Jessica Haynes, entrepreneur of the Jeska Shoe Company, won the 2011 Governor's Cup at Southern Arkansas University. She won the Innovation Award of the Graduate Division. Jessica launches Jeska Shoe Company and her award-winning product, a prototype shoe that uses an interlocking magnetic mechanism to disable stiletto healing for flats, in the 420 Shark Tank. According to the website: "The Donald W. Reynolds Governor's Cup
is a nationwide undergraduate and graduate business plan competition designed to encourage students in Arkansas, Nevada and Oklahoma to embrace their ideas and talents to do the business of tomorrow. This competition aims to simulate the real process of entrepreneurs creating business plans to get start-up capital from potential investors. "Since the week before the flight date, the Jeska Shoe Company has no website and has not produced shoes for the market. It's a start to sales.
Jeska Shoe Company Shark Tank Summary
Jessica entered the Shark Tank with her prototype shoes spotting the Stiletto heel for a wedge looking for $ 70k for a 30% share. Jessica says she has about $ 63,000 out of her own money for the business, mostly from an unpaid college fund from her grandfather. Robert thinks women like to have a lot of shoes, so he's out there. Kevin, who NEVER finances startups for revenue, believes that Jessica has no plan. he is out. Mark does not know the shoe shop, so he's out. Barbara believes that women who could afford Jeska Shoes could afford more than a pair of shoes; she is also out
In a shark tank jerk, Daymond remembers his early days when his mother lent him money to start FUBU from her family home. Daymond tells Jessica that he will make an offer, but it's not a good deal. He offers 70% for 70%. Daymond claims that he has a lot of work to do to get the product going, so the high percentage. Jessica says she would rather have a small percentage of something than a large percentage of nothing and accepted.
DEAL: Daymond offers 70% of JesKa Shoe Company for $ 70,000.
Jeska Shoe Company after Shark Tank Update
Unfortunately, not all products that make a deal in Shark Tank achieve lasting success. In October 2014, Hayes published a letter on the Facebook page of the Jeska Shoe Company, announcing that she would close her deal. She thanked the clients, friends, family, and others who had supported her dream, but said that the company had simply come to a place of "lesser earnings" and that there was no point in moving forward.
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