Start-ups

This founder tried to get on 'Shark Tank' 7 times—now she has a 6-figure deal with Mark Cuban and Barbara Corcoran

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Mark Cuban and Barbara Corcoran with Click and Carry founder Kim Meckwood on ABC's "Shark Tank."
ABC/Eric McCandless

After auditioning for the show seven times, entrepreneur Kim Meckwood was "absolutely thrilled" to finally pitch investors on Friday's episode of ABC's "Shark Tank," she said.

"Seven years in the making so paid off."

Meckwood presented her product, the Click and Carry, which is a small, lightweight device made to rest on your shoulder or be held in hand to aid in carrying multiple bags at once.

The idea "came to me in a dream," Meckwood said during the episode.

"I had this boyfriend, and when we broke up, I had to carry my own groceries," but Meckwood said she prefers to bring all her packages from her car to her home in one trip.

"I really think your subconscious finds the answers for you, and it appeared in a dream."

It costs Meckwood $1.85 to make the Click and Carry, she said, and she sells each for $11.99, according to the company's website.

Although the Sharks were impressed with Meckwood's persistence, her sales numbers worried them.

After five years of business, Click and Carry had generated $625,000 in total lifetime sales. In the 12 months before filming the show, the business had generated $70,000 in sales.

Meckwood is unable to work full-time selling the Click and Carry, which is why she went to the Sharks, she said.

"You have a full-time job, and I don't blame you for that because you have to take care of yourself and you're doing that," Kevin O'Leary told her. "But this is not a company. It's a hobby."

O'Leary was uncomfortable with Meckwood's company valuation — she asked the Sharks for a $225,000 investment in exchange for 15% in equity — and opted out of a deal. Robert Herjavec and Lori Greiner also opted out.

Barbara Corcoran was interested – but her offer was an unexpected one.

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"Would you be willing to sell your whole business?" Corcoran asked Meckwood.

But the Click and Carry creator was not ready to do that. "I would [need] to be able to at least maintain a certain percentage and work for the company," Meckwood said. "This is my baby."

In turn, Corcoran offered Meckwood a $225,000 investment for 85% of the company, leaving Meckwood with just 15% equity.

"Look, I love Barbara," Herjavec said. But, "that's a crazy offer. You're a fighter. You've set a record on 'Shark Tank.' No one has ever applied seven times and gotten here. Are you going to fight all those years and all that work to give up 85% of your business?"

Meckwood agreed with Herjavec and decided to decline Corcoran's initial offer.

"You're special," Mark Cuban told Meckwood. "You fought through. How many times did you audition for 'Shark Tank?' That's crazy. But it shows where your heart's at and where your head's at. You're an inventor. You're a dreamer, literally. Somebody is going to have to run this business for you."

So, together, Cuban and Corcoran agreed to offer Meckwood an investment.

"What we're willing to do is come in together for $225,000, but we want 40% of the company," Cuban said. "We'll figure out operations and inventory. You focus on creating new products."

Meckwood accepted.

"You were the Shark I wanted," Meckwood said to Cuban.

Disclosure: CNBC owns the exclusive off-network cable rights to "Shark Tank."

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