A couple and their product have been slammed on Shark Tank after the sharks failed to see how an all-natural cold and flu medication could be worth a $1.5 million investment.
Husband and wife team Nicole and Steve Jones were confident when they walked in to meet the sharks on Tuesday night’s episode.
“Flu Away 48 is a 100 per cent all-natural medication that has been clinically proven to eliminate the symptoms of the cold and flu within 48 hours or your money back,” Nicole explained.
After clarifying that their product was essentially meant to “cure” the common cold using ingredients including garlic, echinacea and vitamin C, the sharks began questioning the couple’s request for a $1.5 million investment for a 20 per cent stake, valuing their business at $7.5 million.
Top Comments
We already have products like that i.e. "Cold-Fx" They had to change 'curing the cold' to 'reduces the severity, duration, & symptoms of cold and flu' The marketplace is already full of this stuff, it's nothing new.
Forget the money, I can’t get past the part where these people, with no medical or scientific training, have cured the common cold! Gee, who knew it was so simple, I bet all those scientists who studied for years and did all that research feel really silly now! ( And of course their cure has been rigorously tested and reviewed, right?)
It's the entire premise which underpins the alternative medicine industry, which turns over billions of dollars a year. I actually don't think the couple making their pitch were that far off with their estimation of likely profit.
It does make money though.
Avocado and dried apricot/coffee facial scrubs to clean your pores are exactly the same thing for the cosmetics industry ... and they make like a bazillion of dollars from it.
If I wanted money, I would probably invest because it is a tried and proven formula.
And people bitch about "Big Pharma" only being out to make money, not cure disease!
Yeah, the hippy shilling you that miracle cure and handful of magic beans is doing out of love and concern - no profit margin there at all. ;)