"Nobody else has done that" - When Legit Kits pitched their quilting product on Shark Tank 

Shark Tank's new episode brought four new pitches, and among them was Legit Kits. Started by Mike O'Dell from Oklahoma, he claimed that he loved art and had to do something creative which brought him to build this business.

Talking in particular about quilts and the process of making them, the entrepreneur said that it is one of the products that gets passed down from generation to generation and, thus, has high emotional value.

Mike works as an anesthetist, and his field of work does not allow him to be creative. This is why he was inspired to make something that would tickle that side of his brain while also creating value.

However, Mike fumbled with his inventory numbers compared to his 60 SKUs, which made sharks question his management style. Lori then took it upon herself to ask him why he had 60 SKUs, to which he reasoned:

"Because nobody else has done that. I'm doing what nobody else does."

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Shark Tank entrepreneur Mike O'Dell pitches Legit Kits

Mike O'Dell appeared on Shark Tank Season 16, episode 9, asking for $150,000 for 5% of his company. Navigating the conversation toward quilting, he claimed it is a "relaxing, creative, and meaningful hobby."

However, he had difficulty starting his journey because the quilt kits already out there were very tedious. This prompted him to make his quilt kits, which are "easy to sew, foundation paper piece patterns, and kits that make beautiful masterpieces."

Displaying his quilts to the sharks on Shark Tank, he showed some modern color schemes and artwork with over "100 shades of fabric in them." He highlighted that the product is very detailed and easy to navigate. They also have variety in their quilts, and Mike revealed:

"With over 60 designs to choose from, Legit Kits has a pattern for everyone."

Lori then asks Mike what got him into quilting, and he explains its "heirloom" aspect and how quilts get passed down. However, when talking about numbers, Mike revealed that they had hit "revenue neutral" this year, which Kevin may not like.

Previously, they did a million dollars in sales but things have slowed down in the business.

While analyzing the issue, Shark Tank's Lori and Jamie realized that it was because of his inventory management. Mike has a lot of inventory with him, which is not going out as soon as he wants.

There is a gap in demand and supply. While talking to Kevin, Mike also revealed that his advertising has not been great either, which is letting the money out of the business. Despite that, Kevin loved the product and said:

"This is what I love about Shark Tank. Who knew there was a quilting community like this? And now I'm a quilter. I just love this."

After hearing about the inventory mismanagement, Barbara Corcoran, Mark Cuban, Lori Greiner, and Jamie Kern Lima decided to opt out of the pitch.

Shark Tank investor Kevin was still interested and made an offer of $150,000 for a 5% stake in the business on top of a 10-dollar royalty. Mike agreed to the offer, and the two shook hands towards the fulfillment of the deal.

After exiting the stage, Mike says in a confessional:

"I'm a high risk entrepreneur but having a deal with Kevin in perpetuity in not high risk. I know he's gonna boost our business to the next level and I can't wait to get started. Let's go!"

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New episodes of Shark Tank season 16 are released weekly on Fridays at 8 PM Eastern Time on ABC.