CordaRoys owner shakes off nerves after ‘Shark Tank' appearance
Published: Wednesday, March 6, 2013 at 2:34 p.m.
Last Modified: Wednesday, March 6, 2013 at 2:34 p.m.
CordaRoys owner Byron Young said pitching his business on ABC's “Shark Tank” was “the most nerve-wracking experience I've ever had in my life.”
“Shark Tank” features entrepreneurs trying to persuade five multimillionaires to invest in their ideas. The episode with Young airs at 9 p.m. Friday.
“I've been doing this for 15 years, and talking about selling part of my business -- it might be fun and games in their world but it's how I feed my kids,” he said.
Young is holding a watch party that is open to the public from 8-10 p.m. at Cymplify Central and CYM Coffee Co., 5402 NW Eighth Ave.
CordaRoys sells beanbags that come with covers stuffed with futon-like beds. The company started 15 years ago at a kiosk in The Oaks Mall and now has stores in Minneapolis and South Bend, Ind., is in 40 other furniture stores and sells through www.CordaRoys.com and other online retailers such as walmart.com. The headquarters is at 5310 NW Eighth Ave.
Although he won't reveal how the show turned out, Young said that being grilled about the details of his business by five people “throwing questions” at the same time was “brutal.”
“It wasn't until two days after we filmed I felt like myself again. I thought I was dying of a rare disease. Turned out to be stress,” he said. “I take things seriously, and I want to do well and not look like an idiot, so that's important to me. Maybe a little too important.”
While many people who appear on the show pitch new ideas, CordaRoys had $1.4 million in sales last year.
Young said the business needs to be doing $5 million in sales.
“Until this product is a household name, we have a long ways to go.”
Whether the show results in a deal, Young said it should put him in front of about 6 million viewers and provide “about a million dollars worth of advertising” from the exposure.
Young attended a casting call in Orlando in October, and the show filmed in November.