"Had to walk away" — Shark Tank entrepreneur Charlotte Trecartin rejects every offer for CharCharms

Shark Tank Season 16 Episode 10 featured a pitch from CharCharms entrepreneur Charlotte Trecartin of Chicago. She has made a product that helps in accessorizing water bottles of every shape and size.

When Charlotte finished her pitch, Shark Kevin O'Leary was curious to know how Charlotte's product was different from variations of the same product available in the market.

To this, Charlotte replied her company was the first to create stick-on charms that are dishwasher safe. Users could also customize their bottles according to the occasion.

Talking about her journey, Charlotte said she started off in 2020 when she was sent home from university during Covid. She had hired a TikTok coach who helped her boost engagement on the platform and, soon, her posts started going viral. She had to think about merchandising and selling the product in stores.

After the negotiations, Charlotte had offers from Kevin and Daymond John. She was seeking $300,000 for a 10% stake. However, neither shark was not ready to go below 17.5%. This made her reject the offers and walk out with no deal. In a confessional, she said:

"Daymond was talking about licensing and then Kevin was talking about distribution. And I don't think either would be worth more than 15%. So I had to walk away from both of their offers."

---

Shark Tank entrepreneur Charlotte Trecartin rejects all offers for CharCharms

Sharing her journey on the Shark Tank episode, Charlotte revealed that she has graduated from the University of Illinois. When she started making the products initially, the CharCharms owners hired a TikTok coach for $400.

She used to post three times a day, which took her page from 0 to 80,000 followers very soon. As her posts started going viral, her company started attracting attention from retailers like Target.

Talking about valuation, Charlotte revealed that her company has made $6.5 million in revenue. However, the Sharks were not convinced, especially Daymond and Kevin.

Shark Tank investor Daymond John talked about how licensing would be tough for him, while Kevin O'Leary was adamant about the distribution of the products. However, Mark Cuban advised her to opt out of the "predatory offers." He said she should not be pressured and should only accept what she was comfortable with.

Paying heed to Mark's words, Charlotte negotiated for 15% instead of the proposed 20% by both the Sharks. Daymond refused to go below his demand, saying:

"I can't, because right now, if I go to a regular company and say, 'I will do your licensing agent for you,' I get 30% just doing that."

Upon further negotiations, Shark Tank's Daymond agreed to come down to 17.5%, but Charlotte did not feel licensing would involve that much of work. She aimed to get a Shark who would "invest in her" and help her expand the business with their knowledge.

Both Kevin and Daymond said they knew "the work" that had to be done and, thus, it would be difficult to come down below what they had demanded. Charlotte ended up by saying:

"I understand. Well, I appreciate all your offers. Unfortunately, I can't go lower than 15% so thank you so much."

At this point, Shark Tank investor Mark Cuban started applauding and everyone congratulated Charlotte for her business acumen.

---

Shark Tank Season 16 airs new episodes weekly on Fridays at 8 PM Eastern Time on ABC. Later, the episodes can also be streamed online via Hulu.