. We moved from a one-room office to a 4,200 square-foot office space and we’ve expanded from a Christmas only business to a year round business selling patriotic apparel, ski suits,college products and something for every holiday.
Robert’s Involvement & Sound Advice
He helps us in the way an adviser helps many companies they invest in. We have a full-sized team now, so we do not ask him for help with day-to-day operations. We focus on high-level, big-picture ideas like which new lines to launch, which direction to take the overall feel of our designs, business strategy and things like that. I also speak with him whenever we have leadership or entrepreneurial type questions. For example, I just spoke with him last week about raises and bonuses and his thoughts on the best way to go about that in a rapidly growing business. He also is great about promoting our brand and being an awesome brand advocate. We couldn’t be happier with our relationship with him.
His Advice for ‘Tank’ Contestants
Make sure you know your business inside and out and know why you are in the Tank in the first place. Be confident, have fun and get ready for a crazy ride. Most of all remember to enjoy the process; it’s a great experience.